SELL
GOLD DEC @ 30000 SL 30150 TGT 29880-29750.
SELL
SILVER DEC @ 42200 SL 42550 TGT 41820-41640.
Gold: Gold trading range for the day is
29745-30075. Gold prices settled flat as a strong dollar limited gains, but
prices notched its first weekly rise in four as seasonal demand from Asia kicked
in. Demand from Asia, including China, India and exchange-traded funds (ETF),
has helped prop up prices. Dealers in India were charging a premium of up to $2
an ounce over official domestic prices in the week.
Outlook: Dec. Gold prices
couldn’t sustain at its intraday highs at 30063 levels yesterday. The counter
will witness intraday bounce towards 29980/30000 areas. Sustenance above 30000
levels will trigger a retest of 30063 levels. Support for the counter is seen
between 29800— 29750 zones. Weakness below 29750 will push prices lower towards
29565/29460 levels again.
R2
|
R1
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S1
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S2
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TREND
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||
GOLD
|
30000
|
29900
|
29600
|
29500
|
SIDEWAYS
|
Silver: Dec. Silver
prices will witness a bounce into resistance between 42080—42150 areas until
support at 41800 levels hold. Weakness below this support will push prices
lower towards 41560 levels. Prices needs to breakout above 42150 levels again
to recover towards 42390/42477 levels again.
Outlook: Silver trading
range for the day is 41695-42199. Silver prices ended with small gains as
rising demand was offset by a strong dollar. Prices were hurt in recent weeks
by the strength of the dollar, which has been helped by a slew of data
indicating an improvement in economy. Holdings at ishares silver trust gained
by 0.89% i.e. 100.36 tonnes to 11395.28 tonnes from 11294.92 tonnes
R2
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R1
|
S1
|
S2
|
TREND
|
||
SILVER
|
42350
|
42200
|
42000
|
41800
|
SIDEWAYS
|
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