BULLION OUTLOOK FOR 02-03 MARCH

Gold: Gold Future has entered in negative zone and traders can hold short positions until Gold Future closes above 29576 levels. Traders can initiate short positions on every rise until Gold Future closes above 29576 levels. Gold trading range for the day is 29422-29722. Technically market is getting support at 29494 and below same could see a test of 29422 level, And resistance is now likely to be seen at 29644, a move above could see prices testing 29722.

	R2	R1	S1		S2	TREND
GOLD	29400	29300	29080		28900	BULLISH

Silver: Analysis would remain same. Silver is still in positive zone and traders can buy at dips or hold long positions until Silver closes below 43034 levels. Traders can go short once Silver Future closes below 43034 levels. Silver trading range for the day is 43546-44274. Technically market is under fresh selling as market has witnessed gain in open interest by 61.7% to settled at 10973 while prices down -52 rupees, now Silver is getting support at 43751 and below same could see a test of 43546 level, And resistance is now likely to be seen at 44115, a move above could see prices testing 44274.

	R2	R1	S1		S2	TREND
SILVER	44000	43900	43500		43300	BULLISH