WEEKLY BULLION OUTLOOK FOR 14-17 MARCH

BUY GOLD @ 28250 SL 28000 TGT 28500-29000.

 BUY SILVER @ 40400 SL 42100 TGT 41000-41500.

Gold: Gold Future is trading in negative zone and traders can hold short positions until Gold Future closes above 28744 levels. Traders can initiate short positions on every rise until Gold Future closes above 28744 levels. Gold trading range for the day is 28287-28677. Technically market is under long liquidation as market has witnessed drop in open interest by -0.82% to settled at 6074 while prices down -183 rupees, now Gold is getting support at 28367 and below same could see a test of 28287 level, And resistance is now likely to be seen at 28562, a move above could see prices testing 28677.

	R2	R1	S1		S2	TREND
GOLD	29000	28500	28230		28000	BULLISH

Silver: Silver is trading into negative zone and traders can short at every rise or hold short positions until Silver closes above 41724 levels. Traders can go long once Silver Future closes above 41724 levels. Silver trading range for the day is 40374-41638 Technically market is under fresh selling as market has witnessed gain in open interest by 1.92% to settled at 12769 while prices down -596 rupees, now Silver is getting support at 40604 and below same could see a test of 40374 level, And resistance is now likely to be seen at 41236, a move above could see prices testing 41638.

	R2	R1	S1		S2	TREND
SILVER	41000	40500	40300		40000	BULLISH