Gold: closed at 28965, day trading range is expected to
remain between 28700-29200, trend is expected to remain sideways with positive
bias. Today INR weaning against USD that is also supportive for bullions in
domestic markets. Immediate support seen at 28940 stability below this level
may trigger intraday weakness that will take it to 28880-28800 for the day but
28700 will remain key support for short term. Above 28940 gold will remain
attractive bet for bulls and it will try to move towards 29100-29160 stability
above 29160 would trigger further bullishness that may take it to 29240-290 but
29300 will remain key rest for short term daily close above 29300 would signal
an uptrend for targeting 29550-30000 in very short term.
Silver: closed at 54351, day trading range will remain
between 53300-55000, trend will remain sideways with positive bias. Silver having
strong support at 54300 failures may take it to 54050-54000 for the day. 53850
looking very strong support for the day, failure of this support is less likely
but in case of failure this fall may extend till 53400-53150 for the day. Immediate
resistance seen at 54550 stability above 54550-600 zones would signal a retest
to 54850-950 zones. Stability above 55000 needed for intraday rise till
55250-55500.
USD/INR: currently
trading at 55.59 day trading range is expected to remain between 54.95-56.20,
trend is up. Recently currency pair defined a support at 54.95 stability below
54.95 would trigger further weakness and counter may slide till 54.50-54 in
near term till trading above 54.95 bulls will remain in charge immediate
resistance seen at 55.70 stability would open door for retest of upper band of
day trading range.
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