Fundamentals for the Day
6.00 pm Unemployment Claims
Goods Trade Balance
Prelim Wholesale Inventories m/m
Stay alert on Import Duty cut by Indian Government-
If no Duty Cut then market will work on from 157700 as it’s neutral point for trading – premium of 6600/- in MCX Gold has been completely set off by operator before the Import duty. Now in case Import duty cut news by 5% or more will be calculate as it is from 158000 Price of today morning 11.15 AM. So do not get confuse about it.
Gold
Range: 157500 – 164000
Our Preference: Sell Gold @ 161400 back up sell 162000 target 158110 with SL 161700
Alternative Scenario: Buy Gold @ 157700+ target 160800 with SL 156700
156400 Breakout Level for sell for target 153666
Yesterday – Night Gold discounted based on the rumor of Import Duty may cut by Indian Govt. – with the help of this news Gold premium of 6000+ has been set off today in MCX.
Silver
Range: 235000 – 248000
Our Preference: Buy Silver @ 238000+ target 245000 with SL 235000
Trading Zone
235000 Breakout Sell for Silver
