Fundamentals for the Day
8.30 pm Final wholesale Inventories m/m
9.00 pm Crude Oil Inventories
11.31 pm 10-Y Bond Auction
- Gold Open Interest decrease 4,90,045 Volume Increase 2,89,524 Price Decrease
- Effect: Gold will remain downside
- Dollar Index Trading @ 102.25$ on closing its trading on its breakout point, As it gives close above 102.65$ will open the gate of 103.86$
- Effect: Gold will start moving downside more desperately in near term
- Tomorrow is the Inflation Day, market is eagerly waiting for CPI
Yesterday,
Gold made a High of 62490 where we mention to sell @ 62500
Gold
Range: 62411 - 61700
Our Preference: Sell Gold 62411 for target 61950 with SL 62550+ only if sustain
Alternative Scenario: Buy Gold 61711 for target 62150 with SL 61600
Trading Zone
Session Call: 61900 Buy @ 1st stroke with SL 61825 target 62100
Only for Holding Trader - Position can be 62500 sell for target 61700 with SL 200 point
Silver
Range: 71700 - 73000
Our Preference: Buy Silver 71750 target 72600 with SL 71550
Alternative Scenario: Sell with stop sell limit in advance - 71500 for target 70522 with SL 71800
Trading Zone
70522 Buy for the Session with SL 200 point