GOLD UPDATES || TREND :- Spot gold rebounded as buyers rushed to snatch bargains after prices plunged to 4½ month low and the Euro staged a rally. Euro inched up yesterday after falling to a four month low earlier as few Greek banks faced some emergency funding needs.
MCX GOLD TRADING STRATEGIES :-
Key levels for the day:
Upside: Immediate 1565/1585/1596-1606/1620 then 1655.
Downside immediate: 1515 followed by 1508/1480 long term 1390
Buy above 1552 target 1570 SL 1540.
Buy on dips to 1522 target 1545 SL below 1515.
Buy above 1572 target 1596 SL 1544.
Buy above 1608 target 1620 SL 1600.
Buy above 1620 target 1630/1645 SL below 1605.
Sell on rallies to 1572 target 1545 SL 1596.
Sell below 1508 target 1480/1458 SL1545.
Sell on pullbacks to 1606 target 1590 SL 1621.
Sell on pullbacks to 1630 target 1600 SL 1645.
Broad selling pressure is in order as long as prices stay below 1560 but a corrective turn higher is expected the day.
FILL THE FORM FOR NCDEX MCX TIPS-------->>>>>>
