This week looks like a Jobbing week with High volatility – @ THE END OF THE DAY We suggest to Go with Buy position on Down level for jobbing also.
Range: 47132 – 48422
Our Preference: Buy Gold 47165+ for target 48224 with SL only below 46990
Alternative Scenario: Sell Gold 48024 with SL 48200 + for target 47350 (Pure Intraday level – Will not apply for tomorrow)
47365 Buy @ 1st stroke
47700 Sell @ 1st stroke
Strict SL will be of 100 point for above mention Buy & Sell
Comex Gold Range: 1762$ – 1800$
So better match MCX Gold price with COMEX to get more accurate entry price with Higher return. USDINR will have high fluctation due to COVID status variance in India.
Effect: This week Gold movement with High volatility will continue by following Up trend. Which mean positional Trader will follow Buy position on Dip or down level.
Range: 68050 – 70500
Our Preference: Buy Silver 68100+ for target 70500 with SL only below 67600
Alternative Scenario: Sell Silver 70300 for target 68500 with SL only above 70800+
Above 70800+ Silver will move towards target of 72500.