6:42 PM
Nifty Tips
MCX GOLD
After the brief test of 20000 mark, successive attempts to float above 19850 has been unsuccessful, rendering the broad trend weak, targeting 19500. However, since the recent sell off may attract bargain hunting, ideal points to re-enter the bear move would be near 19800 or below 19670. Reduce short positions if above 19800.
R3 19770
R2 19725
R1 19687
Pivot 19680
S1 19640
S2 19637
S3 19590
MCX Silver
Break of symmetrical triangle as well as the crucial 35800 mark has rendered the broad bias weak, targetting 35200-34500. However, extreme short term momentum oscillators have moved into oversold territory, which could force some deal of short covering. Ideal entry points to play this move would be on dips to 35200 or on break above 35800
R3 36970
R2 36400
R1 36100
Pivot 36830
S1 35540
S2 35260
S3 34690
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