COMMOTRENDZ GOLD VIEW 4 THE DAY ::: GOLD HAVING STRONG RES AT 1700-1705 LVL. IF NOT BROKEN IN NEXT TWO DAYS ON CLOSING BASIS THEN WE MITE SEE WEAKNESS IN THE COUTNER. MINOR SUP SEEN AT 1681. MAJOR SUPPORT SEEN AT 1660 LVL. DAILY CLOSE BLW THIS LVL WILL MAKE IT WEAK.AFTER IMPORT DUTY REJIG BY 50% GOLD REMAINED FLAT DUE TO STRONGER RUPEE. DUTY RAISED BY 2 PERCENTAGE POINT FROM 4 TO 6. IMPACT WAS NEGATED BY STRONGER RUPEE. STRONG MCX RES REMAIN NOW AT 30888 LVL. TWO CLOSE ABV THIS LVL MAKE SOME RECOVERY ELSE CAN FALL UPTO 30444 LVL IN COMING DAYS. DAILY CLOSE BLW 30444 WILL MAKE GOLD WEAK UPTO 30000 IN COMING DAYS. OUTLOOK REMAIN WEAK IN MCX AS STRONGER RUPEE WILL MAKE IT TOUGH FOR GOLD TO SUSTAIN AT HIGHER LVL. SELL ON RALLY FOR THE DAY.
GOLD COMEX INTRA TRADING RANGE 1706-1682 EITHER SIDE BREAK N CLOSE MORE DIRECTION. BIAS WEAK AT HIGHER LVL.
MCX GOLD 30888-30444 EITHER SIDE BREAK MORE DIRECTION. BIAS WEAK AT HIGHER LVL.
SELL GOLD MCX 30880-30900 TGT 30644-30444 SL 30944
GOLD SPDR MKT HOLDINGS STANDS AT 1332.61 UNCHANGED.
GOLD LBMA FIXES AT 1687.50 DOWN BY 1 USD
INR TRADING RANGE 53.28-54.09 RUPEE RANGED TO POSITIVE. BUT CAUTION SUGGESTED IN SELING RUPEE AT LOWER LVL. SHARP RECOVERY/SHORT COVERING CAN BE EXPECTED. for more please visit www. commotrendz.com
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