Bullion Update and Market Outlook: Nirmal Bang

Bullion Update and Market Outlook: Nirmal BangGold: The counter is in a uptrend but strongly resisting the 15890 levels. The RSI and ADX are in a positive territory, thus breaching 15890 prices can enter a new territory targeting 16250 in short run. However till then prices are expected to trade range bund between 15725-880. Breaching 15700 can put downside pressure on the prices.

Silver: The counter is continuous resistance at 27000 levels. Looking at the dropping RSI and dropping +DI, the prices are expected to correct sharply on breaching the 7 DMA on closing. Thus one should wait and watch at this point. While fresh buying can be done only above 27100 with stoploss at 26950.