Silver MCX July-
Silver MCX July contract closed yesterday at 54726 level and fall by 846 points (-1.52 %) . Near term trend of silver is still seems to be rangebound. Initail bias is negative and we can expect some more decline if it openes below (or breaches) 54350. Below this level Silver can face some dowanfall till 54000-53700 levels.
Above 55200 Silver can gain some momentum towards the level of 55700-56100-300.
for Intraday Buy silver MCX July contract at 55100-200 for the targets of 55500-55800-56100 and keep a strict stoploss below 54700
below 54400 Sell it for the Intraday targets of 54200-54000-53900, Stoploss-55700
MCX Gold August-
MCX Gold Aug Futures Closed yesterday at 22510 with a loss of 112 points. Technically the nearest resistance level is seen near 22600-640 levels. While a consistent trade below 22380 may take Gold towards 22290-22200 levels.
For Intraday On should Buy Gold MCX August contract at 22600-610 for the targets of 22650-22700 and keep a stoploss below 22520.
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