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Nifty: 10397.5 +37.10 Silver: Rs.38195.00
MCX Gold Feb: Prices are expected to correct slightly; Sell - IndiaNotes.com
MCX Gold Feb: Prices are expected to correct slightly; Sell
Way2wealth | Published: 30 Jan, 2018  | Source : IndiaNotes.com

MCX GOLD FEB: Gold prices opened lower with gap in the last session and prices corrected for the first time after a week of rally. Prices have rallied strongly after taking strong support at its short term rising trend line. Prices are expected to correct slightly more from these levels towards immediate support placed around its short term rising trend line currently near 29800 level. On the higher side immediate resistances are placed around 30150 and 30360 levels. Action: Sell

 

MCX LEAD JAN: Lead prices opened strongly higher with gap in the last session and prices corrected slightly near closing of the session. Prices have been rising gradually in a sideways uptrend pattern since last few weeks and have been taking strong support at its short term rising trend line. Prices are expected to rise further from these levels towards immediate resistance placed around its previous top of 171.10 level. On the lower side immediate supports are placed around 165 and 162 levels. Action: Buy


NCDEX CHANA MAR: Chana prices recovered strongly in the last session after breaking out from its short term declining trend line resistance. Prices are expected to recover further from these levels towards immediate resistance placed around 3890 level and further around 23.6% Fibonacci retracement of its fall from high of 4870 till low of 3651, which is placed around 3939 level. On the lower side immediate supports are placed around 3770 and 3685 levels. Action: Buy


NCDEX RMSEED APR:
Rape/Mustard Seed prices opened strongly higher with gap in the last session and prices rose further till high of 4226 level. Prices have broken out from its short term falling trend channel pattern and are expected to rise further from these levels towards immediate resistance placed around its previous multiple tops of 4251 level. On the lower side immediate supports are placed around 4175 and 4125 levels. Action: Buy.

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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.