MCX Gold-Jun
Event he broad outlook point towards 22230-250 initially followed by 22370/500, inability to float above 22230-22250 regions, which are initially expected, would be an early signal of corrective sell off. A direct fall below 22200 may negate the chances of recovery during the day, and if volume support, could even trigger major sell off later.
Res : (I) 22400 (II) 22250
Sup : (I) 21950 (II) 21800
MCX Silver-July
Though prices have rooms for upside till 63000, inability to clear above 58800-59000 region, which we favor initially, would considerably weakened the momentum and the trend looks for a dip towards 57000 for the day. Prices have to trade consistently above 59000 to resume reaction rallies.
Res : (I) 58800 (II) 58500
Sup : (I) 57800 (II) 57500
Res : (I) 22400 (II) 22250
Sup : (I) 21950 (II) 21800
MCX Silver-July
Though prices have rooms for upside till 63000, inability to clear above 58800-59000 region, which we favor initially, would considerably weakened the momentum and the trend looks for a dip towards 57000 for the day. Prices have to trade consistently above 59000 to resume reaction rallies.
Res : (I) 58800 (II) 58500
Sup : (I) 57800 (II) 57500
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