BULLION OUTLOOK FOR 23-24 MARCH 2017

BUY GOLD @ 28850 SL 28700 TGT 28950-29100.

 BUY SILVER @ 41300 SL 41000 TGT 41500-41900.

Gold: Gold trading range for the day is 28746-28998. Technically market is under fresh buying as market has witnessed gain in open interest by 7.46% to settled at 4434 while prices up 34 rupees, now Gold is getting support at 28815 and below same could see a test of 28746 level, And resistance is now likely to be seen at 28941, a move above could see prices testing 28998. Gold Future is trading into positive zone and traders can hold long positions until Gold Future closes below 28618 levels. Traders can initiate long positions on every dip until Gold Future closes below 28618 levels.

	R2	R1	S1		S2	TREND
GOLD	29000	28900	28800		28650	BULLISH

Silver: Silver trading range for the day is 40930-41500. Technically  Now Silver is getting support at 41082 and below same could see a test of 40930 level, And resistance is now likely to be seen at 41367, a move above could see prices testing 41500. Silver is trading into positive zone and traders can go long at every dip or hold long positions until Silver closes below 40733 levels. Traders can go short once Silver Future closes below 40733 levels. 

	R2	R1	S1		S2	TREND
SILVER	42000	41500	41150		41000	BULLISH