BULLION OUTLOOK FOR 24-25 APRIL 2017

SELL GOLD @ 29100 SL 29250 TGT 28950-28700.  

SELL SILVER @ 41200 SL 41450 TGT 41000-40850.

Gold: Gold trading range for the day is 29930-29587. Technically market is under short covering as market has witnessed drop in open interest by -1.25% to settled at 6699 while prices up 123 rupees, now Gold is getting support at 29279 and below same could see a test of 29139 level, And resistance is now likely to be seen at 29503, a move above could see prices testing 29587. We expect gold prices to trade negative on the back of profit booking after up-move.

	R2	R1	S1		S2	TREND
GOLD	29180	29100	29000		28800	BEARISH

Silver: Silver trading range for the day is 40800-41663. Technically now Silver is getting support at 41101 and below same could see a test of 40913 level, And resistance is now likely to be seen at 41476, a move above could see prices testing 41663. We expect silver prices to trade sideways on the back of profit booking after up-move.

	R2	R1	S1		S2	TREND
SILVER	41250	41100	41000		41700	BEARISH