Government may reduce Gold import duty from 10% to
2% to support Indian Manufacturer on Going make in India plan.
Source: Economic
Times
If this happen then we will see vertical crash in
Gold prices but trade with levels only.
Gold
Yesterday.... We recommended selling in Gold below
26460 with stop loss of 26570. It slipped and just made a low of 26370. We are
holding from 26725 mark
Now what to expect???
Below 26330.... will see further panic till
26290---26240 mark. Three consecutive closes + weekly close below 26240 will
take to 26080---25930 and then to 25700 mark
Else it could test its resistance level of
26570----26730 again
Overall trend looks extreme weak on charts and any
sharp rise will be selling opportunity but trade with levels only
Silver
Yesterday we recommended selling in Silver around
36300. Booked part profit around 36000
Now what to expect???
Support at 35800 and Resistance at 36300---36700
Still looks weak and could test its support level
of 35800. Two consecutive closes below 35800 will see free fall till
35300---34800 and then to 34000 mark
Else it could test its resistance level of
36300---36700 again
Further upside rally seen only close above 36700
mark
Trade with levels only.
More will be update soon!!
