+91 -
info@nifmresearch.com

MCX Gold Technical Outlook For traders

MCX Gold April contract closed at 28232 changed by 134 rupees from yesterday closing price. Gold headed a low of 28210 and closed near day low.

Supportive and Resistance Area:

Today Support will be at 28210-180, retest to these levels can’t be ruled out but stability below 28200 will result in a retest to 28100-28050 area. Key support will be at 28000.

Today Resistance is now seen near 28464 if sustained move above this level will bring retest to 28550-600 areas. Key resistance will remain at 28650. Today support will be at 28210-180, retest to these levels can’t be ruled out but stability below 28200 will result in a retest to 28100-28050 zones. 

The trading range for the day between 28000 - 28650.

Recommendation:

  • Buying on declines around 28300-250 with the stop loss below 28200 for targeting 28450-28550 and more upside might be appropriate.
  • In alternative scenario buying above 29470 with the stop loss below 28350 for targeting 28580-650 and more upside might be appropriate.
  • Selling below 28180 with the stop loss above 28270 for targeting 28100-28000 and more downside might be appropriate.

NOTE: This information is just for education purpose. We are not the responsible for any profit or loss of your trading. We want to improve your knowledge. Join NIFM Technical Analysis Course. Call NIFM: 9910300590

Go Back



Are you stuck in Buying/Selling decision of stocks…. We are just a call away


Contact us