Gold to recover in this week

PRECIOUS METALS

After 14.30 HRS IST, bullion shall take support. And from there, it shall move up gradually.

Next day is bullish for bullion. On Wednesday & Thursday as well, trend is in favor of bullion (mix to positive).

On Friday, a correction may be observed (especially around US hours).

Gold has support at 1,272. If 1,272 is breached, it may drop to 1,265.  Silver has support at 19.30. If 19.30 is breached, it may drop to 19.00.

As far as our analysis is concerned, Gold could go up to 1,305-1,320 while Silver could go up to 19.95-20.20.

INDUSTRIAL METALS

Industrial metals shall be positive till Thursday.

On Friday, a correction may be seen.

INDIAN STOCK MARKET

After 10.30 HRS IST, market shall trade positive.

Indian market shall be positive for today and next day.

On Wednesday-Thursday, a correction may be observed.

On Friday, market shall remain closed owing to Ganesh Chaturthi.

In this week, NIFTY could go up to 8,040 while it could drop down to 7,820.

TRADING RANGE:

#NIFTY FUT: 7,880-7,980

#BANK NIFTY:15,600-15,900

This week is supportive for following stocks:

– OPTO CIRCUIT

– ONGC

– INFOSYS

– HEXAWARE

– HCL TECH

– M&M

– MARUTI

– HERO MOTORS

– DIVIS LAB

– RANBAXY

–  AUROBINDO PHARMA

–  SBI

–  TCS

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