INR/USD rose up to 54.750 after
positive inflation data which however momentarily brought back some
hope in the market but these hopes soon vanished. Bullion metals on
MCX are trading lower as rupee is getting strong against dollar.
MCX Gold is currently trading near its
crucial support level of 29150 and if Gold shows a recovery move
around 29150-29200, traders can buy this commodity for the targets
of 29300-29450-29600 level for near term. Do keep a strict stop loos
near 28950 level.
MCX Silver is also trading near the
support level of 52250, If Silver manages to stay above this level,
one can buy silver for the targets of 52750-33200 level.
