Fundamental Q News and Triggers

• Gold prices recovered from a low of Rs 56000 last week as they were trading in an oversold zone. Geopolitical concerns generated a new wave of global risk aversion, aiding the safe-haven gold price to rise.

• In response to an unprecedented attack on Israeli towns by the Hamas militant group in Gaza, Israel launched airstrikes on Gaza and declared war on the Palestinian region on Saturday morning.

 

Technical Triggers

• From current levels of Rs 57500, it appears that this momentum will likely continue in the short term, at least to the next resistance levels of Rs 58000 and 58500.

• While silver can be bought near Rs 68000 for short-term targets of Rs 70000 and Rs 72000.

Support and Resistance

 

 

 

 

Disclaimer: This report contains the opinion of the author, which is not to be construed as investment advices. The author, Directors, other employees of Augmont Enterprise Private Ltd. and its affiliates cannot be held responsible for the accuracy of the information presented herein or for the results of the positions taken based on the opinions expressed above. The above-mentioned opinions are based on the information, which is believed to be accurate, and no assurance can be given for the accuracy of the information. The author, directors and other employees and any affiliates of Augmont Enterprise Private Ltd cannot be held responsible for any losses in trading. In no event should the content of this research report be construed as an express or an implied promise, guarantee or implication by or from Augmont Enterprise Private Ltd. that the reader or client will profit or the losses can or will be limited in any manner whatsoever. Past results are no indications of future performance. Information provided in this report is intended solely for informative purposes and is obtained from sources believed to be reliable. The information contained in this report is no way guaranteed. No guarantee of any kind is implied or possible where projections of future conditions are attempted. We do not offer any sort of portfolio advisory, portfolio management or investment advisory services. The reports are only for information purpose and are not to be construed as investment advices.