The current exchange price is around 1970 we can see an intraday movement of around Rs 60-70 on the upside and a price range of around Rs 2050-2060 levels. So the investor can hold intraday positions and he can see those levels of Rs 2060 or Rs 2070 coming in the near future, all said and done we are still bearish on the longer term but technically it looks like that we can see Rs 2050-2060 levels by the end of the day.
On Gold
We have seen very volatile sessions in the last couple of days for gold prices in internationally and Indian markets because of the rupee depreciation. I see that the markets can bounce back but these are not the right levels to buy in quoting at around Rs 15,490 levels. I would recommend a sell at these levels on the higher levels of around Rs 15,500 levels and once can see a target of around 15,350 to around 15,400 levels with a stop loss of Rs 15,720 but a sell is recommended rather than being buying at these levels and selling on the higher levels.
