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Bullion MCX Intraday Road Map for Jun 04, 2012


Gold: closed at 30080, day trading range is expected to remain between 29400-30200; trend is sideways with bullish bias. Immediate support at 30050 failure may take it to 29900-880 failure below these zones will take it to 29700-29550 but 29400 will remain key support for short term. Stability above 30050 will support bulls and it will try to move towards 30150 to 30250 for the day.

Silver: closed at 55872 day trading range will remain between 53000-55200, trend will remain sideways. Immediate support seen at 54450 failures may take it to 54200-54000 for the day. 53900 looking good support failure may take it to 53700-53500 for the day  54600 looking good immediate support stability above 54600 will provide some power to move towards 54850-55000-55150 but 55200 will remain key resistance for the day on closing basis, close above 55200 will trigger a short term bullish attempt for 1500-2000 points.

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