Kamal Ghorui
Gold price prediction today: Gold rates are showing a positive bias, says Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities. Here is his detailed analysis on the intraday trading outlook:Gold April futures on MCX are trading near ₹1,60,100 after witnessing a sharp rebound from intraday lows around ₹1,58,500. The recovery indicates short-covering and fresh buying interest emerging near lower levels. The short-term structure now suggests a continuation bounce, provided key support holds.
Gold Technical Setup:
EMA 8 & EMA 21:Price has reclaimed the short-term EMA cluster after a strong rebound. The 8 EMA is turning upward and attempting to cross above the 21 EMA, indicating improving intraday momentum. Sustaining above ₹1,60,000 strengthens the bullish setup.Price Structure:The chart reflects a V-shaped recovery from lower levels with higher lows forming on the 30-minute timeframe. This suggests that buyers are defending dips aggressively.RSI Indicator:RSI is near 57, comfortably above the neutral 50 level, signaling strengthening bullish momentum without entering overbought territory.MACD:MACD has turned positive with a bullish crossover and expanding green histogram bars, confirming recovery momentum.Volume & Open Interest:Rising price with stabilizing open interest suggests short-covering support, adding strength to the rebound.
Gold Intraday Trading View:
• Strategy: Buy on dips • Entry Level: ₹1,60,100 • Stop-Loss: Below ₹1,59,400 • Targets: ₹1,60,600 and ₹1,61,000 • Bias: Bullish above ₹1,60,000; weakness resumes only below ₹1,59,400.Gold’s intraday technical structure has shifted positive after reclaiming key resistance levels and forming a strong recovery pattern. Momentum indicators support further upside extension toward ₹1,60,600 and ₹1,61,000. Traders are advised to initiate long positions near ₹1,60,100, maintain a strict stop-loss below ₹1,59,400, and look for continuation gains during the session.Bias: Buy on Dips | Support: ₹1,60,100 | Target: ₹1,60,600 / ₹1,61,000(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)
