MAGI METALS (P) LTD, COCHIN

Gold News Letter 15th March, 2024

The XAU/USD pair hovers around $2,162 and seems poised to extend its slide. Still, to confirm so, the pair would need to break
below $2,145.17, the 23.6% Fibonacci retracement of the latest bullish run measured between $1,984.03 and $2,195.22. The next
Fibonacci support and a potential bearish target is located at $2,114.53.

XAU/USD daily chart shows technical indicators heading firmly north, although still at extreme overbought readings, supporting the
case for a steep correction but far from suggesting the end of the bullish trend. At the same time, moving averages remain far below
the current level, with the 20 Simple Moving Average (SMA) heading north almost vertically above the longer ones and converging
with the 50% retracement of the aforementioned run at around $2,089.90.

The 4-hour chart supports the case of a bearish extension. XAU/USD trades below a now mildly bearish 20 SMA, while technical
indicators aim south within negative levels. Finally, the 100 and 200 SMA maintain their firmly bullish slopes, in line with the
dominant trend and suggesting the ongoing decline may well be corrective.

Support levels: $2,145.10 $2,134.70 $2,119.94

Resistance levels: $2,172.00 $ 2,189.00 $2,195.30

GOLD TREND & INTRADAY LEVELS – INDIAN MARKET

Trend updated for-Mar/15/2024.CMP-65595 The Gold is in perfect uptrend .Currently Gold is in strong uptrend and the trend is
supported with good volume The open interest is not increasing with trend . Cautious point is buying at higer levels seems
decreasing. The Gold is now trading in overbought level. The Gold is now trading in overbought level. The oscillator is showing BUY
signal For short term The current position is BUY .Positionally Support for the Gold is 64988-64016-63074-62566-62463-61957-.
Immediate resistance for Gold is 66621

Short term and Intraday Level of GOLD

Currently Gold is in HOLD SHORT position Gold is in down trend so buy above 65972.0 The sell will again come if below 65382.0
The oscillator is showing SELL signal
Intraday Trend- Buy is advised above 65980.3 with a stop at 65337.3 Below 65210.7 go for sell
Intraday Resistance of GOLD are 65819 : 66005 : 65979.7 : 66033.2
Intraday Support of GOLD are 65371 : 65185 : 65211.4 : 65158.3

INTRADAY LEVEL OF GOLD PROBABLE HIGH PROBABLE LOW

R4 66191 BULL 66112.0 65203.0
R3 65980 UP BREAKOUT 65885.0 65431.0
R2 65903 STOP LEVEL LEVEL FOR LONG LEVEL FOR SHORT
R1 65853 SELL 65972.0 65422.0
PIVOT 65642 5 DAY HIGH 66356.0
S1 65337 BUY 5 DAY LOW 65382.0
S2 65287 STOP AVG VOLUME 5026
S3 65210 DOWN BREAK OUT LAST DAY Bear
S4 65000 BEAR HIGH 65843.0
TRADING POSTION BUY LOW 65434.0