MCX GOLD;Trade Set up and Targets

Key levels

Immediate support (first line): ₹108,550

Lower support zone: ₹108,000 — if price closes below this, bearish pressure increases.

Near-term resistance zone: ₹109,440 — watch for rejections here.

Upper resistance / new-high trigger: ₹110,000 — daily close above this signals fresh bullish extension.

Psychological round: ₹111,000 (next larger objective if momentum continues)

(These are the horizontal lines on the chart and the levels I used to build targets.)

Technical read :

RSI(14) in my chart is in neutral-to-mildly-overbought area — watch for divergence or a close below 50 for weakening momentum.

Trade setups & targets

Bullish (momentum continuation)

Setup: Daily close above ₹110,000 (with follow-through volume / higher open next day).

Entry: on a clean daily close above 110,000 or a pullback to 109,400–109,600 that holds.

Targets: 1) ₹111,000 (first), 2) ₹112,400–₹113,000 (secondary extension).

Stop: below ₹108,900 (or tight intraday protective stop if entering on breakout).

Range / neutral (failure at resistance)

If price is rejected in the 109,400–110,000 zone: consider short with targets 108,550 then 108,000.

Stop: above 110,200 on a rejection scalp.

Bearish (momentum shift)

Trigger: daily close below ₹108,000 (sustained).

Short targets: 107,000 then 105,500.

Stop: above 108,800 (or recent EMA20).

Intraday scalp idea

Look for support/resistance confluence near 108,550 (buy if strong bounce and intraday momentum) or a quick rejection around 109,440–110,000 for a 200–500 point scalp, with tight stops.

Risk management & rules (short)

Risk no more than 1–2% of trading capital per trade.

Prefer daily closes for swing decisions; intraday trades need tighter stops.

Watch macro cues — US rates, USDINR and global gold (COMEX) often influence MCX moves.(For educational purpose only)