As per our previous recommendation dated 11th February 2014 of going Long on MCX Gold , our both target has achieved price made a high of Rs 30218 against target of Rs.30000.
Hence, in our view, profits on Long positions (as per our previous recommendation) should be booked at the current levels (cmp Rs. 30157) and fresh Long positions should be initiated on dips. The medium-term price trend still looks bullish and the upside move is now likely to extend further towards the previous Top at Rs.31000/31164 level.
The 14-period RSI is above the support line and continues to tread higher indicating bullish momentum over the medium term.