Support and Resistance
| Type | Levels |
| Immediate Support | 143,000–142,000 |
| Strong Support | 140,000–135,000 |
| Immediate Resistance | 145,000–146,000 |
| Strong Resistance | 148,000–150,000 |
| Positional Resistance | 155,000 |
Key Trading Levels
| Level Type | Price |
| Downside Trigger | 143,000 |
| Recovery Trigger | 145,000 |
| Immediate Target | 146,000 |
| Breakout Target | 147,000 |
| Major Resistance | 150,000 |
| Strong Support | 140,000 |
Option Chain Interpretation
| Strike | Interpretation |
| 140000 | Important Put support and active lower strike |
| 143000 | Immediate downside decision zone |
| 145000 | Main battleground and highest liquid near-market strike |
| 146000 | First breakout confirmation zone |
| 148000 | Secondary Call resistance |
| 150000 | Highest Call OI and major resistance |
| 155000 | Positional Call ceiling |
| 135000 | Stronger lower Put base if 140,000 fails |
Bias: Mildly bullish above 145,000, but the setup turns bearish below 143,000. The option chain should be used only as confirmation because liquidity is uneven.
Execution Plan
| Condition | Action |
| Above 145,000 | Buy 145000 CE |
| Above 146,000 | Hold for 147,000–148,000 |
| Below 143,000 | Buy 145000 PE |
| Below 142,000 | Hold bearish trade for 140,000 |
| Between 143,000–145,000 | No Trade Zone |
| Wide bid-ask spread | Avoid the option trade |
Technical and Macro View Today
| Indicator | Signal |
| International Gold | Around US$4,040 |
| Immediate Trend | Mildly Bullish |
| Inflation Trigger | Supportive |
| Fed Rate Outlook | Less Hawkish |
| Geopolitical Risk | Supportive for Gold |
| Crude Oil Impact | Inflationary and Volatile |
| Profit Booking Risk | High near upper levels |
| Option Liquidity | Thin |
| Trading Approach | Breakout-based only |
Pro-Level Upgrade: What Big Players Do
- Avoid buying Gold merely because inflation data was favourable; wait for price confirmation above 145,000.
- Check whether the international Gold price holds above the previous session’s breakout zone before entering.
- Avoid deep out-of-the-money options even when premiums appear inexpensive.
- Prefer strikes with meaningful traded volume and narrower bid-ask spreads.
- Book partial profits near 146,000 and trail the remaining position.
- Do not average a losing Call option if Gold falls below 143,000.
- Switch to a bearish setup only after a sustained breakdown, not on an intraday spike.
- Reduce position size because geopolitical headlines can create sudden reversals.
Paresh Gordhandas View
Gold’s broader structure remains supported by softer US inflation, reduced expectations of aggressive Federal Reserve tightening and continued geopolitical uncertainty. However, the decline from around US$4,050 to US$4,040 indicates that profit booking is emerging near higher levels.
For MCX traders, 145,000 is the decisive breakout level, while 143,000 is the key downside trigger. A sustained move above 145,000 can open the way towards 146,000–148,000, but failure below 143,000 may pull Gold towards 142,000 and 140,000.
Since the 29 July option chain has thin and uneven liquidity, traders should avoid relying solely on open interest. The preferred strategy is to trade only after confirmation in the underlying Gold contract and to maintain strict stop losses.
Buy Above 145,000. Turn Bearish Below 143,000. Avoid Trading Inside the Range.