MCX Gold October futures have entered a profit-booking zone after a strong rally, with prices hovering near Rs 1,52,400–Rs 1,52,600 where the recent upside is meeting resistance, according to Jateen Trivedi, VP Research Analyst - Commodity and Currency at LKP Securities, in the August 14, 2026 outlook. Trivedi said the broader trend remains positive, but the chart indicates signs of consolidation at higher levels, making the current zone important for traders. For the intraday session, a sell-on-rise strategy can be considered near Rs 1,52,400–Rs 1,52,600, with a strict stop-loss above Rs 1,53,000 and a downside target of Rs 1,51,000.
Profit Booking After the Rally
According to Trivedi, MCX Gold October futures are witnessing profit booking after a strong move over the past several sessions. Prices are trading near the Rs 1,52,400–Rs 1,52,600 region, where the recent up move appears to be facing resistance. The market is now at a decisive junction: a failure to sustain above this immediate resistance zone could trigger profit booking toward lower support levels.
Technical Indicators Point to Consolidation
The technical framework laid out by Trivedi suggests momentum is cooling after the surge.
- EMA 8 & EMA 21: The short-term moving averages remain positively aligned, with the 8-period EMA above the 21-period EMA, indicating the broader trend is still bullish. However, price action has started to consolidate around the short-term EMA after the recent sharp rally.
- Bollinger Bands: Gold has been trading in the upper half of the Bollinger Band following the rally. The latest candles indicate some loss of momentum near the upper band. A failure to sustain above the recent high could result in a pullback toward the middle band, making the Rs 1,52,400–Rs 1,52,600 region a potential selling zone.
- Pivot Points: The previous day's pivot structure suggests Rs 1,52,600–Rs 1,53,000 is an important resistance area. Sustained trade below this zone would keep the near-term corrective bias intact, while a decisive breakout above Rs 1,53,000 would negate the short-term sell setup.
- RSI: The RSI is currently around 62, indicating momentum remains positive but is no longer accelerating. It has started to ease from higher levels, suggesting profit booking can emerge after the recent rally. A move below the 50 mark would provide stronger confirmation of downside momentum.
- MACD: The recent price action indicates momentum is beginning to moderate after the strong upside move. A weakening MACD structure would support the possibility of short-term consolidation and profit booking.
Intraday Trading Strategy
Trivedi's recommended approach is a sell-on-rise strategy for the intraday session:
| Parameter | Level |
|---|---|
| Strategy | Sell on Rise |
| Sell Zone | Rs 1,52,400–Rs 1,52,600 |
| Stop-Loss | Above Rs 1,53,000 |
| Target 1 | Rs 1,51,500 |
| Target 2 | Rs 1,51,000 |
Traders should avoid chasing fresh longs at higher levels and instead look for selling opportunities near resistance, according to the analyst.
Gold Price Outlook
Gold's broader trend remains constructive, but the sharp rally has pushed prices into a crucial resistance area where profit booking is likely to emerge, Trivedi said. The RSI near 62 indicates that bullish momentum remains present, although the recent consolidation suggests that upside momentum is losing strength.
As long as gold remains below Rs 1,53,000, the intraday bias favours a sell-on-rise strategy, with the possibility of a correction toward Rs 1,51,500–Rs 1,51,000. A sustained breakout above Rs 1,53,000 would invalidate the bearish intraday setup and signal a resumption of the broader bullish trend.
The report appended a disclaimer stating that the recommendations and views given by the expert are their own and do not represent the views of The Times of India.
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