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Immediate support of Rs 37550 likely to hold and trigger recovery moves for the day. Unexpected drop below the same would be an early signal of major liquidation pressure.
As prices cleared the downside support of 44070 expect weakness to continue the day. A direct turn above 44650 is required to negate the bearish outlook.
Inability to break the immediate resistance of 4240 expect corrective selling pressure for the day.
Inability to move past 157 expect recovery upticks. However a direct drop below 157 would take prices lower to 152 or more for the day.
While prices stay above 432 expect continuation of upticks for the day. A direct drop below 427 would negate any bullish expectation.
As long as 1008 caps the upside, expect continuation of selling pressure for the day.
Expect a choppy trade inside 185-182 levels, breaking any of the sides would suggest fresh direction to the commodity.
If unable to break the resistance of 153.30 intraday bias may be on the downside
Weak bias may continue as long as prices stay below the SMA resistance of 134.60.
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