MENU

Published on 21/09/2020 12:21:18 PM | Source: Geojit Financial Services Ltd

Intraday Technical Outlook 21 September 2020 - Geojit Financial

Posted in Commodities Reports| #Commodity Tips #Geojit Financial Services Ltd

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel  https://t.me/InvestmentGuruIndia 

Download Telegram App before Joining the Channel

Gold Mini Sep/ LBMA Spot Gold

Prices continue to be choppy inside $1975- 1920 regions initially. Breaking any of the sides would suggest fresh direction to the commodity. Anyhow, a direct drop below $1880 is a signal of reversal. MCX Gold Oct Res: 52120 Support: 50940.

 

Silver Mini Nov/ LBMA Spot Silver

Resistance of $27.60 needs to be cleared for continuation of further upticks in the counter. Else, may see mild weakness in the counter for the day. An unexpected drop below $25.80 is a signal of continuation of selling pressure. MCX SilverM Nov: Res at Rs 71350. Sup: 66150.

 

Copper Sep

Consistent trades above 528 would take prices further higher. Else, likely for a corrective selling for the day. A direct drop below 512 is a signal of reversal.

 

Nickel Sep

A direct break above 1112 is required to continue buying sentiments in the counter. Else, there are chances of more selling pressure.

 

Lead Sep

Expect a choppy trade inside 151-145 levels initially and breaking any of the sides would suggest fresh direction to the commodity.

 

Zinc Sep

As long as prices stay above 195 buying momentum would continue. However, a close below 186 is a signal of reversal.

 

Aluminium Sep

Support of 144 continue to hold the downside and expect recovery moves for the day. A direct break of the same is a signal of liquidation pressure.

 

MCX Crude Oil Sep/NYMEX Crude Oct

Immediate resistance of $42 required to be cleared for continuation of further rallies. Else, expect corrective selling pressure for the day. MCX Sep: Res at Rs 3120 / Support: Rs 2860.

 

Natural Gas Sep

An upside turnaround is possible as long as prices hold the downside support of $1.94. However, an unexpected break of $1.88 would extend liquidation pressure.

 

To Read Complete Report & Disclaimer Click Here

 

For More Geojit Financial Services Ltd Disclaimer https://www.geojit.com/disclaimer 
SEBI Registration Number: INH200000345

 

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer