MENU

Published on 27/03/2020 11:08:52 AM | Source: Geojit Financial Services Ltd

Intraday Technical Outlook 27 March 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

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 Apr/ LBMA Spot Gold

Upticks likely to continue as long as prices stay above $1585. However, intraday resistance is seen at $1635 which needs to be cleared to trigger sharp rallies. A close below $1445 is a signal of major liquidation pressure. MCX GoldM Apr: Res at Rs 43800. Sup: 41950.

 

Silver Mini Apr/ LBMA Spot Silver

Pullback rallies may continue as long as prices stay above $12.50. However, an unexpected drop below $11.58 would trigger liquidation pressure which could target $9.90 or even more later. MCX Feb: Res at 43520 Sup: 39220.

 

Copper Apr

Expect a choppy with mild negative bias trade inside 396-348 levels initially. Breaking any of the sides would suggest fresh direction to the commodity.

 

Nickel Apr

Inability to break 835 would trigger recovery moves towards 878 initially. A direct rise above the same is required to continue the momentum.

 

Lead Mini Apr

If prices stay below 135 expect weakness to continue with stiff support is seen at 128 then 124.

 

Zinc Mini Apr

Expect mild recovery in prices as long as prices stay above 138. A direct dip below the same would continue selling pressure.

 

Alumini Apr

Pullback rallies may continue as prices stay above 133. Unexpected drop below 133 would be an early signal of renewed bearishness.

 

Crude Oil Apr/ NYMEX Crude

While prices stay above $19.80, expect recovery upticks to continue the day. Next upside obstacle is seen at $25.50, break of the same is required to strengthen the buying momentum towards $28/33 levels. However, an unexpected drop below $19 would trigger further liquidation pressure in the counter. MCX Mar: Res at 2070/ Support: 1840.

 

Natural Gas Apr

Expect a choppy trade inside 117-129 levels initially. Breaking any of the sides would suggest fresh direction to the commodity.

 

To Read Complete Report & Disclaimer Click Here
 

 

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

 

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