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COMMODITY TECHNICAL OUTLOOK

* MCX Gold is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.47300 levels whereas resistance is at Rs.48500- 48600 levels. Buying is advised above Rs.48000 levels for the target prices of Rs.48500 – 48600 levels

* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.66500 levels whereas resistance is at Rs.69000 – 69500 levels. Buying is advised above Rs.68200 levels for the target prices of Rs.69000 – 69500 levels

* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.5430 levels whereas resistance is at Rs.5600 – 5650 levels. Buying above 5530 is advised targeting Rs.5600-5650 levels

* MCX Copper looks strong if Rs.755 level is breached. Buying above Rs.755 is advised targeting Rs.762-770 levels

CHART OF THE DAY

MCX- NATURAL GAS (DAILY CHART)

Strategy: Intraday

* NATURAL GAS prices traded with negative bias during the last trading session

* It is having a good support of upward trend line and likely to test the same

* For Intraday session we expect NATURAL GAS prices to extend downside if price sustains below 286 levels whereas 297 and 300 will act as an immediate support levels

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