Published on 19/04/2021 12:12:42 PM
ZINC
Technical outlook
Zinc April future 4hr Chart has formed "Ascending broadening wedge" pattern. The last few sessions ended up sideways mode along with some corrections inside the channel. The market is expected to continue on the bearish term based on the current price action, once the same breaks below a key support holding near 227.50. The downside rally could be testing all the way up to 226-224.50 levels in the upcoming sessions. Alternatively, if the market struggles to break the support level, then it might retest the same and revise the trend to bullish/sideways. Key resistance holds at 230.50. A slide to 232 is also a possibility if the price makes or break above the current resistance level.
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SEBI Registration number is INZ000078632
Published on 19/04/2021 12:12:23 PM
SILVER
Technical outlook
MCX Silver May futures technical chart has taken the formation of "Rising channel" pattern in 4hr time frame. Last few sessions ended up in sideways mode along with some corrections inside the channel. The market is expected to continue on bearish momentum based on the current price action, once the same break below the key support level holding near 68400. The downside rally could be extending all the way up to 67600-66800 levels in the upcoming sessions. An alternative scenario indicates that if the market struggles to break the support level, then it might retest the same and revise the trend to bullish/sideways mode once again. Key resistance holds near 69200. A slide to 70000-70800 is also a possibility if the price makes or break above the current resistance level.
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SEBI Registration number is INZ000078632
Published on 19/04/2021 12:12:11 PM
NATURAL GAS
Technical outlook
Natural gas 2hr chart has formed “Rising wedge” pattern. The last few sessions ended up sideways mode along with some corrections inside the channel. The market is expected to continue on the bullish momentum based on the price action, once break above a key resistance holding near 201. The upside rally could be testing all the way through 204-207 levels in the upcoming sessions. Alternatively, if the market struggles to break the resistance level, then it might retest the same and turn bearish/sideways once again. Key support holds at 198. A slide to 195-192 is also a possibility if the price makes or break below the current support level.
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SEBI Registration number is INZ000078632
Published on 19/04/2021 12:11:55 PM
COPPER
Technical outlook
Copper April future 2hr chart has formed "Rising channel" pattern. The last few sessions ended sideways mode along with some corrections inside the channel. The market is still expected to continue on bearish momentum based on the current price action, once the same break below the key support holding near 708. The downside rally could be testing all the way up to 705-702 levels in the upcoming sessions. Alternatively, if the market struggles to break the support level, then it might revise the trend to bullish/sideways mode. Key resistance holds at 714. A slide to 717 is also a possibility if the price makes or break above the current resistance level.
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SEBI Registration number is INZ000078632
Published on 19/04/2021 12:11:10 PM
Technical outlook
MCX Crude Oil technical chart has taken the formation of "Ascending broadening wedge" pattern in 4hr time frame. Previously few sessions ended up in sideways mode along with some corrections inside the channel. As per the technical aspects based on the current price action, the market is expected to continue on bearish trend, once the same break below a key support level holding near 4700. The downside rally could be testing all the way up to 4640-4590 levels in the upcoming sessions. An alternative scenario indicates that if the market struggles to break the support level, then it might retest the same and revise the trend to bullish/sideways mode once again. Key resistance holds near 4750. A slide to 4810- 4860 is also a possibility if the price makes or break above the current resistance level.
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SEBI Registration number is INZ000078632
Published on 19/04/2021 12:10:31 PM
Technical outlook
MCX Gold June futures technical chart has taken the formation of “Rising channel” pattern in 4hr time frame. Last few sessions ended up in sideways mode along with some corrections inside the channel. Based on the current price action, market is expected to continue on bullish momentum once the same breaks above the key resistance level holding near 47400. The upside rally could possibly test up to 47700- 48000 levels in the upcoming sessions. An alternative scenario indicates that if the market struggles to break the resistance level, then it might retest the same and revise the trend to bearish/sideways mode once again. Key support holds near 47100. A slide to 46800-46500 is also a possibility if the price makes or break below the current support level.
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SEBI Registration number is INZ000078632
Published on 16/04/2021 10:08:36 AM
GOLD
Technical outlook
MCX Gold June futures technical chart has taken the formation of “Descending broadening wedge” pattern in daily time frame. Last few sessions ended up in sideways mode along with some corrections inside the channel. Based on the current price action, market is expected to continue on bullish momentum once the same breaks above the key resistance level holding near 47300. The upside rally could possibly test up to 47600-47900 levels in the upcoming sessions. An alternative scenario indicates that if the market struggles to break the resistance level, then it might retest the same and revise the trend to bearish/sideways mode once again. Key support holds near 46700. A slide to 46400 is also a possibility if the price makes or break below the current support level.
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SEBI Registration number is INZ000078632
Published on 15/04/2021 11:55:53 AM
ZINC
Technical outlook
Zinc April future 4hr Chart has formed "Ascending broadening wedge" pattern. The last few sessions ended up sideways mode along with some corrections inside the channel. The market is expected to continue on the bullish term based on the current price action, once the same breaks above a key resistance holding near 228. The upside rally could be testing all the way up to 229.50-231 levels in the upcoming sessions. Alternatively, if the market struggles to break the resistance level, then it might retest the same and revise the trend to bearish/sideways. Key support holds at 226. A slide to 224.50-223 is also a possibility if the price makes or break below the current support level
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SEBI Registration number is INZ000078632
Published on 15/04/2021 11:55:40 AM
SILVER
Technical outlook
MCX Silver May futures technical chart has taken the formation of "Ascending broadening wedge" pattern in daily time frame. Last few sessions ended up in sideways mode along with some corrections inside the channel. The market is expected to continue on bullish momentum based on the current price action, once the same break above the key resistance level holding near 67800. The upside rally could be extending all the way up to 68600-69400 levels in the upcoming sessions. An alternative scenario indicates that if the market struggles to break the resistance level, then it might retest the same and revise the trend to bearish/sideways mode once again. Key support holds near 66200. A slide to 65400 is also a possibility if the price makes or break below the current support level
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SEBI Registration number is INZ000078632
Published on 15/04/2021 11:55:25 AM
NATURAL GAS
Technical outlook
Natural gas 4hr chart has formed “Ascending broadening wedge” pattern. The last few sessions ended up sideways mode along with some corrections inside the channel. The market is expected to continue on the bearish momentum based on the price action, once break below a key support holding near 196. The downside rally could be testing all the way through 193-190 levels in the upcoming sessions. Alternatively, if the market struggles to break the support level, then it might retest the same and turn bullish/sideways once again. Key resistance holds at 199. A slide to 202-205 is also a possibility if the price makes or break above the current resistance level.
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SEBI Registration number is INZ000078632
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