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COMMODITY TECHNICAL OUTLOOK

* MCX Gold is likely to trade sideways to positive bias during today’s trading session. Support is at Rs.48000 levels whereas resistance is at Rs.48400- 48700 levels.

* MCX Silver is likely to trade with positive bias during today’s trading session. Support is at Rs.65800 levels whereas resistance is at Rs.66500- 67000 levels. Buying above 66500 is advised targeting Rs.67000 – 67300 levels.

* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.6250 levels whereas resistance is at Rs.6400 – 6450 levels. Buying above 6400 is advised targeting Rs.6450 – 6438 levels.

* MCX Copper is likely to trade sideways to positive bias during today’s trading session. Support is at Rs.765 levels whereas resistance is at Rs.774 – 780 levels.

CHART OF THE DAY

Strategy: Intraday

* Crude Oil prices traded with positive bias during last trading session

* It was closed above upward sloping trend line in intraday trading session.

* For Intraday session immediate support is at 6250 – 6200 level and resistance at 6400 – 6450. If price sustains above the immediate resistance level of 6400 level then it will provide further momentum towards 6450 – 6480 levels on the higher side.

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