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Intraday Technical Outlook 29 July 2021 - Geojit Financial
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Gold Mini Aug/ LBMA Spot Gold
Recovery rallies expected today as long as the support of $1780 remain undisturbed. However, the immediate upside obstacle of $1835 needs to be cleared for triggering sharp rallies in the counter. A direct drop below $1765 is an early signal of major liquidation pressure. MCX GoldM Aug Res: 48400 Support: 46850.
Silver Mini Aug/ LBMA Spot Silver
While prices stay above the support of $24.20 chances of recovery upticks are still on the cards. A direct drop below the same is a signal of long liquidation pressure. MCX SilverM Aug: Res at Rs 68800. Sup: 65200.
Copper Aug
A range bound trading with mild negative bias expected initially. An unexpected break of 734 is a strong selling signal.
Nickel Aug
Bullish outlook to continue while the support of 1450 remain hold the downside. Major turnaround point is seen at 1390.
Lead Aug
Weakness likely to continue while prices stay below 179. A direct rise above 181 is a buying signal.
Zinc Aug
Bullish view may extend further as long as the support of 242 remain undisturbed. Downside turnaround point is placed at 236.
Aluminium Aug
Inability to break the support of 198 there are chances of recovery rallies. Else, expect a choppy with negative bias trading.
MCX Crude Oil Jul/NYMEX Crude Aug
Recovery upticks are likely while prices stay above $72.5. However, next stiff resistance is seen at $75.50. A direct drop $below 70.50 may negate the view and take price slower, but major liquidation can be seen only a break of $65. MCX Aug: Res at Rs 5520 / Support: Rs 5140.
Natural Gas Aug
If the resistance of 302 remain capped, expect continuation of selling pressure for the day. Else, there are chances of recovery rallies.
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