Powered by: Motilal Oswal
05-03-2023 10:30 AM | Source: Geojit Financial Services Ltd
Commodity Intraday Technical Outlook 03 May 2023 - Geojit Financial Services
News By Tags | #473 #4943

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel

Gold LBMA Spot

While prices stay above $2010 expect recovery upticks initially. A direct drop below $1965 may negate the trend.

Silver LBMA Spot

Break above the resistance of $26 would expect recovery upticks. Else, there are chances of corrective selling pressure.

Crude Oil NYMEX

Weak bias to extend while prices stay below Rs 6050. Recovery upticks cab be seen only a consistent trades above Rs 6150.

Gold KG Jun

While above Rs 60200 buying momentum may continue the day. Unexpected drop below Rs 59500 is a sign of weakness.

Silver KG May

It is required to break Rs 74000 to trigger major selling pressure. Else, recovery momentum is in the cards for the day.

Crude Oil May

Weak bias to extend while prices stay below Rs 6050. Recovery upticks cab be seen only a consistent trades above Rs 6150.

Natural Gas May

A mild turn around is expected as long as Rs 178 remains undisturbed. However, stiff resistance is seen at Rs 192.

Copper May

A direct break below Rs 735 would see extension of weakness. Else, mild upticks are on the cards for the day.

Nickel May

Expect choppy with thin volume trading in the near future.

Zinc May

Choppy trading with mild upside bias expected as long as the support of Rs 232 remains undisturbed.

Lead May

Further weakness is seen only a break of Rs 181. Else, recovery rallies is on the cards.

Aluminium May

Expect a choppy trade inside Rs 214-208 levels and breaking any of the sides would suggest fresh directional moves for the day.

 

 

To Read Complete Report & Disclaimer Click Here

 

For More Geojit Financial Services Ltd Disclaimer https://www.geojit.com/disclaimer 

SEBI Registration Number: INH200000345

 

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