For Intraday session immediate support is at 61900 - 61600 level - Monarch Networth Capital
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COMMODITY TECHNICAL OUTLOOK
* MCX Gold is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.52600 - 52400 levels whereas resistance is at Rs.53000 - 53200 levels.
* MCX Silver is likely to trade with negative bias during today’s trading session. Support is at Rs.61900 - 61600 levels whereas resistance is at Rs.62700 - 63000 levels.
* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.6240 - 6140 levels whereas resistance is at Rs. 6450 - 6550 levels.
* MCX Copper is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.668 - 664 levels whereas resistance is at Rs.677 - 681 levels
CHART OF THE DAY
Strategy: Intraday
* SILVER prices traded with negative bias during the last trading session; and prices are trading below downward resistance trend line.
* For Intraday session immediate support is at 61900 – 61600 level and resistance at 62700 - 63000. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 62700 – 63000 levels on lower side.
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