IGI Logo

Technical Commentary

Gold

A direct break below the support of $1765 would extend the selling pressure. Else, there are chances of recovery upticks in the metal.

Silver

Prices continue to trade inside $25.50-22.50 levels initially. However, breaking the major support of $22.50 would attract more bears into the counter.

Crude Oil

Intraday outlook remains on the bearish side but breaking the support of $64 is a signal of further liquidation pressure in the commodity.

Technical Commentary

Gold KG

Prices continue choppy with negative while it stays below the support of 48600. Anyhow major support is seen at 47100.

Silver KG

As long as prices stay below Rs 64500 likely to continue weak bias. A direct rise above $67000 is a positive signal.

Crude Oil

As long as prices stay below Rs 5100 would extend selling pressure. Immediate upside turnaround point is seen at Rs 5480.

Natural Gas

Further selloffs are seen only a break of 338. Else, there are chances of recovery upticks in the cards.

Copper

Choppy trading is likely as long as the 737 remains caps the upside. Major support is placed at 714.

Nickel

Mild negative bias trading expected initially. However a direct break above Rs 1600 is needed to trigger fresh rallies.

Zinc

If the support of 265 remains holds major liquidation pressure is less likely. However firm resistance is seen at 278.

Lead

A direct break of Rs 182 would continue selling pressure. Otherwise recovery upticks are on cards.

Aluminium

Consistent trades below Rs 210 expect weakness to continue the day as well. Further rallies are seen only a break of 218.

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