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Technical Commentary

Gold.

A congested trade inside $1800-$1765 levels remains on cards and breaking either the sides would suggest fresh short term direction.

Silver

Weak bias may continue but the support of $21.20 needs to be cleared for triggering more bearish action.

Crude Oil

An upside turnaround is possible as long as the support of $66 restricted further downsides. A direct drop below the same would extend liquidation pressure.

Technical Commentary

Gold KG

Inability to break above Rs 48600 corrective selloffs are likely initially. A direct rise above the same is a short term buying signal.

Silver KG

Prices remains choppy with negative as long as Rs 63200 restrict further upsides. A close below Rs 60300 is a strong bearish signal.

Crude Oil

A direct rise above Rs 5520 would take prices higher. Else, there are chances of corrective selling pressure but major support is placed at Rs 5270.

Natural Gas

Immediate support is seen at $275 if it holds expect recovery upticks for the day. A direct drop below would trigger further liquidation.

Copper

Consistent trades above Rs 737 would take prices further higher. Immediate downside reversal point is placed at Rs 714.

Nickel

A direct break above Rs 1590 would trigger further rallies. Otherwise corrective selloffs are expected.

Zinc

Immediate support of Rs 265 likely to restrict further liquidation in prices. However, firm resistance is seen at Rs 278.

Lead

A rangebound trade inside 187-183 levels expected initially. Breaking either the sides would suggest fresh short term direction.

Aluminium

Immediate upside hurdle of Rs 217 is needed to continue rallies. Else, choppy with negative bias in cards.

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