IGI Logo

Gold Mini Mar/ LBMA Spot Gold

Momentum continue to be on the weaker side as long as prices stay below $1720. Next immediate and strong support is seen at $1660, a direct break of which could extend the bearish momentum in next sessions as well. Immediate turnaround point is seen at $1820. MCX GoldM Mar Res: 45410 Support: 44250.

Silver Mini Apr/ LBMA Spot Silver

A direct break of $24.50 is required to continue weakness in the counter. Else there are chances of recovery upticks for the day. MCX Silver Apr: Res at Rs 68800. Sup: 65300.

Copper Mar

A direct break of 660 would trigger another round of corrective selling pressure. However, consistency above 697 could negate the view and take prices higher.

Nickel Mar

If 1160 hold the downside, expect recovery upticks for the day. Anyhow further weakness is seen only a break of 1140

Lead Mar

Expect a choppy with negative trading as long as 168 caps the upside. A direct drop below 160 would trigger another round of selling pressure.

Zinc Mar

Selloffs may continue as long as prices stay below 220. Immediate trend reversal point is placed at 225.

Aluminium Mar

Prices continue to be choppy inside 178-171 levels initially and breaking any of the sides would suggest fresh direction to the commodity.

MCX Crude Oil Mar/NYMEX Crude Mar

Bullish outlook remain intact and the momentum would extend further as it hold the support of $64. Next upside targets are seen at $68 initially followed by $72/77 levels. A close below $58 is a signal of reversal. MCX Mar: Res at Rs 4860 / Support: Rs 4520.

Natural Gas Mar

Selloffs may continue while prices stay below 200. Major upside turnaround point is placed at 209.

To Read Complete Report & Disclaimer Click Here

Please refer disclaimer at www.geojit.com
SEBI Registration number is INH200000345

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