Intraday Technical Outlook 11 March 2022 - Geojit Financial Services
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Gold LBMA Spot
Though broad bullish outlook remains intact, a volatile with mild negative bias trading session is on cards for the day. Consistent trades below $1880 would negate our bullish expectations.
Silver LBMA Spot
Corrective selling is likely initially, but inability to move past $25 there are potential recovery upticks later
Crude Oil NYMEX
Inability to break the immediate support of $105 would call for recovery upticks for the day. Else, expect a choppy with mild negative trading session.
Gold KG Apr
A direct dip below Rs 52000 would extend the selling pressure. Otherwise there are chances of mild positive bias for the day. Anyhow, major downside turnaround point is seen at Rs 49200.
Silver KG May
Consistent trades below Rs 69000 would decline prices further. Major rallies can be seen only a break above Rs 71000.
Crude Oil Mar
Directionless trades are in cards but, inability to move past Rs 8000 it may stick with mild positive bias. A close below the same is a an early selling signal.
Natural Gas Mar
A direct drop below Rs 341 would continue selling pressure. Else, there are chances of recovery upticks.
Copper Mar
Inability to break the support of Rs 800 positive outlook remain intact. A close below 792 is a sign of weakness.
Nickel Mar
Corrective selloffs are may continue the day. A direct rise above Rs 3840 would take prices further high
Zinc Mar
Range bound with mild positive trading session is expected the day. A direct fall below Rs 302 is a weak signal.
Lead Mar
Corrective selling pressure may continue while prices stay below Rs 191. Anyhow major support is seen at Rs 180.
Aluminium Mar
Upticks continue the day initially. A direct drop below Rs 270 would negate the positive expectation and take prices lower.
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