IGI Logo

Technical Commentary

Gold.

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

If the $69 level support remain hold the downside, expect recovery upticks for the day. A direct drop below the same is a weak signal.

Technical Commentary

Gold KG

Inability to break above Rs 48600 expect choppy trading for the day. A direct rise above the same is a short term buying signal.

Silver KG

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

Crude Oil

Prices continue to be congested inside Rs 5520 - 5270 levels initially and breaking any of the sides would suggest fresh intraday direction.

Natural Gas

If unable to break the support of 278 there are potential recovery upticks. Meanwhile, a drop below 272 is a major weak signal.

Copper

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

Nickel

Weak bias expected initially. A direct break above Rs 1590 would trigger further rallies.

Zinc

Rallies above 281 would edge prices higher. Else, there are chances of corrective downside for the day.

Lead

A rangebound trade inside 187-183 levels remains on cards. Breaking either the sides would suggest fresh short term direction.

Aluminium

Mild positive bias expected the day. However breaking Rs 217 is needed to trigger major rallies. Immediate downside reversal point is seen at 208.

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