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Technical Commentary

Gold.

Choppy with mild positive bias expected initially but a direct break above $1820 would take prices further higher. An unexpected drop below $1765 is a sign of weakness.

Silver

If the major support of $21.20 remains undisturbed expect recovery upticks in the counter. However, mild resistance is seen at $22.70.

Crude Oil

Stiff support is seen at $69 which if holds there chances of recovery upticks. Else, choppy with negative bias expected.

Technical Commentary

Gold KG

A likely upswing initially but breaking Rs 48800 is needed to continue the same. A direct break of Rs 47700 is a weak signal.

Silver KG

Recovery rallies may continue while Rs 60300 support restricts further downside.

Crude Oil

It needs to break above Rs 5570 to trigger fresh rallies. Else, there are chances of corrective selling pressure but major support is placed at Rs 5270.

Natural Gas

Inability to break the support of Rs 284 there are potential upside moves for the day. A close below 275 is major weak signal.

Copper

Intraday trend continuous to be firm as long as the support of Rs 732 remains undisturbed.

Nickel

Prices remain choppy inside Rs 1515-Rs 1590 levels and breaking either the sides would suggest fresh short term directions.

Zinc

Bullish outlook remain intact as long as the support of 280 holds the downside. Major support is seen at Rs 265.

Lead

Breaking Rs 187 is needed to continue further rallies. Else, expect weak bias for the day.

Aluminium

Break above Rs 221.50 is needed to continue bullish outlook. Otherwise there are chances of corrective selling pressure.

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