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Technical Commentary

Gold

A turnaround is possible if the support of $1780 remain hold the downside. However, a direct drop below the same would liquidate prices further.

Silver

If the $23 support remains hold, there are chances of recovery upticks. Anyhow, major rallies are unlikely if it unable to close above $25.50.

Crude Oil

A turnaround is possible if the support of $74 restrict further downside. Major resistance is seen at $81.

Technical Commentary

Gold KG

Support of Rs 47000 if hold, expect recovery upticks. Else, it may continue with weak bias for the day.

Silver KG

Consistent trades below Rs 62000 would liquidate prices further. Otherwise, chances of recovery upticks in the counter.

Crude Oil

As long as prices stay above 5700 would extend recovery upticks. Further liquidation in prices can be seen if it break Rs 5600.

Natural Gas

Inability to move past 345 there are chances of recovery upticks in the counter. An unexpected drop below the same is a weak signal.

Copper

Further selloffs can be seen only a close below 725. Else, potential upside is on the cards for the day.

Nickel

Upticks may continue while Rs 1530 hold the downside. Consistent trades below the same is a weak signal.

Zinc

Inability to break 278 intraday sentiment likely to be on the downside. Consistent trades above the same would negate the view and take prices higher.

Lead

While prices stay below Rs 186 liquidation pressure likely to continue the day. Recovery upticks can be seen only a break above 190.

Aluminium

Expect a shoppy trade inside 215-208 levels initially and breaking any of the sides would suggest fresh direction for the commodity.

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