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Technical Commentary

Gold

A turnaround is possible as long as the support of $1780 hold the downside. An unexpected drop below the same would negate the trend and liquidate further.

Silver

Expect a choppy trade inside $25.50-23 levels initially. Breaking any of the sides would suggest fresh short term direction.

Crude Oil

Choppy with negative bias trading expected inside $79-75 levels initially and either side breakout would guide further short term direction.

Technical Commentary

Gold KG

Prices continue choppy with negative while it stays below the support of 48600. Anyhow major support is seen at 47100.

Silver KG

Inability to move past Rs 64500 likely to trigger recovery rallies. A direct drop below the same is a major selling signal.

Crude Oil

As long as prices stay below Rs 5850 would extend selling pressure. Immediate upside turnaround point is seen at Rs 5980.

Natural Gas

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

Copper

If the support of Rs 737 restrict further downside, expect recovery rallies for the day.

Nickel

Choppy trading expected initially. However a direct break above Rs 1600 is needed to trigger fresh rallies.

Zinc

Bullish outlook to continue while the support of 268 remain undisturbed. A direct drop below Rs 262 is a sign of weakness.

Lead

A direct break of Rs 184 would continue selling pressure. Otherwise recovery upticks are on cards.

Aluminium

Consistent trades above Rs 215 would extend rallies. Inability to do so is a sign of short term weakness.

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