Intraday Technical Outlook 29 April 2021 - Geojit Financial
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Gold Mini Jun/ LBMA Spot Goldv
If $1760 continue to hold the downside, there are chances of recovery upticks in the counter. However, breaking the immediate resistance of $1800 is required to trigger major rallies for the day. Anyhow, immediate downside turnaround point is seen at $1725. MCX GoldM May Res: 48040 Support: 47150.
Silver Mini Jun/ LBMA Spot Silver
Breaking the immediate resistance of $26.70 is required to extend the buying momentum towards $28 or more. Inability to do so, there are chances of corrective selling, but major downside reversal point is placed at $23.80. MCX SilverM Jun: Res at Rs 71800. Sup: 68450.
Copper May
Positive outlook remain intact as long as 740 hold the downside. Anyhow, a direct turn below 720 would be a selling signal.v
Nickel May
Upticks may continue as long as the support of 1270 remain undisturbed. However, a direct drop below 1208 is a signal of reversal.
Lead May
Inability to move past 175 there are chances of corrective selling pressure for the day. Anyhow trend reversal point is placed at 159.
Zinc May
As long as prices stay above 232 it may continue bullish rallies in the counter. A direct drop below 226 is a signal of reversal.
Aluminium May
As long as prices stay above 190 intraday trend continue to be on the positive side. Weakness is seen only a close below 188.v
MCX Crude Oil May/NYMEX Crude May
There are chances of continuation of rallies as long as prices stay above $64. Immediate resistance is placed at $67 followed by $72 levels. Meanwhile, a direct turn below $60.50 likely to weaken the sentiments. MCX May: Res at Rs 4880 / Support: Rs 4632.
Natural Gas May
Bullish outlook remain intact while prices stay above 214. A direct turn below 208 would trigger weakness.
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