Intraday Technical Outlook 29 December 2021- Geojit Financial Services
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Gold KG Feb
Expect a choppy trade inside Rs 48800 — 47700 levels initially and breaking either sides would suggest fresh short term direction.
Silver KG
Mar
Prices remain range bound with mild negative bias but a break of Rs 60300 is a short term selling signal.
Crude Oil
Jan
While prices stays above Rs 5450 intraday bias remains positive. Further weakness is seen if it breaks at Rs 5300.
Natural Gas
Jan
Immediate and stiff support is seen at Rs 288, which if holds expect recovery rallies for the day. A direct drop below Rs 270 is a sign of short term weakness.
Copper
Jan
Range bound trading expected the day. However, consistent trades above Rs 757 would extend rallies.
Nickel
Jan
A direct rise above Rs 1560 is needed to trigger further up moves. Else, there are chances of corrective selling pressure.
Zinc
Jan
A direct break above Rs 292 would continue rallies. Else, there are chances of corrective selling pressure for the day.
Lead
Jan
Break above Rs 188 is needed to trigger fresh rallies. If unable to so prices may correct lower in near future.
Aluminium
Jan
Corrective selloffs are likely as long as the resistance of Rs 229.50 caps further rallies. Anyhow major support is seen at Rs 217.
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