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Technical Commentary

Gold

A direct drop below $1775 would extend the corrective selling. Else, there are chances of recovery upticks for the day.

Silver

Prices continue to trade inside $25.50-22.50 levels initially. Breaking any of the sides would suggest fresh short term direction.

Crude Oil

While prices stay below $74 expect a choppy with mild negative bias. Anyhow, further major liquidation is seen only a close below $66.

Technical Commentary

Gold KG

Intraday momentum may be negative with choppy as long as it stays below the support of 48600. Anyhow major support is seen at 47100.

Silver KG

As long as prices stay below Rs 64500 likely to continue weak bias. A direct rise above $67000 is a positive signal.

Crude Oil

While prices stay below Rs 5400 would extend selling pressure. Immediate upside turnaround point is seen at Rs 5980.

Natural Gas

Consistent trades below 355 likely to extend the liquidation pressure. Else, prices would edge higher for the day.

Copper

Choppy trading is likely as long as the 737 remains caps the upside. Major support is placed at 714.

Nickel

Prices remain range bound initially. However, a direct break of Rs 1600 is needed to trigger fresh rallies.

Zinc

If the support of 265 remains holds, expect recovery upticks to continue the day.

Lead

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

Aluminium

If unable to break the stiff support of 208 there are chances of recovery upticks for the day. Else, it may continue with weak bias.

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