Intraday Technical Outlook 31 March 2022 - Geojit Financial Services
Gold LBMA Spot
Recovery upticks can be seen initially. However major resistance is seen at $1965. Further liquidation pressure is anticipated only a close below $1890.
Silver LBMA Spot
Choppy trades remain on cards. A direct drop below $24 is an early sign of selling pressure. Else, a mild uptick is possible for the day.
Crude Oil NYMEX
Choppy with mild negative bias remains on cards. However, consistent trades below $102 is a sign of renewed selling pressure. Major resistance is seen at $116.
Gold KG Apr
While prices stays below the support of Rs 51000 expect weak bias to continue the day. Further rallies are seen only above Rs 51800.
Silver KG May
Choppy with mild negative bias expected. Immediate upside turnaround point is seen at Rs 68000.
Crude Oil Apr
Gap down opening expected and the momentum may continue the day. Break above Rs 8300 is an upside reversal point.
Natural Gas Apr
Inability to move past Rs 425 there are chances of corrective selling pressure. However, major support is seen at Rs 398.
Copper Apr
Expect choppy trading inside Rs 810-835 levels initially. Breaking any of the sides would suggest fresh short term direction.
Nickel Apr
Recovery upticks are in cards as long as the support of Rs 2350 remain hold the downside. Unexpected drop below the same weakness would continue.
Zinc Apr
A direct fall below Rs 328 is a weak signal. Else, choppy trading is on cards.
Lead Apr
Consistent trades below Rs 180 would trigger further liquidation. Else, there are chances of recovery upticks for the day.
Aluminium Apr
While prices stays below Rs 285 would extend selling pressure. Recovery moves are seen only above Rs 292.
To Read Complete Report & Disclaimer Click Here
For More Geojit Financial Services Ltd Disclaimer https://www.geojit.com/disclaimer
SEBI Registration Number: INH200000345
Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer