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Gold Mini Aug/ LBMA Spot Gold

Initial bias likely to be on the weaker side but stiff support is placed at $1788. A direct break of which the momentum would continue in near term. Likewise it required to break above $1835 to trigger recovery rallies in the counter. MCX GoldM Sep Res: 48650 Support: 46850.

Silver Mini Aug/ LBMA Spot Silver

Inability to move past the support of $24.20 chances of recovery upticks are still on the cards. Meanwhile, an unexpected drop below the same is a signal of long liquidation pressure. MCX SilverM Aug: Res at Rs 69200. Sup: 66800.

Copper Aug

If the support of 720 hold the downside expect recovery moves in the counter. A direct drop below the same is a major weak signal.

Nickel Aug

Recovery upticks may continue while the support of 1445 remain hold the downside. Major downside turnaround point is seen at 1390.

Lead Aug

Prices required to break 179 to continue further upside. Else, choppy with negative bias trading is likely for the day.

Zinc Aug

Prices remain volatile inside 242-250 levels and breaking any of the sides would suggest fresh direction to the commodity.

Aluminium Aug

Expect a range bound trade inside 207-204 levels initially and breaking any of the sides would suggest further direction.

MCX Crude Oil Jul/NYMEX Crude Aug

Choppy with negative bias trading expected initially as long as prices are unable to break $72. However, a direct drop below $66 is a signal of short term liquidation pressure. Further major rallies can be seen only a close above $74.50. MCX Aug: Res at Rs 5270 / Support: Rs 4940.

Natural Gas Aug

Bullish outlook may continue while prices stay above 303. A close below 298 likely to correct prices lower.

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