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COMMODITY TECHNICAL OUTLOOK

* MCX Gold is likely to trade sideways to positive bias during today’s trading session. Support is at Rs.47700 levels whereas resistance is at Rs.48100- 48300 levels.

* MCX Silver is likely to trade with negative bias during today’s trading session. Support is at Rs.64600 levels whereas resistance is at Rs.65300- 65600 levels. Selling below 64600 is advised targeting Rs.64000 – 63700 levels.

* MCX Crude Oil is likely to trade with positive bias during today’s trading session. Support is at Rs.6100 levels whereas resistance is at Rs.6230 – 6300 levels. Buying above 6230 is advised targeting Rs.6300 – 6340 levels.

* MCX Copper is likely to trade sideways to positive bias during today’s trading session. Support is at Rs.746 levels whereas resistance is at Rs.756 – 762 levels.

CHART OF THE DAY

Strategy: Intraday

* SILVER prices traded with negative bias during last trading session

* It was closed below downward sloping trend line in intraday trading session.

* For Intraday session immediate support is at 64600 – 64000 level and resistance at 65300 – 65600. If price sustains below the immediate support level of 64600 level then it will provide further momentum towards 64000 – 63700 levels on the lower side. 

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