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COMMODITY TECHNICAL OUTLOOK

* MCX Gold is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.48200 levels whereas resistance is at Rs.49500- 49600 levels. Buying is advised above Rs.49000 levels for the target prices of Rs.49500 – 49600 levels

* MCX Silver is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.71000 levels whereas resistance is at Rs.73000 – 73500 levels. Buying is advised above Rs.72500 levels for the target prices of Rs.73000 – 73500 levels

* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.5120 levels whereas resistance is at Rs.5280 – 5330 levels. Buying above 5220 is advised targeting Rs.5280-5330 levels

* MCX Copper looks strong if Rs.750 level is breached. Buying above Rs.750 is advised targeting Rs.760– 766 levels

CHART OF THE DAY

Strategy: Intraday

* NATURAL GAS prices traded with positive bias during the last trading session

* It is having a support of upward sloping trend line as well as Horizontal support line and sustaining above the same

* For Intraday session we expect NATURAL GAS prices to trade with positive bias if price sustains above 244 levels whereas 235 and 230 will act as an immediate support levels

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