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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.48500 levels whereas resistance is at Rs.49600- 49800 levels. Buying is advised above Rs.49200 levels for the target prices of Rs.49500 – 49800 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.72800 – 73500 levels. Buying is advised above Rs.72000 levels for the target prices of Rs.72800 – 73500 levels

* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs.5000 levels whereas resistance is at Rs.5170 – 5200 levels. Buying above 5100 is advised targeting Rs.5170-5200 levels

* MCX Copper looks strong if Rs.750 level is breached. Buying above Rs.750 is advised targeting Rs.760– 765 levels

CHART OF THE DAY

Strategy: Intraday

* SILVER prices traded with positive bias during the last trading session

* It is having a support of Horizontal trend line and sustaining above the same

* For Intraday session we expect SILVER prices to trade with positive bias if price sustains above 72000 levels whereas 71000 and 70200 will act as an immediate support levels

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