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For Intraday session immediate support is at 71400 - 71000 level and resistance at 72300 - 72700 - Monarch networth capital
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COMMODITY TECHNICAL OUTLOOK
* MCX Gold is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.60900 - 60700 levels whereas resistance is at Rs.61300 - 61500 levels.
* MCX Silver is likely to trade with negative bias during today’s trading session. Support is at Rs.71400 - 71000 levels whereas resistance is at Rs.72300 - 72700 levels.
* MCX Crude Oil is likely to trade with negative bias during today’s trading session. Support is at Rs.5630 - 5550 levels whereas resistance is at Rs. 5770 - 5850 levels.
* MCX Copper is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.710 – 705 levels whereas resistance is at Rs.720 - 725 levels.
CHART OF THE DAY
MCX-SILVER (DAILY CHART)
Strategy: Intraday
* SILVER prices traded with mild positive bias during the last trading session; but prices are trading below upward trend line.
* For Intraday session immediate support is at 71400 - 71000 level and resistance at 72300 - 72700. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 71400 - 71000 levels on lower side
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