Published on 4/03/2021 2:44:24 PM
SELL COPPER MAR 2021 @ 706.00 SL 714.00 TGT 696.00-688.00.MCX
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Published on 4/03/2021 2:43:03 PM
Technical View:
* Bullion: Day trend is indicating mixed move to downside in the Gold and Silver.
* Energy: Day trend is indicating mixed move in Crude oil and in Natural Gas.
* Base metals: Day trend in base metal is indicating mixed move.
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Published on 4/03/2021 2:41:44 PM
ZINC
Technical outlook
Zinc march future 2hr Chart has formed "Descending broadening wedge" pattern. The last few sessions ended up sideways mode along with some corrections inside the channel. The market is expected to continue on the bearish term based on the current price action, once the same breaks below a key support holding near 217. The downside rally could be testing all the way up to 215.50-214 levels in the upcoming sessions. Alternatively, if the market struggles to break the support level, then it might retest the same and revise the trend to bullish/sideways. Key resistance holds at 218.50. A slide to 220-221.50 is also a possibility if the price makes or break above the current resistance level.
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SEBI Registration number is INZ000078632
Published on 4/03/2021 2:41:30 PM
SILVER
Technical outlook
MCX Silver May futures technical chart has taken the formation of "Rising channel" pattern in daily time frame. Last few sessions ended up in sideways mode along with some corrections inside the channel. The market is expected to continue on bearish momentum based on the current price action, once the same break below the key support level holding near 67700. The downside rally could be extending all the way up to 66900-66100 levels in the upcoming sessions. An alternative scenario indicates that if the market struggles to break the support level, then it might retest the same and revise the trend to bullish/sideways mode once again. Key resistance holds near 69300. A slide to 70100 is also a possibility if the price makes or break above the current resistance level.
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Published on 4/03/2021 2:41:16 PM
NATURAL GAS
Technical outlook
Natural gas 4hr chart has formed “Falling channel” pattern. The last few sessions ended up sideways mode along with some corrections inside the channel. The market is expected to continue on the bearish momentum based on the price action, once break below a key support holding near 206. The downside rally could be testing all the way through 203- 200 levels in the upcoming sessions. Alternatively, if the market struggles to break the support level, then it might retest the same and turn bullish/sideways once again. Key resistance holds at 210. A slide to 213- 216 is also a possibility if the price makes or break above the current resistance level.
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Published on 4/03/2021 2:41:01 PM
COPPER
Technical outlook
Copper March future 4hr chart has formed "Ascending broadening wedge" pattern. The last session ended sideways mode also creating new historical high. The market is still expected to continue on bearish momentum based on the current price action, once the same break below the key support holding near 701. The downside rally could be testing all the way up to 698-695 levels in the upcoming sessions. Alternatively, if the market struggles to break the support level, then it might revise the trend to bullish/sideways mode. Key resistance holds at 710.
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Published on 4/03/2021 2:40:00 PM
GOLD
Technical outlook
MCX Gold April futures technical chart has taken the formation of “Falling channel” pattern in 4hr time frame. Last few sessions ended up in sideways mode along with some corrections inside the channel. Based on the current price action, market is expected to continue on bearish momentum once the same breaks below the key support level holding near 44800. The downside rally could possibly test up to 44500-44200 levels in the upcoming sessions. An alternative scenario indicates that if the market struggles to break the support level, then it might retest the same and revise the trend to bullish/sideways mode once again. Key resistance holds near 45100. A slide to 45400-45700 is also a possibility if the price makes or break above the current resistance level.
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SEBI Registration number is INZ000078632
Published on 4/03/2021 2:39:13 PM
CRUDEOIL
Technical outlook
MCX Crude Oil technical chart has taken the formation of "Ascending broadening wedge" pattern in 4hr time frame. Previously few sessions ended up in sideways mode along with some corrections inside the channel. As per the technical aspects based on the current price action, the market is expected to continue on bullish trend, once the same break above a key resistance level holding near 4530. The upside rally could be testing all the way up to 4590-4640 levels in the upcoming sessions. An alternative scenario indicates that if the market struggles to break the resistance level, then it might retest the same and revise the trend to bearish/sideways mode once again. Key support holds near 4480. A slide to 4420-4370 is also a possibility if the price makes or break below the current support level.
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Published on 4/03/2021 2:38:03 PM
Natural Gas Mar
Inability to move past 202 there are chances of recovery upticks for the day. Major resistance is seen at 224.
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SEBI Registration number is INH200000345
Published on 4/03/2021 2:37:46 PM
MCX Crude Oil Mar/NYMEX Crude Mar
If the support of $59 remain hold the downside, there are chances of recovery upticks for the day. A direct break of which would extend weak momentum for the day. Further major rallies are seen only a close above $64. MCX Mar: Res at Rs 4578 / Support: Rs 4320.
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SEBI Registration number is INH200000345
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