VIEWS ::
MCX Gold April: Resistances are at 15186 followed by 15252 levels now. Direct rise above 15285 to indicate bullish strength.But, big picture weakness persists and therefore favor a fall below 14955. S1: 15050 S2: 14950 R1: 15200 R2: 15270
MCX Silver May: Resistances are at 21823 followed by 22000/22030 levels now. Favored view expects a drop towards 19368 or even lower as long as resistances cap the upside. Only a rise above 22370/22455 to cause doubts on our bearish view. S1: 21400 S2: 21250 R1: 21800 R2: 22150
MCX Copper April: Strong supports are at 192.2/ 193.4 for the present uptrend to sustain and continue higher.Crucial support is at 191.2 and a break below this level could decrease the bullishness.S1: 192 S2: 187 R1: 198 R2: 202
MCX Crude Oil April : Supports are at 2518 followed by 2490. While above 2530, prices should aim for the recent highs at 2630 or even higher.Unexpected fall below 2432 will force us to abandon our bullish view. S1: 2535 S2: 2485 R1: 2630 R2: 2670
MCX Zinc March: Dips are expected to find support at 61.75 levels for a move higher towards 63.65 64.0 .A fall below 61.30 to negate this bullish view. S1: 61.75 S2: 61.0 R1: 63.0 R2: 64.1
MCX Lead March: Supports at 67.35 66.85 likely to hold dips for a move higher towards 70.65 71.0 levels.Only a fall below 65.75 to negate this bullish view. S1: 68.00.1 S2: 67.00 R1: 69.6 R2: 70.2
MCX Nickel March: Dips to 500 : 503 likely to find support for a move higher towards 540 levels.Only a move below 487 to cause doubts about this bullish view. S1: 515 S2: 510 R1: 525 R2: 534
TRADING STRATEGY ::
GOLD MCX APRIL ::
The trend is down.
Sell on rise to Rs.. 15166 – Rs. 15223 with stop loss of Rs. 15260.
Expect a fall towards Rs. 15072 – Rs. 15015.
Support will be at Rs. 14910 – Rs. 14850.
Expect a big fall if close below 14850.
As the trend is down, to minimize risk, intra-day traders can wait for a rise above Rs. 15223 and when it falls below Rs. 15223 then sell with whatever high registered above Rs. 15223 as a stop loss. Subsequently, book profits at Rs. 15166 – Rs. 15072 range or below.
SILVER MCX MAY ::
The trend is down.
Sell at market price and on rise to Rs. 21764 – Rs. 21931 with stop loss of Rs. 22060..
Expect a fall towards Rs. 21469 – Rs. 21302.
On sustain fall, lower levels of Rs. 20620 – Rs. 19250 could be witnessed in coming sessions.
As the trend is down, to minimize risk, intra-day traders can wait for a rise above Rs. 21931 and when it falls below Rs. 21931 then sell with whatever high registered above Rs. 21931 as a stop loss. Subsequently, book profits at Rs. 21764 – Rs. 21469 range or below.
INTERNATIONAL SPOT SILVER ::
Support will be at 12.50$-12.40$.
Yesterday low was at 12.63$. A fall below 12.63$ will take the price down in the range of 12.50$-12.40$.
Resistance will be at 12.78$-12.88$-12.99$.
INTERNATIONAL SPOT GOLD ::
The price movement is getting narrower.
Support will be at 904$ and 896$.
Resistance will be at 919$-924$ and 930$..
ENJOY TRADING !!!!
MUNNABHAI ANALYST, M. M. A. S.
CELL :- +91-9820555212
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