INTERNATIONAL SPOT SILVER:-Resistance will be at 16.9$-17$.
Support will be at 16.52$-16.3$.
Expect a sideways movement on the immediate near front. Unless a breakout and close above 17$ is witnessed.
Sell on fall below 16.5$ with high of the day stop loss
NYMEX CRUDE:-Indicated to buy above 75.5$ in our last couple of updates.
Crude rose to a high of 77.41$. Traders who managed to implement a buy had the opportunity to benefit.
Corrective dip to 76.5$-75$ can be used for buying with a stop loss of 74$.
Expect high range of 78.3$-80.3$ to be tested which can be used for profit booking
SPOT GOLD:-Corrective dip to 1110-1102$ can be used for buying with a stop loss of 1098$.
Expect higher range of 1122$-1130$ to be tested.
Sell on fall below 1098$ with high of the day stop loss
SILVER MCX TRADING STRATERGY:-Cover short positions for the time being on dip to 26103-25910 as the opportunity arises.
Expect higher range of 26253-26446 to be tested
GOLD MCX TRADING STRATERGY:-Corrective dip to 16702-16614 can be used for buying with a stop loss of 16560.
Expect higher range of 16841-16929 to be tested
MCX Gold April:Resistance at 16762-16822 level. Ideally, this zone should cap for decline
toward 16417/16462 level. S1: 16674 S2: 16594 R1: 16834 R2: 16915
toward 16417/16462 level. S1: 16674 S2: 16594 R1: 16834 R2: 16915
MCX Silver March: We can expect a consolidation in the 25672-26170 zones now followed
by a rise towards 26903 levels. Only a fall below 25454 to cause doubts on our bullish view.
S1: 25931 S2: 25801 R1: 26192 R2: 26321
by a rise towards 26903 levels. Only a fall below 25454 to cause doubts on our bullish view.
S1: 25931 S2: 25801 R1: 26192 R2: 26321
MCX Copper Feb: Ideally, supports at 310.50 levels to hold for a move towards 322. This is our favored view.
Fall below 307.50 to dent our bullish view. This is our favored view. Fall below 307.50 to dent our bullish view.
S1: 311.60 S2: 307.60 R1: 319.60 R2: 323.60.
S1: 311.60 S2: 307.60 R1: 319.60 R2: 323.60.
MCX Crude Oil Feb: An important resistance at 3572 has been tested. Supports are now at 3500 followed
by important support at 3460/3465 now. Ideally a consolidation should take place before the next move.
S1: 3514 S2: 3474 R1: 3594 R2: 3634.
S1: 3514 S2: 3474 R1: 3594 R2: 3634.
MCX Zinc Feb: Supports are at 98.15 followed by 97.20 now. While above 96, a pullback towards 103 looks likely.
S1: 97.60 S2: 95.60 R1: 101.6 R2: 103.60.
MCX Lead Feb: Supports are at 94.30 followed by 93.05. Favored view expects supports to hold for a test of
99.35/50 levels while supports hold. S1: 95.15 S2: 93.15 R1: 99.15 R2: 101.15.
MCX Nickel Feb: Strong support is seen in the 826-830 levels. Ideally, this zone to hold for a rise towards 875.
This is our favored view. Fall below 823 to dent our bullish view. S1: 840 S2: 832 R1: 852 R2: 860.
MCX Natural Gas Feb: Dips to 249 / 247 to find support for a move higher towards 259, which are strong
resistance levels and prices, could retrace from these levels. S1: 249 S2: 243 R1: 259 R2: 264
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