Bullions and Energy Looks Bright while Metals looks Flat...

DAILY MCX BULLETIN FOR 25 AUGUST 2023

Bullions still trading on a positive note…

Gold - Gold is sustaining above the crucial resistance level and closed on a positive in the last trading session. We will expect further upside move in upcoming trading sessions.

Now Gold has near support around 58700 and upside resistance around 58900. Break and close above 58900 will take it towards 59050 and then to 59200 levels.

Silver - Silver again rocks and achieved our given intraday targets successfully in the last trading session. Now Silver has near support around 73200 and upside resistance around 73800 levels. Break and sustain above 73800 will expect an upside move till 74200-74600 levels.

Profit booking witnessed in Metals …

Zinc - Zinc is moving above the major support level and closed on a positive note in the upcoming trading session. Now Zinc has near support around 209.50 and upside resistance around 214. Break above 214 will test 216 levels. Buy on dips around support will be a good entry for the traders.

Copper - Copper dragged and closed around the support level in the last trading session. Now Copper has next support around 732 and upside resistance around 738 levels. Break and sustain above 738 will see an upside move till 742 levels in day to come. Fresh upside move will expect on close above 742 levels.

Crude Oil and Natural Gas rebound from lower levels…

Natural Gas - Natural Gas recovered sharply from the lower levels in the last trading session. Now Natural Gas has near support around 202 and upside resistance around 212. Break above 212 will test 216 levels. Fresh bull run will expect on close above 216 levels.

Crude Oil - Crude Oil witnessed a bounce from the negative zone and closed just above the support level in the last trading session. Now Crude Oil has near support around 6470 and near resistance around 6575 levels. Break above 6575 will test 6650 and then to 6720 levels.

Daily Top Pick (25/08/2023)

Buy Gold above 58900. Stop loss below 58700. Target- 59080-59250.

*T&C Apply…