Bullions are in tight range and Metals trading around support...

DAILY MCX BULLETIN ON 06 JAN 2022

Bullions are trading in a narrow range…

Gold - Gold has given a slightly positive move in the last trading sessions. Now Gold has the next major support around 47800 and an upside resistance zone around 48200-48300. Break and an hourly close above 48300 will test 48500+ levels in upcoming sessions. Buy on dips and sell on rise will be the best trading opportunity for the day.

Silver - Silver too gave a positive move in the last trading session. Now Silver has near and major support around 61500 and upside resistance around 62800 levels. Break and sustain above 62800 will test 63200-63500 levels for the day. More bullish move will expect on close above 63500 levels till 64200+ levels.

Metals are facing hurdles at upper levels…

Nickel - Nickel is trading around the support zone. Now Nickel has next support around 1555 and upside resistance around 1575. Break and sustain above 1575 will test 1582-1590+ levels in upcoming sessions. The fresh bull run will expect on close above 1590 levels.

Copper - Copper erases all the gains of the last trading session. Now Copper has next support around 740 and upside near resistance around 750. A fresh upside move will expect on close above 750 levels till 755 mark.

Zinc - Zinc is trading around in a positive zone. Now Zinc has next resistance around 292 and next support around 288 levels. Break and sustain above 292 will again test 295 levels again.

Energy segment looks mixed on the charts...

Natural Gas - Natural Gas still trading in a negative zone. Now Natural Gas has near support around 278 and upside resistance around 288. Break and sustain below 278 will test 274-272 levels in upcoming sessions. Break above 288 will again test 294+ levels.

Crude Oil - Crude Oil successfully achieved our upside targets in the last trading session. Now Crude Oil has near support around 5650 and near resistance around 5900 levels. Any sharp dip will be a buying opportunity for the traders.

Daily Top Pick

Buy Lead above 187.50. SL-186. Target-189-190. *T&C Apply...