Bullions are on Fire After FED Interest Rate Decision...

DAILY MCX BULLETIN FOR 21 MARCH 2024

A Huge Gap-Up is expected in Bullions...

Gold - Gold is moving in channel pattern and we will expect a channel breakout for the day on the charts. Now Gold has near support around 65500 and upside resistance around 65900. Break and sustain above 65900 will take it towards 66200 and then to 66500 levels.

Silver- Silver is heading towards a fresh life high and we will expect a sharp upside move in upcoming trading session. Silver has near support around 75000 and upside resistance around 75800 levels. Break and sustain above 75800 will expect an upside move till 76500-77000 levels.

Metals Too Looks Good on the Charts…

Zinc- Zinc still moves above the support zone and we will expect a sharp bounce in upcoming sessions. Now Zinc has near support around 217 and upside resistance around 220. Break above 220 will test 222 and then to 225 levels.

Copper - Copper performed well and will continue its rally in upcoming trading session. Now Copper has next major support around 750 and upside resistance around 758 levels. Break and sustain above 758 will test 764-770 levels for the day. Buy on dips around support will be the best strategy for the traders.

Energy Sector Looks Good on Charts…

Natural Gas - Natural Gas is moving above the crucial support zone on the daily chart, indicating a sharp bounce in upcoming sessions. Now Natural Gas has major support around 140 and upside resistance around 145. Break and sustain above 145 will test 149-155 levels in upcoming sessions.

Crude Oil - Crude Oil corrected well from the higher levels in the last trading session. Now Crude Oil has near support around 6700 and near resistance around 6820 levels. Break above 6820 will test 6880-6920 levels. Buy on dips around support will be a good strategy for the traders.

Daily Top Pick (21/03/2024)

Buy Copper above 756 for the upside target of 763 and then to 770. Stop loss below 750.

*T&C Apply…