Bullions are trading in a green and metals trying to enter in red...

WEEKLY MCX BULLETIN FROM 21 FEB TO 25 FEB 2022

Bullions are trading in a green zone…

Gold April - Gold is trading in a green zone and closed on a positive note in the last trading session. Now Gold has near support around 49800 and upside resistance around 50350. Break above 50350 will test 50550-50700 levels in upcoming session. Negative move will expect on break below 49800 levels.

Silver - Silver looks good and closed on a positive note in the last trading session. Now Silver has near support around 63300 and upside near resistance around 64600 levels. Break and sustain above 64600 will test 65500-66200 levels in upcoming sessions. Fresh weakness will come on close below 63300 levels.

Metals looks mixed on the charts…

Nickel - Nickel looks good and closed on a positive note in the last trading sessions. Now Nickel has near support around 1790 and upside resistance around 1820. Break above 1820 will test 1830-1840 levels in upcoming sessions.

Copper - Copper looks weak on the daily chart. Now Copper has next support around 760 and upside near resistance around 770. Break and sustain above 770 will see fresh positive move till 775-778 levels in upcoming sessions. If close below 760 will test 755 levels.

Zinc - Zinc is trading around support zone and ready for the fresh move. Now Zinc has next resistance around 301 and next major support around 295 levels. Break and sustain below 295 will see sharp fall till 293-290 levels in upcoming sessions.

Energy segment looks slightly positive...

Natural Gas - Natural Gas closed on a positive note on the weekly charts. Now Natural Gas has near support around 325 and upside resistance around 345. Break below 325 will test 317-310 levels in upcoming sessions. Fresh positive move will expect above 345 levels.

Crude Oil - Crude Oil trading around support around on the chart. Now Crude Oil has near support around 6540 and near resistance around 6830 levels. Break above 6830 will test 6900-6960 levels in upcoming sessions. Close below 6540 will see fresh weakness in upcoming sessions.

Weekly Top Pick

Buy Nickel above 1820. SL-1805. Target-1834-1844. *T&C Apply...