Bullions are trading in a red zone while metals in green...

DAILY MCX BULLETIN ON 23 NOV 2021

Bullions crashed vertically…

Gold - Gold crashed vertically and achieved our downside targets in the last trading session. Now Gold has next support around 47650 and upside resistance around 48500. If Gold close below 47650 on an hourly basis then we will expect it to test 47350-48200 levels in upcoming sessions. Sell on rise around 48450 will be a good entry for the traders.

Silver - Silver too crashed sharply in the last trading session. Now Silver has near support around 64000 and upside resistance around 65600 levels. Break and sustain below 64000 will test 63600-63000 levels in upcoming sessions. Sell on rise around resistance will be a good strategy for the upcoming sessions.

Metals are trading in a green zone…

Nickel - Nickel successfully achieved our upside targets in the last trading session. Now Nickel has near support around 1520 and upside resistance around 1550. Break above 1550 will test 1558 and our next upside target of 1570+ levels in upcoming sessions. Buy on dips around 1535 will be a good entry for the traders.

Copper - Copper too closed on a positive note in the last trading session. Now Copper has near support around 730 and upside resistance around 745 and 750 on weekly basis. Fresh major upside will expect on close above 745 levels. Break and sustain below 730 will test 724-720 levels.

Aluminium - Aluminium looks good and closed on a positive note in the last trading session. Now Aluminium has the next resistance around 217 and next support around 210 levels. Above 217 it will test 220+ levels.

Energy segment looks mixed on charts...

Natural Gas - Natural Gas has given a weak move and tested its major support in the last trading session. Now Natural Gas has near support around 350 and upside resistance around 370. Break below 350 will test 342-335 levels in upcoming sessions.

Crude Oil - Crude Oil formed a green candle at support levels in the last trading session. Now Crude Oil has near support around 5600 and near resistance around 5750 levels. Break above 5750 will test 5800 and then to 5850 levels in upcoming sessions.

Daily Top Pick

Buy Nickel on dips around 1535. Stop loss below 1520. Target-1555-1570. *T&C Apply...