Bullions Looks dull While Metals are Gaining Momentum...

DAILY MCX BULLETIN FOR 14 SEPTEMBER 2023

Bullions are still trading on a bearish note…

Gold - Gold still trading in a bearish zone. Now Gold has near crucial support around 58400 and upside resistance around 58700. Break and close above 58700 will take it towards 58900-59000 and fresh upside move will expect above 59000 levels.

Silver- Silver again slipped from the day's high and closed on a bearish note in the last trading session. Now Silver has next support around 71000 and upside resistance around 72200 levels. Break and sustain above 72200 will expect an upside move till 72500-72800 levels.

Positive signs are witnessing in metals…

Zinc- Zinc jumped to the fresh weekly highs and closed on a bullish note in the last trading session. Now Zinc has near support around 221 and upside resistance around 225. Break above 225 will test 227-228+ levels. Buy on dips around support will be a good entry for the traders.

Copper - Copper performed well and achieved our intraday targets in the last trading session. Now Copper has next support around 730 and upside resistance around 736 levels. Break and sustain above 736 will see an upside move till 739-742 levels in days to come.

Profit booking witnessed in Energy Segment…

Natural Gas - Natural Gas erased previous day's gains and closed on a negative note in the last trading session. Now Natural Gas has near support around 218 and upside resistance around 226. Break above 226 will test 230+ levels.

Crude Oil - Crude Oil witnessed some profit booking from the higher levels in the last trading session. Now Crude Oil has near support around 7280 and near resistance around 7420 levels. Break above 7420 will test 7460 and then to 7500 levels.

Daily Top Pick (14/09/2023)

Buy Zinc on dip around 222.50 with a Stop loss below 220. Target- 225-227.

*T&C Apply…