Bullions looks weak while metals trying for the bounce...

DAILY MCX BULLETIN ON 30 NOV 2021

Bearish move continues in Bullions…

Gold Feb - Gold successfully achieved our upside target in the last trading session. Now Gold has next support around 47900 and upside resistance around 48350. An hourly close below 47900 will test 47700 and more downside move will expect on close below 47700 levels till 47400 levels. A fresh upside move will expect on close over 48350 levels.

Silver March - Silver continuously traded in the weak zone and closed on a negative note in the last trading session. Now Silver has near and major support around 62200 and upside resistance around 63500 levels. An hourly close below 62200 will test 61800-61600 levels in upcoming sessions. Any fresh upside move will only expect on close above 63500 levels till 64300+ levels.

Metals bounced from support levels…

Nickel - Nickel has given a slight upside move in the last trading session. Now Nickel has near support around 1540 and upside resistance around 1570. Either side breakout will decide further 10+ points move for the day.

Copper - Copper closed on a flat note in the last trading session. Now Copper has near support around 730 and upside resistance around 740. Break and sustain above 740 will test 744-748 levels.

Zinc - Zinc closed on a slightly positive note in the last trading session. Now Zinc has the next resistance around 274 and next support around 269 levels. Break above 274 will test 276+ levels for the day.

Energy segment again looks mixed on the charts...

Natural Gas - Natural Gas crashed drastically in the last trading session. Now Natural Gas has near support around 364 and upside resistance around 385. Break below 364 will test 355-350 levels. More downside move will expect on close below 350 levels till 340-330 levels. Any sharp rise will be a selling opportunity.

Crude Oil - Crude Oil closed on a dull note in the last trading session. Now Crude Oil has near support around 5250 and near resistance around 5500 levels. Break below 5250 will test 5180-5150 levels for the day. Upside move will expect on close above 5500 levels till 5600+ levels.

Daily Top Pick

Buy Crude Oil above 5380. Stop loss below 5250. Target-5480-5520. *T&C Apply...