Bullions may shine again and Metals trying for the U-Turn...

DAILY MCX BULLETIN ON 02 NOV 2021

Bullion looks bullish on the charts…

Gold - Gold has given a sharp recovery from lower levels in the last trading session. Now Gold has near support around 47600 and upside resistance around 48000. Break and sustain above 48000 will test its initial target of 48250 and more upside move will expect on close above 48250 levels till 48500 levels.

Silver - Silver performed well and closed on a positive note. Now Silver has near support around 64000 and upside resistance around 65000 levels. Break and sustain above 65000 will test 65700-66500 levels for the day. Fresh weakness may expect on close below 64000 levels.

Metals looks slightly positive on charts…

Nickel - Nickel successfully achieved our upside targets in the last trading session. Now Nickel has near support around 1485 and upside resistance around 1530. Buy on dips will be a good entry for the traders for 15-20 points. If able to sustain above 1530 then we will expect another upside move till 1550+ levels.

Copper - Copper formed a green Doji near the support zone. Now Copper has near support around 738 and upside resistance around 750. Break and sustain above 750 will test 755-760 levels in upcoming sessions.

Lead - Lead looks positive on the charts and ready for a fresh run. Now Lead has near support around 185 and upside we will expect till 190+ levels. Above 190 it will test 192+ levels in upcoming sessions.

Energy segment looks mixed on the charts...

Natural Gas - Natural Gas gave a bearish move in the last trading session. Now Natural Gas has near support around 380 and upside resistance around 410. Break and sustain above 410 will test 422-432 levels in upcoming sessions. Major weakness will expect on a break below 380 levels till 360 mark.

Crude Oil - Crude Oil again achieved our upside targets in the last trading session. Now Crude Oil has near support around 6200 and near resistance around 6380 levels. Buy-on dips around support will be a good entry for the traders.

Daily Top Pick

Buy Copper above 750. Stop loss below 743. Target-756-760. *T&C Apply...