Bullions on fire but Energy segment crashed...

DAILY MCX BULLETIN ON 11 NOV 2021

Bullions trading in a bullish zone…

Gold - Gold skyrocket after data in the last trading session. Now Gold has near support around 48500 and upside resistance around 49050. Break and sustain above 49050 will test its initial target of 49350 and more upside moves will expect to close above 49350 levels till 49600 levels. Buy-on dips around support will be a good entry for the traders.

Silver - Silver outperformed and closed on a bullish note in the last trading session. Now Silver has near support around 65000 and upside resistance around 66400 levels. Break and sustain above 66400 will test 67200-67600 levels for the day. Buy on dips around support will be a good entry for 500-800 points.

Metals look mixed for the day…

Nickel - Nickel performed well and successfully achieved our upside targets in the last trading session. Now Nickel has near support around 1495 and upside resistance around 1532. Buy on dips around support will be a good entry for the traders for 15-20 points. If able to sustain above 1532 then we will expect another upside move till 1550+ levels.

Copper - Copper formed a slightly weak pattern in the last trading session. Now Copper has near support around 725 and upside resistance around 742. Break and close below 725 will test 718-712 levels in upcoming sessions. Fresh upside move will only expect above 742 levels.

Lead - Lead successfully hit our upside target in the last trading session. Now Lead has near support around 187 and upside resistance around 190. Buy on dips around support will be a good trading strategy for the day. Above 190 it will test 192+ levels in upcoming sessions.

Energy segment is trading in a bearish zone...

Natural Gas - Natural Gas again crashed and closed on a negative note in the last trading session. Now Natural Gas has last major support around 350 and upside resistance around 375. If able to close below 350 then it will test 340-330 levels in upcoming sessions.

Crude Oil - Crude Oil is has given a negative move in the last trading session. Now Crude Oil has near support around 6050 and near resistance around 6250 levels. Break below 6050 will test 5960-5900 levels. Sell on rise around 6150 will be a good selling opportunity for the traders.

Daily Top Pick

Buy Gold around 48600. Stop loss below 48350. Target-48950-49200. *T&C Apply...