Commodities are Trading on a Mixed Note...

DAILY MCX BULLETIN FOR 05 SEPTEMBER 2023

Correction continues in the Bullions…

Gold - Gold erased all opening gains and closed on a negative note in the last trading session. Now Gold has near support around 59300 and upside resistance around 59600. Break and close above 59600 will take it towards 59800 and then to 56000 levels.

Silver Dec- Silver again crashed below the crucial support level and closed below the same in the last trading session. Now Silver has near support around 74000 and upside resistance around 75200 levels. Break and sustain above 75200 will expect an upside move till 75500-75800 levels.

Metals are moving in a small range…

Zinc- Zinc stucked in a small range and closed on the flat note in the last trading session. Now Zinc has near support around 219 and upside resistance around 222. Break above 222 will test 225+ levels. Buy on dips around support will be a good entry for the traders.

Copper - Copper unable to sustain at higher levels and closed around the support in the last trading session. Now Copper has next support around 733 and upside resistance around 740 levels. Break and sustain above 740 will see an upside move till 744-746 levels in days to come.

Crude Oil still looks bullish in Energy Segment…

Natural Gas - Natural Gas again slipped from the higher levels and closed around the major support level in the last trading session. Now Natural Gas has major support around 218 and upside resistance around 226. Break above 226 will test 230-234 levels.

Crude Oil - Crude Oil again performed well and achieved our intraday target in the last trading session. Now Crude Oil has near support around 7000 and near resistance around 7120 levels. Break above 7120 will test 7180 and then to 7200 levels.

Daily Top Pick (05/09/2023)

Buy Silver Dec on dips around 73800. Stop loss below 73400. Target- 74500-74800.

*T&C Apply…