Metal and Bullions are trading in a bullish zone...

DAILY MCX BULLETIN ON 09 NOV 2021

Bullion looks bullish on the charts…

Gold - Gold is trading in a bullish zone and closed on a good note in the last trading session. Now Gold has near support around 47800 and upside resistance around 48150. Break and sustain above 48150 will test its initial target of 48300 and more upside move will expect on close above 48300 levels till 48500 levels.

Silver - Silver performed well and closed on a bullish note in the last trading session. Now Silver has near support around 64000 and upside resistance around 65100 levels. Break and sustain above 65100 will test 65600-66000 levels for the day.

Metals are trying for the reversal…

Nickel - Nickel formed a bullish reversal candle in the last trading session. Now Nickel has near support around 1480 and upside resistance around 1520. Buy on dips will be a good entry for the traders for 15-20 points. If able to sustain above 1520 then we will expect another upside move till 1535-1550+ levels.

Copper - Copper formed a green Doji near the support zone. Now Copper has near support around 730 and upside resistance around 744. Break and sustain above 744 will test 750-755 levels in upcoming sessions.

Lead - Lead is trading in a narrow range and it may blast anytime. Now Lead has near support around 186 and upside resistance around 188. A daily close above 188 will test 190-192+ levels in upcoming sessions.

Energy segment looks slightly weak on the charts...

Natural Gas - Natural Gas was again given a bearish move in the last trading session. Now Natural Gas has near support around 400 and upside resistance around 420. Break and sustain above 420 will test 430-435 levels in upcoming sessions. Major weakness will expect on a break below 400 levels till 380 mark.

Crude Oil - Crude Oil is trading on a slightly weak mode. Now Crude Oil has near support around 6025 and near resistance around 6140 levels. Break below 6025 will test 5960-5900 levels.

Daily Top Pick

Buy Nickel around 1496. Stop loss below 1485. Target-1510-1520. *T&C Apply...