Metals entered in a green zone and Bullions trying to enter...

DAILY MCX BULLETIN ON 08 DEC 2021

Bullions are trying to enter in green zone…

Gold - Gold broke its resistance in the last trading session. Now Gold has next major support around 47700 and upside resistance around 48050. An hourly close above 48050 will test 48200-48400 levels in upcoming sessions. Fresh weakness will only expect below 47700 levels.

Silver - Silver achieved our upside target in the last trading session. Now Silver has near and major support around 61000 and upside resistance around 62000 levels. An hourly close above 62000 will test 62400-62800 levels in upcoming sessions. Now any fresh weakness may expect on close below 61000 levels only.

Metals are trading in a green zone…

Nickel - Nickel has given a strong upside move in the last trading session. Now Nickel has near support around 1550 and upside resistance around 1575. Risky traders can enter on dips for the intraday gains of 10-15 points. Break and sustain above 1575 will test 1585-1600 levels in upcoming sessions.

Copper - Copper performed well and achieved our upside target in the last trading session. Now Copper has next support around 728 and upside resistance around 742. Traders can enter on dips around support for the intraday gain of 5-7 points. Break and close above 742 will test 746-750 levels in upcoming sessions.

Zinc - Zinc looks solid on the charts. Now Zinc has the next resistance around 275 and next support around 268 levels. Break and sustain above 275 will test 277-280 levels in upcoming sessions.

Energy segment looks mixed on the charts...

Natural Gas - Natural Gas still trading in a weak zone. Now Natural Gas has near support around 275 and upside resistance around 290. Break below 275 will test 270-266 levels in upcoming sessions.

Crude Oil - Crude Oil skyrocketed and closed on a bullish note in the last trading session. Now Crude Oil has near support around 5300 and near resistance around 5510 levels. Any sharp dip will be a buying opportunity for the day.

Daily Top Pick

Buy Nickel around 1555. SL-1540. SL-1575-1585. *T&C Apply...