Silver is Heading Towards 75K Mark...

DAILY MCX BULLETIN FOR 29 AUGUST 2023

Bullions looks bright for the positive run…

Gold - Gold again performed well and achieved our intraday targets in the last trading session.

Now Gold has near support around 58659 and upside resistance around 59050. Break and close above 59050 will take it towards 59200 and then to 59300 levels.

Silver - Silver continues its rally towards 75K mark and looks good on the charts. Now Silver has near support around 73200 and upside resistance around 73900 levels. Break and sustain above 73900 will expect an upside move till 74350-74600 levels.

A range bounce session witnessed in Metals …

Zinc Sep- Zinc looks solid on the charts and closed on a positive note in the last trading session. Now Zinc has near support around 214 and upside resistance around 216.50. Break above 216.50 will test 218-220 levels. Buy on dips around support will be a good entry for the traders.

Copper Sep - Copper trading in a small range and closed around the support level in the last trading session. Now Copper has next support around 730 and upside resistance around 736 levels. Break and sustain above 736 will see an upside move till 740-742 levels in days to come.

Profit booking witnessed in Energy Segment…

Natural Gas - Natural Gas erased all intraday gains and closed on a flat note in the last trading session. Now Natural Gas has near support around 210 and upside resistance around 217. Break above 217 will test 222 levels. Fresh bull run will expect on close above 222 levels.

Crude Oil - Crude Oil slipped from the higher levels but managed to close in a positive zone in the last trading session. Now Crude Oil has near support around 6560 and near resistance around 6680 levels. Break above 6680 will test 6740 and then to 6770 levels.

Daily Top Pick (29/08/2023)

Buy Silver on dips around 73300. Stop loss below 72800. Target- 73850-74200.

*T&C Apply…