Bullion market is bearish on day trading at MCX, in today trade gold and silver fall with a sharp edge on early trade. On intraday trading gold prices touch a high of 26269 with a low of 26141. In today remaining session gold for future delivery expected to trade in bearish side with some correction in evening session. If we move towards white metal a low bearish trend is watched on morning and noon session with a decrement of more than -400 point against its yesterday close. More depreciation is expected due to low physical buying that were reduces due to off season. On intraday trading for July delivery it touch a high of 40700 and low of 40515.
Natural gas trying to recover on electronic buying after a morning low trading, MCX natural gas are trading with a support of 215 with a resistance of 227. Some corrections are also experience on base metal in evening trading session.
Nickel support and resistance
S1: 821, S2: 817
R1: 847, R2: 852
Lead support and Resistance
S1: 122.50, S2: 121
R1: 127.80, R: 128.30
MCX tips
SELL CRUDE OIL JULY BELOW 6080 TGT 6070, 6050, 6030 STOPLOSS 6135
SELL GOLD AUGUST BELOW 26200 TGT 26150, 26050, 25900 STOPLOSS 26520
SELL SILVER JULY BELOW 40600 TGT 40500, 40400, 40200 STOPLOSS 41000
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