Commodity Big Shot-Indian Market View, VOL-111

Our top pick in Gold proven great while other commodities like Silver, Copper and Nickel too fulfilled our expectation very well. Hope you all enjoyed our levels on a daily basis.

Today's data and Event

US JOLTS Job Openings data at 8.30 PM

Bullion

Gold has support at 47400 and resistance at 48100. 

Break and sustain above 48100 will take it to 48500---48800 levels else it could test its support level of 47400 again. 

More and more downside panic will see on a close below 47400 mark. 

Keep profit booking and revise stop loss below 47400. 

On the other hand, Silver has support at 68800 and resistance at 70500---70900

More and more upside rally we will see on a close above 70900 levels. Till then traders can trade within a range and wait for confirmation. 

MCXBULLDEX

Hold long with revise stop loss below 14950. Others can wait for fresh entry. 

Base Metal

1) Copper has support at 610 and resistance at 621---627. Looks positive above 621 and could test 624---627. Fresh selling we will do on a close below 610 mark

2) Nickel has support at 1310 and resistance at 1325. Above 1325, target looks 1340---1350. Support and stop loss below 1310. 

3) Zinc has support at 209 and resistance at 213.50

4) Lead has support at 164 and resistance at 167

5) Aluminum has support at 163 and resistance at 167.50. Looks positive and could test it's resistance. 

Energy

Crude oil has support at 4170 and resistance at 4250.

Above 4250... Target looks 4340---4400+++ levels. Support and revise stop loss below 4160 on a closing basis. 

Top Pick

Base metal still looks positive on the daily chart but be cautious near to its resistance levels or profit booking at higher levels. 

Gold mini as per Gold... Keep profit booking at higher levels and revise stop loss below 47400. 

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