Commodity Big Shot-Indian Market View, VOL-117

Bullion's not able to breach their resistance level of 47600 and slipped. We recommended selling below 47100 levels. On the other hand, base metals traded within a range.

Today's data and Event

US Retail and Core Retail sales data at 7 PM.

Bullion

Gold has support at 46600 and resistance at 47600. 

Either side break or close with volume will decide further. Till then traders can trade within a range and wait for confirmation.

On the other hand, Silver has support at 68000 and resistance at 71000

Expect range bound trading in today's trading session. Trend is not clear, so trade safely as per levels given.

MCXBULLDEX

Support at 14800 and resistance at 15200. 

Stop loss triggered in it. Exit and wait for fresh entry.

Base Metal

1) Copper has support at 641 and resistance at 651.

2) Nickel has support at 1340 and resistance at 1370.

3) Zinc has support at 226 and resistance at 229.

4) Lead has support at 170 and resistance at 174

5) Aluminum has support at 167 and resistance at 169.

Energy

Crude oil has resistance at 4425. 

Gap down opening below 4350 will take it to 4280---4250 levels. Hurdle and stop loss above 4425.

Top Pick

Buy Copper around 643. Stop loss below 641. Target 645---648

Read disclaimer before investing. For queries, contact your RM