Commodity Big Shot-Indian Market View, VOL-129

Today, traders should concentrate Non Farm payroll data which is at 7 PM. Forecast figure is positive for Dollar and Base metal while negative for Bullion.

Bullion

Gold support at 44000---43500.

Resistance at 45000.

Be cautious at lower levels as Gold has strong support at 43500 levels.

Silver has support at 65000.

Resistance at 68000.

Trading in a very tight range though bias is negative. We will get clear picture after expiry.

Mcxbulldex

Support at 14000 and resistance at 14400.

Trend is negative. So trade safely with the given levels with strict stop loss.

Base Metal... Crashed vertically

1) Copper... Support at 660 and resistance at 690.

2) Nickel has support at 1130 and resistance at 1200.

3) Zinc has support at 210 and resistance at 220.

4) Lead has support at 160 and resistance at 166.

5) Aluminum has support at 171 and resistance at 176.

Energy

Hope you all minted money in Crude oil. Stop loss triggered in Natural Gas.

Crude oil has support at 4500 and resistance at 4750

Natural Gas has support at 195 and resistance at 210.

Top Pick

Expect dead cat bounce in base metals from its support. Buy near to the support and profit booking at higher levels will be the best trading strategy for the day.

More we will update during market hours.

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