Technical Levels:
R3 - 21500/21900
R2 - 21060/190/350
R1 - 21030
Pivot - 20930
S1 - 20830
S2 - 20770/720/540
S3 - 20400/200
Technical Commentary:
The 21030-20820 regions consolidations have been progressing for the last three days. Sustainable direction only on the breakout of the range either side. However, for the day we favour and upside breakout and trigger fresh short covering rallies towards 21120/190 or even more. Inability clear above the same may trade inside the range with mild negative bias. Falls below 20650 would be a signal of weakness.
Trends:
Intraday - ConsolidateNear Term - Up
SILVERmcxAPR(m)
Technical Levels:
R3 - 57000/60000
R2 - 55000/56200
R1 - 54600/770
Pivot - 54360
S1 - 53700-600/100
S2 - 52400/52000
S3 - 51480/49800
Technical Commentary:
Broad outlooks look for an upside till 56200/57000; early attempts to evolve into such a rally targeting the same are expected to face stiff resistance at 54500-800 regions. Unsuccessful attempt to clear above the said regions has considerably weakened the momentum and the trend looks to a dip towards 53700/200 or more later. Consistent trades below 53200 would be strong weak signal.
Trends:
Intraday - Up
Near Term - Up
Technical Levels:
R3 - 465/482
R2 - 441/443.50
R1 - 438
Pivot - 434
S1 - 434/431
S2 - 426/420
S3 - 410
Technical Commentary:
Positive bias is prevailing as long as 431.50 hold as a major support. Moreover, prices trading above 50% of Fibonacci retracement of 432.70 (454.65 to 411.20) suggesting an upside initially towards 438 then 442/446 levels. Conversely, unable to break above 438 may see prices slipping downwards.
Trends:
Intraday -Up
Near Term - Consolidate
NICKELmcxMAR
Technical Levels:
R3 - 1280/94
R2 - 1220/32/48
R1 - 1214
Pivot - 1200
S1 - 1191/1172
S2 - 1162/1148
S3 - 1122
Technical Commentary:
The uptrend seen so far the day likely to continue till 1212-17 regions, but failure to hover above 1222 may call for a corrective dip towards 1192/1181 later. Unexpected falls below 1180 may be a weak signal and such falls would extend towards 1160 or more.
Intraday - Consolidate
Near Term - Down
LEADmcxMAR
Technical Levels:
R3 - 131
R2 - 125.30/127
R1 - 124
Pivot - 122.50
S1 - 121.20/119.50
S2 - 118.50/117
S3 - 106/104
Technical Commentary:
Bullish sentiments prevailing as it holds the support at 121.70. Breaks above 424 might seen an upside towards 426 /429 levels. Break below the strong support 119 would be weak signal for near term.
Intraday - Consolidate
Near Term - Up
ZINCmcxMAR
Technical Levels:
R3 - 111
R2 - 108.70/109.50
R1 - 107.20
Pivot - 106.30
S1 - 105.50
S2 - 104.80/104
S3 - 103/101
Technical Commentary:
Zinc prices has taken the major support 105.50.While above the same prices may test 107.50 for the day. Moreover, consistent trade above the same looks for 109 then 111.40 levels. On the other hand, weakness seen below 105 towards 102.90
Intraday - Up
Near Term - Consolidate
Technical Levels:
R3 - 4900
R2 - 4830/70
R1 - 4775/92
Pivot - 4745
S1 - 4720-700/4680
S2 - 4652/4570/4480
S3 - 4272
Technical Commentary:
Broad bias looks for a target of 4800/900 while above 4760, but before triggering such rallies we may see a corrective dip towards 4720-700 earlier. However direct fall below 4680 with sturdy volumes would negate our bullish expectations and call for weakness for near term.
Intraday - Up
Near Term - Up
NAT. GASmcxMAR
Technical Levels:
R3 - 204/220
R2 - 197/201
R1 - 194
Pivot - 192.20
S1 - 189/186
S2 - 181/183/186
S3 - 177/173
Technical Commentary:
While above 191 likely to move up and find resistance at 194/97 for the day. A direct fall below 188 would be required to negate the view a take prices lower.
Trends:
Intraday - Up
Near Term - Consolidate
