Gold Commodities India

Author having wide experience in Commodities market and advising from last 13 years.

Independent  |  INH000005069

Gold Commodities India Calls

CMP

3828.0

Support-1

3750.0

Support-2

3700.0

Resistance-1

3900.0

Resistance-2

3960.0

Description

Now some support at lower levels can be seen. On downside 3700-3800 area will be support for coming days. On higher side 3900-3950 is the area from where again supply can be seen. So on dips try to accumulate and sell on rallies towards resistance area.

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CMP

456.5

Support-1

450.0

Support-2

446.0

Resistance-1

460.0

Resistance-2

466.0

Description

Volatile session seen because of US-CHINA trade war talks. Last week we mentioned about the possible jump on close above 447. Now On lower side 450-452 is a strong support zone. So buying from lower levels can be done. On higher side if manage to close above 459 then can rise towards 472 in coming sessions.

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CMP

35036.0

Support-1

34850.0

Support-2

34670.0

Resistance-1

35200.0

Resistance-2

35450.0

Description

On Friday, profit booking was seen from higher levels. The candle formed is not good indication for Gold Bulls. So keep eye on 34850 level. If sustain and close below same then some more dips can be seen in coming sessions. But overall in major dips try to accumulate at lower levels for positional trade. In intraday on higher side will face resistance at 35150-35200 ranges.

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CMP

39326.0

Support-1

39100.0

Support-2

38750.0

Resistance-1

39500.0

Resistance-2

39800.0

Description

right from 37450, all clients were recommended to hold positional for the target of 39500. Yesterday we booked full profit in Silver. Now for today every dip will be well supported by buying. On downside support at 39100-39200 area. So buying on dips still suggested.

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CMP

34882.0

Support-1

34675.0

Support-2

34500.0

Resistance-1

35100.0

Resistance-2

35350.0

Description

Now on higher side facing distribution around 35000 area. from now onwards if not manage to cross and close above 35100 then a fall towards 34600-34500 area can be seen.

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CMP

4086.0

Support-1

4050.0

Support-2

4000.0

Resistance-1

4120.0

Resistance-2

4175.0

Description

As written here yesterday, some consolidation or correction may be seen. So wait for dip. on downside 4050-4000 next support range. On higher side today will face resistance at 4100-4120 area.

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Buy In Range

Copper

July 16, 2019, 8:11 a.m.

Intraday

CMP

445.45

Support-1

438.0

Support-2

442.0

Resistance-1

452.0

Resistance-2

448.0

Description

Now on downside 442-440 area is support area. If this area is not broken and manage to sustain and close above 447 then more upside can be seen in coming sessions.

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CMP

193.9

Support-1

191.0

Support-2

189.0

Resistance-1

195.0

Resistance-2

198.0

Description

Base in the area of 191-190. From now onwards if Zinc not close below 190 then upside towards 197-199 area for coming days can be seen. So buying area around 191 with closing SL of 189 can be placed for positional trade.

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CMP

4138.0

Support-1

4080.0

Support-2

4020.0

Resistance-1

4170.0

Resistance-2

4250.0

Description

after a good run, crude needs to consolidate or correct from current levels. Further upside only if manage to close above 4170. On downside support at 4100 area. If sustain below this then some correction can be seen. So time to cut pick in the range of 4080-4170.

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CMP

34701.0

Support-1

34600.0

Support-2

34350.0

Resistance-1

34850.0

Resistance-2

35100.0

Description

Yesterday we mentioned here that closing above 35100 needed for further upside. But rejection from higher levels around 35100 suggesting distribution around 35000 in Gold. So now we can expect range bound trading for few more sessions.For today it will face resistance and supply at 34800-34850 ranges. From this levels short term selling can be done. On lower side 34600-34500 will be support area. If today manage to close below 34600 then next week we can expect some more deep correction.

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CMP

34839.0

Support-1

34700.0

Support-2

34500.0

Resistance-1

35100.0

Resistance-2

35350.0

Description

Yesterday Gold manage to sustain above 34650. This was the near term break out for the Gold. There after closed at highest point of the day. Now on higher side next resistance zone is at 35100 ranges. Once manage to close above this then more upside will be seen in coming sessions. The primary trend is still up in Gold. If manage to close above $1440 then more upside towards $1480 ca be seen in coming sessions.

Click here to see Gold Commodities India's all calls.