Skip to main content

Morning Technical Analysis: Metals & Energy – March 11, 2025

Morniwng Technical Analysis: Metals & Energy – March 11, 2025

Bullion Market Overview

The bullion market remains in focus as gold and silver prices fluctuate within key technical levels.

Morning Technical Analysis: Metals & Energy – March 11, 2025


MCX Bulldex (Rs)

Support Levels: S1 ₹20,150 | S2 ₹19,840

Resistance Levels: R1 ₹20,690 | R2 ₹20,820

MCX Gold April (Rs)

Support Levels: S1 ₹85,110 | S2 ₹84,810

Resistance Levels: R1 ₹85,650 | R2 ₹85,880

Spot Gold ($)

Support Levels: S1 $2,830 | S2 $2,770

Resistance Levels: R1 $2,940 | R2 $3,000

Gold remains strong near resistance levels, with ₹85,650 on MCX and $2,940 on the spot market being crucial breakpoints. A move above these levels could indicate further bullish momentum.


MCX Silver May (Rs)

Support Levels: S1 ₹95,330 | S2 ₹94,210

Resistance Levels: R1 ₹97,570 | R2 ₹98,590

Spot Silver ($)

Support Levels: S1 $31.60 | S2 $31.00

Resistance Levels: R1 $32.80 | R2 $33.40

Silver is testing upper resistance at $32.80 and ₹97,570. A breakout above these levels could push prices higher.


Base Metals Outlook

Base metals are trading within a defined range, with copper and zinc showing resilience.


MCXMETLDEX Mar

Support Levels: S1 ₹17,950 | S2 ₹17,740

Resistance Levels: R1 ₹18,470 | R2 ₹18,790

LME Copper ($)

Support Levels: S1 $9,450 | S2 $9,380

Resistance Levels: R1 $9,590 | R2 $9,660

MCX Copper Mar (Rs)

Support Levels: S1 ₹868.10 | S2 ₹859.00

Resistance Levels: R1 ₹882.90 | R2 ₹890.80

Copper remains stable, with resistance at ₹882.90 and $9,590 being the key breakout points.


MCX Zinc Mar

Support Levels: S1 ₹268.20 | S2 ₹264.10

Resistance Levels: R1 ₹276.20 | R2 ₹280.70

Zinc prices are approaching resistance, and a breakout above ₹276.20 could trigger further gains.


MCX Lead Mar

Support Levels: S1 ₹177.60 | S2 ₹174.60

Resistance Levels: R1 ₹186.40 | R2 ₹189.80

MCX Aluminium Mar

Support Levels: S1 ₹260.40 | S2 ₹255.20

Resistance Levels: R1 ₹269.60 | R2 ₹274.10

Aluminium remains in a consolidation phase, with key resistance at ₹269.60.


Energy Market Analysis

Crude oil and natural gas are showing a bearish trend, with crude testing key support levels.


MCX Crude Mar (Trend Down)

Support Levels: S1 ₹5,670 | S2 ₹5,580

Resistance Levels: R1 ₹5,880 | R2 ₹5,970

Nymex Crude ($) (Trend Down)

Support Levels: S1 $63.10 | S2 $61.40

Resistance Levels: R1 $68.50 | R2 $70.80

Crude oil prices remain under pressure, with $63.10 acting as strong support. Any drop below this level could lead to further declines.


MCX Natural Gas Mar

Support Levels: S1 ₹380 | S2 ₹356

Resistance Levels: R1 ₹406 | R2 ₹415

Natural gas is holding above ₹380, with resistance at ₹406. A breakout above ₹415 could signal bullish momentum.


Key US Economic Data (Forecast/Previous)

3:30 PM: USD NFIB Small Business Index – Forecast: 100.9 (Previous: 102.8)

7:30 PM: USD JOLTS Job Openings

Market participants will closely watch the JOLTS Job Openings data, which could impact the US dollar and, in turn, commodity prices.


Market Outlook

Gold and Silver: Testing resistance; a breakout could signal strong upside.

Base Metals: Copper and Zinc showing resilience; Aluminium remains range-bound.

Crude Oil: Downtrend continues, with key support at $63.10.

Natural Gas: Holding above support; potential for an upward move.

Traders should watch economic data and technical breakouts for trading opportunities.

Comments

Popular posts from this blog

Nestle India Share Target: A Strategic Opportunity for Traders

Nestle India Share Target: A Strategic Opportunity for Traders Stock Name: Nestle India Ltd (NESTLEIND) Buy Price: Rs. 2261 Stop Loss (SL): Rs. 2240 Target Prices (TGT): Rs. 2286 and Rs. 2294 Nestle India, a subsidiary of the global food and beverage giant Nestle S.A., continues to attract attention in the Indian equity market. Known for its strong fundamentals, consistent performance, and robust brand portfolio, Nestle India often becomes a preferred choice for both long-term investors and short-term traders. In this blog post, we delve into the recent trading recommendation for Nestle India, which advises a buy at Rs. 2261, with a stop loss at Rs. 2240 and short-term targets of Rs. 2286 and Rs. 2294. Let’s explore the rationale behind this trade setup and what it means for traders looking to capitalize on short-term opportunities. Technical Analysis at a Glance From a technical standpoint, Nestle India is showing signs of bullish momentum. The stock has been forming higher lows,...

Jubilant FoodWorks (JUBLFOOD) Share Target Analysis

Jubilant FoodWorks (JUBLFOOD) Share Target Analysis Stock Idea: BUY JUBLFOOD @ 675 If you're looking to capitalize on short-term momentum in the stock market, Jubilant FoodWorks (NSE: JUBLFOOD) presents a compelling opportunity. Based on recent technical patterns and market sentiment, here’s a concise trade setup: Buy Price: Rs. 675 Stop Loss (SL): Rs. 645 Target (TGT): Rs. 720 Why JUBLFOOD? Jubilant FoodWorks, the master franchisee for Domino's Pizza and Dunkin' Donuts in India, has shown resilience in volatile market conditions. With a strong brand presence and consistent quarterly performance, it continues to attract investor interest. Technical Outlook Recent chart patterns indicate a breakout from a consolidation phase with increasing volume, signaling bullish strength. The support level at Rs. 645 has held firm, making it a suitable stop-loss point. A rally towards Rs. 720 is anticipated if momentum sustains. Risk-Reward Ratio This setup offers a...

Vedanta Share Price Target 2025 - Detailed Analysis

Vedanta Share Price Target 2025 Vedanta Limited, a prominent player in India's natural resources sector, has garnered significant attention from investors due to its diversified portfolio and consistent performance. As of March 2025, the company's market capitalization stands at approximately ₹1.77 lakh crore, with a price-to-earnings (P/E) ratio of 15.65 and a dividend yield of 10.42%.  These metrics underscore Vedanta's robust financial health and its appeal to income-focused investors. Historical Performance and Current Position Over the past year, Vedanta's share price has exhibited notable growth: 52-Week High: ₹526.95 52-Week Low: ₹249.50 Current Price: ₹452.60 (as of March 2025), reflecting a 79.50% increase over the last year.  FINANCIALSEARCHGROUP.COM This upward trajectory can be attributed to strong financials and attractive dividend payouts, positioning Vedanta as a preferred choice for income-driven investors. Share Price Targets: 2025 to 2030 A...