Bullion Index
The Benchmark index witnessed a Minor Gap Down Opening on 29/5/25 but remain on higher side through out the day as lower level buying seen after price hit 1-week low earlier added by weakness in dollar index and technical bounce back after price fail to break key support zone, other side market digest overnight FED last meeting minutes and US court order in reciprocal tariff and which all resulted in index close near days high and well above over previous day close.
Now, Index has Support 21800-350-150-21000 as long hold, more upside expected towards 22700-22800 in short term. Other side only Sustain below 20800-250-20000-19900-600 seen 19400-100-18900 seen again 18200-17850-650/upto 17100-17000 in days to come.
Price is trading above short term 13-days SMA and RSI at 55 mark with Upward slope indicates more room for Upside in the counter. Other side above zero line MACD seen buying support at every dip.
Metals Index
The Benchmark index seen a Flat Opening on 29/5/25 and remain on higher side till evening session supported by US court order to hold reciprocal tariff which might improve global trade health as well demand for base metals, while in evening sell off seen due to uncertainty about tariff war and technical long unwinding after price fail to break resistance zone and which all resulted in index close near days low and well below over previous day closing.
Now index has a Support at 16800-400-200, as long hold, more Upside expected towards 17900-18000 in medium term. While on lower side only sustain below 16200 seen 16000 again in days to come.
Price is trading above short term 13 SMA while RSI at 47-marks with Flat slope indicates more room for Upside in the counter. Other side slight below zero line MACD indicates more selling pressure at every rally in the counter.
Technical Levels
| Commodity | Contract Month | CLOSE | S1 | S2 | R1 | R2 | Trend |
|---|---|---|---|---|---|---|---|
| BULLIONS(Rs.) | |||||||
| Gold M | June | 95295 | 94950 | 94500 | 95600 | 96000 | SIDEWAYS |
| Silver M | June | 97715 | 96500 | 95800 | 98400 | 99300 | SIDEWAYS |
| Energy | |||||||
| Crude Oil | June | 5215 | 5180 | 5140 | 5260 | 5330 | SIDEWAYS |
| Natural Gas | June | 299.40 | 294 | 283 | 307 | 317 | BEARISH |
| BASEMETALS | |||||||
| Copper | June | 862.25 | 852.0 | 842 | 868 | 875 | SIDEWAYS |
| Zinc | June | 254.30 | 253.0 | 250.0 | 258.0 | 260.0 | BEARISH |
| Lead | June | 178.20 | 175 | 173 | 180 | 182 | SIDEWAYS |
| Nickel | June | 1326.70 | 1300 | 1250 | 1400 | 1450 | SIDEWAYS |
Vibhu Ratandhara
Digitally signed by Vibhu Ratandhara Date: 2025.05.30
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