Bullion Index
The Benchmark index witnessed a Flat Opening on 28/7/25 and remain on sideways to lower side throughout the day due to rebound in dollar index after week end trade deal between U.S-EU added by continue to selling from safe haven investors after trade deal optimism between list of countries with U.S and technical sell off due to price fail to break resistance zone makes long unwinding in bullion and which all resulted in index close marginally below over previous day close.
Now, the index has Support 22900-750-400-100-21800 as long hold, more upside expected towards 23800-24000 in the short term. The other side only Sustain below 21800 seen 21350-21000 / Dn rally in days to come.
Price is trading above the short-term 13-day SMA and RSI at the 52 mark, with a Downward slope, indicating a mix of views in the counter. On the other side, above the zero line, the MACD is seen buying support at every dip.
Metals Index
The Benchmark index seen a Flat Opening on 26/7/25 and remain on range bound as initially fall towards 1-week low on rebound in dollar index but later on lower level buying seen on demand hope after trade deal possibilities between list of countries & U.S but still uncertainty makes prices in range and which all resulted in index close almost Flat over previous day closing.
Now, the index has support at 17500-250-100-16950-16800-16700, as long as it holds, more upside is expected towards 17900-18000 in the medium term. While on the lower side, only sustained below 16400-200, seen 16000 again in the days to come.
Price is trading above the short-term 13 SMA, while RSI at 60 marks with an Upward slope indicates more room for upside in the counter. On the other side, slightly above the zero line, the MACD indicates more buying is seen at every dip in the counter.
Technical Levels
| Commodity | Contract Month | CLOSE | S1 | S2 | R1 | R2 | Trend |
|---|---|---|---|---|---|---|---|
| BULLIONS(Rs.) | |||||||
| Gold M | Aug | 97505 | 97250 | 97000 | 97900 | 98300 | SIDEWAYS |
| Silver M | Aug. | 112852 | 112300 | 110500 | 113600 | 114500 | SIDEWAYS |
| Energy | |||||||
| Crude Oil | Aug | 5781 | 5700 | 5650 | 5830 | 5900 | SIDEWAYS |
| Natural Gas | Aug | 267.70 | 260 | 250 | 279 | 285 | BEARISH |
| BASEMETALS | |||||||
| Copper | July | 889.55 | 882.0 | 878 | 895 | 907 | SIDEWAYS |
| Zinc | July | 264.90 | 262.50 | 260.0 | 268.0 | 271.50 | SIDEWAYS |
| Lead | July | 180.80 | 178 | 175 | 182 | 185 | SIDEWAYS |
| Nickel | July | 1351.50 | 1300 | 1250 | 1400 | 1450 | SIDEWAYS |
Vibhu Ratandhara
Digitally signed by Vibhu Ratandhara Date: 2025.07.29
Disclosure:M/s. Bonanza Portfolio Ltd here by declares that views expressed in this report accurately reflect view point with subject to companies/securities. M/s. Bonanza Portfolio Ltd has taken reasonable care to achieve and maintain independence and objectivity in making any recommendations. The Analysts engaged in preparation of this Report or his/her relative: - (a) do not have any financial interests in the subject company mentioned in this Report; (b) do not own 1% or more of the equity securities of the subject company mentioned in the report as of the last day of the month preceding the publication of the research report; (c) do not have any material conflict of interest at the time of publication of the Report. The Analysts engaged in preparation of this Report:- (a) have not received any compensation from the subject company in the past twelve months; (b) have not managed or co-managed public offering of securities for the subject company in the past twelve months; (c)have not received any compensation for investment banking or merchant banking or brokerage services from the subject company in the past twelve months; (d) have not received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past twelve months; (e) has not received any compensation or other benefits from the subject company or third party in connection with the Report; (f) has not served as an officer, director or employee of the subject company; (g) is not engaged in market making activity for the subject company.
M/s. Bonanza Portfolio Ltd operates under the regulation of SEBI Regn No. INH100001666 and research analyst engaged in preparation of report
Disclaimer:This research report has been published by M/s. Bonanza portfolio Ltd and is meant solely for use by the recipient and is not for circulation. This document is for information purposes only and information / opinions / views are not meant to serve as a professional investment guide for the readers. Reasonable care has been taken to ensure that information given at the time believed to be fair and correct and opinions based thereupon are reasonable, due to the nature of research it cannot be warranted or represented that it is accurate or complete and it should not be relied upon as such. If this report is inadvertently send or has reached to any individual, same may be ignored and brought to the attention of the sender. Preparation of this research report does not constitute a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual clients. Past performance is not a guide for future performance. This Report has been prepared on the basis of publicly available information, internally developed data and other sources believed by Bonanza portfolio Ltd to be reliable. This report should not be taken as the only base for any market transaction; however this data is representation of one of the support document among other market risk criterion. The market participant can have an idea of risk involved to use this information as the only source for any market related activity. The distribution of this report in definite jurisdictions may be restricted by law, and persons in whose custody this report comes, should observe, any such restrictions. The revelation of interest statements integrated in this analysis are provided exclusively to improve & enhance the transparency and should not be treated as endorsement of the views expressed in the analysis. The price and value of the investments referred to in this report and the income from them may go down as well as up. Bonanza portfolio Ltd or its directors, employees, affiliates or representatives do not assume any responsibility for, or warrant the accuracy, completeness, adequacy and reliability of such information / opinions / views. While due care has been taken to ensure that the disclosures and opinions given are fair and reasonable, none of the directors, employees, affiliates or representatives of M/s. Bonanza portfolio Ltd shall be liable. Research report may differ between M/s. Bonanza portfolio Ltd RAs and other companies on account of differences in, personal judgment and difference in time horizons for which recommendations are made. Research entity has not been engaged in market making activity for the subject company. Research analyst has not served as an officer, director or employee of the subject company. Research analyst have not received any compensation/benefits from the Subject Company or third party in connection with the research report
