Daily Technical Outlook

Bullion Index

The Benchmark index witnessed a Gap Up Opening on 24/4/25 and remain on sideways to higher side through out the day thanks to fall in dollar index after previous day gain due to in & out statement from US President makes safe haven buying in bullion and which all resulted in index close near days high and well above over previous day close.

Now, Index has Support 21950-700-400-100-20800-20250-20000 as long hold, more upside expected towards 22700-22800 in short term. Other side only Sustain below 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 73 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 24/4/25 and remain on sideways to higher side through out the day due to likely ease in Trade war between US-China which might improve economic situation as well demand for base metals added by technical bounce after fail to break support level and which all resulted in index close near days high and well above over previous day closing.

Now index has a Support at 16750-500-350-200, 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 below short term 13 SMA while RSI at 46-marks with Downward slope indicates more room for down side in the counter. Other side slight below zero line MACD indicates more selling pressure at every rally in the counter.

Technical Levels