Daily Technical Outlook

Bullion Index

The Benchmark index witnessed a Gap Up Opening on 20/2/25 and remain on sideways to higher side till evening session thanks to fall in dollar index and continue safe haven buying due to ongoing trade war while in evening after US weekly jobless data some recovery seen in dollar index and also ceasefire talk on geopolitical front prompt profit booking at higher level and which all resulted in index close almost flat over previous day close.

Now, Index has Support 20400-100-19900-19600 as long hold, more upside expected towards 20900-21000 in short term. Other side only Sustain below 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 72 mark with upward slope indicates more room for Upside in the counter. Other side above zero line MACD seen support prices at every dip.

Metals Index

The Benchmark index seen a Gap Up Opening on 20/2/25 and remain on sideways to higher side through out the day after news that US president announce bilateral talk between China and US on tariff which spark base metals pack as China is world largest consumer of base metals and any positive development on there economy will directly benefit base metals pack and which all resulted in index close well above over previous day closing.

Now index has a Support at 18000-17700-500-300-150, as long hold, more Upside expected towards 18300-18500 in medium term. While on lower side only sustain below 17150 seen 17000 upto 16750 again in days to come.

Price is trading above short term 13 SMA while RSI at 64-marks with Upward slope indicates mix of the view in the counter. Other side slight above zero line MACD indicates support in prices at every dip in the counter.

Technical Levels