Daily Technical Outlook

Bullion Index

The Benchmark index witnessed a Flat Opening on 8/5/25 and remain on seesaw to lower side through out the day on pressure from Gold due to somehow safe haven demand seen faded after trade deal between US – UK and schedule between US-China this weekend makes dollar index front seat and sell off seen in bullion with fail to break technical resistance after FED keep rate unchanged overnight and which all resulted in index close well below over previous day close.

Now, Index has Support 21800-21400-100-20800-20250-20000 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 61 mark with Flat slope indicates mix of the view 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 8/5/25 and remain on higher side through out the day supported by top metal consumer China offer stimulus including cutting short term rates, might improve economic situation and demand for metals added by trade deal between US – UK and schedule trade talk between US – China hope issue resolve sooner than expected and which all resulted in index close near days high and well above over previous day closing

Now index has a Support at 16550-350-200, 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 47-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