Daily Technical Outlook

Bullion Index

The Benchmark index witnessed a Gap Down Opening on 29/4/25 and remain on sideways to lower side through out the day as rebound in dollar index after trade deal possibility and some relief in tariff in Auto makes global environment positive and safe haven premium seen winding in bullion added by technical sell off after fail to break resistance level in last 2-3 session and which all resulted in index close well below over previous day close.

Now, Index has Support 21700-400-100-20800-20250-20000 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 71 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

TheThe Benchmark index seen a almost Flat Opening on 29/4/25 and remain on higher side through out the day after news that Trade deal in well progress with different nations from U.S side and also hint of ease in Auto tariff makes positive for base metals pack on demand expectations added by stimulus hope from China support prices at lower level and which all resulted in index close marginally above over previous day closing.

Now index has a Support at 16650-500-350-200, 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