Daily Commodity Reports

CRUDEOIL

Monday 9 March, 2026

Short term - Technical Outlook

Crude Oil futures are currently trading near 8325, extending the powerful bullish rally after the decisive breakout from the prior consolidation zone around 6000–6800. The price has formed a strong impulsive upmove with a series of higher highs and higher lows, supported by sustained buying interest and the ascending trendline from the 5438–5901 base now acting as deep structural support far below current levels.

The breakout above 7000 has seen strong follow-through, pushing price toward the 8325–8400 extension area with increased volatility and green candle dominance. Short-term consolidation or minor profit booking is possible after the sharp advance, but momentum remains firmly bullish. A sustained move above 8400 could trigger further acceleration toward 8600–8800 levels.

On the downside, immediate support lies in the breakout zone around 8000–8200, followed by stronger levels near 6800–6000. A breakdown below 8000 would be needed to invite meaningful corrective pullback toward 6800–6000, though the current trend strength heavily favors continuation unless clear rejection appears.

 

Short term Research Report Call

Buy Above: 8400 | Targets: 8600, 8800 | Stop-loss: 8000

Sell Below: 8000 | Targets: 6800, 6000 | Stop-loss: 8200

 

Validity

19/03/2026

Pivot

8063.00

Buy Above

8256.60

R1

8522.80

R2

8801.10

R3

9297.20

Stop Loss

8184.00

Pivot

8063.00

(All values are in INR)

Sell Below

7869.40

S1

7603.20

S2

7324.90

S3

6828.80

Stop Loss

7942.00

GOLD

Monday 9 March, 2026

Short term - Technical Outlook

Gold futures are currently trading near 161675, consolidating just below the key resistance zone around 161696–162000. Price continues to respect the ascending trendline connecting higher lows from the 151225–152000 demand base, preserving a short-term bullish structure despite the mild pullback in the latest session.

The area around 161675–162000 is acting as a persistent supply barrier, with the recent red candle showing hesitation and minor rejection near the upper boundary. Multiple small-bodied candles in this zone suggest indecision between buyers and sellers. A decisive breakout and sustained close above 162000 could confirm renewed bullish momentum and target 164000–166400 or further toward 168000–169879 levels.

On the downside, immediate support lies near 160675–158677, followed by stronger structural support at 151225–152000. A breakdown below 158677 may invite short-term corrective pressure toward 156000–151225 levels.

 

Short term Research Report Call

Buy Above: 162000 | Targets: 164000, 166400 | Stop-loss: 160000

Sell Below: 158677 | Targets: 156000, 151225 | Stop-loss: 160675

 

 

 

Validity

02/04/2026

Pivot

161155.33

Buy Above

161666.05

R1

162368.29

R2

163102.45

R3

164411.17

Stop Loss

161474.53

Pivot

161155.33

(All values are in INR)

Sell Below

160644.61

S1

159942.37

S2

159208.21

S3

157899.49

Stop Loss

160836.13

NATURAL GAS

Monday 9 March, 2026

Short term - Technical Outlook

Natural Gas futures are currently trading near 294.5, showing strong bullish momentum after breaking out above the key resistance zone around 270–284. The price has formed a clear higher low and higher high structure in recent sessions, decisively reversing from the multi-week downtrend channel and closing near session highs with a solid green candle.

The broader bearish trendline from February highs has been violated, and the breakout above 284–297.7 levels signals a potential short-term trend reversal or strong relief rally. Momentum is building with increased volatility on the upside, indicating fresh buying interest. A sustained close above 300 could confirm further acceleration toward 320–330 or higher extension levels.

On the downside, immediate support now lies near 284–287, followed by the breakout origin around 270–274 and deeper demand at 254.6–260. A breakdown below 284 would be required to question the current bullish shift and invite corrective pullback toward 270–260, though momentum strongly favors buyers at present.

 

Short term Research Report Call

Buy Above: 300 | Targets: 320, 330 | Stop-loss: 284

Sell Below: 284 | Targets: 270, 260 | Stop-loss: 290

 

Validity

26/03/2026

Pivot

288.70

Buy Above

292.97

R1

298.85

R2

304.99

R3

315.93

Stop Loss

291.37

Pivot

288.70

(All values are in INR)

Sell Below

284.43

S1

278.55

S2

272.41

S3

261.47

Stop Loss

286.03

SILVER

Monday 9 March, 2026

Short term - Technical Outlook

Silver futures are currently trading near 268500, consolidating just below the key resistance zone around 270000–272000 after a steady recovery from the February lows. Price remains supported by a clear ascending trendline connecting higher lows from the major demand base near 227986–230000, maintaining short-term bullish structure with consistent buyer defense on pullbacks.

The broader range persists between the strong demand zone at 227986–235000 and the persistent supply area around 280000–291941. The current level near 268000–270000 has acted as short-term resistance in recent sessions, with the latest small red candle indicating mild hesitation and profit booking near the upper channel boundary. A decisive breakout and sustained close above 270000 could accelerate upside momentum toward 280000–291941 and potentially open the path to 305000 and 333000 levels.

On the downside, immediate support lies at 266000–268249, followed by stronger demand near 260000 and the major zone at 230000–227986. A breakdown below 266000 may invite short-term corrective pressure toward 260000–230000.

 

Short term Research Report Call

Buy Above: 270000 | Targets: 280000, 291941 | Stop-loss: 265000

Sell Below: 266000 | Targets: 260000, 230000 | Stop-loss: 270000

 

Validity

05/05/2026

Pivot

266531.33

Buy Above

268081.89

R1

270213.91

R2

272442.84

R3

276416.15

Stop Loss

267500.43

Pivot

266531.33

(All values are in INR)

Sell Below

264980.77

S1

262848.75

S2

260619.82

S3

256646.51

Stop Loss

265562.23

Market Commentary

Note: Above information is not recommending any buy or sell position, this is for your reference only and trading or investment in commodities & derivatives is subject to market risk.

Disclaimer: Investment in securities/commodities market subject to market risk, read all the related documents carefully before investing/trading.

Analyst Certification: I/We, Ayushi Jain Research Analyst, authors, and the name subscribed to this report, hereby certify that all the views expressed in this research report accurately reflect our views about the subject issuer(s) or securities. We also certify that no part of our compensation was, is, or will be directly or indirectly related to the specific recommendation(s) or view(s) in this report. NISM Research Analyst registration number – NISM-201900015194.

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