CRUDEOIL
Monday 23 February, 2026
Crude Oil – Technical Outlook
Crude Oil has rallied strongly from 5600 demand and is now trading near the major resistance supply zone around 6100. The broader trend remains bullish with higher highs and higher lows, but immediate price action suggests supply absorption near 6100–6120. A sustained breakout above this zone can extend the rally toward 6250. Any rejection below 5890 may lead to a pullback toward 5600. Trend remains bullish above 5600.
Short-Term Research Report Call
Buy Above: 6120 Target: 6250 / 6400 Stop-Loss: 5980
Sell Below: 5880 Target: 5600 / 5430 Stop-Loss: 6000
Click here to view PDF
Validity
19/02/2026
Pivot
5691.33
Buy Above
5724.29
R1
5769.61
R2
5816.99
R3
5901.45
Stop Loss
5711.93
Pivot
5691.33
(All values are in INR)
Sell Below
5658.37
S1
5613.05
S2
5565.67
S3
5481.21
Stop Loss
5670.73
GOLD
Monday 23 February, 2026
Gold – Technical Outlook
Gold is trading in a range-bound structure between 159464 resistance and 151960 support. Current price near 156980 indicates consolidation inside this band. The upper supply zone around 159000–160000 remains critical; a breakout above 159500 can open upside toward 166437. On the downside, 151960 continues to act as a strong base. Unless this support is breached, the broader structure remains sideways with a mild positive bias.
Short-Term Research Report Call
Buy Above: 159500 Target: 166400 / 175800 Stop-Loss: 154000
Sell Below: 151900 Target: 145000 / 140000 Stop-Loss: 156000
Click here to view PDF
Validity
02/04/2026
Pivot
152035.67
Buy Above
152552.31
R1
153262.69
R2
154005.36
R3
155329.25
Stop Loss
152358.57
Pivot
152035.67
(All values are in INR)
Sell Below
151519.03
S1
150808.65
S2
150065.98
S3
148742.09
Stop Loss
151712.77
NATURALGAS
Monday 23 February, 2026
Natural Gas – Technical Outlook
Natural Gas remains under a dominant descending structure despite a short-term bounce toward 279. Immediate resistance is placed at 280, followed by the major supply zone at 313. As long as price sustains below 313, the broader bias remains bearish. A rejection from 280 can resume downside toward 255. Only a decisive breakout above 313 will shift structure bullish.
Short-Term Research Report Call
Buy Above: 314 Target: 330 / 350 Stop-Loss: 295
Sell Below: 270 Target: 255 / 240 Stop-Loss: 285
Click here to view PDF
Validity
24/02/2026
Pivot
279.13
Buy Above
281.36
R1
284.42
R2
287.61
R3
293.31
Stop Loss
280.52
Pivot
279.13
(All values are in INR)
Sell Below
276.91
S1
273.85
S2
270.65
S3
264.96
Stop Loss
277.74
SILVER
Monday 23 February, 2026
Silver – Technical Outlook
Silver has broken above the immediate descending trendline and is attempting a structural recovery from the 228000–232000 demand base. Price is now trading around 252700, moving toward the key resistance band at 266600–268000. The broader structure remains corrective unless 268000 is reclaimed decisively. A sustained breakout above this level can trigger short covering toward 284700. Failure near 266000 may again attract selling pressure back toward 236000. Momentum has improved, but confirmation is required above resistance.
Short-Term Research Report Call
Buy Above: 268000 Target: 284700 / 292200 Stop-Loss: 258000
Sell Below: 236000 Target: 225000 / 210000 Stop-Loss: 248000
Click here to view PDF
Validity
05/03/2026
Pivot
230859.67
Buy Above
232722.71
R1
235284.39
R2
237962.51
R3
242736.55
Stop Loss
232024.07
Pivot
230859.67
(All values are in INR)
Sell Below
228996.63
S1
226434.95
S2
223756.83
S3
218982.79
Stop Loss
229695.27
Market Commentary
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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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