Based on the technical analysis of the provided NCDEX GUARGM5 (16OCT2026) 15-minute timeframe chart, here is the breakdown of the market direction, key support and resistance zones, and indicator interpretations:
Market Direction
- Short-Term: Neutral to Mildly Recovery / Consolidating
- Market Status: Following a sharp corrective pullback from the upper swing peaks, the commodity has found a local demand base near the 12,850 – 12,950 region and staged a recovery back toward the 13,059 level, crossing back above the short-term moving average line.
Support & Resistance Levels
| Level Type | Price Zone / Point | Significance |
| Major Resistance (R2) | 13,350.00 – 13,490.00 | The heavy overhead supply zone and previous multi-session high extension level. |
| Intermediate Resistance (R1) | 13,160.00 – 13,280.00 | The immediate overhead hurdle and local swing barrier marking the prior breakdown zone. |
| Current Price / Pivot | 13,059.00 | The active market pivot point where price action is currently consolidating its recent recovery gains. |
| Immediate Support (S1) | 12,950.00 – 13,000.00 | The first short-term demand floor and dynamic moving average cushion protecting against minor intraday pullbacks. |
| Intermediate Support (S2) | 12,820.00 – 12,880.00 | A secondary technical support zone corresponding to recent reaction lows. |
| Major Support (S3) | 12,600.00 – 12,750.00 | The primary structural baseline established during the prior corrective low. |
Indicator Summary
- Price Action: Rebound candles crossing back above the moving average line, showing a short-term recovery near 13,059.00.
- RSI (14): Hovering at 51.79, sitting right at the neutral 50 line, indicating a balanced momentum state between buyers and sellers.
- MACD: Displays a positive histogram value of 18.59 with the MACD line turning up toward the signal line, verifying nascent short-term bullish momentum.
Contact: +919063295953/4 | Website: www.mcxtips.in
Disclaimer: This analysis is strictly for informational and educational purposes and does not constitute financial advice.
