Daily Strategy
Sugar January and December at current market price for target of Rs। 15 down। The spot price likely to be in the range of Rs। 1260 -1265। Refined Soy Oil Dec : SELL Dec contract at lower levels around Rs. 531 for the first profit target of Rs. 528, stop loss - 532.5
Jan : SELL Jan contract at lower levels around Rs. 538 for the first profit target of Rs. 535.5, stop loss - 539.5 CHANA: मार्कet trading range bound and is unable to take any direction - expected to trade in the band of Rs. 2240 - 2280 Intraday.
Sell December in the upper band of Rs. 2270 - 2260 for the target of Rs. 2255
Buy December in the lower band of Rs. 2240 - 2250 for the target of Rs. २२७०
Trading Strategies for Gold and Silver (Intra day).
Trading Calls.
Gold seems to be bearish, Can initiate a sell position around10260 levels with a stop loss around 10300 levels with a profit target of 10200 , and next target 10160 .
Silver seems to be bearish can initiate a sell position around 18850 levels with a stop loss around 18950 levels and the profit target 18700 , next target 18600.
Crude Oil
Crude oil prices rose on news of a pipeline explosion disrupting Canadian supplies to US refiners. The prices corrected themselves lower after some part of the damage was repaired restoring supplies. Today, prices may continue to fall towards 3585 levels, therefore, can sell for the same target. Further movement would depend on any news regarding the above mentioned pipeline that is under repair.
Natural Gas
Natural gas fell yesterday as stockpiles declined less than expected. Inventories fell only 12 billion cubic feet as against an expectation of a 20 billion cubic feet decline. The bearish momentum may continue today with prices declining towards 297 levels, hence, can sell for the same target. If the sell off continues, 2nd target may be around 294.