Kapas April 2008
Kapas Futures market is likely to remain sideways to up.
Can Buy Kapas at MCX around - below Rs. 442 - 443.0 and likely first target is Rs 445.00 - 447.00 with a Stop Loss at Rs. 439 MCX CHANA
Market is closed range bound to flat in the last session showing signs of indecisiveness. If market closes flat to down today, downward trend is likely to continue.
Incase market hovers up, a bounce back is likely.Can Sell in the range of Rs. 2158 - 70 for the first target of Rs. 2140 and the second target of Rs. 2100, Stop loss at Rs. 2190.
Inter Exchange ArbitrageInitiate Inter Exchange arbitrage at a point when MCX is trading at a discount of Rs. 30 below NCDEX i.e Buy MCX December and Sell NCDEX December Contract. Target difference is Rs. 30 Hold Positions till December Expiry on 20th December, 07Refined Soy Oil
Dec : Sell Dec contract at higher levels around Rs. 526.0 for the profit target of Rs. 523.0 , stop loss - 527.5
Jan : Sell Jan contract at higher levels around Rs. 532.5 for the profit target of Rs. 529.5 , stop loss - 534.0Trading Strategies for Gold and Silver (Intra day).
Gold seems to be bearish, Can initiate a sell position around 10310 levels with a stop loss around 10360 levels with a profit target of 10230 , and next target 10200 .
Silver seems to be bearish can initiate a sell position around 19350 levels with a stop loss around 19450 levels and the profit target 19200 , next target 19100.
Spread Strategies.
Gold
The spreads between Gold Feb and Gold Apr are hovering between 70 and 75 at present.
If the spread comes down to 65/70 the strategy would be Buy Apr and Sell Feb and reverse your position if the spread increases to 80

Silver
The spreads between Silver March and Silver May are hovering around 310 and 340 If the spread comes down to 310 the strategy would be to sell Mar and buy May and reverse your position if the spread increases to 340/350 If the spread goes higher to 400 then can do vise a versa also.

Arbitrage.
Gold Regular vs. Gold Mini
The spread between Gold Regular and Gold Mini is hovering around 1-4 Rs. If the spread increases to 10, then sell 10 gold mini and buy 1 gold regular and reverse your position when the spread
decreases to 2/4.

Silver Regular vs. Silver Mini
The spread between Silver Regular and Silver Mini normally is between the range of 3 to 10 Rs. If difference is around 15-20 the strategy here would be sell silver mini 6 lots and buy silver regular 1 lot and reverse your position whenever the difference minimizes.
Crude Oil
Crude oil looks bearish as market perceives the Fed rate cut would not be enough to sustain the slowing US economy leading to lowered demand. Prices may target 3500 initially, therefore, can sell for the same target. If the sell off continues, 2nd target may be around 3475. Further movement would depend on actual inventory levels to be released at 9pm today. Expected inventory for crude oil is a fall of 0.75 million barrels.
Natural Gas
Natural Gas seems bullish as lowered temperature raise demand for the power fuel. Prices may target 281 levels initially, therefore, can buy for the same target. 2nd target may be around 283 if the upward rally continues. Zinc
Intraday outlook looks downward for zinc. In near term Zinc could retrace higher due to short covering & bargain hunting and on a talk of delaying cancellation of 5% value-added tax rebates on refined zinc exports, which could limit the exports and may provide support to the prices.

Intra Day Call: Short MCX Dec Zinc below 94.20 with STP @ 95.00, Target: 92.00

Nickel
Intraday outlook looks downward for Nickel. Nickel prices are likely to hover below. Upside momentum could trigger due to short covering as market is in oversold condition. Weakness in U.S., European stainless steel markets likely to cap nickel.

Intra Day Call: Short MCX Dec Nickel below 1038 with STP @ 1046, Target: 1022

Lead
Intraday outlook looks downward for Lead. Forecast is for mild U.S. winter bearish for lead and the resumption of shipments from Australian mine Magellan next year. Prices may weaken in short term due to substantial increase in LME inventories but prospect of an increase in the China’s lead export tax will give the metal upside momentum.

Intra Day Call: Short MCX Dec Lead below 97.00 with STP @ 98.80, Target: 94.60

Copper
Intraday outlook looks downward for copper. As the FED 25bps cut had been fully factored into the prices before the announcement, and due to expectation of a rise of SHFE stocks (Friday). Prices are likely to remain soft. Downside seems to be limited.

Intra Day Call: Short MCX Feb Copper below 265.90 with STP @ 262.00, Target: 267.70

Aluminum
Intraday outlook looks range bound for aluminum, relatively steady despite the weakness in other base metals and looks firm. There has been supportive buying by European consumers due stronger EUR inducing buying.

Intra Day call: Short MCX Dec Aluminum below 95.60 with STP @ 96.30, Target: 94.30
Intraday outlook looks range bound for aluminum, relatively steady despite the weakness in other base metals and looks firm. There has been supportive buying by European consumers due stronger EUR inducing buying.

Intra Day call: Short MCX Dec Aluminum below 95.60 with STP @ 96.30, Target: 94.30