MCX CHANA Range bound Movement expected in MCX CHANA Jan Contract. Likely to trade in the range of Rs. 2175 - 2210.Can Sell January Contract above Rs. 2210 for the target of Rs. 2190Can Buy January Contract below Rs. 2175 for the target of Rs. 2190
Refined Soy Oil
Dec : Buy Dec contract at higher levels around Rs. 524.0 for the profit target of Rs. 527.0 , stop loss - 522.5
Jan : Buy Jan contract at higher levels around Rs. 532.0 for the profit target of Rs. 535.0 , stop loss - 530.5
Kapas April 2008
Kapas Futures market is likely to up. Can Buy Kapas at MCX around - below Rs. 446 - 447.0 and likely first target is Rs 449.00 - 450.00 with a Stop Loss at Rs. 443.
Kapaskhali
Can Buy Kapaskhali December contract at market open for the target of Rs. 336, Stop loss at Rs. 329
Bullion Trading Strategies(Intra-day)
Gold seems to be bearish, Can initiate a sell position around 10300 levels with a stop loss around 10350 levels with a profit target of 10220 , and next target 10200 .
Silver seems to be bearish can initiate a sell position around 18950 levels with a stop loss around 19050 levels and the profit target 18800 , next target 18700।
Refined Soy Oil
Dec : Buy Dec contract at higher levels around Rs. 524.0 for the profit target of Rs. 527.0 , stop loss - 522.5
Jan : Buy Jan contract at higher levels around Rs. 532.0 for the profit target of Rs. 535.0 , stop loss - 530.5
Kapas April 2008
Kapas Futures market is likely to up. Can Buy Kapas at MCX around - below Rs. 446 - 447.0 and likely first target is Rs 449.00 - 450.00 with a Stop Loss at Rs. 443.
Kapaskhali
Can Buy Kapaskhali December contract at market open for the target of Rs. 336, Stop loss at Rs. 329
Bullion Trading Strategies(Intra-day)
Gold seems to be bearish, Can initiate a sell position around 10300 levels with a stop loss around 10350 levels with a profit target of 10220 , and next target 10200 .
Silver seems to be bearish can initiate a sell position around 18950 levels with a stop loss around 19050 levels and the profit target 18800 , next target 18700।
Crude Oil looks bearish as market expects bank’s financial help not to be enough to sustain the slowing economy. Prices may be in the range of 3610 to 3660. A break of support below 3610 may cause a downward rally towards 3585.
Natural गैस seems bearish on account of ample inventories and milder temperatures in the US. Prices may target 283 initially, therefore, can sell for the same target. 2nd target may be around 281 if the sell-off continues.
Natural गैस seems bearish on account of ample inventories and milder temperatures in the US. Prices may target 283 initially, therefore, can sell for the same target. 2nd target may be around 281 if the sell-off 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 94.80 with STP @ 95.60, Target: 92.50
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 1024 with STP @ 1032, Target: 1008
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 98.90 with STP @ 99.70, Target: 96.40
Copper
Intraday outlook looks downward for copper. Due to expectation of a rise of SHFE stocks (Friday) & on concern over slowing US economic growth. Prices are likely to remain soft. Downside seems to be limited.
Intra Day Call: Short MCX Feb Copper below 261.30 with STP @ 263.20, Target: 257.20
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 94.70 with STP @ 95.30, Target: 93.20
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 94.80 with STP @ 95.60, Target: 92.50
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 1024 with STP @ 1032, Target: 1008
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 98.90 with STP @ 99.70, Target: 96.40
Copper
Intraday outlook looks downward for copper. Due to expectation of a rise of SHFE stocks (Friday) & on concern over slowing US economic growth. Prices are likely to remain soft. Downside seems to be limited.
Intra Day Call: Short MCX Feb Copper below 261.30 with STP @ 263.20, Target: 257.20
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 94.70 with STP @ 95.30, Target: 93.20
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