Refined Soy Oil
Dec : BUY Dec contract at around Rs. 530.0 for the first profit target of Rs. 532.5 and the second target of Rs. 534.0 , stop loss - 528.५Jan : BUY Jan contract at around Rs. 537.0 for the first profit target of Rs. 539.5 and the second target of Rs. 541.0, stop loss - 535.५
MCX CHANA
Some ares of MP showing good acreage. Market continues to remain downside as more old stock arrives in Mandis, and is unable to take any direction - expected to trade in the band of Rs. 2220 - 2260 or 2270 - 2280 Intraday. Sell December at opening prices around Rs. 2250 - 2260 for the target of Rs. 2240 - 2225
Kapas April 2008
Kapas Futures market is likely to remain sideways to low today.
Can SELL Kapas at MCX around - below Rs. 446.0 - 445.00 and likely first target is Rs 443.10 - 442.00 with a Stop Loss at Rs. ४४८trading Strategies for Gold and Silver (Intra day).
Gold seems to be bearish, Can initiate a sell position around10200 levels with a stop loss around 10250 levels with a profit target of 10120 , and next target 10100 .
Silver seems to be bearish can initiate a sell position around levels with a stop loss around 18950 levels and the profit target 18800 , next target 18700.Crude Oil
Crude oil prices might rise today as market expects no increase in crude oil production during the OPEC meeting to be held on December 5, 2007. 1st support may be around 3490 while 1st resistance may be around 3545 so can buy initially with the same target. Any news regarding OPEC’s decision on production may move prices accordingly.
Natural Gas
Outlook for natural gas continues to be bearish owing to ample inventory levels. Market may witness 1st support at 282 and 1st resistance at 287. Can sell initially with a target of 282 and stop loss of 287. 2nd target may be around 279. A break above 287 can cause a rally towards 290 levels. 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 canceling 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 102.20 with STP @ 103.00, Target: 100.10
Nickel
Intraday outlook looks upward for Nickel. Nickel prices are likely to hover below. Upside momentum could trigger due to short covering as market is in severe oversold condition. Weakness in U.S., European stainless steel markets likely to cap nickel.
Intra Day Call: Long MCX Dec Nickel above 1095 with STP @ 1087, Target: 1112
Lead
Intraday outlook looks downward for Lead. Delay of exports tightening may lend support to lead prices which had softened last month as China may suspend imposing export duties on refined lead, Prices may weaken in short term due to substantial increase in LME inventories.
Intra Day Call: short MCX Dec Lead below 120.80 with STP @ 121.60, Target: 118.50
Copper
Intraday outlook looks downward for copper. As bounce was corrective and downtrend expected to resume as further upside movement seems to be limited. Price could fuel on concern over expectation of another FED interest rate cut which buoys the market.
Intra Day Call: Short MCX Feb Copper below 278.30 with STP @ 280.10, Target: 274.10
Aluminum
Intraday outlook looks downward 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.