Refined Soy Oil
Jan : Buy Jan contract at lower levels around Rs. 540.5 for the profit target of Rs. 543.5 , stop loss - 539.0Feb : Buy Feb contract at lower levels around Rs. 546.3 for the profit target of Rs. 549.3 , stop loss - 544.8
Jan : Buy Jan contract at lower levels around Rs. 540.5 for the profit target of Rs. 543.5 , stop loss - 539.0Feb : Buy Feb contract at lower levels around Rs. 546.3 for the profit target of Rs. 549.3 , stop loss - 544.8
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 91.40 with STP @ 92.20, Target: 90.15
Nickel
Intraday outlook looks range bound for Nickel. Nickel prices are likely to remain suppressed in short term. Weakness in U.S., European stainless steel markets likely to cap nickel.
Intra Day Call: Short MCX Dec Nickel below 1032 with STP @ 1044, Target: 1012
Lead
Intraday outlook looks downward for Lead। Forecast is for mild U।S. winter and the resumption of shipments from Australian mine Magellan next year bearish for lead. 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.
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 91.40 with STP @ 92.20, Target: 90.15
Nickel
Intraday outlook looks range bound for Nickel. Nickel prices are likely to remain suppressed in short term. Weakness in U.S., European stainless steel markets likely to cap nickel.
Intra Day Call: Short MCX Dec Nickel below 1032 with STP @ 1044, Target: 1012
Lead
Intraday outlook looks downward for Lead। Forecast is for mild U।S. winter and the resumption of shipments from Australian mine Magellan next year bearish for lead. 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।75 with STP @ 98.55, Target: 96.05
Copper
Intraday outlook looks downward for copper. Slowdown in US economy expected to affect the demand for copper in short tem.
Intra Day Call: Short MCX Feb Copper below 257.90 with STP @ 259.30, Target: 254.90
Aluminum
Intraday outlook looks range bound for aluminum, relatively steady despite the weakness in other base metals and looks firm.
Intra Day call: Long MCX Dec Aluminum above 93.90 with STP @ 93.10, Target: 95.10
Intraday outlook looks downward for copper. Slowdown in US economy expected to affect the demand for copper in short tem.
Intra Day Call: Short MCX Feb Copper below 257.90 with STP @ 259.30, Target: 254.90
Aluminum
Intraday outlook looks range bound for aluminum, relatively steady despite the weakness in other base metals and looks firm.
Intra Day call: Long MCX Dec Aluminum above 93.90 with STP @ 93.10, Target: 95.10
Rubber Strategy
International markets are UP by 1।29%October to December are the peak production months Production of natural rubber is likely to go up during October-Januar y, which is the peak production season। Natural rubber production is expected to be 90,000 tonne in October, 1.1 lakh tonne in November and 1.5 lakh tonne in December this year, - (Rubber Board )Rains in Kerala had lent support to any downtrend in prices; now with clear weather arrivals will increase and easen the pricesRise in crude oil prices have agian given a momentum to NR prices. Rubber JanStartegy 1: Buy above 9450 for targets of 9550, 9580 with s/l of 9420. Startegy 2: Sell only below 9400 for targets of 9310, 9300 with s/l of 9430
Cardamom Strategy
A crop loss of over 30% has been estimated this season.
Arrivals are half of what used to be same period last year.
Markets appear to be long term bullish
Exports have been good and thus demand for 7 mm and above grade will be good.
Auction prices was steady to better in Sunday's auction at Kumily.
Cardamom Jan
Strategy 1: Buy only definite break above 602 for targets of 607, 610 s/l 599.
Startegy 2: Sell below 593 for targets of 587, 585 s/l 596
Cardamom Feb
Strategy 1: Buy only above 612 for targets of 617, 620 s/l 609.
Startegy 2: Sell below 606 for targets of 600, 598 s/l 608
A crop loss of over 30% has been estimated this season.
Arrivals are half of what used to be same period last year.
Markets appear to be long term bullish
Exports have been good and thus demand for 7 mm and above grade will be good.
Auction prices was steady to better in Sunday's auction at Kumily.
Cardamom Jan
Strategy 1: Buy only definite break above 602 for targets of 607, 610 s/l 599.
Startegy 2: Sell below 593 for targets of 587, 585 s/l 596
Cardamom Feb
Strategy 1: Buy only above 612 for targets of 617, 620 s/l 609.
Startegy 2: Sell below 606 for targets of 600, 598 s/l 608
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