MCX CHANA
Market expected to be bearish and likely to trade in the range of Rs. 2130 - 2100.
Participants advised to Sell at any upside movement in the market. Sell at higher levels for a lower target. Participants may book profits or square off positions at any oppurtunity of short covering
Refined Soy Oil
Jan : Buy Jan contract at around Rs. 555.90 for the profit target of Rs. 558.9 , stop loss 554.5Feb : Buy Feb contract at around Rs. 565.3 for the profit target of Rs. 568.3, stop loss 563.8
Kapas April 2008
Can BUY Kapas at MCX around Rs. 469.0 - 470.0 for the likely target of Rs 472- 73 with a Stop Loss at Rs. 466.
Trading Strategies for Gold and Silver (Intra day)
Gold seems to be bullish, Can initiate a buy position around 10820 levels with a stop loss around 10770 levels with a profit target of 10900, and next target 10920 .
Silver seems to be bullish can initiate a buy position around 19800 levels with a stop loss around 19700 levels and the profit target 20000 , next target 20100.
Spread Strategies.
Gold
The spreads between Gold Feb and Gold Apr are hovering between 60 and 65 at present.
If the spread comes down to 58/60 the strategy would be Buy Apr and Sell Feb and reverse your position if the spread increases to 70
Silver
The spreads between Silver March and Silver May are hovering around 280 and 300 If the spread comes down to 275 the strategy would be to sell Mar and buy May and reverse your position if the spread increases to 300 If the spread goes higher to 380 then can do vise a versa also.
Arbitrage.
Gold Regular vs. Gold Mini
The spread between Gold Regular and Gold Mini is hovering around 0-3 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 rallied touching new highs yesterday on account of unrest in Nigeria. The bullish momentum may continue to day, too, with prices targeting 3925 levels, hence, can buy for the same target. Further movement would depend on actual inventory data to be released at 9pm today. Expected inventory data is a fall of 3 million barrels. A break of support below 3875 may see prices moving towards 3845 levels.
Natural Gas
Natural gas seems bullish as cold weather pushes demand in the North-east of the US. Prices may target 311 levels initially, therefore, can buy for the same target. 2nd target may be around 213 if the upward rally continues. A break of support below 208 may trigger a downward rally towards 205 levels.
Zinc
Intraday outlook appears down ward for zinc . Increasing inventories and expected supply in 2008 could be dampening to the prices in long term.
Intra Day Call: Short MCX Jan Zinc below 97.10 with STP @ 97.80, Target: 95.75
Nickel
Intraday outlook looks range bound for Nickel. Nickel prices are likely to hover below. Weakness in U.S., European stainless steel markets likely to cap nickel. Strength in base metals complex likely to support nickel prices in short term.
Intra Day Call: Short MCX Jan Nickel below 1068 with STP @ 1081, Target: 1047.
Lead
Intraday outlook looks down ward for Lead. Prices may weaken in short term due to substantial increase in LME inventories and China’s decision to keep lead export taxes unchanged.
Intra Day Call: Short MCX Jan Lead below 104.00 with STP @ 104.70, Target: 102.80
Copper
Intraday outlook looks up ward for copper on fresh buying from China in anticipation of sustained demand and fresh allocation of funds from Hedge funds. Chinas decision to remove 2 percent import duty on Copper cathodes is also supportive to the metal.
Intra Day Call: Long MCX Feb Copper above 269.30 with STP @ 267.50, Target: 272.50
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.