Trading Strategies for Gold and Silver (Intra day).
Gold seems to be bullish, Can initiate a buy position around 11050 levels with a stop loss around 11000 levels with a profit target of 11130, and next target 11160.
Silver seems to be bullish can initiate a buy position around 20250 levels with a stop loss around 20150 levels and the profit target 20400 , next target 20500.
Crude Oil
Crude oil rallied yesterday as inventories fell more than expected. Today, prices may remain in the range of 3750 to 3800. A break of support below 3750 may cause a downward rally towards 3720 levels.
Natural Gas
Natural gas prices may remain in the range of 318 to 323. Overall sentiment seems bullish as market expects inventories to fall. Actual inventory data would be released at 9pm today. Expected inventory data is a fall of 167 billion cubic feet.
Zinc
Intraday outlook appears up ward for zinc on fresh buying from China. Higher than expected increase in US factory orders seems supportive to the prices. Increasing inventories could dampen to the prices in long term.
Intra Day Call: Short MCX Jan Zinc below 98.40 with STP @ 99.10, Target: 97.00
Nickel
Intraday outlook looks up ward for Nickel. Nickel prices are likely to hover high. Changes in U.S., European stainless steel markets likely to push metal.
Intra Day Call: Long MCX Jan Nickel above 1155 with STP @ 1141, Target: 1180.
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 102.30 with STP @ 103.00, Target: 100.50
Copper
Intraday outlook looks down ward for copper as gains seen overdone. Fresh inventory arrived in china in huge quantity pulling prices downward. Keep an eye on LME inventories.
Intra Day Call: Short MCX Feb Copper below 284.80 with STP @ 286.50, Target: 281.60
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 Jan Aluminum below 97.00 with STP @ 97.70, Target: 95.60
Kapas April 2008
Can Sell Kapas at MCX around Rs. 478.0 - 479.0 for the likely target of Rs 475 - 76 with a Stop Loss at Rs. 481.