Wednesday, January 23, 2008

Zinc
Intraday outlook looks downward for zinc due to bearish sentiments in global markets. Increasing inventories could dampen to the prices in long term.

Intra Day Call: Short MCX Jan Zinc below 89.40 with STP @ 90.20, Target: 88.00

Tin
Intraday outlook looks downward for Tin due to weakness in base metals complex. Uncertainty in Indonesia regarding the regulations governing Tin mines could be supportive to the prices.

Intra Day Call: Short MCX Jan Tin below 641 with STP @ 646 Target: 634.

Nickel

Intraday outlook looks downward for Nickel. Nickel prices are likely to hover below due to uncertainty regarding the growth of major economies which could have a direct impact on the demand of Nickel.

Intra Day Call: Short MCX Jan Nickel below 1085 with STP @ 1100 Target: 1060.

Lead

Intraday outlook looks downward for Lead due to bearish sentiments in global markets. Expected resumption of lead ore exports from Ivernia mines in coming months could be bearish for the metal in long term.

Intra Day Call: Short MCX Jan Lead below 101.95 with STP @ 102.70, Target: 100.50

Copper
Intraday outlook looks downward for copper due to bearish sentiments in global markets. Deteriorating conditions of the US economy could be dampening to the metal prices in long term.

Intra Day Call: Short MCX Feb Copper below 276.80 with STP @ 279.10, 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.

Intra Day call: Short MCX Jan Aluminum below 94.40 with STP @ 95.30, Target: 93.10

Refined Soy Oil

Feb : Sell Feb contract at around Rs. 580.8 for the profit target of Rs. 577.8, Stop loss 582.3

Kapas April 2008

Can Buy Kapas at MCX around Rs. 475 - 76 for the likely target of Rs 478 - 479 with a Stop Loss at Rs. 473.5.Kapaskhalli January
Buy around Rs. 370 - 371 for the target of Rs. 373 - 374, Stop Loss - Rs. 368.5
Kapaskhalli FebruaryBuy around Rs. 380 - 381 for the target of Rs. 383 - 384, Stop Loss - Rs. 378.5
Mar : Sell Mar contract at around Rs. 584.3 for the profit target of Rs. 581.3, Stop Loss - 585.7

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