By Paul Ploumis 10 Sep 2015 Last updated at 01:45:05 GMT
MCX Oct Gold; Finally some selling pressure has triggered in the counter by violating its trend-line support at 26410 levels. This signifies that the fall from 27017 is still in progress and is likely to extend the decline towards 25945 & 25820 levels.
Daily trading Bites | Commodities |
MCX Oct Gold:
MCX Oct Gold; Finally some selling pressure has triggered in the counter by violating its trend-line support at 26410 levels. This signifies that the fall from 27017 is still in progress and is likely to extend the decline towards 25945 & 25820 levels. However, any rise can be utilized to create shorts at 26150 levels.
|SELL||26150 ||25945/25820 ||26277|
MCX Sep Zinc:
MCX Sep Zinc was traded higher in the first half, but failed hold the gains and reversed the uptrend by forming a “hanging man” candlestick pattern on daily charts. This renders for a temporary profit booking in the counter towards 119.80 & 118.65 levels. Hence, upside resistance pegged at 121.75 levels.
|SELL||around 121.70 ||119.80 ||122.85|
Outlook & Intraday Strategy
|Commodity||Expiry||S1||S2||Last Trade ||R1||R2||Intraday||Recommendation|
|Gold||05'Oct||25945||25820||26057||26155||26277||Bearish||Sell at R1 TGT S1 SL 26277|
|Silver||05'Dec||34830||34370||35294||35500||36010||Bearish||Sell at R1 TGT S1 SL 36010|
|Copper||30'Nov||359.00||356.00||363.30||367.15||370.00||Bearish||Sell at Cmp TGT S1 SL 367.15|
|Nickel||30'Sep||660||649||668.00||683.0||695.00||Sideways||Wait for call|
|Zinc||30'Sep||119.80||118.65||121.00||121.75||122.85||Bearish||Sell at R1 TGT S1 SL 122.85|
|Lead||30'Sep||113.40||112.30||114.15||115.55||116.70||Bullish||Buy at S1 TGT R1 SL 112.30|
|Aluminum||30'Sep||106.80||105.65||108.05||109.00||110.10||Bearish||Sell at R1 TGT S1 SL 110.10|
|Crude Oil||21'Sep||2935||2887||2989||3033||3071||Bearish||Sell at R1 TGT S1 SL 3071|
|Natural Gas ||25'Sep||174||171.3||176.9||178.6||181.70||Bearish||Sell at R1 TGT S1 SL 181.70|