Daily Trading Bites Commodities Report - Sep 11, 2015 : Way2Wealth-Shanghai Metals Market

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Daily Trading Bites Commodities Report - Sep 11, 2015 : Way2Wealth

Industry News 04:31:35PM Sep 11, 2015 Source:SMM

By   11 Sep 2015  Last updated at  03:31:26 GMT

Daily trading Bites | Commodities |

MCX Dec Silver

 MCX Dec Silver futures rose to as high as 35840 in the past session, but failed to hold the gains and fell back into negative zone. Now, 35310 levels will act as an immediate support on downside and on a sustainable break below the same will intact further weakness towards 34650 & 34120 levels.

ActionEntryTargetStop
SELLBelow 35310 34650/34120 35855

 

MCX Sep Nickel:

 MCX Sep Nickel; “bullish engulfing” candlestick pattern on daily charts renders that the recovery from 624 levels is still in progress and further gains can be possible towards 38.2% Fibonacci level of 711 & 725 levels. However, any dip can accumulate fresh longs at 686 levels

ActionEntryTargetStop
BUY 686 711/725 673

 

Outlook & Intraday Strategy

CommodityExpiryS1S2Last Trade R1R2IntradayRecommendation
Gold05'Oct2605525930261632629026410SidewaysWait for call
Silver05'Dec3465034120353833585536347BearishSell below 35310 TGT S2 SL 35855
Copper30'Nov360.70357.00364.80368.00371.00SidewaysWait for call
Nickel30'Sep686673693.10711.0725.00BullishBuy at S1 TGT R1 SL 673
Zinc30'Sep119.80118.65120.60121.75122.85BearishSell at Cmp TGT S1 SL 121.75
Lead30'Sep114.15113.30114.90116.00117.30BullishBuy at S1 TGT R1 SL 113.30
Aluminum30'Sep107.40106.30108.50106.00107.15BearishSell at R1 TGT S1 SL 107.15
Crude Oil21'Sep29972962304130653098BullishBuy at S1 TGT R1 SL 2962
Natural Gas 25'Sep176173.0179.3182.3185.00SidewaysWait for call

Courtesy :Way2Wealth

WAY2WEALTH Brokers Private Ltd., CIN U67120KA2000PTC027628 - Email: research@way2wealth.com website: www.way2wealth.com No. 14, Frontline Granduer, Walton Road, Bangalore-560001 Way2wealth Research is also available on Bloomberg WTWL


Daily Trading Bites Commodities Report - Sep 11, 2015 : Way2Wealth

Industry News 04:31:35PM Sep 11, 2015 Source:SMM

By   11 Sep 2015  Last updated at  03:31:26 GMT

Daily trading Bites | Commodities |

MCX Dec Silver

 MCX Dec Silver futures rose to as high as 35840 in the past session, but failed to hold the gains and fell back into negative zone. Now, 35310 levels will act as an immediate support on downside and on a sustainable break below the same will intact further weakness towards 34650 & 34120 levels.

ActionEntryTargetStop
SELLBelow 35310 34650/34120 35855

 

MCX Sep Nickel:

 MCX Sep Nickel; “bullish engulfing” candlestick pattern on daily charts renders that the recovery from 624 levels is still in progress and further gains can be possible towards 38.2% Fibonacci level of 711 & 725 levels. However, any dip can accumulate fresh longs at 686 levels

ActionEntryTargetStop
BUY 686 711/725 673

 

Outlook & Intraday Strategy

CommodityExpiryS1S2Last Trade R1R2IntradayRecommendation
Gold05'Oct2605525930261632629026410SidewaysWait for call
Silver05'Dec3465034120353833585536347BearishSell below 35310 TGT S2 SL 35855
Copper30'Nov360.70357.00364.80368.00371.00SidewaysWait for call
Nickel30'Sep686673693.10711.0725.00BullishBuy at S1 TGT R1 SL 673
Zinc30'Sep119.80118.65120.60121.75122.85BearishSell at Cmp TGT S1 SL 121.75
Lead30'Sep114.15113.30114.90116.00117.30BullishBuy at S1 TGT R1 SL 113.30
Aluminum30'Sep107.40106.30108.50106.00107.15BearishSell at R1 TGT S1 SL 107.15
Crude Oil21'Sep29972962304130653098BullishBuy at S1 TGT R1 SL 2962
Natural Gas 25'Sep176173.0179.3182.3185.00SidewaysWait for call

Courtesy :Way2Wealth

WAY2WEALTH Brokers Private Ltd., CIN U67120KA2000PTC027628 - Email: research@way2wealth.com website: www.way2wealth.com No. 14, Frontline Granduer, Walton Road, Bangalore-560001 Way2wealth Research is also available on Bloomberg WTWL