By Paul Ploumis 11 Sep 2015 Last updated at 03:31:26 GMT
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.
Action | Entry | Target | Stop |
SELL | Below 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
Action | Entry | Target | Stop |
BUY | 686 | 711/725 | 673 |
Outlook & Intraday Strategy | ||||||||
Commodity | Expiry | S1 | S2 | Last Trade | R1 | R2 | Intraday | Recommendation |
Gold | 05'Oct | 26055 | 25930 | 26163 | 26290 | 26410 | Sideways | Wait for call |
Silver | 05'Dec | 34650 | 34120 | 35383 | 35855 | 36347 | Bearish | Sell below 35310 TGT S2 SL 35855 |
Copper | 30'Nov | 360.70 | 357.00 | 364.80 | 368.00 | 371.00 | Sideways | Wait for call |
Nickel | 30'Sep | 686 | 673 | 693.10 | 711.0 | 725.00 | Bullish | Buy at S1 TGT R1 SL 673 |
Zinc | 30'Sep | 119.80 | 118.65 | 120.60 | 121.75 | 122.85 | Bearish | Sell at Cmp TGT S1 SL 121.75 |
Lead | 30'Sep | 114.15 | 113.30 | 114.90 | 116.00 | 117.30 | Bullish | Buy at S1 TGT R1 SL 113.30 |
Aluminum | 30'Sep | 107.40 | 106.30 | 108.50 | 106.00 | 107.15 | Bearish | Sell at R1 TGT S1 SL 107.15 |
Crude Oil | 21'Sep | 2997 | 2962 | 3041 | 3065 | 3098 | Bullish | Buy at S1 TGT R1 SL 2962 |
Natural Gas | 25'Sep | 176 | 173.0 | 179.3 | 182.3 | 185.00 | Sideways | Wait for call |
Courtesy :Way2Wealth
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