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.
| Action | Entry | Target | Stop |
| 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.
| Action | Entry | Target | Stop |
| 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 |
Courtesy :Way2Wealth
