Zinc Short, Weekly Report 16th Sep

Zinc:-

Zinc on MCX has witnessed a steep rise of more than 25% in the last month from Rs107 levels and made a new 6 years high of Rs136.90. Prices have taken resistance around Rs130 and corrected very sharply in the last 2 weeks. We are expecting prices to move down till Rs109 in the next few days.

We recommend selling Zinc on rise till Rs122 for the targets of Rs112 and Rs109. Positional stop loss should be placed above Rs127.

Silver Short, Lead Short, weekly view for 2nd sep

Commodity Market Weekly Technical Report 2^nd Sep 2013

Silver:-

Silver on MCX has risen almost 50% in the last 3 weeks from Rs40000 levels and went near Rs60000 levels. Prices have taken resistance near Rs60000 and corrected very sharply in the last few days. We are expecting prices to move down till Rs45000 in the next few days.

We recommend selling Silver on rise till Rs57000 for the targets of Rs47000 and Rs45000. Positional stop loss should be placed above Rs60000.

Lead:-

Lead on MCX has risen almost 30% in the last 5 weeks from Rs120 levels and made a new record high of Rs155.40. Prices have taken resistance around Rs155 and corrected very sharply in the last few days. We are expecting prices to move down till Rs130 in the next few days.

We recommend selling Lead on rise till Rs148 for the targets of Rs134 and Rs130. Positional stop loss should be placed above Rs156.

Nickel Weekly view: 19th Aug

Commodity Market Weekly Technical Report 19^th Aug 2013:-

Nickel:-

Nickel on MCX has been rising from Rs800 in last 3 weeks. Prices have given a breakout and closed above its 50 weeks simple moving average of Rs898 for the first time in last 5 months, which is a short term bullish signal. We are expecting prices to move up till Rs990 in next few days.

We recommend buying Nickel in dips till Rs900 for the targets of Rs970 and Rs990. Positional stop loss should be placed below Rs880.

Gold, Aluminium View for weekly report 12th August

Commodity Market Weekly Technical Report 12^th Aug 2013

Gold:-

Gold on MCX has been trading in the range of Rs27600-Rs28100 in the last week. Prices have taken strong support around Rs27600 and closed above 20 weeks simple moving average in the last 2 weeks, which is a short term bullish signal. We are expecting prices to move up again till Rs28900 in the next few days.

We recommend buying Gold in dips till Rs27700 for the targets of Rs28400 and Rs28900. Positional stop loss should be placed below Rs27500.

Aluminium:-

Aluminium on MCX has been trading in the range of Rs104-Rs110 in the last 2 months. Prices have taken strong support around Rs104 and closed above Rs111 in the last week, which is a short term bullish signal. We are expecting prices to move up till Rs117 in the next few days.

We recommend buying Aluminium in dips till Rs109 for the targets of Rs115 and Rs117. Positional stop loss should be placed below Rs104.

Weekly Report for 5th August 2013

Commodity Market Weekly Technical Report 5th Aug 2013:-

Nickel:-

Nickel on MCX has been trading in the range of Rs810-Rs850 in last 2 months. Prices have given a breakout of this range and closed above its 20 weeks simple moving average of Rs843.50 for the first time in 5 months, which is a short term bullish signal. We are expecting prices to move up till Rs900 in next few days.

We recommend buying Nickel in dips till Rs840 for the targets of Rs885 and Rs900. Positional stop loss should be placed below Rs810.

 MCX Nickel Weekly