zinc intraday

Zinc could jump till 82.50
09 July 2008 11:56:37

Zinc yesterday we have seen that market has moved -2.59%. Market has opened at 79.25 & made a low of 76.35 versus the day high of 79.85. The total volume for the day was at 7795 lots and the open interest was at 6956.Now support for the zinc is seen at 75.75 and below could see a test of 74.3. Resistance is now likely to be seen at 79.25, a move above could see prices testing 81.3.

Trading Idea

• TRADING RANGE IS 74.30-81.30.
• BUY ZINC @ 76.50 SL 75.90 TGT 77.20-78.50. MCX
• SELL ZINC BELOW 79.00 SL 79.60 TGT 78.55-78.10-77.60. MCX
• A TRADE ABV 80.60 COULD JUMP TILL 82.50 ELSE WEAK

MCXARUN

nickel intraday

LME Nickle trading range is 884-925
09 July 2008 12:05:10

Yesterday the LME nickel stock was -12 against the previous of -48 Nickel has touched a low of Rs 896 a kg after opening at Rs .912, and last traded at Rs 901.For today market is looking for the support at 892.5, a break below could see a test of 884 and where as resistance is now likely to be seen at 913, a move above could see prices testing 925.

Trading Ideas

• TRADING RANGE IS 884-925.
• SELL NICKLE @ 912-916 SL 923.60 TGT 905-900-892-884. MCX
• SELL NICKEL BELOW 900 SL 912.50 TGT 892-885-880-873.50. MCX

MCXARUN

copper intraday

LME Copper trading range 340.80-374.70
09 July 2008 11:53:53

Yesterday the LME copper was 100mt against the previous of -500mt. Copper has touched a low of Rs 351.55 a kg after opening at Rs 367, and last traded at Rs353.05.For today market is looking for the support at 346.9, a break below could see a test of 340.75 and where as resistance is now likely to be seen at 363.85, a move above could see prices testing 374.65.

Trading Ideas

• TRADING RANGE IS 340.80-374.70.
• BUY COPPER @ 351-353 Sl 349.60 TGT 354.60-356.20-358. MCX
• SELL COPPER @ 358-360 SL 362.50 TGT 356.20-353.70-350.50. MCX
• ONCE MKT IS ABV 354 LVL THAN CAN SHOW 358 LVL.
• IMP SUPPORT IS 132$ MCX. 5820-5680 SUP

MCXARUN

safe trade calls

GOLD


for the day sell only below 12760-750 S/L 12785 and T/p 12700/upto 12600 OR sell ard 13085-95 S/L 13100 and T/p 13025-13000/upto 12925 (any time close above 13100/13330/13510 bullish while close below 12750/12150/11920/ 11775/11375/11200 bearish for medium term)


SILVER



for the day sell below 24975 S/L 25050 and T/p 24880/775-725/24600 OR buy only abv 25425 S/L 25350 and T/p 25525-600/towards 25775-825/uprally(any time close below 24340/23525/ 23075/21825 bearish rally while close above 26150/26900/28000 bullish for medium term)


CRUDE


Crude oil inventory schedule to release today. for the day sell below 5840 S/L 5865 and T/p 5400-5770/ towards 5710/ 5635 OR sell ard 6062-70 S/L 6075 and T/p 6015-5975 upto 5930, only abv 6180/6220 & 6300 uprally again (now crude need to close above 6220/6300 for bullish rally while close below 5845/5635/5440/5215/5100/ 4415/3890 bearish for medium term)


COPPER



we book profit on sell below 366.5/364, for the day sell below 351 S/L 352.7 and T/p 349-347/towards 343 OR sell ard 361.8-362.5 S/L 363 and T/p 360-358/ upto 356 (upside strong rally only on close above 371/387.5/398 while close below 351.5/339/331.5-330.5/326/311 bearish for medium term)


MCXARUN

crude intraday

Crude inventory to be low
09 July 2008 11:52:03

Crude oil traded near a two-week low in New York after falling the most in three months yesterday as Iran downplayed the possibility of a war and the dollar rose, limiting the appeal of commodities. Now support for the crude is seen at 5775 and below could see a test of 5643. Resistance is now likely to be seen at 6108, a move above could see prices testing 6309.

Trading Ideas

• TRADING RANGE IS 5643-6309.
• SELL CRUDE BELOW 5892 SL ABV 5922 TGT 5868-5853-5835. MCX
• TODAY INVENTORY IS EXPECTED TO BE LOWER SO A JUMP TILL 6050-6100 IS GOOD TO HAVE SHORT LEVEL.
• OVERALL TGT 5680 ON MCX

MCXARUN

silver intraday

Silver weak till 24680-350
09 July 2008 11:50:21

Silver opened at 1754/1757 in New York. After a short rally, a recovering USD pulled the metal down to its low of 1747/1750. Silver bounced back quickly as the dollar reversed its direction and started to decline. Silver reached a high of 1790/1793 before closing at 1786/1789. Now support for the silver is seen at 24781 and below could see a test of 24413. Resistance is now likely to be seen at 25466, a move above could see prices testing 25783.

Trading Ideas:

• TRADING RANGE IS 24413-25783.
• SELL SILVER @ 25500-580 SL 25735 TGT 25365-270-122-25000. MCX
• BELOW 25000 MKT IS WEAK TILL 24680-350 LEVEL.

MCXARUN

gold intraday

Gold suppot at 903$
09 July 2008 11:49:17

Gold’s continued decline confirms our short term bearish trend reversal pattern as the metal breached (but did not close under) its 100-day moving average, a level that continues to provide short term support. The repeated testing of this level makes us a bit concerned about gold’s ability to hold its own in the short term. Should it break through the 917.30 mark with conviction, we may se a return to $880 in the near future. Now support for the gold MCX is seen at 12743 and below could see a test of 12612. Resistance is now likely to be seen at 13033, a move above could see prices testing 13192.

Trading Ideas:

TRADING RANGE IS 12612-13192.
SELL GOLD @ 12870-900 SL 12955 TGT 12830-786-745-710.
MCX IMP IS 912$ BELOW THT 903$ IS SUPPORT

MCXARUN