safe trade calls

GOLD

THIS WAS OUR WORDS YESTERDAY "price test 12200 upto 12130" ACHIEVED EXACTLY AS DAYS LOW=12125 book profit on sell below 12460/12390, for the day sell below 12075 S/L 12100 and T/p 12040-10/ 11970/sustain below seen new down rally OR sell ard 12388-395 S/L 12400 and T/p 12340-300 (any time close above 12680/12950/13550/13850 bullish while close below 12125/11970/11275 bearish for medium term)


SILVER

book profit on sell below 23800, for the day sell below 23225 S/L 23300 and T/p 23150/23050/22970/sustain below seen new down rally OR sell ard 23850-875 S/L 23900 and T/p 23790-700 (any time close below 23075-22970/21825 bearish rally while close above 25000/26100/ 27250/28000 bullish for medium term)


CRUDE

EIA Crude oil inventory schedule to release today PRICE TURN EXACT FROM OUR GIVEN SUPPORT=5000 AS DAYS LOW=5005 book profit on sell below 5240, for the day sell below 5090 S/L 5115 and T/p 5060-5000/ sustain close below 5060 invite for 4750 -4650 in coming days OR sell ard 5250-55 S/L 5260 and T/p 5200-5170 (now crude need to close above 5450/5680/ 6040/6360 for bullish rally while close below 5000 bearish for medium term)


COPPER


THIS WAS OUR WORDS LAST "close below test 320 atleast/305 in coming days" 1st TARGET ACHIEVED AS LOW=317.6 book profit on sell below 334/322, for the day sell below 317.5 S/L 319 and T/p 315/towards 312 OR sell ard 326.5-327 S/L 327.5 and T/p 324.5-323 (upside strong rally only on close above 351/360.5/371/387.5/398 while close below 311 bearish for medium term)


MCXARUN
9994500540

long view calls

SPOT GOLD INTERNATIONAL
LIKELY TO TEST $ 885/877 WITH ANY BREAK & CLOSE BELOW $ 893 AND CLOSE BELOW $ 873/$ 856 & $ 845 TEST $ 830 - 815 UPTO $ 790... ONLY CLOSE ABOVE $ 935/976 & $ 988 BULLISH RALLY AGAIN


SPOT SILVER INTERNATIONAL
LIKELY TO TEST $ 16.45/16.25 WITH ANY BREAK & CLOSE BELOW $ 16.80 AND CLOSE BELOW $ 16.20 & 15.95 TEST $ 15.50 - 15.25 ATLEAST UPTO $ 14.80... ONLY CLOSE ABOVE $ 17.95 / 18.70 & 19.5 BULLISH RALLY AGAIN


MCXARUN
9994500540

crude intraday

Crude oil fell for a third day in New York, trading near $118 a barrel as demand may be further eroded by economic slowdowns in the U.S., Europe and China. Now support for the crude is seen at 5001 and below could see a test of 4944. Resistance is now likely to be seen at 5118, a move above could see prices testing 5178.

Trading Ideas

TRADING RANGE IS 4944-5178.
CRUDE BELOW 120$ BEARISH TILL 116.70-112.40$.
CRUDE INVENTORY EXP: 0.1M VS -0.1M
SELL CRUDE ON JUMP @ 5120-5150 SL 5198 TGT 5062-5022-4980-4930-4860. MCX
SELL CRUDE BELOW 4960 SL 4990 TGT 4911-4848-4800-4760. MCX

MCXARUN
9994500540

zinc intraday

Zinc yesterday we have seen that market has moved -1.51%. Market has opened at 75.75 & made a low of 74.25 versus the day high of 76.45. The total volume for the day was at 11842 lots and the open interest was at 10808.Now support for the zinc is seen at 73.95 and below could see a test of 73. Resistance is now likely to be seen at 76.15, a move above could see prices testing 77.4.

Trading Idea

TRADING RANGE IS 73.00-81.00.
SELL ZINC @ 76-77 SL 77.80 TGT 75.20-74.30-72.60.MCX
SELLING PRESSURE STILL MOUNTING IN THE AREA OF 75-76 TARGETING 72-71 LEVEL

MCXARUN
9994500540

nickel intraday

Nickel declined to a two-year low of $17,450 a metric ton and zinc to $1,730 a ton, the weakest since December 2005, as data showed inventories jumped as demand from industry slows. Yesterday the LME nickel stock was 222 against the previous of 264 Nickel has touched a low of Rs 742.6 a kg after opening at Rs .773.1, and last traded at Rs 746.9.For today market is looking for the support at 734.30, a break below could see a test of 721.70 and where as resistance is now likely to be seen at 767.70, a move above could see prices testing 788.50.

Trading Ideas

TRADING RANGE IS 720-780.
HOLD / SELL NICKEL AUG @ 760-765 SL 776 TGT 756-752-745-738-720. MCX
OVERLL NICKLE IS WEAK AND BERISH AND WE LOOK SUPPORT AT 700-680 LEVEL.


MCXARUN
9994500540

copper intraday

Yesterday the LME copper was 2550mt against the previous of 1550mt. Copper has touched a low of Rs 317.55 a kg after opening at Rs 322.55, and last traded at Rs320.05.For today market is looking for the support at 317.20, a break below could see a test of 314.40 and where as resistance is now likely to be seen at 323.20, a move above could see prices testing 326.30.

Trading Ideas

TRADING RANGE IS 314.40-326.30.
SELL COPPER @ 324-325 SL 328.20 TGT 322.50-319.60-317.40. MCX
A JUMP CAN BE SEEN TODAY AFTER YESTERDAY FALL IS GOOD TO SELL


MCXARUN
9994500540

silver intraday

Silver has finally taken out 16.85, the 200 day moving average. The unit extended toward 16.56, opening up a visit to April’s low of 16.01. Bearish price action for silver has it underperforming gold again. The gold silver ratio has moved back to 53.00. Precious metals risk deeper liquidation now that longer term moving averages have been broken. Now support for the silver is seen at 23171 and below could see a test of 22950. Resistance is now likely to be seen at 23757, a move above could see prices testing 24122.

Trading Ideas:

TRADING RANGE IS 22950-24122.
SILVER IS BELOW 16.56$ CAN FIND THE SUPPORT TILL 16.22-15.96$
SELL SILVER @ 23800-900 SL 24056 TGT 23635-23522-23380-23120.MCX
BELOW 23000 IS BEARISH AS 3 TIMES PREVIOUSLY MKT HAD JUMP FROM THIS LEVEL

MCXARUN
9994500540

mcx gold intraday

Gold tumbled down through the 200 day moving average yesterday at 888. The move extended to just shy of our June reactionary low near 875. The technical picture remains negative while gold holds below the down channel top at 908. Downside support is positioned at 857.50. Now support for the gold MCX is seen at 12066 and below could see a test of 11968. Resistance is now likely to be seen at 12320, a move above could see prices testing 12476.

Trading Ideas:

TRADING RANGE IS 11968-12476.
BUY GOLD @ 12150-165 SL 12090 TGT 12200-235-270-310. MCYESTERDAYS BTST)
SELL GOLD @ 12320-350 SL 12390 TGT 12270-12215-12160-12080. MCX
A BREAK OF 12100 IS BEARISH TILL 12000-11860. MCX
CRUDE IS STILL BELOW 120$ CREATING PRESSURE ON BULLION


MCXARUN
9994500540

nymex crude outlook

Oil prices fell yesterday and traded near to three month low and closed at $119.17 a barrel with oil operations in the Gulf of Mexico starting to return to normal as Tropical Storm Edouard moved inland after striking the Texas coast. Sign of increased OPEC output and the threat to demand from economic slowdown also affected the crude movement.

Light, sweet crude oil for September delivery in the New York Mercantile Exchange traded in the range $121.23 - $118, before settling at $118.58 a barrel.

In market influencing news, the President of OPEC Chakib Khelil called oil prices abnormal and said they could pull back to $80 a barrel over the long term if the dollar were to continue to recover and global political worries eased.

The President of Iran Mahmoud Ahmadinejad reportedly said that Iran has more than 5,000 active centrifuges for enriching uranium, keeping the focus on geopolitical concerns.


Oil price had retreated from record high levels in the previous two weeks, weighed down by concerns that slowing economic growth might dampen oil demand. Easing of storm threat also added to the pressure. Tropical Storm Dolly did not have a major impact on oil and natural gas operations in the Gulf of Mexico. Early this month, OPEC had downwardly revised the world oil-demand growth for 2008 and 2009.

OPEC in its latest monthly report had lowered its forecast for world oil-demand growth for 2008 to 1.03 million barrels a day, which represents a decline of 70,000 barrels from its previous estimate. Global oil demand this year is expected to average 86.81 million barrels a day.

Oil price had touched an all-time high of $147.27 a barrel on 11th July but has corrected from there in the succeeding weeks.

The Group of Eight leaders from Britain, Canada, France, Germany, Italy, Japan, Russia and the United States had warned that soaring oil and food prices pose a serious challenge to stable worldwide economic growth. They also called for diversifying sources of energy and further efforts to improve energy efficiency.

NYMEX Crude Oil September

Continuation of weakness expected below $119.80. Supports are $116.00, $110.00, $105.00. Otherwise expecting recovery; resistances $126.40, $132.00, $139.00.

DWTI (Aug) traded in the range $121.13 - $118.15 and closed at $119.17.

TECHNICAL OUTLOOK (Intra-day)

DGCX Crude (Aug) - Bullish above $119.40; bearish below $118.9

MCXARUN
9994500540

comex gold outlook

Gold ended lower yesterday as the fall in crude oil price and broad recovery in dollar. Crude futures ended lower on Tuesday, with oil operations in the Gulf of Mexico starting to return to normal as Tropical Storm Edouard moved inland after striking the Texas coast. Sign of increased OPEC output and the threat to demand from economic slowdown also affected the crude movement.

On Tuesday The Federal Reserve held U.S. interest rates steady at 2 percent, expressing concerns about both economic growth and inflation and indicating it is in no rush to push borrowing costs higher.

From Friday onwards gold has been under pressure as dollar strengthened on the back of better-than-expected U.S. nonfarm payrolls data and manufacturing data.

According to the data, U.S. employers eliminated 51,000 non-farm jobs in July against market expectations for a payrolls decline of 75,000. But U.S. unemployment rate changed to 5.7 percent from 5.5 percent, its highest level in four years.

International spot gold traded in the range $894.9- $872.8 a Troy Ounce and last quoted at $873.25 ($893.65).

But data’s from different sectors are giving a mixed trend in the US economy

Standard & Poor's Case-Shiller home price index revealed that home prices in 20 major US cities have fallen a record 15.8% in the past year, and fell 1% in May compared with April.

Meanwhile, the US Senate cleared a bill designed to prop up the struggling US housing market and rescue the struggling giant mortgage-buyers Fannie Mae and Freddie Mac. The bill includes billions of dollars in loan guarantees, a tax break for first-time homebuyers and many other provisions.

The Federal Reserve's Beige Book report of economic conditions last week showed price pressures were intensifying even as growth slowed over the past month.

Weekly Outlook (Spot Gold)

Expecting weakness below $899.30, Otherwise expecting recovery. Supports are $ 893, $884, $873.Resistances $911, $920.60, $936.60

Last day DGCX Gold Oct traded in the range $896.7– $878.1 and closed at $878.5

TECHNICAL OUTLOOK (Intra-day)

GOLD (Oct) - Bullish above $ 885.5; bearish below $ 885

MCXARUN
9994500540