zinc intraday

Zinc yesterday we have seen that market has moved 0.33%. Market has opened at 74.7 & made a low of 74.1 versus the day high of 75.6. The total volume for the day was at 9975 lots and the open interest was at 11018.Now support for the zinc is seen at 74.3 and below could see a test of 73.45. Resistance is now likely to be seen at 75.8, a move above could see prices testing 76.45.

Trading Idea

TRADING RANGE IS 73.00-80.00.
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

Yesterday the LME nickel stock was -24 against the previous of 222 Nickel has touched a low of Rs 736.6 a kg after opening at Rs .748, and last traded at Rs 753.6.For today market is looking for the support at 739.40, a break below could see a test of 725.30 and where as resistance is now likely to be seen at 764.80, a move above could see prices testing 776.10.

Trading Ideas

TRADING RANGE IS 725.00-776.00.
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

Copper futures opened flat with a downside bias on Wednesday, pressurized by rising inventories and a soft demand outlook. Yesterday the LME copper was 1575mt against the previous of 2250mt. Copper has touched a low of Rs 318 a kg after opening at Rs 320.2, and last traded at Rs318.85.For today market is looking for the support at 316.50, a break below could see a test of 314.10 and where as resistance is now likely to be seen at 322.70, a move above could see prices testing 326.60.

Trading Ideas

TRADING RANGE IS 314.00-326.00
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

crude intraday

Crude oil futures traded near $119 a barrel in New York after falling yesterday as U.S. supplies unexpectedly gained amid slowing demand, and the dollar climbed, reducing the appeal of commodities as an inflation hedge. Now support for the crude is seen at 4920 and below could see a test of 4845. Resistance is now likely to be seen at 5075, a move above could see prices testing 5155.

Trading Ideas

TRADING RANGE IS 4845-5155.
CRUDE BELOW 120$ BERISH 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

silver intraday

Silver has paused its big down move yesterday. We remain near the recent low of 16.50. There is very little to suggest that this move is over, so the risk remains for a drop to 16.01, the May low. Silver's 200 day moving average at 16.85, then channel resistance at 17.38 should contain topside. The gold/silver ratio remains near its 200 day moving average of 53.08. Now support for the silver is seen at 23041 and below could see a test of 22860. Resistance is now likely to be seen at 23472, a move above could see prices testing 23722.

Trading Ideas:

TRADING RANGE IS 22860-23722.
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 BERISH AS 3TIMES PREVIOUSLY MKT HAD JUMP FROM THIS LEVEL.

MCXARUN
9994500540

mcx gold intraday

Gold is showing a fairly flat day at 877 after trying to bounce to the 200 day moving average at 888. The unit remains in a well defined bearish channel with the top coming in at 902. Risk remains for a drop to the June low of 858, followed by a massive 846 pivot. Now support for the gold MCX is seen at 12029 and below could see a test of 11943. Resistance is now likely to be seen at 12219, a move above could see prices testing 12327.

Trading Ideas:

TRADING RANGE IS 11943-12327.
BUY GOLD @ 12150-165 SL 12090 TGT 12200-235-270-310. MCX(YESTERDAYS BTST)
SELL GOLD @ 12320-350 SL 12390 TGT 12270-12215-12160-12080. MCX
A BREAK OF 12100 IS BEROSH TILL 12000-11860. MCX
CRUDE IS STILL BELOW 120$ CREATING PRESSURE ON BULLION


MCXARUN
9994500540