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

safe trade calls

GOLD

as US market remain closed on Independence Day Holiday, so trading range seen between 13000 - 13275. for the day buy only abv 13250 & 13275 S/L 13220 and T/p 13300-330/ sustain abv 13330 towards 13500 in coming days OR sell only below 12950 S/L 12975 and T/p 12895-900/12835/ 12790 where strong support seen again (any time close above 13330/13510 bullish while close below 12750/12150/ 11920/11775/11375/11200 bearish for medium term)

SILVER

book profit on buy abv 24975/25925, trading range seen between 25300 - 26150, for the day buy only abv 26100 & 26150 S/L 26020 and T/p 26300-500/ towards 26800 in coming days OR buy ard 25330-40 S/L 25300 and T/p 25425-25550 (any time close below 24340/ 23525/23075/21825 bearish rally while close above 26150/26900/28000 bullish for medium term)

CRUDE

book profit on buy above 5945/6120/ 6150/6220, for the day buy only abv 6300 S/L 6280 and T/p 6330-50/upto 6380 OR buy ard 6060-62 S/L 6050 and T/p 6150-125/upto 6185, anytime sustain below 5990 sharp correction expected (now crude need to close above 6215 for bullish rally while close below 5990/5635/5440/5215/5100/ 4415/3890 bearish for medium term)


COPPER


PRICE TURN EXACT FROM OUR GIVEN SUPPORT LEVEL. for the day buy ard 368.5-369 S/L 368 and T/p 372-374.5 OR sell ard 384-384.5 S/L 385 and T/p 382-81/379 (upside strong rally only on close above 387.5/398 while close below 361/351.5/339/ 331.5-330.5/326/311 bearish for medium term)


MCXARUN
9994500540

zinc intraday

Zinc yesterday we have seen that market has moved -5.9%. Market has opened at 81.5 & made a low of 77.25 versus the day high of 82.35. The total volume for the day was at 10995 lots and the open interest was at 7299.Now support for the zinc is seen at 75.60 and below could see a test of 73.85. Resistance is now likely to be seen at 80.70, a move above could see prices testing 84.10.
Trading Idea
• TRADING RANGE IS 73.00-83.00.
• YESTERDAY ZINC FALL AS PER OUR EXPECTATION
• BUY ZINC ABV 78 SL 76.80 TGT 79.20-80-80.60. MCX
• A CLOSE ABV 80.60 WILL BRING AGAIN THE LEVEL TILL 85.50

MCXARUN
9994500540

nickel intraday

Yesterday the LME nickel stock was 198 against the previous of 168 Nickel has touched a low of Rs 905 a kg after opening at Rs .938, and last traded at Rs 913.For today market is looking for the support at 898, a break below could see a test of 883 and where as resistance is now likely to be seen at 935, a move above could see prices testing 956.
Trading Ideas
• TRADING RANGE IS 883-956.
• TRADING RANGE IS 883-956.
• AS TOLD YESTERDAY NICKEL BELOW 936 WILL TOUCH 908 SAME HAPPENED.
• FOR TODAY BUY NICKEL ABV 915 SL 908 TGT 921-926-932. MCX
• SELL NICKLE @ 945-950 LS 962.50 TGT 936-931.20-926.80-920. MCX

MCXARUN
9994500540

copper intraday

Yesterday the LME copper was 25mt against the previous of 125mt. Copper has touched a low of Rs 374.3 a kg after opening at Rs 382.9, and last traded at Rs375.35.For today market is looking for the support at 371.30, a break below could see a test of 367.20 and where as resistance is now likely to be seen at 382.10, a move above could see prices testing 389.60.
Trading Ideas
• TRADING RANGE IS 367.20-389.60
• COPPER IMP SUP IS AT 372.
• BUY COPPER @ 372-373.50 SL 370 TGT 375.50-378.80-380.20. MCX
• ONLY A BREAK OF 370 CAN BRING SELLING PRESSURE TILL 364.80. MCX

MCXARUN
9994500540