Nickel July MCX: Prices have broken support level of 871. On sustainable trade below the same might extend fall up to 861/855. Resistances are seen around 878/887 levels. Expecting prices to trade lower side and recommend intraday traders to sell on pull back….CMP 874

Free recommendation (HIGH RISK – POSITIONAL – Valid till Expiry) ;

Buy 1 Lot Zinc (JULMCX) and Sell 1 Lot Lead(JUL MCX) at current difference of 2.80 Targeting 1.8/0.0 with Stop loss at 5 CMP Zinc (JUL) 101.30 and Lead (JUL) 104.10 @ 23.07.12,12:59 PM

LME Inventory: @ 23.07.12,01:30 PM

  • Copper: -675,
  • Zinc: -3875,
  • Lead: -1975,
  • Nickel: -36,
  • Aluminum: +8075

Cancelled Warrants:

  • Copper: Up 1.01,
  • Zinc: Down 0.32
  • Lead:Down 0.05,
  • Nickel:Up 0.18

INVENTORY IMPACT: Metal inventories witnessed drawdown while the cancelled warrants have also improved for Copper and Nickel and may support prices. While other metals might remain weak and the trend may continue to remain bearish following resurfaced Euro-zone crisis

Copper Aug MCX Update :01:45 PM:  Prices have broken support levels of 417. Immediate support seen at 415 levels any sustainable trade blow the same might extend fall up to 410/406 levels on weekly basis. Intraday resistance are seen around 418.50/420 levels. Recommend to sell on pull back. 416.9

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *