Update @ 1:30 PM

LME Inventory:

  • Copper   UP      1225
  • Zinc    DOWN    -1900
  • Lead    DOWN    -525
  • Nickel  DOWN    -54
  • Aluminum        UP      5575

Cancelled warrant ratio :

  •  Copper  UP       0.03
  • Zinc    UP       11.28
  • Lead    DOWN     (0.13)
  • Nickel  DOWN     (0.20)

IMPACT: Metal inventories witnessed slight drawdown except Copper and Aluminum while the cancelled warrants have remained weak. Zinc warrants have witnessed record increase and may support gains while other base metals may follow the developments of the European summit and economic releases

Free Positional Strategy Call: Sell Aluminium Jul @ Cmp:106.9 & Buy Zinc Jul @Cmp::102.10, Current Difference: +4.8, Target: +2.5, SL:+ 8 -www.Commodity20.com @ 28.06.12,1:31 PM

Update @ 05:00 PM
As foreseen in our morning report base metal futures are trading up by 0.1 to 1.3 percent except Copper.

The Asian equities performed mixed while the European equities are trading down ahead of  the key European summit. The German unemployment increased while the Euro-zone confidence numbers dwindled supporting fall of the shared currency.

In the evening, session anticipation over Euro-summit may provide increased volatility among base metals. From the economic data front, the US labor releases might continue to remain at a blend while GDP and personal consumption may decline further weakening base metals. Overall, we expect metals pack to remain strong on the back of European summit coupled with unchanged economic expectation. Fundamentally, cancelled warrants of Zinc have increased drastically and might continue to support gains for the rest of the session.

Free Positional Strategy Call Update 1 :

Aluminium Jul Sold @ 106.9,Cmp:106.10  & Zinc Jul Bought @ 102.10,Cmp: 102.6  Current Difference: +3.5, One Can Book Profit of Rs. 6500+ per lot, High Risk Trader Can Still Hold positions for Target – www.Commodity20.com@28.06.12,5:38 PM

Base Metals Update @ 08:00 PM : Metal prices are witnessing a smart pull back in the evening session. Form the technical end expecting to continue fall.

  • Recommend to watch crucial support levels zinc support is seen around 101/100
  • Lead 99.30/98.20 Aluminium 102.80/101.40
  • Nickel price are witnessing major support around 920 levels beak below the same might extend further target up to 908/901 levels resistance
  • Copper: From the technical end still holding bearish view and recommend to utilize pull back to take new short positions Aug 427-430 TP 415/407 SL 442 For short term…..CMP 423

Free Positional Strategy Call Update 2 :

Aluminium Jul Sold @ 106.9, Cmp:105.05  &  

Zinc Jul Bought @ 102.10,Cmp: 102.65

 Current Difference:+2.4, Target Achieved,

EveryOne Book Profit of Rs. 12000+ per lot

-www.Commodity20.com@28.06.12,9:03 PM

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