07.06.12 

LME  Warehouse Inventory Data :

  • Copper  DOWN    -1900
  • Zinc    UP      175
  • Lead    DOWN    -375
  • Nickel  DOWN    -1608
  • Aluminum        DOWN    -28750

Cancelled warrant ratio:

  • Copper  DOWN     (1.71)
  • Zinc    UP       0.36
  • Lead    DOWN     (0.52)
  • Nickel  DOWN     (1.20)

INVENTORY IMPACT:

Metal stocks witnessed drawdown however the cancelled warrants declined indicating weak spot demand. Overall it may continue to have negative impact on future prices

Our Morning Base Metals Call

07-06-12 10:24 Sell Copper@ Cmp:411.10 T1:408.10 T2:406.10 SL above:415.10 SecondSell : 414.10-www.Commodity20.com

The Only Commodity in Base Metal Stocks Looks Strong for Intraday is Aluminium, As Stock at LME warehouses witnessed Sharp Fall in Past Few Days

 

Our View:

Our Advise will be Negative Trend with All Base Metals Commodities apart from Aluminum,which may have Neutral/Positive Trend for the Day,Aluminium MCX Cmp:107.80

Copper Sell Call Targets ware Achived

07-06-12 02:14 Book Profit in Copper Oil,Target2 is About to Achieved,Cmp:406.45 Profit: 4600+ per lot – www.Commodity20.com

NEWS UPDATE: China has lowered its interest rate from 3.5 to 3.25 percent in order to boost local economy that was flattering due to weak global and European developments.

This will support gains in base metals as China consumes more than 40 percent of the same. 07/06/12, 04:50 PM

Our Aluminium Free Recommendation Of Buy Trend Given @ 107.80,Cmp: 108.50,One Can Book Profit of Rs.3500+ per Lot.

 

Note : The Immediate Uptrend Shown in Base Metals and other commodities are due to the Chaina Interest rate reduction news,We might see some correction in coming sessions., The Stratagy will remain the same,Sell on High,Book Small Profits.

We have Given Buy Recommendations in Copper:411,Zinc:104.10,Lead:106.20, We advised Free members not to create new selling positions in base metals @07.06.12 06:08 PM

Copper June MCX: Prices are almost hovering at resistance level of 414.50-15.00 levels. On break above the same it might lead prices to test weekly resistance level of 417.5 levels. Support are seen at 412/408.410,if anyone  is  holding intraday short positions recommend to hold the stop loss above 415…CMP 414.55 @07.06.12 06:44 PM

All Buy Calls ware Achieved, Copper High Made:414.85,Lead High Made:106.65,Zinc High Made:105.10 @07.06.12 07:58 PM

Update : Copper June MCX : Prices were seen trading volatile in todays session, moved in the range of 406.25-414.90 and currently at 411. A stiff resistance is seen at 415 levels, which is likely to limit the gains. Only a break above 415 may lead the prices to move higher till 420 levels. We see prices to resume its downtrend if it fails to breach the resistance at 415 levels. Supports are at 405

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 *