MARKET OUTLOOK OF COMMODITY TODAY

YESTERDAY SELL SILVER FEB CONTRACT ALMOST HIT FINAL TGT 33620 MADE LOW OF 33537!!!!!!!!!!!!!!!!!

“BUY CRUDE ABOVE 2460 TGT 2499/2540”

Jan. Crude Oil prices closed down with a cut of 3% yesterday. A break below 2426 levels will see prices correct towards 2386/2370 zones. Failure to trade below 2426 will trigger a pullback rally towards 2498/2515 areas.

Natural Gas (Rs./Mmbtu): Jan. Natural Gas prices are trading with a gain of 4% currently. If the momentum persists then prices will rally into its resistance zones starting from 155 to 162. Sharp correction can be seen from between these areas. Failure to sustain at higher levels will see prices correct towards 146.80/144 levels.

Lead: Lead prices are trading above its immediate resistance at 116.65 levels. Prices can rally into next resistance zones between 118.20—119. Intraday view for the counter will stay positive until prices hold on above 115.90 levels. Sustenance below this support will push the counter lower towards 114.60 levels.

Nickel: Nickel will trade weak until prices stay below 577. Intraday rallies towards 570—575 zones will face selling. Failure to sustain between these zones will see prices re-test 558.60 levels. Weakness below this level will push prices lower towards 550.90 levels. A daily close above 577 will be the first sign of a reversal in the counter.

Aluminium: Aluminium have managed to recover from its session lows at 99.60. The counter can move higher if prices sustain above 102.10 levels. A re-test of 103.10—103.25 zones is likely in that case. Areas around 99.40 are strong support zones for the counter. Any major downside is likely only on a daily close below 99.40.