MARKET OUTLOOK OF BASE METALS 08 JAN 2016

“SELL ZNIC BELOW 100.20 TG 99.20,98 SL 101”

“BUY COPPER FEB CONTRACT 301 TG 305,308 SL 298”

 China's stock markets were suspended for the day less than half an hour after opening as a new circuit-breaking mechanism was tripped for a second time this week. Shanghai stocks slid 7.3 percent to trigger the halt, a repeat of Monday's losses. Data published this week showed China's manufacturing sector shrank for the 10th month running in December, while activity in services fell to a 17-month low. China's central bank allowed the Yuan to fall to its lowest level against the dollar since March 2011, a move analysts said was an acknowledgement of weak growth.

The above is hourly chart of Copper. It suggests that prices are taking support somewhere near 296-299 zones. It is expected to give pullback before further fresh down move. On upside, resistance is located around 305.90 levels.

COPPER:

The above is hourly chart of Copper. It suggest that prices are taking support somewhere near 296-299 zone. It is expected to give pullback before further fresh down move. On upside, resistance is located around 305.90 levels.

ZINC:

The above is hourly chart of Zinc which suggests that prices are recovering on the upside after losing more than 3.5 percent in the previous session. On downside, immediate support is located at 99.30 levels.

NICKEL:

MARKET OUTLOOK OF NATURAL GAS JAN 2016

Natural Gas (Rs./Mmbtu): Momentum above 156.50 will see Natural gas prices bounce higher towards 157.90/160 levels. The counter may not sustain at higher levels between 160—162 zones. Corrective moves from higher levels will see prices correct towards 149.80/146 zones. The counter needs to sustain above 162 for the rally to advance higher towards 167 areas. 

Copper: Copper moved lower once prices broke below its support at 307.50 levels. Sustenance above 304 will trigger an intraday bounce towards 306.50/307 levels. Prices can test its support around 300/299.50 levels. A daily close below 299.50 will push prices lower towards 293.50 levels.

MARKET OUTLOOK OF SILVER 2016

Outlook

Buy @ cmp (33695) & accumulate more on dips towards 33200 for upside target of 35000 / 36000; SL below 32800 (closing basis). It is has taken support of medium term trend line. It has formed positive reversal on RSI signaling a bounce from current levels. Silver rose 1.2 percent to $14.01 an ounce, having ended 2015 down 11.7 percent. We expect silver prices to trade sideways as US interest rate outlook is likely to keep prices under pressure and short covering after slump in prices likely to support prices.

Technical Outlook Silver Strategy

Silver mar Strategy Sideways

S2 S1 : 33100/33300

Close  : 33666

R1 R2 : 34100 /34400

DAILY CHART:

MARKET OUTLOOK OF NCDEX JAN 2015

Soya Bean: Jan. Soya bean prices have found support between 3656—3636 zones. A pullback rally will commence once prices break above 3755. Counter will rally towards 3829/3869 levels in that case. A daily close below 3630 will push prices lower towards 3537/3480 levels. Ref. 

Soya Oil: The outlook for Ref. Soya Oil prices will remain negative until prices stay below 626 levels. Weakness below 612 will push the counter lower towards 610.60/607 levels. A weekly close below 607 will open downside targets of 598.50/592.30 levels in the counter. Momentum above 626 will see prices rally towards 634 levels.

Chana: Jan. Chana prices managed to bounce from its support areas around 4700 levels.

MARKET OUTLOOK OF COMMODITY 04 JAN 2015

FOR TWO DAYS FREE TRIAL CALLS OF COMMODITY PLEASE FILL UP THE FORM GIVEN HERE >>>>>>>>>>>>>>>>>

Gold: Momentum from current levels will push Gold prices higher towards 25415 areas. A daily close above 25415 will open upside targets of 25535/25640 levels for Gold. Intraday view for the counter will turn negative only if prices start to trade below 25090 levels. Sustenance below this level will push prices lower towards 24930/24880 levels again.

Silver: Silver is trading up with a gain of close to 1% currently. Prices should test its immediate resistance around 33800—33850 levels. Failure to sustain between these areas will trigger a correction towards 33450/33350 zones. A daily close above 33850 will open upside targets of 34088/34300 levels for the counter.

WEEKLY OVERLOOK OF MCX MARKET

crude oil  ALLMOST 1TG HIT @2540!!!

      BUY ZINC ABOVE 107 TG 109,111 SL 105

International   markets are currently trading on a good position as  US MARKET AND EUROPE MARKET is seen in red whereas ASIAN MARKET is to be watched in green except STRAIT TIMES,KOSPI,SHANGHAI COMPOSITE. on other hand  the Multi Commodity Exchange ( MCX);  bullion’s base metal and energy have gained although  CRUDEOIL (energy) is only the one which is to be watched in red signals.

Gold prices down by 0.99 per cent on Friday. As investors continued  for the FOMC meting, unemployment rate, NG&CRUDE INVENTORIES

Gold futures for February 2016 contract, at MCX, were trading at Rs. 25060  per 10 grams, down by 1.00per cent after opening at Rs. 25,123 against the previous closing price of Rs. 25067 . It touched the weekly low of Rs. 24855 on Thursday market after natural gas inventories released..

Copper futures for febuary2016 contract, at MCX, made weekly high with rate of 318.85. And touched the low of 307.50 on Tuesday’s market and given a return on rallies.

Else above from these, energy sector  had given much high return among all the three segments (bullion, base metal energy) on both crude oil as well as natural gas . NATURAL GAS had increased  from 134 to 157 cover of  24points return in a week for buyers. whereas crude oil  has given return on rallies from 2497 to 2480.

Upcoming week of market session will remain in buying   session also there are so many results to announce in a new year with inventories

Gold resistance 25299,25450,25700 support 24850,24700,245500

Copper resistance 319,324,328 support 312,308,305

Lead resistance 121,124,127 support 115,114.50,112

MARKET OUTLOOK OF COMMODITY 02 JAN 2015

CALL GIVEN ON 30 DEC 2015

YESTERDAY SELL GOLD FEB CONTRACT HIT FINAL TGT 24920 MADE LOW OF 24850!!!!!!!!!!!!!!!!!

BULLION

The above is hourly chart of Gold. It suggests that prices are trading in sideways to down trend. It is expected to fall below trend channel support line and correct down till 24850 levels. On upside, immediate resistance is located at 25060 levels.

02 Jan 2016 Trading Call: Sell around 24970 levels with a stop loss placed above 25060 levels for target of 24850 levels.

ENERGY

The above is hourly chart of Crude Oil. It suggest that prices are likely to find support near 2430 levels in today's session. Further support is located at 2385 levels. On upside, resistance is located at 2500 levels.

02 Jan 2016 Trading Call: Buy around 2430 levels with a stop loss placed below 2385 levels for targets of 2500 levels.

METALS