Commodity Outlook 11.10

8/3/2019 Commodity Outlook 11.10

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DAILY COMMODITY OUTLOOK 11th

Oct, 11

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MCX LEAD OCT Contrac t Technic al Out look & Trading Strat egy

The price of Lead has been consolidating between `100.50 to `94.50 levels over the past few

sessions of trade. The price was also facing stiff resistance at its 8-day moving average on

pullbacks. But, the smart move witnessed during the previous session of trade has helped the

price of lead to register a close above its key near term moving average. This is a sign that the

prices of lead are going to trade with a positive bias and thus test levels of`99.50 and / or

`101.25 levels.

Strong surge in volumes and a fresh buy signal given by the MACD indicator support the bullish

price action mentioned above.

We recommend traders to buy between `97.50--` 98.25 levels with a stop loss placed above

` 96.40 levels for upside targets of` 99.75 /`101.25 levels expected to be achieved over the

upcoming 3-4 sessions of trade.

MCX LEAD

OCT.CONTRAC

OPEN ` 96.10

HIGH ` 98.20

LOW ` 96.10

CLOSE ` 97.95


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COMMODITIES TO WATCH

NCDEX KAPASRNR Apr2012 CMP`732.80

Technical Out look & Trading Strat egy:-

After the sharp correction from the highs of 780.80 levels, the price of Kapas had been consolidating within a

narrow range of`739.50 to `719 levels. But, the price action of Kapas within this consolidation range has taken the shape of a bullish inverted head & shoulders price pattern. Traders would note that this is an extremely

bullish price pattern and is a sign that the price of Kapas will trade with a positive bias for the upcoming few

sessions of trade.

We recommend traders to take Long positions between `735--`730 levels with a stop loss placed below `717.40

levels for upside targets of`750 /`775 levels expected to be achieved over the upcoming 4-5 sessions of trade.

INVENTORY DATA

LME Warehouse Stocks (Inventory) and Volume10 Oct 2011

METALSInventory Volume

MT +/- MT +/-

Aluminum 4,544,725 -4,000 7,121,425 643,850

Al Alloy 135,920 0 2,680 -71,800

NASAAC 151,320 -80 7,500 -57,140

Copper 462,525 -4,575 3,196,250 7,175

Lead 382,000 1,600 1,441,100 651,325

Nickel 93,366 -900 202,056 11,652

Tin 19,795 -495 13,035 -12,920

Zinc 806,475 -1,450 2,925,250 963,025

KEY SUPPORT RESISTANCE LEVELS

Commodity Support 1 Support 2 CLOSE-PRICE Resistance 1 Resistance - 2

NCDEX Chana 2950 2896 3004 3053 3102

NCDEX Pepper 36117 35603 36630 37032 37433

NCDEX Soya Oil 606 603 608.10 610 612

NCDEX Jeera 14323 14206 14439 14638 14836

NCDEX Guarseed 4440 4316 4564 4626 4688


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MCX Copper 362 357 367.05 370 373

MCX Nickel 933 909 956.70 970 983

MCX Lead 97 95 97.95 99 100

MCX Silver 52551 52074 53028 53520 54012

MCX Gold 26494 26324 26663 26766 26868

MCX Crude 4108 4029 4187 4233 4279

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Commodity Outlook 11.10