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Daily
News Letter – 31st August – 2018
Commodity Market
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GOLD – SILVER -
Rally likely to be extrend.
Gold : Oct. 30170
As mentioned in this
column to avoid short sell at lower level and looks over sold and RSI trading
below their major support level and finally last week it was come back from a
low of 29423 and made a high of 2997 mark and finally closed above with good
volume and added open interest. Bullish trend continue with consider
support 29950-30000 as long as hold buy
on dip strategy. Higher level resistance at 30400-30500 watch out and profit
booking and also selling opportunity.
Some Technical Indicators :
R A N G E
|
High
|
Low
|
Close
|
5 DMA
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10 DMA
|
50 DMA
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100 DMA
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200 DMA
|
||
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Last
Week Range - MCX
|
29997
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29423
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29890
|
|
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30221
|
|
30186
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||
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52
Week Range - MCX
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31963
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29268
|
|
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---
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|||||
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52
Week Range COMEX
|
1365
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1161
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1212
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1195
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1189
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1229
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1270
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1291
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||
Silver :
Sept – 30681
Last week some support seen at lower level due to weakness in
dollar resulted all commodity flare up.
However, it has not participated as good as Gold did. Over all lower level good buying opportunity
and higher level resistance observed at 37100-37200 whereas a major supply
zone, once stay above these level on sustainable basis, looks major up side in
coming days. Break down 37200 so short term down side with consider support
36500.
Some Technical Indicators :
R A N G E
|
High
|
Low
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Close
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5 DMA
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10 DMA
|
50 DMA
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100 DMA
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200 DMA
|
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Last
Week Range - MCX
|
37172
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36534
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37005
|
|
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38955
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38943
|
|
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52
Week Range - MCX
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42304
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36423
|
|
|||||
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52
Week Range COMEX
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18.16
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14.395
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14.692
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14.67
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14.70
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15.440
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15.965
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16.324
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Crude Oil
– Sept -4999
Over all bullish trend
and we are long from the level of 4525
and our target open towards 5000 and above mark in coming days. Over all time for consolidation and any dip
to good opportunity to buy side. On the
positive front Crude are trading above 200 DMA in Comex which is placed at
70.84 and MCX 4310 so remain above do not think any short sell. From 4525 to 5000 our target have been achieved and book
profit. However, more steams left in
crude oil.
Some Technical Indicators:
R A N G E
|
High
|
Low
|
Close
|
5 DMA
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10 DMA
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50 DMA
|
100 DMA
|
200 DMA
|
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Last
Week Range - MCX
|
4857
|
4547
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4809
|
|
|
4739
|
|
4271
|
|
52
Week Range - MCX
|
4947
|
4097
|
|
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||||
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52
Week Range COMEX
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80.50
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50.60
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75.63
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74
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72.91
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74.45
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74.96
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70.84
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Copper
---Sept -432
Last week after made a low 406 some pull back seen, but looks
that this will not sustainable and again at higher level selling pressure will
be emerged result it will move down towards 390 likely in coming days. At higher level multiple resistance ahead which
is placed at 420-425-430 range and its not easy task to cross these level in
coming days. On the other hand in LME it
is trading below 50 DMA which is placed at 2.802 $ as long as remain below, bearish view
continue. .
Bullish trend and sept price are trading above
8 to 10 points of August. We may
consider support 425 + and resistance 435.
Some Technical Indicators:
R A N G E
|
High
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Low
|
Close
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5 DMA
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10 DMA
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50 DMA
|
100 DMA
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200 DMA
|
|
Last
Week Range - MCX
|
418
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406
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416
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|
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437
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|
448
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52
Week Range - MCX
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499
|
402.55
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|
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||||
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52
Week Range COMEX
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3.297
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2.562
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2.691
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2.673
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2.656
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2.802
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2.955
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3.043
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Nickel
–Sept.944
Overall trading range for the last few weeks 900 to 970 and
unable to cross these level so till moving this range buy at support level and
sell at resistance level. Once crossover
970 and stay above with volume and good open interest, up side open towards
1000-1020-1050 mark in short term, on the lower front decent support 880-900
range where 50-200 DNA are placed and avoid any short sell these level.
Lower level some
support seen and bounce back from a level of 920 and decline to buy side with
small stop loss 890 below, upper side
stay above 970 to more added long for another 50 points sharp in screen.
Some Technical Indicators:
R A N G E
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High
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Low
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Close
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5 DMA
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10 DMA
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50 DMA
|
100 DMA
|
200 DMA
|
|
Last
Week Range - MCX
|
960
|
921
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934
|
|
|
971
|
|
890
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52
Week Range - MCX
|
1066
|
900
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--
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|
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|||
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52
Week Range COMEX
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16687
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10212
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13430
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13483
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13414
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13975
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14248
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13485
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Natural
Gas –Sept. 205
As we are bullish
above 195 and more long added 200 and last week it was made a high
209.40 and finally
closed at 204 due to profit booking.
Over all trend is positive side because it is trading above 50-100-200
DMA above in Comex. Reversal from 200 level….. as
long as hold to buy side.
Some Technical Indicators:
R A N G E
|
High
|
Low
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Close
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5 DMA
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10 DMA
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50 DMA
|
100 DMA
|
200 DMA
|
|
Last
Week Range - MCX
|
209.40
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200.60
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204.30
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|
|
197
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188.40
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52
Week Range - MCX
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209.40
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185.70
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|||||
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52
Week Range COMEX
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3.661
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2.53
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2.912
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2.951
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2.944
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2.867
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2.846
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2.842
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Aluminum –Sept.
151.20
After taking a support from lower level, bounce back seen and
trading above weekly pvt point so short term up side, but higher level
resistance zone continue 145 to 147 range .Above 145 bullish view.
Higher level 152-153 are major
resistance zone and reversal to best opportunity to short side. Yesterday it
was made a high 153.65 and reversal seen
Some Technical Indicators :
R A N G E
|
High
|
Low
|
Close
|
5 DMA
|
10 DMA
|
50 DMA
|
100 DMA
|
200 DMA
|
|
Last
Week Range - MCX
|
146.10
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142.30
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144.80
|
|
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144.95
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|
143
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52
Week Range - MCX
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175.25
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136.50
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|||||
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52
Week Range COMEX
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2715
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1978
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2093
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2072
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2060
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2086
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2187
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2161
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ZINC
- Sept.
176.20
After made a low 166.50 last week strong come back and
finally it was made a high 179 mark which is quite remarkable of this
commodity. But upper side major
resistance and supply zone which is placed at 180 to 185 range and as long as
remain below, avoid any buying side.
Selling pressure
continue at higher level 180-182 range and bullish move only above that level,
down side short term support 175, if break these level more sell off. So watch out this range 175 to 182 . Higher level to sell side.
Some Technical Indicators :
R A N G E
|
High
|
Low
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Close
|
5 DMA
|
10 DMA
|
50 DMA
|
100 DMA
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200 DMA
|
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Last
Week Range - MCX
|
179
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166.50
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177.60
|
|
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188.65
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206.90
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52
Week Range - MCX
|
198
|
164.60
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|||||
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52
Week Range COMEX
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3595
|
2286
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2536
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2637
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2425
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2636
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2886
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3102
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LEAD – Sept.
147
Over all trading range
and multiple resistance ahead at higher
level which is placed 149 to 152 range and remain below higher level good
opportunity to short side.
Some Technical Indicators:
R A N G E
|
High
|
Low
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Close
|
5 DMA
|
10 DMA
|
50 DMA
|
100 DMA
|
200 DMA
|
|
Last
Week Range - MCX
|
146.10
|
139.50
|
144.80
|
|
|
154.70
|
|
159.20
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52
Week Range - MCX
|
170
|
137.25
|
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|||||
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52
Week Range COMEX
|
2685
|
1921
|
2079
|
2030
|
2028
|
2206
|
2297
|
2400
|
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Research Head :
|
Marketing Head
|
|
Rakesh Sethi
+91-9630466296
Rakesh01962@gmail.com.
|
Mr. Kushwaha
0731-4991684-9009932996
|
|
HNI DESK :
Miss Priyanka
Cell No. 9630466296
|
HELP/QUERY DESK
Mr. Vinay
Cell No. 9301302732
|
3M Team Research
325 Millindia Manner, RNT
Marg,
INDORE MP 452 006
9630466296-
Happy Trading Hrs.
