Friday, April 15, 2011

Commodity Tips Online


Silver: Silver’s rally extended to as high as $40.92/oz last week. Biasness remains on upside and further rise should be seen towards the medium term projected target of $42-43 levels.

Recommendations: Buy Silver above Rs60570 for a a target of Rs61270, with a stop loss of Rs60230

Crude oil: MCX Crude oil rose to as high as 5098 and met the target of 4921 levels. Initial bias remains upside this week and further rise should be seen towards the 161.8% projection of 5116 and beyond.

Recommendations: Buy at Rs4985 for a target of Rs5110, with a stop loss of Rs4910.

Copper: Commodity Apr Copper last week has seen a strong recovery through the bullish flag. Currently prices are trading above flag resistance levels, more over a strong close as a “Bullish Engulfing” on weekly charts is also one of the major supporting factor for the bullish view.

Recommendations: Buy at Rs438 for a target of Rs451, with a stop loss of Rs432.

Lead: Buy MCX Apr Lead at Rs129.30 for a target of Rs135.30, with a stop loss of Rs127.

Chana: Buy NCDEX Chana Apr contract above Rs2410 for a target of Rs2526, with a stop loss of Rs2367.

Buy Pepper: Buy NCDEX Pepper above Rs26480 for a target of Rs27360, with a stop loss of Rs25930.
Copper: Buy at Rs441 stop loss below Rs439 target- Rs445- Rs447 ranges. (In our positional call you have booked profit Rs26 in single call)

Zinc:
Buy around Rs112.5 stop loss below Rs110.80 target- Rs114.8- Rs115.5 ranges.
Lead: No trade

Nickel: Buy at Rs1225 stop below Rs1214 target- Rs1244- Rs1250 ranges.

BULLIONS

Gold:
Buy at Rs21400 stop at Rs21345 target- Rs21480- Rs21520 ranges.

Silver: No trade.

ENERGY

Crude Oil:
Buy in the ranges of Rs4980- Rs5000 stop loss below Rs4940 target- Rs5065- Rs5090 ranges.

Natural Gas: Sell at Rs180.5 stop loss above at Rs182.5 target- Rs176- Rs172 ranges.

DGCX/COMEX

Gold:
Buy around $1472- $1473 stop loss below $1468.5 target- $1479- $1484 ranges.

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