Daily Forecast 9 April 2014
Please note that below forecast is based on the closing basis and technical indicators at that time. Market situations may change depending on what level it opens. You are advised to consult your financial adviser or us before taking any positions.
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Gold
Gold is still strong above 28200. It can continue bounce back till 28760-28790 Level.
For tomorrow buy near 28360-28435 with SL 28200 TGT 28760, 28790.
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Silver
Overall for the week Silver will continue its technical bounce back. Above 43000 keep buy on dips strategy for TGT 44800, 45000, 45500…
For tomorrow Buying SL 42900 for TGT 43400, 44500, 45500.
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Copper
Copper has support at 404. Next strong resistance at 410 level.
For tomorrow watchout for break out above 410 breakout at 410 may lead towards 412-414 and then 422.50.
For tomorrow buy near 405 with SL 402 for TGT 410, 413, 422.
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Aluminium
Aluminium may continue bounce back. It has taken support at 107.80 levels
Tomorrow morning Keep buy on dips strategy above 107.80 level with SL 108 for TGT 109.60. Break out above 110.35 can take metal to new high.
We may see selling opportunity at 109.60 -110.10 SL 110.50 TGT 109, 108, 106.20
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Lead
Above 123 Lead may continue its bounce back till 125.20-126.80 levels. Watchout for breakout above 125. For tomorrow Below 126 Keep sell on rise view.
For tomorrow Sell with SL 126 for TGT 124, 123.
OR
Buy near 123 SL 122 TGT 125.20, 127.
Anyday closing above 125 lead may see 127, 130 levels in coming weeks.
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Zinc
Above 118 Lead may continue its bounce back till 124 levels. Watchout for breakout above 122. For tomorrow Below 124 Keep sell on rise view.
For tomorrow Sell with SL 124 for TGT 120, 119.
OR
Buy near 119 SL 118 TGT 122, 124.
Anyday closing above 122 lead we may see 124, 126 levels in coming weeks.
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Nickel
Nickel has resistance at 994 and 998. It may retrace below this level till 980 and then near 971 levels.
For tomorrow sell Nickel Below 998 with SL 998 TGT 980, 971.
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Crude
As suggested, since crude has sustained above 6130, buying has triggered now. Next major resistance is at 6205. Watch out for breakout above 6205.
For tomorrow Keep buy on dips view above 6100 with SL 6100 TGT 6205 and above 6205 if it sustain for 30 min to 1 Hr…then we may see next TGT 6268, 6388 level
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Natural Gas
NG can technically bounce back till 281, 286, 294 levels. Below 294 NG is weak.
For tomorrow buy near 268 SL 264 TGT 281, 286, 294.
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