Friday, 2 May 2014

Daily Forecast 2 May 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

Now below 28800 Gold may slip down till next support 28500 and then 28300 and more. Below 28800 sell on rise.

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 Silver
As suggested 41200 is achieved. Now next target near 40000, 38000. Below 41800 with SL 41850 keep sell on rise view.

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Copper

As suggested both TGT 410 and 409 are achieved. Copper June Expiry has support at 408 which is broken. Now Below 410 keep sell on rise view.

Now next target near 404, 401.

Positional trader can hold copper sell for target near 355 in coming weeks.

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 Aluminium

Aluminium has broken all its supports and now in down trend. Keep sell on rise view below 108 for TGT 104.

Here watchout for breakdown below 106.

Positional traders Keep accumulating on every rise for long term target near 99.

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Lead

Lead May Expiry is in down trend now and has broken 126.50 support Now below 126.50 next TGT near 125.

Here watchout for breakdown below 125.

Positional traders can hold sell positions for TGT near 118, 114, 105.

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 Zinc

 Zinc May expiry is in down trend now and has broken 123 support. Next support is at 122. Once broken firmly next TGT near 121.

Positional traders can hold sell positions for TGT near 117 and more down.

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 Nickel

Above 1100 Keep buy on dips view with SL 1080 for TGT near 1140.

Here watchout for breakup above 1108.

Positional traders can hold buy positions for TGT near 1185, 1245.

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 Crude

Crude is in down trend has broken support at 6084. Here below 6120 keep sell on rise view.

Next TGT is 5952.

Positional traders can hold sell positions for TGT near 5555.

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 Natural Gas

We will suggest keep buying NG on every dips above 280. For TGT 295 and then 304, 317.

If  NG closes below 280 then next TGT 253. Here again buy for TGT 304, 317…

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