Wednesday, 7 May 2014

Daily Forecast 7 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

Gold for tomorrow we can suggest 2 calls
1.Sell near 28940-28960 SL 29100 TGT 28800, 28670
2.Buy near 28650-28670 with SL 28500 for TGT 29200, 29500, 29700

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 Silver

1. Sell near 42940 SL 43100 TGT 42400, 42200
2. With SL below 41700 keep buy on dips view for TGT 43000, 44000 and above.

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Copper

Copper below 409 can slip down till 404.35, 403 levels.

Positional traders can keep buying on every dip till 398 with SL 395 for TGT 440+

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 Aluminium

 Aluminium below 107.20 can slip down till 105, 104 levels.

Keep sell on rise view below 107.20 with SL 107.20 for TGT 105, 104.

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 Lead

Lead below 126 can slip till 122.85. It has made its first attempt to break 126 level. If the attempt fails then it may test 127 level again. If it closes above 127.50 level then fresh buying may start…

But it looks like 126 may be broken tomorrow for TGT 125 and then 122.85 level.

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 Zinc

 Zinc has support at 123 which it tried to break. Multiple failure to hold below 123 can take zinc to
125 level again. If it holds below 123 then expect TGT 122.15, 121.85.

Below 125.50 level keep sell on rise view for TGT 122.15, 121.85

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 Nickel

Nickel is consolidating at the moment and has resistance at 1140. Above 1108 keep buy on dips for TGT 1133, 1140.

One can keep accumulating below 1140 for TGT near 1174.

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 Crude

Crude now above 5940 with SL 5920 keep buying for TGT 6080, 6105 and may be above levels.

Here keep an eye on 6060 level. Multiple closing below 6060 can take crude to 5956 level, which can be good levels to buy again.....

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 Natural Gas

NG is heading towards 291 and above levels. Above 288 keep buying for TGT 291, 298 levels for today

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