Monday, 2 June 2014

Weekly Outlook 2 – 6 June 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 June is trading below all its moving averages and indicators are in oversold zone…
Gold is trading near its support zones….We will post our updates when market opens on Monday….

Our view will be buying on dips for TGT 29000 to 30000 again….

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 Silver

 Silver is also poised for a bounce back….We will buy near 38200-38500 levels for the TGT 40000, 42000, 45000

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Copper

Copper is trading range bound for quite some time now...The indicators are mixed. Watout for break down below 405 level. Any day closing below 405 will trigger fresh selling which can take copper to 390 to 399 levels.

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 Aluminium

Aluminium below 114 keep sell on rise view for TGT between 97-100

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 Lead

Lead may retrace till 119-120 or more....keep sell on rise view below 128 levels with SL 128 for TGT 120-119, followed by 117 leves....

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 Zinc

 Zinc below 126 levels keep sell on rise view for TGT 118.10

Positional traders maintain SL 117 for TGT???

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 Nickel

Nickel is trading range bound for a long time….we expect above 1075 levels keep buy on dips view for TGT 1300 +

Positional traders can keep buying positions till TGT 1450 ( Buy more @ 1079)

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 Crude

Crude indicators are mixed….below 6240 keep sell on rise view and above 5980 levels keep buy on dips view….we will update on crude once the market opens on Monday….

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 Natural Gas

 NG above 254 levels keep buy on dips view for TGT 290, 305, 317 levels

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