MCX Daily Base Metals Report

Precious Metals

CS GOLD (OCT) OVERVIEW: TREND : SIDEWAYS RESIST
 2: 29760 RESIST
1: 29690 SUP
1: 29530 SUP
2: 29430
CS SILVER (SEP) OVERVIEW: TREND : SIDEWAYS RESIST
 2: 38240 RESIST
1: 38100 SUP
 1: 37790 SUP
2: 37600

Base Metals 
CS COPPER (AUG) OVERVIEW: TREND : SIDEWAYS RESIST 
2: 424.00 RESIST
1: 421.00 SUP
 1: 416.00 SUP
 2: 413.00
 CS NICKEL (AUG) OVERVIEW: TREND : BULLISH RESIST
 2: 969.00 RESIST
1: 964.00 SUP
1: 953.00 SUP
 2: 947.00
 CS ZINC (AUG) OVERVIEW: TREND : BEARISH RESIST
 2: 183.00 RESIST
1: 182.00 SUP
1: 180.00 SUP
2: 179.00
CS LEAD (AUG) OVERVIEW: TREND : SIDEWAYS RESIST
 2: 148.50 RESIST
 1: 147.50 SUP
1: 145.50 SUP
2: 144.50
CS ALUMINIUM (AUG) OVERVIEW: TREND : BULLISH RESIST 
2: 142.00 RESIST
1: 140.50 SUP
1: 138.50 SUP
 2: 137.50
Energies 
CS CRUDE OIL (AUG) OVERVIEW: TREND : BEARISH RESIST 
2: 4650 RESIST
1: 4630 SUP
1: 4520 SUP 2: 4470
CS NATURAL GAS (AUG) OVERVIEW: TREND : BULLISH RESIST
 2: 205.50 RESIST
1: 204.00 SUP
1: 199.50 SUP
 2: 197.00

MCX NICKEL AUG on Thursday as seen in the Daily chart opened at 952 levels and made day high of 962.50 levels. During this period crude came down to 951.60 levels and finally closed at 960.30 levels. Now, there are chances of up movement technically & fundamentally.

 On weakened US dollar, LME nickel climbed up gradually with support at the daily moving average.
 It increased 1.2% from Tuesday to close at $14,040/mt with inventory down 918 mt to 250,548 mt.
DAILY RECOMMENDATION: BUY MCX NICKEL AUG ABOVE 962 LEVELS FOR TARGET OF 972/980 WITH SL 949 OF LEVELS.

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