Buy MCX Gold, Silver, Copper, Lead, Zinc: Dani Commodities

MCX Aluminium perpetually falling down extending its downtrend in June 2012. Aluminium fell by 1% or Rs 1.05 at Rs 103.45 per kg on Tuesday, 26th June and tested an intraday high at Rs 104.75 per kg and low at Rs 103.3 per kg. The contract traded below 9-day EMA and was found to be on oversold region with its RSI at 16.17. Aluminium breached the major support level of Rs 104 per kg and was found to be near to the another major support level of Rs 102.4 per kg.

Aluminium found resistance levels at Rs 104.3 per kg and Rs 104.8 per kg. At LME, Aluminium plummeted to July 2010 levels having dropped by 0.4% at $1851 per tonne on Tuesday. The concerns on the festering European debt crisis with spike in borrowing costs of Spain and Italy coupled with the mixed economic data from the US hampered the metal. But, the fall in aluminium inventories by 1725 tonnes to 4849975 tonnes at LME pared huge losses in the metal.

MCX GOLD
International: Major Support at USD1500. Bullish till USD1650.
Domestic: Buy above 30030, Stop loss 29950, Target 30110.

MCX SILVER
International: Major Support at USD26. Bullish above USD28.
Domestic: Buy above 53200, Stop loss 52900, Target 53500.

MCX COPPER
International: Major Resisatnce at LME 9600. Bullish till LME 8500.
Domestic: Buy above 417.50, Stop loss 415.50, Target 419.50

MCX LEAD
Domestic: Buy above 101, Stop loss 100.50, Target 101.50

MCX ZINC
Domestic: Buy above 102, Stop loss 101.50, Target 102.50.

MCX ALUMINIUM
Domestic: Buy above 103.50, Stop loss 103, Target 104.

MCX NICKEL
International: Bullish above 17,300 (LME).
Domestic: Buy on decline at 925 Stop loss 920, Target 930.

MCX CRUDE OIL
International: Major Support for WTI at USD78. Bullish above USD 92.
Domestic: Buy above 4575, Stop loss 4550, Target 4600 Else Sell below 4550, Stop loss 4575, Target 4520.

MCX NATURAL GAS
Domestic: Buy above 163, Stop loss 161, Target 165 Else sell bet 162.50-162.80 Stop loss 164.50 Target 160.50-160.

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