Buy MCX Gold, Silver, Copper, ZINC, Crude:Dani Commodities

New measures to underpin weak economies in Europe and US led to gains in major metal counters on new trading week. LME Copper three month forwards were last seen trading at $ 7615 per tonne, up from $ 7560 per tonne last week. The most active Copper contract for August expiry ended at Rs 420 per kg on Saturday, this is expected to show gains towards Rs 423-424 in the opening moves. LME three month forwards prices of Nickel was trading up by $ 50 at $ 15951 per tonne. MCX nickel closed at Rs 882 per kg.

The decline in US GDP growth has again reinstated talks that the stimulus measures was required if US needs to sustain any sort of growth path. The second quarter growth of US deteriorated to 1.5% from the first quarter growth rate of 2%. Decline in consumer spending, residential investment and acceleration of imports.

MCX GOLD
International: Major Support at USD1550. Bullish till USD1625.
Domestic: Buy at 29790, Stop loss 29730, Target 29840.

MCX SILVER
International: Major Support at USD26. Bullish above USD28.
Domestic: Buy at 53275, stop loss 53100, Target 53500.

MCX COPPER
Domestic: Buy at 422.50, Stop loss 420.50, Target 424.50.

MCX LEAD
Domestic: Buy at 106.10, Stop loss 105.60, Target 106.60

MCX ZINC
Domestic: Buy at 102.20, Stop loss 101.70, Target 102.70.

MCX ALUMINIUM
Domestic: Buy at 103.40, Stop loss 103, Target 104.

MCX NICKEL
Domestic: Buy on dips at 881, Stop loss 876, Target 886.

MCX CRUDE OIL
International: Major Support for WTI at USD83 Bullish above USD 91
Domestic: Buy at 5025, Stop loss 5000, Target 5050.

MCX NATURAL GAS
Domestic: Buy above 170, Stop loss 167, Target 173

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