Sell MCX crude below Rs 5340: Dani Commodities

“Crude oil futures are trading lower in Asia electronic trades today following data which showed that China Manufacturing activity slumped to lowest since March 2009. An index of China's manufacturing activity fell to 47.6 in August on a 100-point scale, down from July's 49.3 and marking the lowest reading since March 2009, the data's compiler HSBC said Monday. The final result for the HSBC China manufacturing Purchasing Managers' Index marked a downward revision from an initial 47.8 reading and was down sharply from 49.3 in July. Asia's major stock markets started September on a downbeat note today, with shares generally lower as currency headwinds hit Tokyo and weak manufacturing data hurt Hong Kong.”

“Japan's Nikkei Stock Average surrendered 0.5%, while South Korea's Kospi and Australia's S&P/ASX 200 each fell 0.4%. In China, Hong Kong's Hang Seng Index lost 0.3%, while the Shanghai Composite Index traded flat after Chinese data released Saturday showed the country's manufacturing sector contracted in August. On the New York Mercantile Exchange, light sweet crude futures for delivery in October are trading down 17 cents at $96.60 per barrel. It settled at $96.44 a barrel by close of trade on Friday. For the week, New York-traded crude oil futures rose 0.35%.”

MCX CRUDE OIL: Sell below 5340, Stop loss 5370, Target 5310.

MCX GOLD: Buy at 31220, Stop loss 31160, Target 31330.

MCX SILVER: Buy at 60600, Stop loss 60300, Target 61000.

MCX COPPER: Buy at 428.50, Stop loss 426.50, Target 431.

MCX LEAD: Sell at 109.30, Stop loss 109.80, Target 108.80

MCX ZINC: Sell at 102.50, Stop loss 103, Target 102.

MCX ALUMINIUM: Sell at 105.20, Stop loss 105.60, Target 104.80.

MCX NICKEL: Buy at 900, Stop loss 894, Target 907.

MCX NATURAL GAS: Sell below 155, Stop loss 157.50, Target 152.50.

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