Copper
Aluminium USD
48 hours
range
7850-8125
2375-2430
79.60-79.95
10 Days
range
7600-8200
2350-2450 79.30-80.10
- MARKET VIEW
Commodity:- Looks like a
bullish trend due to short supply
USD/INR:- looks bearish,
as the dollar is strong.
- OUR VIEW
Commodity:- Looks range
bound.
Copper- Better to sell
Aluminium-Better to sell
USD/INR:- Appears to be
range bound until around $80.
Better to sell at this level and to buy
if it comes near 79.30.
- Factors affecting markets
are :
Recession fear.
Power crisis.
Slow demand.
The Fed's interest rate hike.
- Apart from this, copper and
aluminium demand is sustained due to a slowdown and short supply in
industries.
- Due to that, Demand is slow
once power crisis issue solved, we may see some good rally in base metals.
- Overall trend for future is
Bearish in commodity, use every incident wisely.
- We may see some strongness
near in rupee near 79.30 as market settlement are some foreign (FII &
FDI) flow.
Thank you
Rahul Mundra
Disclaimer: This article is for Study and research purpose. Request you
to use your wisdom before applying it.
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