Market repot 30.08.2022

30^th, August,2022                                                                             

 

Commodity	Buy level (LME) Near	Sell level (LME) Near	48 Hours range	10 Days range
Copper	≤7800	≥8200	7800-8000	7600-8200
Aluminium	≤2300	≥2500	2375-2425	2350-2450
INR	≤79.30	≥80.10	79.40-79.80	79.30-80.10

 

 

 

 

       OUR VIEW

Commodity: -       Looks Bearish trend,

                               Copper- Current level are better selling level.

                              Aluminium- Current level are better selling level.

USD/INR: -          Better level to buy.

      FACTORS AFFECTING MARKET

·         Rise in coronavirus cases in china is new development of event due to that price of base metal has fallen.

·         Now power supply concern across the global resolved bit, which may protect price of base metals.

·          FED’s aggressive approach of rate hike and Recession fear news will make noise for couple of days. Till market will remain downward.

·         INR will be strong for one or two day, and get back near to 80 in on time. Rupee is strong due to RBI’s intervention.

\\             Previous forecasting result achieved, showing in Red:

Commodity	48 Hours range	10 Days range
Copper	7800-8100	7500-8300
Aluminium	2350-2425	2300-2500
INR	79.80(29/08)-80.10 (29/08)	79.30-80.20 (29/08)

 

Find previous research, All you need to know.

https://buysellbs.blogspot.com/2022/08/market-report-29082022.html

Thank You

Rahul Mudra

Disclaimer: This article is for Study and research purpose. Request you to use your wisdom before applying it.