Market report 02.09.2022

 

02^th, September, 2022                                                                             

 

Commodity	Buy level (LME) Near	Sell level (LME) Near	48 Hours range	10 Days range
Copper	≤7500	≥7900	7525-7700	7400-7900
Aluminium	≤2250	≥2450	2310-2380	2275-2425
INR	≤79.30	≥80	79.60-79.90	79.30-80.10

 

 

 

 

 

OUR VIEW

Commodity: - Currently market is panic but situation will recover in couple of                   

                          Days. Bull expect, trend in near terms.

                           Copper :- Better to buy,  Buy ≤ 7500, Sell ≥ 7900

                     Aluminium: - Better to buy, Buy ≤ 2250, Sell ≥ 2450

 INR            :- Better to sell, until braes & 80. Buy ≤ 79.30, Sell ≥ 80               

 

REFRENCE FACTOR

·         What normal businessperson getting news is one or two day older news, which is already discounted by market.

·         Today, major event or output is us job data. Although no major change is expected, compare to previous.

·         For a short run, we can see Bull Run in base commodities as one cycle of down trend is completed. However, this will not resist for long.

·         Overall trend is down due to recession fear.

·         INR will hold its level near 80 and will be strong near 79.30 but will not resist too long these.

 

Previous forecasting results achieved, showing in Red:

 

Commodity	48 Hours range	10 Days range
Copper	7650(01/09) – 8000	7650(01/09) – 8200
Aluminium	2325(01/09) – 2425	2325(01/09) - 2500
INR	79.25(01/09)- 79.60(01/09)	79.25(01/09) - 79.90(01/09)

 

Find previous research, all you need to know.

https://buysellbs.blogspot.com/2022/09/market-report-01092022.html

Thank you

Rahul Mudra

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