Market report 06.09.2022

06^th, September, 2022                                                                             

Commodity	Buy level (LME) Near	Sell level (LME) Near	48 Hours range	10 Days range
Copper	≤7700	≥7800	7600 - 7850	7500 – 8000
Aluminium	≤2250	≥2400	2260 - 2350	2250 – 2400
INR	≤79.30	≥80	79.70 - 79.90	79.30 - 80.10

 

 

 

 

 

OUR VIEW

Commodity: - Copper - Better to buy, Buy ≤ 7700, Sell ≥ 7800                      

                         Aluminium: - Better to sell, Buy ≤ 2250, Sell ≥ 2400

USD/ INR   :- Better to sell, Buy ≤ 79.30, Sell ≥ 80               

 

 FACTOR AFFECTING MARKET

·        As we said yesterday some short rally is expected and will be continue till couple of days.

·        In copper china’s official announcement to invest in infrastructure news has raised copper demand.

·        In aluminium infrastructure investment effect is yet to come. But, now slow demand due to lockdown situation kept aluminium down.

·        USD/ INR :-   (1) Statement by RBI GOVERNER Shaktikanta Das on                                      INR that it is strong compere to other currency.

                                         (2) This quarter inflation is expected to down may                                                               Boost INR in coming couple of days.     

                                            

Previous forecasting results achieved, showing in Red:

 

Commodity	48 Hours range	10 Days range
Copper	7575(05/09) – 7750 (06/09)	7500 – 8000
Aluminium	2275(05/09) – 2400	2250(05/09) - 2450
INR	79.55 - 79.90(05/09)	79.30 – 80.10

 

Find previous research, all you need to know

https://buysellbs.blogspot.com/2022/09/market-report-05092022.html

Thank you

Rahul Mudra

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