19th, September,
2022
|
Commodity |
Buy level (LME) Near |
Sell level (LME) Near |
48 Hours range |
10 Days range |
|
Copper |
≤7600 |
≥7800 |
7700 – 7850 |
7550 – 8000 |
|
Aluminium |
≤2250 |
≥2350 |
2250 – 2290 |
2240 – 2380 |
|
INR |
≤79.30 |
≥79.70 |
79.50 – 79.85 |
79.20 – 80.10 |
OUR VIEW
Copper – Looks to Bullish but not sustain too
long.
Better to sell, Buy ≤ 7600,
Sell ≥ 7800
Aluminium – Looks to bullish.
Better to buy, Buy ≤ 2250, Sell ≥ 2350
USD/INR – Looks to strong.
Better to
sell, Buy ≤ 79.30,
Sell ≥ 79.70
FACTOR
AFFECTING MARKET
·
Majorly all eyes are on Fed’s action.
·
Copper to remain strong for this week. Supported by following reasons.
i)
LME copper inventory drop.
ii)
Some disturbance in Chile mins which may impact supply.
iii)
Copper demand raise in china.
·
Aluminium will remain strong us, we suggest last week. However, demand
in china has gone down for Aluminium.
·
This week will give direction to financial & commodity market as
major banks are meeting this week and their action might clear the recession
situation.
·
Good foreign inflow has kept INR strong and for couple of week not looks
to go above $80.
Previous forecasting results achieved, showing in Red:
|
Commodity |
48 Hours range |
10 Days range |
|
Copper |
7600(16/09) – 7800(16/09) |
7500 – 8000 |
|
Aluminium |
2250(16/09) – 2300(16/09) |
2250(16/09) –
2450 |
|
INR |
79.60(16/09) – 79.90(16/09) |
79.30 –
80.10 |
Find previous research, all you need to know.
https://buysellbs.blogspot.com/2022/09/how-usas-cpi-data-will-affect-you-trade_16.html
Thank you
Rahul Mudra
Disclaimer: This article is for Study and research purpose. Request you to use your wisdom before applying it.
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