Market report 05.09.2022

05^th, September, 2022                                                                             

Commodity	Buy level (LME) Near	Sell level (LME) Near	48 Hours range	10 Days range
Copper	≤7600	≥8000	7575-7750	7500-8000
Aluminium	≤2270	≥2400	2275-2400	2250-2450
INR	≤79.30	≥80	79.55-79.90	79.30-80.10

 

 

 

 

OUR VIEW

Commodity: - Will get rise in couple of day’s short Bull Run to come.

                           Copper :- Better to buy,  Buy ≤ 7600, Sell ≥ 8000

                     Aluminium: - Better to buy, Buy ≤ 2270, Sell ≥ 2400

 INR            :- Looks to sell at this level, Buy ≤ 79.30, Sell ≥ 80               

 

 FACTOR AFFECTING MARKET

·        Today USA to remain close due to holiday of “Labor Day” so to no major movement is expected.

·        USA ‘Non-farm payroll’ data were negative which may force fed to raise interest rate aggressively.

·        Power issue in china has resolved but new covid situation and lockdown scenario will keep base metal volatile.

·        We believe that short rally and Bullish trend is expected in base metal.

·        INR will be range bound, Overall Rupee is weak.

Previous forecasting results achieved, showing in Red:

 

Commodity	48 Hours range	10 Days range
Copper	7525(02/09) – 7700(02/09)	7400 – 7900
Aluminium	2310(02/09) – 2380	2275(02/09) - 2425
INR	79.60(02/09)- 79.90(02/09)	79.30 – 80.10

 

 Find previous research, all you need to know.

https://buysellbs.blogspot.com/2022/09/02-th-september2022-commodity-buy-level.html

Thank you

Rahul Mudra

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