17th,
October, 2022
|
Commodity |
Buy level (LME) Near |
Sell level (LME) Near |
48 Hours range |
10 Days range |
|
Copper |
≤7350 |
≥7600 |
7350 – 7650 |
7200 – 7800 |
|
Aluminium |
≤2175 |
≥2300 |
2240 – 2395 |
2175 – 2450 |
|
INR |
≤82.30 |
≥82.80 |
82.30 – 82.60 |
82.00 – 82.80 |
OUR VIEW
Copper
– Looks to Bullish but not sustain too long.
Better to sell, Buy ≤ 7350, Sell ≥ 7600
Aluminium
– Looks to Bullish.
Better to sell, Buy ≤ 2175, Sell ≥ 2300
USD/INR – INR looks to weak.
Better
to buy, Buy ≤ 82.30, Sell ≥ 82.80
FACTOR AFFECTING MARKET
·
Although fundamentals are weak for
Copper but it will bullish for this week but not sustain too long.
·
Overall, Copper looks to weak why? Reasons
:-
i) Fed rate hike is almost confirm near 75
BPS.
ii) Goldman Sachs reduce UK’s growth.
iii) UK to start bond buying events.
iv) Point (ii) + (iii) will affect on LME directly
or indirectly.
v) Rise in Shanghai warehouse Copper stock
vi) No fresh buying due to festivals in
India
·
Aluminium looks demanded and
fundamentally strong.
·
Indian Rupee looks weaker and will play
in Range between 82.30-82.70 for a while.
·
This is good time to cover losses or
profit on every Rally, these chances will not come so frequent in the near
future.
Previous forecasting results achieved, showing in Red:
|
Commodity |
48 Hours range |
10 Days range |
|
Copper |
7450 – 7700(14/10) |
7300 – 8000 |
|
Aluminium |
2250 – 2375(14/10) |
2150 – 2400(14/10) |
|
INR |
82.00(14/10) – 82.50(14.10) |
81.80 – 82.80 |
Find previous three
research, all you need to know.
https://buysellbs.blogspot.com/2022/10/how-us-cpi-data-change-mood-of-fed-what_14.html
https://buysellbs.blogspot.com/2022/10/how-will-get-chance-to-recover-your-loss.html
https://buysellbs.blogspot.com/2022/10/what-imf-believe-about-current-economy.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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