04th,
October,
2022
|
Commodity |
Buy level (LME) Near |
Sell level (LME) Near |
48 Hours range |
10 Days range |
|
Copper |
≤7200 |
≥7550 |
7350 – 7600 |
7150 – 7650 |
|
Aluminium |
≤2125 |
≥2250 |
2175 – 2275 |
2125 – 2300 |
|
INR |
≤81.20 |
≥81.80 |
81.20 – 81.60 |
81.00 – 82.10 |
OUR
VIEW
Copper
– Looks to Bearish.
Better to sell, Buy ≤ 7200, Sell ≥ 7550
Aluminium
– Looks to Bearish.
Better to sell, Buy ≤ 2125, Sell ≥ 2250
USD/INR – Indian Rupee looks weak but grab each downfall.
Better
to buy, Buy ≤ 81.20, Sell ≥ 81.80
FACTOR AFFECTING MARKET
·
Once again fresh ban threat on Russia
metal could fluctuate price but it will not happen overnight.
·
Copper gain some momentum due to strongness
in Indian Rupee.
·
Aluminium gain some spike due to demand
and output cut by Norsk Hydro.
·
However, overall trend is down, market
has not gain as much as it should which is indication of downward trend.
·
INR to remain weak due to higher crude
price and International pressure.
·
Better to sell and cover your losses if
any do not go for fresh buying.
Previous forecasting results
achieved, showing in Red:
|
Commodity |
48 Hours
range |
10 Days
range |
|
Copper |
7250 – 7400(03/10) |
7100 – 7600 |
|
Aluminium |
2125(03/10) – 2175(03/10) |
2050 – 2200(03/10) |
|
INR |
81.60(03/10) – 81.95(03/10) |
81.00 – 82.10 |
Find previous three research, all you need to know.
https://buysellbs.blogspot.com/2022/10/how-will-be-your-this-business-week.html
https://buysellbs.blogspot.com/2022/09/is-market-about-to-face-any-shocker.html
https://buysellbs.blogspot.com/2022/09/any-positive-news-for-todays-trade-what.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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