10th,
October,
2022
|
Commodity |
Buy level (LME) Near |
Sell level (LME) Near |
48 Hours range |
10 Days range |
|
Copper |
≤7300 |
≥7600 |
7350 – 7600 |
7200 – 7700 |
|
Aluminium |
≤2150 |
≥2250 |
2200 – 2250 |
2125 – 2300 |
|
INR |
≤82 |
≥82.70 |
82.00 – 82.60 |
81.80 – 83.00 |
OUR
VIEW
Copper
– We will see bit Bullish trend today.
Better to sell, Buy ≤ 7300, Sell ≥ 7600
Aluminium
– Looks to bit Bullish.
Better to sell, Buy ≤ 2150, Sell ≥ 2250
USD/INR – INR will remain strong today but not too long.
Better
to sell, Buy ≤ 82, Sell ≥ 82.70
FACTOR AFFECTING MARKET
·
Higher crude
price and some strongness in Indian Rupee give boost to commodity market, but
will not sustain too long.
·
USA Non-farm
pay roll data were bit better than expected but rate hike chances become quite
brighter.
·
Copper &
Aluminium demand rise in china will give some boost to coper.
·
Overall trend
is down. Better to cover your position in every hike.
·
Indian Rupee
looks to under pressure due to global indication and higher crude price.
·
RBI has now
only one option remain i.e. Interest rate hike. Overall $ 83 level is not too
far away.
Previous forecasting
results achieved, showing in Red:
|
Commodity |
48 Hours
range |
10 Days
range |
|
Copper |
7450(07/10) – 7700 |
7200 – 7800 |
|
Aluminium |
2200 – 2275(07/10) |
2150 – 2350(07/10) |
|
INR |
81.80 – 82.40(07/10) |
81.50 – 82.50(07/10) |
Find previous three research, all you need to know.
https://buysellbs.blogspot.com/2022/10/how-to-survive-in-this-volatility-what.html
https://buysellbs.blogspot.com/2022/10/what-will-be-effect-of-banning-of.html
https://buysellbs.blogspot.com/2022/10/in-spite-of-all-good-indicators-why.html
Thank you
Rahul Mudra
Disclaimer: This article is for Study
and research purpose. Request you to use your wisdom before applying it.
No comments:
Post a Comment