06th,
October,
2022
|
Commodity |
Buy level (LME) Near |
Sell level (LME) Near |
48 Hours range |
10 Days range |
|
Copper |
≤7400 |
≥7700 |
7550 – 7850 |
7300 – 8000 |
|
Aluminium |
≤2200 |
≥2350 |
2275 – 2400 |
2150 – 2450 |
|
INR |
≤81.50 |
≥81.90 |
81.40 – 81.80 |
81.30 – 82.00 |
OUR
VIEW
Copper
– Looks to Bullish in short run but not sustain too long.
Better to sell, Buy ≤ 7400, Sell ≥ 7700
Aluminium
– Looks to Bullish in short run but not sustain too long.
Better to sell, Buy ≤ 2200, Sell ≥ 2350
USD/INR – INR looks weak and ready to touch levels of 82.
Better
to buy, Buy ≤ 81.50, Sell ≥ 81.90
FACTOR AFFECTING MARKET
·
LME ban Russian metals, which allow
commodities to touch higher.
·
Apart from above rally, market is
supported by some other factors too:
i)
Higher crude prices
ii)
Ease of covid restriction in China
iii)
Chile’s Copper output reduced
·
But fear of slowdown and recession is
intact, market not gone up as it should go, indicates slow down and downward
trend.
·
Better to cover your loss every
opportunity you get as it will not sustain too long.
·
Rupee to remain under pressure as crude
price go up and some Geopolitical threat use arise.
Previous forecasting
results achieved, showing in Red:
|
Commodity |
48 Hours
range |
10 Days
range |
|
Copper |
7350 – 7600(04/10) |
7150 – 7650(04/10) |
|
Aluminium |
2175 – 2275(04/10) |
2125 – 2300(04/10) |
|
INR |
81.20(04/10) – 81.60(04/10) |
81.00 – 82.10 |
Find previous three research, all you need to know.
https://buysellbs.blogspot.com/2022/10/in-spite-of-all-good-indicators-why.html
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
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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