BUYSELLBS: Yesterday was trailer of Recession? What to happen today in Copper, Aluminium, USD/INR markets? Maximize your profit and minimize your loss.

Thursday, October 20, 2022

Yesterday was trailer of Recession? What to happen today in Copper, Aluminium, USD/INR markets? Maximize your profit and minimize your loss.

20^th, October, 2022

Commodity	Buy level (LME) Near	Sell level (LME) Near	48 Hours range	10 Days range
Copper	≤7300	≥7500	7325 – 7500	7200 – 7800
Aluminium	≤2150	≥2250	2150 – 2225	2100 – 2300
INR	≤82.50	≥83.10	82.80 – 83.20	82.50 – 83.35

OUR VIEW

Copper – Looks to gain some momentum from here, looks bit up.

Better to buy, Buy ≤ 7300, Sell ≥ 7500

Aluminium – Looks Bullish.

Better to buy, Buy ≤ 2150, Sell ≥ 2250

USD/INR – INR to remain weak for couple of working days.

Better to sell, Buy ≤ 82.50, Sell ≥ 83.10

FACTOR AFFECTING MARKET

· Although some uncertainty privilege in market but still some positive for the Copper:-

1) Peru’s Copper production affected

2) Downward cycle is from long time, expected to go up

3) Rise in crude oil may boost commodities

4) Doller index return $ 113 level but still threat is there

5) Yesterday strongness in USD was due to UK’s inflation data but will be discounted soon.

· Aluminium rod’s high demand may allow Aluminium prise to rise.

· INR Depreciation will be faster than previous, will remain weak. But Don’t worry you will get frequent chances of 0.5 – 0.7 paisa time to time.

Some Reports & facts

1) ‘World Steel Association’ is optimist about demand of steel to rise bit in 2023

2) ‘International Copper Research Group’ say Copper inventory to remain surplus in 2023’ means Copper to remain in low demand. But don’t worry situation will keep changing.

Previous forecasting results achieved, showing in Red:

Commodity	48 Hours range	10 Days range
Copper	7350(19/10) – 7500(19/10)	7200 – 7800
Aluminium	2175(19/10) – 2225(19/10)	2150(19/10) – 2300
INR	82.20(19/10) – 82.60(19/10)	81.80 – 82.80(19/10)