BASE METALS Evening Round : 07.09.2016

BASE METALS Evening Round : 07.09.2016



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COPPER MCX Nov Technical Commentary

While the stiff resistance placed near 314 has been breached, corrective
dips to 312.5 may be seen before bouncing back. Even in this relatively
positive scenario, slippage past 311.5 could invite weakness, though it
may culminate into a major bearish move only below 309.5.

Technical Levels
R3 322.5/325
R2 319.8/321
R1 315.5/316.8/318.5
Turnaround 312.5
S1 311.5/309.5
S2 308/306.5
S3 305/303-301

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NICKEL MCX Sep Technical Commentary

The prevailing mild positive momentum could stretch towards 681-685
ranges in the session ahead, though dips to 675-672 cannot be ruled out
before moving up. However, a vertical fall below 668 or inability to clear
685 could dilute the positive sentiments.

Technical Levels
R3 705
R2 692/699
R1 681-685
Turnaround 685
S1 675-672
S2 664/656
S3 645/634

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LEAD M MCX Sep Technical Commentary

Even as the trend stays positive corrective dips to 128 ranges may be seen
and slippage past the same with considerable volume could lead to a selloff
to 127-126.5 level. In the meantime, a direct rise over 130.2 could
bolster positivity.


Technical Levels
R3 132.5/133.4
R2 131.30-131.7
R1 130.2-130.8
Turnaround 128
S1 128.2/127.4
S2 126.5/125.7
S3 124.8-124

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ZINC M MCX Sep Technical Commentary

Range bound moves inside 156.5-153.2 seem likely in the session ahead
and a break out from either side could give fresh directional cues.

Technical Levels
R3 161
R2 157.4/159
R1 155.5/156.5
Turnaround 146.5-153.2
S1 154.6/153.2
S2 152.5/151.7
S3 150.8/150.2

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ALUMINI  MCX Sep  Technical Commentary

The trend stays weak and selling pressure may persist till 104-103ranges.
However, before taking such moves, pullbacks to 106.8 cannot be ruled
out. Moreover, break above 107 with volumes may see short covering rallies

Technical Levels
R3 109.6/110.4
R2 107.9/108.8
R1 105.9/106.8
Turnaround 106.8
S1 104.5/103.3
S2 102.2/101.3
S3 100.8/99.5

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