Market View for 29th April

Base metals showed some more weakness yesterday. Lead & Zinc were already very weak and yesterday Copper & Nickel also participated. I had given hint & asked a simple question on 21st April -
"Now the question arises is it a retracement or correction???? Is it time to build shorts or buy on dips??? Guess !!!!!"
We have picked up this reversal on its initial phase......Remember we have expiry of these base metals tomorrow....

Gold & Silver as mentioned yesterday have witnessed some profit booking..So again the upside is over or its just a simple profit booking???? Keep guessing...

Crude is still weak until it closes above 2585-2610 range.....so short on rise...

Natural Gas has shown some positive sign in yesterday's trading...Although its weak but risky players can enter longs on dips with the SL below 164....

Market View for 28th April

As mentioned yesterday we have seen heavy selling in few metals like Lead, Zinc but Copper & Nickel didnt fall much and Aluminium was neutral. Thats why I said that we have mixed behavior in base metals...

Gold & Silver also risen as per the expectations...Some profit booking is expected today so stay cautious...

Natural Gas also fallen more & made a life time low of 165.5

Crude didnt cross the magic level where bull will come into power and fell badly...its still weak until trades or closes above 2585-2610 range...

Market View for 27th April

First of all I would like to apologize guys as I was not able to update the blog regularly in the last week as I was not getting enough time to update.....Few other very important things kept me busy last week....I am back now...

As mentioned on 21st April regarding base metals whether the fall was retracement or correction? Some more fall after that you all have seen but now as far as trend is concern we have to be scrip specific because not all the base metals are showing the same behaviour. Some are turning into a new downtrend whereas some are expected to bounce back from these levels. Watch out more this week ...

Crude has already given nice returns in last week ever since it has broken its lower TL. We can see some good buying above a specific level this week. Only buy above that...But whats the level...ask for it!!!!

Natural Gas is still extremely weak and we are short ever since it has broken 196 levels. Remain short until it manages to close above 196 with good volumes..Till then sell on rise..

Gold & Silver have shown some good upmove last week. We can still see some more upside. Remain long in Gold as long as its trading above 14430 & Silver above 20740

Market view 21st April

Base metals after running up for quite sometime has shown some decent selling yesterday. Now the question arises is it a retracement or correction???? Is it time to build shorts or buy on dips??? Guess !!!!!

Crude as mentioned earlier had broken the lower trendline last week and was unable to break 2670 which was a huge resistance hence fell badly yesterday. Already given 150+ from the trendline break...What next????

Gold & Silver has seen a nice recovery yesterday. Although the charts doesnt looks very positive so lets see whether this recovery sustains or not...Interesting game ahead..

17th April Calls

Short Crude below 2644 SL 2670 TGT 2615/2590 => TGT1 met intrday and exited there at 2622 before closing

Short Natural Gas between 181.3-182 SL 184.4 TGT 180/178/176/174 => In the morning it opened down so didnt trigger & after making a low of 176.8 it bounced back sharply & SL hit.
After that made a high of 188.4 & closed at 187.8

16th April Calls

Short Crude between 2615-2625 SL 2660 TGT 2590/2555/2540 => TGT1 met & trailing SL hit. Then again shorted at 2640 with same SL & booked at 2611.
Buy Copper above 238 SL 235.5 TGT 239.5/241.5/243 => TGT1 & TGT2 met & then trailing SL hit
Short Zinc at 76.2 SL 77.2 TGT 75.4/74.6/74 => All target met intraday
Short Gold below 14230 SL 14285 TGT 14180/14130 => Both target met intraday.

Market view 17th April

Profit booking is seen in base metals on higher levels. A little sentiment is also changed in some of them. Time to be a little more cautious for bulls & bears both. Is it a retracement or a new trend is forming? Ask me !!!!

Gold & Silver trend is changing now & its heading down...more to come in coming days...

Natural Gas also looks more weak & should fall more.

No change in Crude Oil formation.

Market View for 16th April

All base metals as per the expectation are rocking..As I said stay cautious and buy on dips so its working the same way...In Copper short at 238 the target was 228 and it made a low of 229.4 so missed the final target with 1.4 Rs. and on the upmove we are long above 235.35 once it has broken the 14th April high.

Zinc finally broke out with huge volumes & my positional target of 74 met yesterday. Buy call given above 66 on cup and handle breakout.

Lead & Nickel also continued their bullish behavior.....

Crude seems to have entered a little bearish zone as the lower trendline of the triangle is broken. Exact levels to short with SL are only for clients.

Gold & Silver are still non trending and are in trading range....Will wait for the next trend to develop to have another set of huge gains.....

Market View 14th April

Base metals are still positive but as mentioned stay cautious & keep booking profits on important levels. They have been running for so long so might take some rest before starting again. Trade with strict SL.

Gold & Silver showed nice recovery. As long as we are holding levels mentioned yesterday we are good.

Crude again showed huge volatility and from days high fell down to days low and then bounced back sharply to upside. Tomorrow is expiry of Crude so this behaviour is expected. Trade cautiously.

Views on rest is same. Keep watching this space for more updates.....

Calls for 13th April

Short Copper at 238 SL 239.60 TGT 236/234/232/230/228 => TGT1 and TGT2 met intraday only. Holding overnight shorts. Next support at 227.1

Buy Zinc above 69.7 SL 68.6 TGT 70.2/70.7/71.4 => TGT1 and TGT2 met intraday & then trailing SL hit

Buy GOLD above 14280 SL 14225 TGT 14350/14410/14465 => All target met

Update on Copper Buy call

My final target of 237 in Copper buy also achieved today. Now 238.1-239.2 is resistance zone. Watch out !!!

Market View 13th April

All base metals seems to be in strong uptrend & can be bought on dips. But at the same time we need to be a little cautious so trade with strict SL.

Crude Oil is consolidating in a triangle and can breakout in either direction depending on which side TL is breached.

Natural Gas is still weak and can be shorted on rise.

Gold & Silver although are in downtrend but for Gold 14017 & Silver 19794 levels are very important support. More weakness can be seen only below them. Till these levels hold we can see some recovery from here.

Outlook on Crude Oil

Hi All,

Crude oil after being highly volatile in last couple of weeks is now consolidating in a triangle. So a breakout is expected on either side break of the TL. So keep an eye.

Update on Copper Call given on 3rd April

Hello Viewers,
I have given the positional buy call in Copper (kindly see below under the heading 3rd April calls) on 3rd April -
==========================================
3rd April Calls
Positional Buy Copper abv 211.50 SL 204 TGT 216/221/226/232/237 => TGT1 and TGT2 met intraday only.
=======================================
Its 3rd target of 232 met today and high made 234.80 ...... Final target about to reach...hope you all have enjoyed !!!!

Zinc update

Hello Viewers,
On 6th April I have posted the chart of Zinc which had given Cup n Handle BO. This week it had taken support on its long term Trendline as mentioned earlier and shot up like a rocket. Touched today 69.4 as high..Another wonderful pick...Right on time !!!

Attached is the updated chart....

Aluminium Update

Hello Viewers,

On 6th April I have posted the chart of Aluminium which had given Flag n Pole BO. This week it had retraced back to MA20 and shot up like anything. Touched today high of 77.35. Wow what a wonderful pick...Right on time !!!

Here is the updated chart .............

Update on 7th April Call

Final target of 2525 also met in Crude overnight short. Hope all enjoyed!!!

Market View for 8th April

Gold & Silver are still weak but after some consistent selling in last few days they might show slight recovery. They are still sell on rise.

Crude heading down. We shorted yesterday at 2525 and carried shorts overnight & booked today around 2448 levels. Still holding with trailing SL.

Base metals specially Zinc & Copper have slight change in sentiment. Exact levels & direction are for clients :)

I have been shouting for last so many days that Natural Gas is weak and see how it has fallen below 190. Again its a sell on rise item as of now.

Calls for 7th April

Short Natural Gas below 187 SL 189.25 TGT 185.3/183.1/181.4 => All target met intraday only.
Short Crude at 2525 SL 2554 TGT 2500/2475/2450/2425 => TGT1 met intraday and carried shorts overnight for more gains. Expecting a gap down.

Market View for 7th April

Base metals are still positive but some profit booking was seen at higher levels in them.Nothing to worry so far. Bulls are still in control.

Gold & Silver are cracking badly as predicted and they are trying to find support at lower levels but so far unable to find and breaching all supports.

Oh God crude again showed its volatility & bulls were unable to hold at higher levels and was unable to break its previous high of 2698 and fell badly after making a high of 2690.Looks like this time it should crack more....A great battle between bulls & bears going on...Lets see who wins...

Natural Gas still weak & yesterday given nice intraday gains.

Aluminium Flag & Pole Breakout

Please find attached the Flag n Pole Breakout on Aluminium.

It was a BO above 71.5 and today we have seen 74.05 ..more to come...

Zinc Cup & Handle Breakout

Here is the chart of Zinc Cup & Handle Breakout. What a beautiful formation has happened & after the BO it has taken the support at the Handle trendline & blasted as expected. I had given the hint long time back that this BO has happened and it can blast anytime.

Already got 3+ Rs in it and more to come..

Blue line is the long term TL and some selling can be seen only on the breach of this on closing basis............Watch out !!!

Market View 6th April

All base metals looks bullish. Can be bought on dips. We are long in positional buy in Copper & Zinc. 2 targets in Copper & 3 targets in Zinc already met. More to come.

Gold & Silver have entered weak zone and should be sold on every rise.

Crude also after being highly volatile last week looks good to buy now.

Natural Gas so far still looks weak and can be short on rise.

3rd April Calls

Positional Buy Copper abv 211.50 SL 204 TGT 216/221/226/232/237 => TGT1 and TGT2 met intraday only.

Short Crude below 2680 SL 2710 TGT 2650/2620/2590 => All target met

Buy Nickel abv 530.45 SL 522.2 TGT 536/542/548 => TGT3 missed with 10 paisa

Market view 3rd April

Read my comments on 30th March on Gold & Silver -
"Gold & Silver are still weak and can show some more selling this week. Watch out 22250 for Silver and 15200 for Gold as immediate resistances"
They only went above these levels once and ever since they are falling below these levels. Yesterday witnessed huge selling in both these counters.

Nickel after consolidating for long time in a narrow range looks positive now & can show a good up momemtum now.

In Zinc good buying seen at lower levels & as expected showed some momemtum yesterday. A nice BO is on cards.

Natural Gas is still weak and sell on rise.

In Crude some buying emerged from lower levels and it gave handsome profits intraday yerterday above 2471 levels yesterday.

Copper H&S failed as it broke the previous high of 209.45. Its in uptrend so buy on dips & short only on the breach of the lower TL. This week's support is at 204.5

1st April Calls

Short Aluminium below 70.90 SL 71.6 TGT 70.2/69.8/69.3/68.6 = All target met
Short Copper below 209 SL 211.3 TGT 206/203/201 = 2 target met & trailing SL hit
Short Natural Gas between 192-193 SL 196.25 TGT 190/188/186 = All target met
Buy Zinc abv 65.7 SL 65.2 TGT 66.2/66.7/67.2/67.7 = SL hit after making a high of 66.15 :(

Market View for 2nd April

As mentioned yesterday all commodities behaved as expected. Be it Crude, Aluminium, Copper or Natural Gas. There is not major change in any of these so will stick to the same plan for today as well.

Crude Rising Wedge

Crude had a nice support around 2545 levels & once that is broken it has become more prone to fall. It has also broken the lower TL of a rising wedge which makes it more weak. Yesterday also it tried to break 2545 & failed miserably.

Market View for 1st April

Gold & Silver inspite of being highly volatile are losing their strength and are prone to fall more. Sell them near their resistances.

Crude has shown significant weakness in past few days. After breaking the support zone of 2545 its falling more than 100 points in a single day. Also it has broken the lower TL in rising wedge which is even a bearish signal. I would say it has taken a U turn now.

Aluminium also looks a little weak now. A clear picture would be unfolded soon.

Zinc has given a nice CNH BO but it is yet to blast.

In Copper H&S is forming. Although its in strong uptrend but risky players can enter shorts around 209 levels with 211.3 SL otherwise wait for the formation to complete & enter shorts below 200 levels for targets of 196/192.

Natural Gas is still weak and can be sold on rise.