Daily Commodity Reports

Copper

Thursday 10 October, 2024

Technical Outlook
Copper price markets following recent volatility reassessed the impact that Chinese stimulus will have on base metal demand in the near term. The current resistance level (R1) is at 841, and the support level (S1) is at 811

Research Report Call

Buy call -Buy above 829 for 831 -835 Keeping SL 827

Sell call- sell below 825 for 823- 820 Keeping SL 826

Copper Technical Chart

 

Validity

31/10/2024

Pivot

829.50

Buy Above

831.33

R1

833.85

R2

836.48

R3

841.18

Stop Loss

830.64

Pivot

829.50

(All values are in INR)

Sell Below

827.67

S1

825.15

S2

822.52

S3

817.82

Stop Loss

830.64

Crudeoil

Thursday 10 October, 2024

Technical Outlook

Crudeoil  after falling for two consecutive sessions, supported by concerns over potential supply risks. The current resistance level (R1) is placed at 6,324, and the support level (S1) is placed at 5910

Research Report Call

Buy call -Buy above 6170 for 6210 -6290 Keeping 6130

Sell call-Sell below 6097 for 6060 -6000 Keeping 6120

Crude Oil Technical Chart

 

Validity

21/10/2024

Pivot

6324.00

Buy Above

6360.48

R1

6410.64

R2

6463.08

R3

6556.56

Stop Loss

6346.80

Pivot

6324.00

(All values are in INR)

Sell Below

6287.52

S1

6237.36

S2

6184.92

S3

6091.44

Stop Loss

6346.80

Gold

Thursday 10 October, 2024

Technical Outlook

Gold prices had eased to its lowest level in nearly three weeks, weighed down by diminishing expectations that the Fed will implement more aggressive policy actions.The current resistance level (R1) is at 75744, and the support level (S1) is at 74146

Research Report Call

Buy call -Buy above 75150 for 75230 - 75300 Keeping 75080

Sell call- sell below 74970 for 74880 -74700  Keeping 75000

Gold Technical Chart

Validity

05/12/2024

Pivot

75155.67

Buy Above

75260.63

R1

75404.95

R2

75555.83

R3

75824.79

Stop Loss

75221.27

Pivot

75155.67

(All values are in INR)

Sell Below

75050.71

S1

74906.39

S2

74755.51

S3

74486.55

Stop Loss

75221.27

Naturalgas

Thursday 10 October, 2024

Technical Outlook

Naturalgas forecasts for above-normal fall temperatures that curb nat-gas demand for heating are weighing on prices. The current resistance level (R1) is at 175, while the support level (S1) is at 156.

Research Report Call

Buy call -Buy above 225 for 227-281 Keeping SL 222

Sell call- sell below 221 for 218-215 Keeping SL 223

Natural Gas Technical Chart

 

Validity

28/10/2024

Pivot

223.07

Buy Above

224.49

R1

226.45

R2

228.50

R3

232.14

Stop Loss

223.96

Pivot

223.07

(All values are in INR)

Sell Below

221.64

S1

219.68

S2

217.64

S3

213.99

Stop Loss

223.96

Silver

Thursday 10 October, 2024

Technical Outlook
Currently showing positive momentum, with higher levels reflecting increased buying interest. The current resistance level (R1) is at 90537, and the support level (S1) is at 87449

Research Report Call

Buy call -Buy above 89227  for 89320 - 89450 Keeping 89160

Sell call- sell below 89000 for 88980 - 88870 Keeping 89100

Silver Technical Chart

 

Validity

05/12/2024

Pivot

89853.67

Buy Above

90169.99

R1

90604.93

R2

91059.64

R3

91870.21

Stop Loss

90051.37

Pivot

89853.67

(All values are in INR)

Sell Below

89537.35

S1

89102.41

S2

88647.70

S3

87837.13

Stop Loss

90051.37

Zinc

Thursday 10 October, 2024

Technical Outlook

 Overall, a strong positive movement is being experienced at higher levels. The current resistance (R1) is placed at 281, and the support (S1) is placed at 271.

Research Report Call

Buy call -Buy above 278 for 280- 282 Keeping SL 276

 Sell call- sell below 277 for 275 -273 Keeping SL 278.60

Zinc Technical Chart

Validity

31/10/2024

Pivot

280.63

Buy Above

281.73

R1

283.24

R2

284.81

R3

287.62

Stop Loss

281.32

Pivot

280.63

(All values are in INR)

Sell Below

279.54

S1

278.03

S2

276.45

S3

273.65

Stop Loss

281.32

Note: Above information is not recommending any buy or sell position, this is for your reference only and trading or investment in commodities & derivatives is subject to market risk.

Disclaimer: Investment in securities/commodities market subject to market risk, read all the related documents carefully before investing/trading.

Analyst Certification: I/We, Ayushi Jain Research Analyst, authors, and the name subscribed to this report, hereby certify that all the views expressed in this research report accurately reflect our views about the subject issuer(s) or securities. We also certify that no part of our compensation was, is, or will be directly or indirectly related to the specific recommendation(s) or view(s) in this report. NISM Research Analyst registration number – NISM-201900015194.

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