july 31

INFORMATION: COPPER support 273,resistance 282.SILVER support 21850,resistance 22410/22650. ZINC support 80.10,resistance 84.70/87.10.LEAD Support 86.30,Resistance 91.CRUDE support 3180,Resistance 3323/3378.

1. (10.41) Buy silver @ CMP,Target 22410,SL 21970.CMP 22250.

2. (10.48) Buy crude in small quantity with SL of 3245,Target of 3298/3325.Maintain strict stoploss.

3. (10.49) Remain buy in lead.As per our positional call our target is of 91.RISKY PLAYER can still buy with the SL of 87.30.

july 30

1. (10:32) Sell copper between 264.50-265. SL 266. TGT 262.40/261.20/259.60/258.70. Maintain strict stoploss.CMP 263.70.

2. (3:38) Buy Zinc @ CMP.Stoploss 78.20.Target 79.80/80.40/80.80. CMP 79.15.

3.(7:46) Buy silver @ CMP.SL 21975.Book profit Rs. 100 above.

4. (8:02) Buy Natural Gas on CMP(173.70) with strict stoloss of 168.Target Rs.5 up.

29 july

1. (10.18)Sell crude between 3245 - 3250. SL 3268. TGT 3203 / 3191. CMP - 3239. Risky player can sell it at CMP.

2. Nifty is moving in a range , having a strong resistance at 4610 and strong support at 4520.It will show 30 points move wherever it breaks.

3. (11.09): TRADING CALL: Sell lead between 84.50 - 84.60. SL 85.05, TGT 84.15 / 83.90. CMP - 84.45. Risky players can sell at CMP.

4. (11.17): Lead made the low of 84.05. 1st TGT complete. Call was initated at 84.45 (CMP).

5. (11.22): Lead made the low of 83.80. All TGT complete. Call was initated at 84.45. Book the profit.

6. (11.40): Sell NIFTY between 4555 - 4550. TGT 4521. SL 4576 CMP - 4545. Risky player can sell at CMP

7. (11.47): NIFTY made the low of 4521.20. 1st TGT complete. Call was initiated at 4545(CMP). Now trail ur SL to 4572.

8. (11.52):NIFTY made the low of 4505.We said in morning that if it wil break the support of 4520,then 30 point movement can be seen.TGT - 4490.

9. (11.55): NIFTY made the low of 4460. All TGT complete. Call was initated at 4520.

10. (12.15): Now trail ur SL from 3268 to 3221 and remain sell in CRUDE for the TGT of 3185.

11. (12.58) Buy silver in small quantity at CMP with SL of 22135, TGT 22280 / 22335. CMP - 22210.

12. (1.08): NIFTY call activated 4445. CMP - 4467. Book 50% profit.

13. (2.08): Sell NIFTY @CMP - 4505, TGT - 4475/4460. SL - 4548.

14. (7:26)Sell Zinc between 78.80-78.90.Stoploss 79.30.Target 78.40/78.20/77.90.

Copper weekly outlook

Fundamental Outlook

Copper is in bullish trend since last 4-5 months. It is expected to show the same rally for next few months too. This increase in prices of the copper is because of the increase in demand of the copper worldwide. Economies which were affected by the recession are also showing improvement. Moreover, government is also taking up lots of developmental projects nationwide which will leads to increase in its consumption.

Technical Outlook

On the technical front, various reasons which are supporting the increase in the prices of copper can be categories into 3 groups (based on the time duration). They are:

Monthly view:

1. Monthly charts have important trend lines as major SUPPORT and RESISTENCE.

2. MACD is showing a positive crossover in negative zone.

3. Copper had already recovered more than 50% since its drop from last year July to December, but this recovery can be seen up to 293 which is 61.8% of the retracement.

4. Copper is having strong support at 233 and strong resistance at 292 level.

Copper monthly chart

can be seen up to 293 which is 61.8% of the retracement.

5. Copper is having strong support at 233 and strong resistance at 292 level.

Weekly view:

1. Copper had made the cup and handle pattern (which is a continuation pattern) in weekly charts. This gives the Target of 350, if it takes the support of the neckline (which is placed at 243 level). However it might take almost 6 months to reach and this phase and it might happen in phases.

2. Retracement gives the TGT of 298 (61.8% retracement).

3. It is having a strong support around 237(38.2% of the retracement).200 days EMA is also placed at the same level. On the closer side, it is having a trend line support at 260.

Copper weekly chart

Daily charts:

1. RSI is in overbought zone running around 73. However history shows that copper had shows ample amount of bullishness even though it RSI has been in over bought zone. It had even touched the level of 90+.

2. MACD is running positive. It had positive crossover in positive zone around a week back.

3. 55 & 400 days EMA have positive crossover while 200 EMA is moving much below them and the prices

4. It is moving in channel having resistance around 280 and support at 245.

5. Retracement gives us the TGT of 291 and support at 262.

Copper daily chart

Seeing the above data and the economical developments, it can be predicted that copper can be in bullish trend for the next few months. Important supports and resistance are:

Copper support: 268 / 262 / 237

Copper resistence: 272 / 292 / 298

Have a Great Trading Day.

Vikas Gupta

Team Profit King Researcher

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