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Enrich Commodities India Pvt.Ltd

Published on 20/09/2018 5:45:03 PM

Natural Gas

Technical outlook

Natural gas daily chart has formed “Ascending broadening wedge” pattern. The last session ended up bearish in trend after few positive rallies inside the channel. The market is expected to continue in bearish term, once the same breaks below a key support holding at 209. The downside rally could be testing all the way through 207-205 and furthermore levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish. The upside rally could test up to 214 level. Key resistance holds at 214..

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Enrich Commodities India Pvt.Ltd

Published on 20/09/2018 5:44:49 PM

Nickel

Technical outlook

Nickel daily chart has formed “Ascending broadening wedge” pattern. The last session ended up in bearish trend after retesting near the channel’s support slope line. The market is expected to continue on the bearish trend, testing all the way through 890-885 levels in the upcoming sessions. Alternatively, the market might have a chance to give a small correction over positive momentum. The correction rally could test around 910 levels. Key resistance holds at 915 and support at 885.

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Enrich Commodities India Pvt.Ltd

Published on 20/09/2018 5:44:34 PM

Silver

Technical outlook

MCX Silver futures technical chart has taken the formation of “Falling wedge” pattern in daily time frame. Last few sessions ended up bullish in trend near the channel’s resistance slope line, where the market is expected to continue on the same trend based on the price action. The continuation of the trend will be confirmed once the prices breaks above the key resistance zone holding near 37520. The positive rally could be extending all the way up to 37700-37800 and furthermore levels in the upcoming sessions. An alternative scenario indicates that if the key resistance holds strong then the market might retest the same and turn bearish. The downside rally could test up to 37200 levels. Key support holds at 37200.

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Enrich Commodities India Pvt.Ltd

Published on 20/09/2018 5:44:14 PM

Copper

Technical outlook

Copper daily chart has formed “Megaphone chart” pattern. The last session been in bearish trend after few positive rallies inside the channel. The market is expected to continue on bearish momentum, testing all the way through 435-432 levels in the upcoming sessions. Alternatively, if the market breaks above a key resistance holding at 445, then it might turn bullish once again. The upside rally could test 454 levels. Key support holds at 432.

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Enrich Commodities India Pvt.Ltd

Published on 20/09/2018 5:43:57 PM

Lead

Technical outlook

Lead daily chart has formed “Rectangle chart” pattern. The last session ended up bearish in trend after few positive rallies inside the channel. The market is expected to continue on the bearish momentum, once the same breaks below a key support holding at 145. The downside rally could be testing all the way through 143-141 levels in the upcoming sessions. Alternatively, if the key support holds strong then the market might retest the same and turn bullish. The upside rally could test up to 148-150 level. Key resistance holds at 150.

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Choice International Ltd

Published on 20/09/2018 5:24:43 PM

Buy GOLD @ 30620 SL 30540 TGT 30750

Enrich Commodities India Pvt.Ltd

Published on 20/09/2018 5:00:36 PM

GOLD

Technical outlook

MCX Gold futures technical chart has taken the formation of “Descending broadening wedge” pattern in daily time frame. Last session ended up bearish in trend after few positive rallies inside the channel, where the market is expected to continue on the same trend based on the price action. The continuation of the trend will be confirmed once the prices breaks below the key support zone holding near 30550. The negative rally could be extending all the way up to 30480-30400 and furthermore levels in the upcoming sessions. An alternative scenario indicates that if the key support zone holds strong then the market might have a chance to retest the same and turn bullish. The upside rally could test up to 30750 levels. Key resistance holds at 30750.

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Enrich Commodities India Pvt.Ltd

Published on 20/09/2018 4:59:42 PM

CRUDEOIL

Technical outlook

MCX Crude Oil futures technical chart has taken the formation of “Ascending broadening wedge” pattern in daily time frame. Previously few sessions ended up strongly bullish in trend after retesting an interim trend line inside the channel. As per the technical aspects, the market is expected to continue on the same trend. The continuation of the trend will be confirmed once the prices break above a key resistance holding at 5170. The positive rally could be testing all the way up to 5220-5250 levels in the upcoming sessions. An alternative scenario indicates that if the key resistance holds strong then the market might retest the same and turn bearish. Such reversal could test up to 5020 levels. Key support holds at 5020.

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Achiievers Equites Ltd

Published on 19/09/2018 6:41:10 PM

BUY COPPER NOV ABV 441.10 SL 438.50 TGT 444.50-446.50.CMP: 441.10.MCX

Mansukh Securities & Finance Ltd

Published on 19/09/2018 5:42:12 PM

SELL GOLD OCT MCX BELOW 30712 ( AVERAGE AROUND 30850-870) SL ABOVE 30925 TGT 30660-30570-30410

Plz refer disclaimer at www.moneysukh.com

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