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April 15, 2013 4:30 pm IST

Punters Call

Copper (Comex): Standing on a diving board

Copper formed a large triangle where the last leg made a throw over of the pattern. The triangle has been formed in the right shoulder of a larger Head & Shoulders pattern. Thus, the red metal seems to be in for a significant decline. The weekly momentum indicator is in a bearish mode. Copper has broken the lower end of the triangular pattern and has reached the neckline. From a medium-term perspective, copper can target the previous low of $2.994 and the equality target, ie $2.58. On the flip side, the swing high of $3.576 will act as a strong resistance.

Copper
KST (-5.52956) 15 10 5 0 -5 -10 -15

HG COPPER CONTINUOUS 25000 LBS [COMEX] (3.34150, 3.45250, 3.32700, 3.35000, +0.00600) 4.9 4.8 4.7 4.6 4.5 4.4 4.3 4.2 4.1 4.0 3.9 3.8 3.7 3.6 3.5 3.4 3.3 3.2 3.1

3.576

2.994

3.0 2.9 2.8 2.7

2.58
S O N D 2011 M A M J J A S O N D 2012 M A M J J A S O N D 2013 M A M J

2.6

Momentum Calls
Date
4-Apr-13

Recommendation
Buy USDINR

Stop loss/ Reversal (on closing basis) (Rs)

54.19

Price (Rs)
54.52

LTP (Rs)
54.63

Potential P/L at CMP (%)

0.20

Targets (Rs)
55.30-55.65

HCL: Hourly closing basis / DCL: Daily closing basis / FMCL: Fifteen minute closing basis / TPB: trailing profit booked Note: calls are indicative and for record and have been initiated intra-day in the last 24 hours.

For Private Circulation only

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Looking Trendy

Short Term Trend

Target Gold MCX Silver MCX Crude MCX Copper MCX Zinc MCX Nickel MCX 11000 25500.00 19000 43000.00 4600 4760.00 300 383.50 78 96.00 875 823.00 Trend Reversal 12700 28000.00 24650 48400.00 5150 4985.00 340 405.00 65 103.00 735 870.00 Support/Resistance Support / Resistance 10800 / 12700 25500/28000 20000 / 24650 43000/48400 4600 / 5150 4760/4985 300 / 340 383.50/405 65 / 78 96/103 735 / 875 823/870

Medium Term Trend

Target Gold Cash US $ Silver Cash US $ Crude US $ Copper $ (comex) Zinc MCX Nickel MCX 1340.00 21.00 84.00 2.940 86.00 800 Trend Reversal 1527.00 26.20 94.83 3.576 106.00 891 Support / Resistance 1340/1527 21/26.20 84/94.83 2.94 / 3.576 86/106 800/891

Icon guide
Up Down Sideways Downswing matures Upswing matures

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April 15, 2013

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Day Traders HIT List - Evening session For April 15, 2013
Instrument
Gold Cash USD ($) Gold MCX June Silver Cash USD ($) Silver MCX May Copper MCX Apr Zinc MCX Apr Nickel MCX Apr Aluminium MCX Apr Lead MCX Apr Crude Oil USD ($) Crude Oil MCX Apr Natural Gas MCX Apr

Support Levels S2 S1
1403.0 26000 23.10 43800 392.00 98.10 836.00 98.00 107.50 87.50 4800.00 228.50 1409.0 26400 23.55 44500 396.50 99.40 845.00 99.00 108.70 88.46 4847.00 231.90

LTP (Rs)
1417 26673 23.77 44900 398.8 99.8 848.7 99.50 109.25 88.81 4865 233.1

Resistance Levels R1 R2
1426 27082 24.08 45500 400.8 100.75 856.5 100.3 110.35 89.33 4900 234.8 1443.0 27389 24.53 46175 402.65 101.50 863.0 101.00 111.2 90.00 4930.0 237.0

Action
Sell below S1 Sell below S1 Sell below S1 Sell below S1 Sell below S1 Sell below S1 Sell below S1 Sell below S1 Sell below S1 Sell below S1 Sell below S1 Buy Above R1/Sell below S1

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