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December 24, 2013 4:30 pm IST

Punters Call

Copper takes a bullish stance

Copper has formed a multi-month channelised correction, which in terms of the price pattern has taken the form of a bullish flag pattern. In terms of the Fibonacci retracement, the correction found support at the 61.8% retracement mark. Recently the price has broken out from the bullish pattern. The short-term momentum indicators have turned bullish. Thus, the red metal looks set for the next leg on the upside, equality target for which is $3.55. The intermediate target will be the high of $3.388. The swings low of $3.21 will act as a strong support.

Copper
K S T (2 .0 6 8 5 7 ) 5

-5 H G C O P P E R C O N T I N U O U S 2 5 0 0 0 L B S [ C O M E X] (3 .3 0 0 0 0 , 3 . 3 1 7 5 0 , 3 .2 9 1 0 0 , 3 .3 0 8 0 0 , + 0 .0 1 2 5 0 )

3 .6 5 3 .6 0

3 .5 5

3 .5 5 3 .5 0 3 .4 5

0 .0 %

3 .3 8 8

3 .4 0 3 .3 5

2 3 .6 %

3 .3 0 3 .2 5

3 8 .2 %

3 .2 1
5 0 .0 % 6 1 .8 %

3 .2 0 3 .1 5 3 .1 0 3 .0 5 3 .0 0 2 .9 5 2 .9 0

1 0 0 .0 %

p ri l

May

J une

J u ly

Au g u s t

S e p te m b e r O c to b e r

N o ve m b e r

D e ce m b e r

20 14

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 27000 41000 6300 471.00 131.00 900.00 Trend Reversal 29000 45850 6050 452.00 125.00 870.00 Support/Resistance 27000/29000 41000/45850 6050/6300 452/471 125/131 870/900

Medium Term Trend

Target Gold Cash US $ Silver Cash US $ Crude US $ Copper $ (comex) Zinc MCX Nickel MCX 1295.00 21.30 104.50 3.550 131.00 920 Trend Reversal 1180.00 18.19 96.00 3.210 120.00 860 Support / Resistance 1180/1295 18.19/21.30 96/104.50 3.21/3.55 120/131 860/920

Icon guide
Up Down Sideways Downswing matures Upswing matures

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December 24, 2013

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Day Traders Hit List - Evening session For December 24, 2013
Instrument
Gold Cash USD ($) Gold MCX Feb Silver Cash USD ($) Silver MCX Mar Copper MCX Feb Zinc MCX Dec Nickel MCX Dec Aluminium MCX Dec Lead MCX Dec
x

Support Levels S2 S1
1180.0 28000 19.00 42700 454.00 127.40 867.00 105.50 135.90 98.50 6058.00 274.00 1195.0 28282 19.25 43566 457.80 128.30 875.00 106.40 136.60 98.64 6130.00 275.20

LTP (Rs)
1202 28340 19.36 43800 459 128.7 880.5 106.60 137.50 98.81 6147 276.6

Resistance Levels R1 R2
1207 28400 19.54 43910 462.5 129.3 885.0 107.20 137.80 99.40 6158 277.7 1220.0 28450 19.92 44014 467.00 130.60 889.0 108.00 139.50 100.96 6178.0 281.6

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

Crude Oil USD ($) Crude Oil MCX Jan Natural Gas MCX Dec

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