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Buy MCX Aluminium: Price likely to head till the previous high of 171 - IndiaNotes.com
Buy MCX Aluminium: Price likely to head till the previous high of 171
Way2wealth | Published: 19 Jan, 2018  | Source : IndiaNotes.com

MCX LEAD JANUARY: After a long consolidation, Lead prices finally gave a breakout of ascending triangle and ended higher at 166.60. According to the pattern the upside targets are projected till 176 levels. However, in the short term we expect the price is likely head till the previous high of 171. Thus, we recommend buying around 166 for targets of 168 then 171. Action: Buy

 

MCX ALUMINIUM JANUARY: In line with expectation, aluminium prices surged higher on Thursday and rose till the high of 143.60 and ended at 143.30. The price has penetrated bullish the cup and handle pattern and is likely propel till the previous high of 146 then 148 levels. Thus, we continue to recommend buying around 142.80 for upside targets of 146 then 148 levels. Action: Buy


NCDEX SOY OIL FEBRUARY:
After quoting with the stiff range for last few sessions, the soy oil prices finally penetrated the trend line supports and came out the band during yesterday’s session and ended at 736. Oil price has given a bearish breakdown and it is likely correct till 730 then 724 levels. Therefore, traders can initiate shorts around 737 levels for the targets of 733 then 730 for the day. Action: Sell


NCDEX TURMERIC APRIL:
After previous session re-bounce from the trend line support the Turmeric prices remained subdued by moving in the range of 7502 -7640 levels. The prices are still holding above the trend line and as said the previous report the momentum indicator RSI are still indicating positive strength. Therefore, a re-bounce is likely to be seen in the coming sessions and thus we continue to advise buying around 7520 for upside targets of 7720 then 7820. Action: Buy.

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