MCX ZINC JANUARY: On Friday, zinc prices reclaimed higher after testing the trend line support of 217 and surge till the high of 221.50 and finally ended at 219. The price once again settled above the previous high of 218.80. Ahead, it is likely to extend further till 223 then 225 levels. Thus, we recommend buying around 219 for above mentioned targets of 223 for the day. Action: Buy
MCX ALUMINIUM JANUARY: After opening at 142.85 aluminum prices rose till the high of 144.90 and in the second half it erased all the gains and finally ended near the day low of 141.75. Prices have come down till the cross over support and ahead it is likely to revert back towards the immediate highs of 145.90. Hence, traders can initiate long positions around 141.20 for immediate targets of 144 then 145. Action: Buy
MCX MENTHA OIL JANUARY: After prior sessions massive fall the mentha oil prices opened marginally higher at 1535 and thereafter it remained on sideways note and finally ended at 1543. On the daily chart, it is moving within the wedge formation and on Friday it ended with a positive Doji. Ahead, the prices are likely to rebound till the upper band trend line resistance of 1625 levels in coming session. Thus, for the day we recommend buying around 1542 with strict sl at 1515 for upside targets of 1595 then 1610 levels. Action: Buy
MCX CPO JANUARY: For last few sessions the CPO January contract prices has been continuously sliding lower from the high of 567 and during Friday it almost declined till the trend line support and finally ended at 552.50 forming Doji candlestick. Since the price has almost come down till the supports we expect it to re-bounce in coming sessions for upside targets of 560 then 565 levels. Action: Buy.
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