MCX METALS AND
ENERGIES WEEKLY TECHNICAL REPORT
Zinc
31st August 2018: (previous day close/CMP Rs.176.40)
Support: 165.70-168.20-172.30-173.80-174.30
Resistance:
179.80-183.10-185.30-187.10-191.10
o
100 week moving average at 191.10 is the key long term
resistance.
o
Zinc can rise to 191.10 in short term as long as it
trades over 170.70.
o
Immediate support is at 174.30 with 170.40 as key
short term support.
o
Small sell off will be there below 174.30.
o
Remain on the sidelines this week
Natural
gas 28th August 18 (previous day close/CMP Rs.203.20):
Support: 186.30-190.30-194.70-199.20
Resistance:
205.30-207.70-212.20-214.80-218.50
o
100 week moving average at 197.10 is the key support.
o
NG needs to trade over 197.10 to rise to 212.20 and
218.50.
o
Corrections upto 191.50 are a part of the bullish
trend.
o
Small sell off will be there below 197.10.
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FULL REPORT U NEED TO PAY OR SUBSCRIBE
NIFTY WEEKLY TECHNICAL
REPORT
Current
Level: 11353.85
Support:
11146.10-11193.10-11301.20
Resistance:
11363.20-11401.30-11460.70-11495.70-11561.10
· Key weekly support is
at 11301.20. There will be another wave of sell off below 11301.20 to 11193.10
and 11086.60.
· Nifty needs to trade
over 11363 till tomorrow to be in bullish zone.
· Intraday volatility
will be very high.
FII
inflows continue to be very high. India is getting the benefit of safe haven
among emerging nations. There is political stability. Our foreign exchange
reserves are high enough to sustain a global shock. In comparison to
competitive emerging market nations, India is way better to off despite high
budget imbalances. Indian stock markets at the moment is a safe haven for
global investors. There will be sharp corrections if and when Turkey and other
issues settle down.
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