Commodity Market Fundamental Review 05th Oct.

News Highlight US GOLD NEAR RECORD HIGHS, EYES FRESH DOLLAR WEAKNESS. US OIL BREAKS $ 81 LEVEL; ON MORE THEN 2 MONTHS HIGH. US COPPER RALLY STALLS AS DOLLAR REBOUNDS, STOCKS RISE. INDIAN PEPPER FALLS ON SLUGGISH EXPORTS; TURMERIC UP. Fundamental Review US GOLD FIRMED ON MONDAY, SUPPORTED NEAR RECORD HIGHS AS INVESTORS CONTINUED TO FRET ABOUT THE OUTLOOK FOR THE DOLLAR AMID SPECULATION OF FURTHER U.S. MONETARY EASING, BUT WITH A RECOVERY IN THE UNIT KEEEING A LID ON GAINS. US COPPER STEADIED ON MONDAY, AFTER TOUCHING A MORE THAN TWO-YEAR PEAK IN THE PREVIOUS SESSION, AS TRADERS WEIGHED A RECOVERY IN THE DOLLAR AND AN INCREASE IN INVENTORIES AGAINST TIGHTENING SUPPLY-DEMAND BALANCES.

Nifty Future for Intraday

For intraday we recommend buying at lower levels till it manages to hold 6095 levels.

 

Nifty future as mentioned earlier faced strong resistance near 6245-6250 zone, and resulted in a sell off from this zone. Now on the downside first support is at 6140 and 6095 level and on the upside resistance is at 6220 and 6250 levels. Nifty future has closed near the days low and some more sell off may be expected in coming sessions but till it manages to close above 6095 chances of strong pull backs cannot be negated. 

 

Bank Nifty Future Tips for 05th October

Bank nifty future as mentioned earlier faced strong resistance near 12750-12790 zone, and resulted in a sell off from this zone. Now on the downside first support is at 12620 and 12525 level and on the upside resistance is at 12750 and 12850 levels. Bank nifty future has closed near the days low and some more sell off may be expected in coming sessions but till it manages to close above 12450 chances of strong pull backs cannot be negated. For intra day we recommend buying at lower levels till it manages to hold 12450 levels.

Commodity News: US Gold, China Data and Indian Pepper

Fundamental Review

US Gold hit record highs for a sixth successive session on friday as the dollar fell to a six-month low against the euro, with expectations for further u.s. monetary easing driving strong demand for the precious metal. Copper rallied on friday to its highest in more than two years as strong manufacturing data from china, the world's largest consumer of industrial metals, boosted demand expectations.

News Highlight

• US Gold at record for sixth day; U.S. policy in focus.
• Oil jumps to $81, dollar, China data support.
• China data cheers US Copper to two-year high.
• Indian Pepper Futures end off lows; outlook weak.

Nifty and Bank Nifty Futures Technical Levels

Nifty Futures Technical Levels

Nifty future had formed a good support near 5940 levels and has closed on a very strong note on Friday's session above 6150 levels and looking technically strong for more fresh up moves. The next technical resistance for nifty future seems close to the level of 6205 and 6245 levels. decisive closing above this resistance zone may take up nifty future to the levels of 6292/6336 in near future. Strong support for nifty future is at 5940. Decisive closing below this support zone may take it to levels of 5895 to 5900 in near run. 

Bank Nifty Futures Technical Levels

Bank nifty future has closed on a very strong note again on the last trading session and is still looking to move ahead for more gains in coming week. Support for bank nifty future is at 12399-12350 levels. Technically looking for more gains from here. The next technical resistance for bank nifty future seems close to the zone of 12680 and 12750 levels. Decisive closing above this resistance zone may take up it till the level of 12950 in near future. Decisive closing below 12350 may drag it down to the levels of 12200/12050 in near future.