JULY 30 WEDNESDAY
SHORT TERM TREND : BULLISH: TARGET RS 98.60
LONG TERM TREND : BEARISH: TARGET RS 65
S1 RS 95.60, S2 RS 93.60, S3 RS 92
R1 RS 98.60, R2 RS 99.60, R3 RS 100.60
PREFER LONG AT RS 95.40 TO 95.60
STOP LOSS RS 93.60
TARGET RS 98.60
Lead gaing in LME trade .
Lead once again is the only base metal showing
signs of life , with prices ticking higher on Tuesday
on tightening inventory level, a trend Analyst feel
will continue.
Stocks fell by 1450 tonnes to 89275 tonnes,
with the decline largely in Singapore and also in
Long Beach.
This combined with recent production cuts at
higher cost operation and the likelihood more
may follow, have already lifted prices to a two month
high.
As of 0915 GMT, London Metal Exchange Lead
was trading at $ 2059 a tonne up 1.7 % from
Mondays low.
Wednesday, July 30, 2008
Tuesday, July 29, 2008
UPDATES ON JULY 29 2008
JULY 29 TUESDAY
SHORT TERM TREND : BULLISH: TARGET RS 98.20
LONG TERM TREND : BEARISH : TARGET RS 65
S1 RS 94.90, S2 RS 93.60, S3 RS 92
R1 RS 96.85, R2 RS 98.20 , R3 RS 100.30
PREFER LONG AT RS 95.40 TO 95.20
STOP LOSS RS 93.60
TARGET RS 98.20
Lead was up 0.2 % to tarde at $ 2165 per tonne.
Consumers and investors are in no rush to buy the
base metal on Monday and traders said the market is expected
to remain quiet in the absence of any fresh oil or gold
related drivers.
SHORT TERM TREND : BULLISH: TARGET RS 98.20
LONG TERM TREND : BEARISH : TARGET RS 65
S1 RS 94.90, S2 RS 93.60, S3 RS 92
R1 RS 96.85, R2 RS 98.20 , R3 RS 100.30
PREFER LONG AT RS 95.40 TO 95.20
STOP LOSS RS 93.60
TARGET RS 98.20
Lead was up 0.2 % to tarde at $ 2165 per tonne.
Consumers and investors are in no rush to buy the
base metal on Monday and traders said the market is expected
to remain quiet in the absence of any fresh oil or gold
related drivers.
Friday, July 25, 2008
UPDATES ON JULY 25 2008
JULY 25 FRIDAY
SHORT TERM TREND : SIDEWAYS: TARGET RS 90 TO 94
LONG TERM TREND : BEARISH : TARGET RS 65
S1 RS 90.30, S2 RS 88.60, S3 RS 87
R1 RS 94 , R2 RS 95.70, R3 RS 97.30
MARKET IS EXPECTED TO MOVE SIDEWAYS
Lead traded lower at $2,195 from $2,214.
SHORT TERM TREND : SIDEWAYS: TARGET RS 90 TO 94
LONG TERM TREND : BEARISH : TARGET RS 65
S1 RS 90.30, S2 RS 88.60, S3 RS 87
R1 RS 94 , R2 RS 95.70, R3 RS 97.30
MARKET IS EXPECTED TO MOVE SIDEWAYS
Lead traded lower at $2,195 from $2,214.
Thursday, July 24, 2008
UPDATES ON JULY 24 2008
JULY 24 THURSDAY
SHORT TERM TREND : BULLISH : TARGET RS 98.60
LONG TERM TREND : BEARISH : TARGET RS 65
S1 RS 93, S2 RS 91.40 , S3 RS 90
R1 RS 95.80, R2 RS 95.70, R3 RS 98.60
Lead increased $45, or 2.1 percent, to $2,185 a ton.
With Base metal volumes also thinned by the
seasonal slow down in trading activity , only
lead has shown any signs of life through the session.
But even this metal has slipped after an early
move to a 2 month high of $ 2195/ tonne , with
reports of cut to outpiu at China's biggest lead
producer being unfounded.
SHORT TERM TREND : BULLISH : TARGET RS 98.60
LONG TERM TREND : BEARISH : TARGET RS 65
S1 RS 93, S2 RS 91.40 , S3 RS 90
R1 RS 95.80, R2 RS 95.70, R3 RS 98.60
Lead increased $45, or 2.1 percent, to $2,185 a ton.
With Base metal volumes also thinned by the
seasonal slow down in trading activity , only
lead has shown any signs of life through the session.
But even this metal has slipped after an early
move to a 2 month high of $ 2195/ tonne , with
reports of cut to outpiu at China's biggest lead
producer being unfounded.
Wednesday, July 23, 2008
UPDATES ON JULY 23
JULY 23 WEDNESDAY
SHORT TERM TREND : BULLISH: TARGET RS 95.60
LONG TERM TREND : BEARISH : TARGET RS 65
S1 RS 90.40, S2 RS 88.20, S3 RS 86
R1 RS 93.60, R2 RS 95.60, R3 RS 97.60
PREFER INTRADAY LONG AT RS 91.60 TO 91.40
STOP LOSS RS 90
TARGET RS 93.60
Lead Climbs to 2-Month High in London as China Exports Slump .
Lead rose to a two-month high in London as exports from China,
the world's largest producer, slumped and metal stockpiles
dropped. Copper and zinc also rose.
Lead has advanced 19 percent this month, the best performer
on the London Metal Exchange, as China shipped 31,456
metric tons of refined lead overseas in the first half, an
80 percent decline from a year earlier, according to
customs data published today. Stockpiles tracked by
the London Metal Exchange have fallen 10 percent in
July to a five-week low.
``The lead market is quite tight in terms of inventories,''
Dan Smith, a metals analyst at Standard Chartered Plc in
London, said today by phone. Demand for the metal has
also held up well during the global economic slowdown, he said.
The contract for delivery in three months rose $87, or 4.2 percent,
to $2,137 a ton as of 12:17 p.m. local time, paring this year's loss
to 16 percent. That was also the highest intraday price since May 22.
Investors and traders are increasing bets on price gains as open
interest, or the number of outstanding contracts, has soared
17 percent this month, touching a record of 87,890 contracts
July 17. The metal was in an oversupply of 11,000 tons in the
first five months of the year, according to the Ware,
England-based World Bureau of Metal Statistics.
China's lead exports declined after the nation imposed an
export tax in June 2007. Boliden AB said yesterday
production of lead and zinc at its Tara mine in Ireland will
extend decline in six to nine months.
SHORT TERM TREND : BULLISH: TARGET RS 95.60
LONG TERM TREND : BEARISH : TARGET RS 65
S1 RS 90.40, S2 RS 88.20, S3 RS 86
R1 RS 93.60, R2 RS 95.60, R3 RS 97.60
PREFER INTRADAY LONG AT RS 91.60 TO 91.40
STOP LOSS RS 90
TARGET RS 93.60
Lead Climbs to 2-Month High in London as China Exports Slump .
Lead rose to a two-month high in London as exports from China,
the world's largest producer, slumped and metal stockpiles
dropped. Copper and zinc also rose.
Lead has advanced 19 percent this month, the best performer
on the London Metal Exchange, as China shipped 31,456
metric tons of refined lead overseas in the first half, an
80 percent decline from a year earlier, according to
customs data published today. Stockpiles tracked by
the London Metal Exchange have fallen 10 percent in
July to a five-week low.
``The lead market is quite tight in terms of inventories,''
Dan Smith, a metals analyst at Standard Chartered Plc in
London, said today by phone. Demand for the metal has
also held up well during the global economic slowdown, he said.
The contract for delivery in three months rose $87, or 4.2 percent,
to $2,137 a ton as of 12:17 p.m. local time, paring this year's loss
to 16 percent. That was also the highest intraday price since May 22.
Investors and traders are increasing bets on price gains as open
interest, or the number of outstanding contracts, has soared
17 percent this month, touching a record of 87,890 contracts
July 17. The metal was in an oversupply of 11,000 tons in the
first five months of the year, according to the Ware,
England-based World Bureau of Metal Statistics.
China's lead exports declined after the nation imposed an
export tax in June 2007. Boliden AB said yesterday
production of lead and zinc at its Tara mine in Ireland will
extend decline in six to nine months.
Tuesday, July 22, 2008
JULY 22 2008
JULY 22 TUESDAY
SHORT TERM TREND : BULLISH : TARGET RS 92
LONG TERM TREND : BEARISH TARGET RS 65
S1 RS 86.70, S2 RS 85.20 , S3 RS 84
R1 RS 90.10, R2 RS 91.80, R3 RS 93.60
PREFER INTRA DAY LONG AT RS 87 TO 86.70
STOP LOSS RS 85.20
TARGET RS 90.10
At 0927 GMT LME L ead was trading at $ 2040 a tonne
up 2.5 &.
Lehman Brothers have released new metal forecast
lowering its 2008 average price outlook for lead.
SHORT TERM TREND : BULLISH : TARGET RS 92
LONG TERM TREND : BEARISH TARGET RS 65
S1 RS 86.70, S2 RS 85.20 , S3 RS 84
R1 RS 90.10, R2 RS 91.80, R3 RS 93.60
PREFER INTRA DAY LONG AT RS 87 TO 86.70
STOP LOSS RS 85.20
TARGET RS 90.10
At 0927 GMT LME L ead was trading at $ 2040 a tonne
up 2.5 &.
Lehman Brothers have released new metal forecast
lowering its 2008 average price outlook for lead.
Friday, July 18, 2008
JULY 18 2008
JULY 18 FRIDAY
SHORT TERM TREND : SIDEWAYS : TARGET RS 82 TO 86.80
LONG TERM TREND : BEARISH : TARGET RS 65
S1 RS 83.50, S2 RS 81.60, S3 RS 79.80
R1 RS 84.80, R2 RS 86.80, R3 RS 88.20
MARKET IS EXPECTED TO MOVE SIDEWAYS.
At 1112 GMT ,Lead fell to $ 1925 a tonne down
$ 35 but still within the prior sessions range.
SHORT TERM TREND : SIDEWAYS : TARGET RS 82 TO 86.80
LONG TERM TREND : BEARISH : TARGET RS 65
S1 RS 83.50, S2 RS 81.60, S3 RS 79.80
R1 RS 84.80, R2 RS 86.80, R3 RS 88.20
MARKET IS EXPECTED TO MOVE SIDEWAYS.
At 1112 GMT ,Lead fell to $ 1925 a tonne down
$ 35 but still within the prior sessions range.
Wednesday, July 16, 2008
UPDATES ON JULY 16 2008
JULY 16 WEDNESDAY
SHORT TERM TREND : SIDEWAYS : TARGET RS 83.50 TO 89
LONG TERM TREND : BEARISH : TARGET RS 65
S1 RS 83.60, S2 RS 82, S3 RS 80.40
R1 RS 87.40, R2 RS 89, R3 RS 91.60
MARKET IS EXPECTED TO MOVE SIDEWAYS.
LME Lead was modestly higher up $ 10 at
$ 1975 a tonne.
London Metal Exchange metals are under pinned by
record Dollar weakness on Tuesday and are keeping
a sharp eye on all matters related to the U.S financial
markets against the background of a potential melt
down , said Analyst and Traders.
SHORT TERM TREND : SIDEWAYS : TARGET RS 83.50 TO 89
LONG TERM TREND : BEARISH : TARGET RS 65
S1 RS 83.60, S2 RS 82, S3 RS 80.40
R1 RS 87.40, R2 RS 89, R3 RS 91.60
MARKET IS EXPECTED TO MOVE SIDEWAYS.
LME Lead was modestly higher up $ 10 at
$ 1975 a tonne.
London Metal Exchange metals are under pinned by
record Dollar weakness on Tuesday and are keeping
a sharp eye on all matters related to the U.S financial
markets against the background of a potential melt
down , said Analyst and Traders.
Tuesday, July 15, 2008
UPDATES ON JULY 15 2008
JULY 15 TUESDAY
SHORT TERM TREND : SIDEWAYS: TARGET RS 83.50 TO 89
LONG TERM TREND : BEARISH: TARGET RS 65
S1 RS 83.60, S2 RS 82, S3 RS 80.40
R1 RS 87, R2 RS 89, R3 RS 91.60
MARKET IS EXPECTED TO MOVE SIDEWAYS.
Lead soared in the morning hours but came off sharply
thereafter, winding up with a gain of only a half-cent,
at $0.8014/lb.
LME Lead inventories fell by 3 per cent to
95,775 tonnes.
SHORT TERM TREND : SIDEWAYS: TARGET RS 83.50 TO 89
LONG TERM TREND : BEARISH: TARGET RS 65
S1 RS 83.60, S2 RS 82, S3 RS 80.40
R1 RS 87, R2 RS 89, R3 RS 91.60
MARKET IS EXPECTED TO MOVE SIDEWAYS.
Lead soared in the morning hours but came off sharply
thereafter, winding up with a gain of only a half-cent,
at $0.8014/lb.
LME Lead inventories fell by 3 per cent to
95,775 tonnes.
Friday, July 11, 2008
UPDATES ON JULY 11 2008
JULY 11 FRIDAY
SHORT TERM TREND : BULLISH: TARGET RS 87
LONG TERM TREND : BEARISH: TARGET RS 65
S1 RS 82.20, S2 RS 80.60, S3 RS 79
R1 RS 85, R2 RS 88, R3 RS 88.40
PREFER LONG AT RS 83 TO 83.10
STOP LOSS RS 82
TARGET RS 85
Lead fell 1.9 percent to $1,946 a ton.
SHORT TERM TREND : BULLISH: TARGET RS 87
LONG TERM TREND : BEARISH: TARGET RS 65
S1 RS 82.20, S2 RS 80.60, S3 RS 79
R1 RS 85, R2 RS 88, R3 RS 88.40
PREFER LONG AT RS 83 TO 83.10
STOP LOSS RS 82
TARGET RS 85
Lead fell 1.9 percent to $1,946 a ton.
Thursday, July 10, 2008
UPDATES ON JULY 10 2008
JULY 10 THURSDAY
SHORT TERM TREND : BULLISH: TARGET RS 82.30
LONG TERM TREND : BEARISH: TARGET RS 65
S1 RS 75.60, S2 RS 74, S3 RS 72.40
R1 RS 78.50, R2 RS 80.20, R3 RS 82
MARKET IS EXPECTED TO MOVE SIDEWAYS TO HIGHER.
PRICES ARE TRADING NEAR INTRA DAY RESISTENCE.
WAIT FOR SUPPORT FOR FRESH ENTRIES.
Lead rally on short-covering.
Lead up 10.4 pct on short-covering.
Lead jumped 10.4 percent onWednesday on signs
London Metal Exchange stocks started to level off.
Lead for delivery in three months MPB3 hit an intraday
highof $1,800 per tonne just after it closed at $1,790, up
9.8percent, compared to $1,630 on Tuesday.
"Stocks appear to be levelling out after four months of
strong gains," said analyst David Thurtell at BNP Paribas.
"Cancelled warrants have jumped in recent days, which
suggeststhat the low prices of recent weeks has sparked
some significantofftake."
Lead prices have more than halved since early March
as LMEinventories have more than doubled due to
lack of demand.
There was also talk of supply disruptions in the UnitedStates.
"This triggered a little bit more interest in the market
and now several stops have been triggered," a trader said.
SHORT TERM TREND : BULLISH: TARGET RS 82.30
LONG TERM TREND : BEARISH: TARGET RS 65
S1 RS 75.60, S2 RS 74, S3 RS 72.40
R1 RS 78.50, R2 RS 80.20, R3 RS 82
MARKET IS EXPECTED TO MOVE SIDEWAYS TO HIGHER.
PRICES ARE TRADING NEAR INTRA DAY RESISTENCE.
WAIT FOR SUPPORT FOR FRESH ENTRIES.
Lead rally on short-covering.
Lead up 10.4 pct on short-covering.
Lead jumped 10.4 percent onWednesday on signs
London Metal Exchange stocks started to level off.
Lead for delivery in three months MPB3 hit an intraday
highof $1,800 per tonne just after it closed at $1,790, up
9.8percent, compared to $1,630 on Tuesday.
"Stocks appear to be levelling out after four months of
strong gains," said analyst David Thurtell at BNP Paribas.
"Cancelled warrants have jumped in recent days, which
suggeststhat the low prices of recent weeks has sparked
some significantofftake."
Lead prices have more than halved since early March
as LMEinventories have more than doubled due to
lack of demand.
There was also talk of supply disruptions in the UnitedStates.
"This triggered a little bit more interest in the market
and now several stops have been triggered," a trader said.
Wednesday, July 9, 2008
UPDATES ON JULY 9 2008
JULY 9 WEDNESDAY
SHORT TERM TREND :SIDEWAYS: TARGET RS 68 TO 73.80
LONG TERM TREND : BEARISH : TARGET RS 65
S1 RS 70.20, S2 RS 68.30, S3 RS 67
R1 RS 72.80, R2 RS 74, R3 RS 76.60
MARKET IS EXPECTED TO MOVE SIDEWAYS.
Lead fell to $ 1620/1626 a tonne from $ 1630
on Monday.
SHORT TERM TREND :SIDEWAYS: TARGET RS 68 TO 73.80
LONG TERM TREND : BEARISH : TARGET RS 65
S1 RS 70.20, S2 RS 68.30, S3 RS 67
R1 RS 72.80, R2 RS 74, R3 RS 76.60
MARKET IS EXPECTED TO MOVE SIDEWAYS.
Lead fell to $ 1620/1626 a tonne from $ 1630
on Monday.
Tuesday, July 8, 2008
UPDATES ON JULY 8 2008
JULY 8 TUESDAY
SHORT TERM TREND : SIDEWAYS: TARGET RS 69 TO 73
LONG TERM TREND : BEARISH: TARGET RS 65
S1 RS 69.60, S2 RS 68.20, S3 RS 67
R1 RS 71.80, R2 RS 73, R3 RS 74.60
MARKET IS EXPECTED TO MOVE SIDEWAYS
Lead gained to $ 1585 from $ 1565 a tonne on
late Mondays trading.
SHORT TERM TREND : SIDEWAYS: TARGET RS 69 TO 73
LONG TERM TREND : BEARISH: TARGET RS 65
S1 RS 69.60, S2 RS 68.20, S3 RS 67
R1 RS 71.80, R2 RS 73, R3 RS 74.60
MARKET IS EXPECTED TO MOVE SIDEWAYS
Lead gained to $ 1585 from $ 1565 a tonne on
late Mondays trading.
Friday, July 4, 2008
UPDATES ON JULY 4 2008
JULY 4 FRIDAY
SHORT TERM TREND : SIDEWAYS: TARGET RS 67 TO 71
LONG TERM TREND : BEARISH : TARGET RS 65
S1 RS 68, S2 RS 67, S3 RS 66
R1 RS 70.60, R2 RS 71.80, R3 RS 73
DUE TO THE ABSENCE OF INTERNETIONAL MARKET
TRADE IS EXPECTED TO BE RANGE BOUND.
LME Lead stocks rose by 25 tonnes to 100,500
and have more than doubled since January.
LME Lead fell nearly 5 % to a near 5 month low
of $ 1625 a tonne as investors worried about
over supply in the market and was at $ 1640/1660
a tonne versus $ 1705 on Wednesday.
SHORT TERM TREND : SIDEWAYS: TARGET RS 67 TO 71
LONG TERM TREND : BEARISH : TARGET RS 65
S1 RS 68, S2 RS 67, S3 RS 66
R1 RS 70.60, R2 RS 71.80, R3 RS 73
DUE TO THE ABSENCE OF INTERNETIONAL MARKET
TRADE IS EXPECTED TO BE RANGE BOUND.
LME Lead stocks rose by 25 tonnes to 100,500
and have more than doubled since January.
LME Lead fell nearly 5 % to a near 5 month low
of $ 1625 a tonne as investors worried about
over supply in the market and was at $ 1640/1660
a tonne versus $ 1705 on Wednesday.
Wednesday, July 2, 2008
JULY 2 2008
JULY 2 WEDNESDAY
SHORT TERM TREND : SIDEWAYS : TARGET RS 76 TO 79.80
LONG TERM TREND : BEARISH : TARGET RS 65
S1 RS 76, S2 RS 74.60, S3 RS 73
R1 RS 78.60, R2 RS 79.80, R3 RS 81
MARKET IS EXPECTED TO MOVE SIDEWAYS.
Lead edged up $ 1795/1805 versus $ 1790.
SHORT TERM TREND : SIDEWAYS : TARGET RS 76 TO 79.80
LONG TERM TREND : BEARISH : TARGET RS 65
S1 RS 76, S2 RS 74.60, S3 RS 73
R1 RS 78.60, R2 RS 79.80, R3 RS 81
MARKET IS EXPECTED TO MOVE SIDEWAYS.
Lead edged up $ 1795/1805 versus $ 1790.
Tuesday, July 1, 2008
JULY 1 2008
JULY 1 TUESDAY
SHORT TERM TREND : BEARISH: TARGET RS 76.40
LONG TERM TREND : BEARISH : TARGET RS 65
S1 RS 76, S2 RS 75, S3 RS 73.60
R1 RS 78.60, R2 RS 80.20, R3 RS 81.60
PREFER SHORTS AT RS 78.40 TO 78.60
STOP LOSS RS 80
TARGET RS 76
Lead was $ 45 lower at $ 1755/1775.
SHORT TERM TREND : BEARISH: TARGET RS 76.40
LONG TERM TREND : BEARISH : TARGET RS 65
S1 RS 76, S2 RS 75, S3 RS 73.60
R1 RS 78.60, R2 RS 80.20, R3 RS 81.60
PREFER SHORTS AT RS 78.40 TO 78.60
STOP LOSS RS 80
TARGET RS 76
Lead was $ 45 lower at $ 1755/1775.
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