LEAD UPDATE
LEAD FELL TO $ 1990 A TONNE FROM $ 2040 ON
PROFIT TAKING FOLLOWING 2 DAYS OF GAINS.
Saturday, August 30, 2008
Friday, August 29, 2008
UPDATES ON AUG 29 2008
AUG 29 FRIDAY
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
S1 RS 88.20 , S2 RS 85.80
R1 RS 90.60 , R2 RS 92.50
WAIT FOR CONFIRMATION
Lead gained for a second consecutive day
rising as much as 3.7 % to $ 2125 a tonne ,
its highest level since Aug 7.
Lead traded at $ 2074 versus Wednesdays's $ 2050.
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
S1 RS 88.20 , S2 RS 85.80
R1 RS 90.60 , R2 RS 92.50
WAIT FOR CONFIRMATION
Lead gained for a second consecutive day
rising as much as 3.7 % to $ 2125 a tonne ,
its highest level since Aug 7.
Lead traded at $ 2074 versus Wednesdays's $ 2050.
Thursday, August 28, 2008
UPDATES ON AUG 28 2008
AUG 28 THURSDAY
SHORT TERM TREND : BULLISH
LONG TERM TREND : BEARISH
S1 RS 88.70 , S2 RS 87.20
R1 RS 93, R2 RS 96.30
BUY AT DIPS.
Three month Lead rose 5.1 % to $ 1950 a tonne ,
a two week high as inventories in LME Warehouse
fell 3050 tonnes to 83375 tonnes the lowest
level since June 13.
The metal was last quoted at $ 1925 /1930
from Tuesdays close of $ 1855.
SHORT TERM TREND : BULLISH
LONG TERM TREND : BEARISH
S1 RS 88.70 , S2 RS 87.20
R1 RS 93, R2 RS 96.30
BUY AT DIPS.
Three month Lead rose 5.1 % to $ 1950 a tonne ,
a two week high as inventories in LME Warehouse
fell 3050 tonnes to 83375 tonnes the lowest
level since June 13.
The metal was last quoted at $ 1925 /1930
from Tuesdays close of $ 1855.
Wednesday, August 27, 2008
UPDATES ON AUG 27 2008
AUG 27 WEDNESDAY
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
SUPPORT 1 RS 79.80 , SUPPORT 2 RS 77.60
RESISTENCE 1 RS 82.70 , RESISTENCE 2 RS 84
SELL AT RS 82.50 TO 92.70
STOP LOSS RS 84
TARGET RS 79.80
Three-month lead fell to $1,855 from Friday's $1,885.
China's lead consumption growth may slow in
the second half of this year as weaker domestic
demand for electric bicycles offsets increased
export orders for car and truck batteries.
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
SUPPORT 1 RS 79.80 , SUPPORT 2 RS 77.60
RESISTENCE 1 RS 82.70 , RESISTENCE 2 RS 84
SELL AT RS 82.50 TO 92.70
STOP LOSS RS 84
TARGET RS 79.80
Three-month lead fell to $1,855 from Friday's $1,885.
China's lead consumption growth may slow in
the second half of this year as weaker domestic
demand for electric bicycles offsets increased
export orders for car and truck batteries.
Tuesday, August 26, 2008
LEAD UPDATE
MCX LEAD AUGUST
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
SUPPORT 1 : RS.82
SUPPORT 2 : RS.79.40
RESISTANCE 1 : RS 84.70
RESISTANCE 2 : RS 86.00
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEARISH
SUPPORT 1 : RS.82
SUPPORT 2 : RS.79.40
RESISTANCE 1 : RS 84.70
RESISTANCE 2 : RS 86.00
Saturday, August 23, 2008
UPDATES ON AUG 23 2008
AUG 23 SATURDAY
Lead hit $ 1932.5 the highest since Aug 11 -
before trading at $ 1900. On Thursday ,
it closed at $ 1905 after surging 8 %.
Lead hit $ 1932.5 the highest since Aug 11 -
before trading at $ 1900. On Thursday ,
it closed at $ 1905 after surging 8 %.
Friday, August 22, 2008
UPDATES ON AUG 22 2008
AUG 22 FRIDAY
SHORT TRM TREND : BULLISH
LONG TERM TREND : BEARISH
S1 RS 82.60 , S2 RS 81
R1 RS 85.30 , R2 RS 87
BUY AT RS 83.20 TO 83
STOP LOSS RS 81
TARGET RS 85.30
Lead jumped as high as 5.7 % to $1775
a tonne from $ 1750 a tonne.
SHORT TRM TREND : BULLISH
LONG TERM TREND : BEARISH
S1 RS 82.60 , S2 RS 81
R1 RS 85.30 , R2 RS 87
BUY AT RS 83.20 TO 83
STOP LOSS RS 81
TARGET RS 85.30
Lead jumped as high as 5.7 % to $1775
a tonne from $ 1750 a tonne.
Thursday, August 21, 2008
UPDATES ON AUG 21 2008
AUG 21 THURSDAY
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
S1 RS 76.40 , S2 RS 75
R1 RS 78.80, R2 RS 80.30
SELL AT RS 78.80 TO 79
STOP LOSS RS 80.30
TARGET RS 76.40
Lead also rallied in the previous session as available
stock in warehouse declined.
The metal mainly used in batteries traded at
$ 1770 against Tuesday's close of $ 1800.
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
S1 RS 76.40 , S2 RS 75
R1 RS 78.80, R2 RS 80.30
SELL AT RS 78.80 TO 79
STOP LOSS RS 80.30
TARGET RS 76.40
Lead also rallied in the previous session as available
stock in warehouse declined.
The metal mainly used in batteries traded at
$ 1770 against Tuesday's close of $ 1800.
Wednesday, August 20, 2008
UPDATES ON AUG 20 2008
AUG 20 WEDNESDAY
SHORT TERM TREND : BULLISH
LONG TERM TREND : BEARISH
S1 RS 78, S2 RS 76
R1 RS 80.40 , R2 RS 83
BUY AT 79.20 TO 79
STOP LOSS RS 77
TARGET RS 83
Lead added $64, or 3.8 percent, to $1,759 a ton after LME-
tracked stockpiles earmarked for withdrawal jumped 11
percent to 14,150 tons, the highest since July 2006.
That accounts for 16 percent of total exchange
inventories. Most of the increase was in Singapore,
traditionally a location for deliveries into China.
Lead has dropped 31 percent this year, the most
among all LME metals.
SHORT TERM TREND : BULLISH
LONG TERM TREND : BEARISH
S1 RS 78, S2 RS 76
R1 RS 80.40 , R2 RS 83
BUY AT 79.20 TO 79
STOP LOSS RS 77
TARGET RS 83
Lead added $64, or 3.8 percent, to $1,759 a ton after LME-
tracked stockpiles earmarked for withdrawal jumped 11
percent to 14,150 tons, the highest since July 2006.
That accounts for 16 percent of total exchange
inventories. Most of the increase was in Singapore,
traditionally a location for deliveries into China.
Lead has dropped 31 percent this year, the most
among all LME metals.
Tuesday, August 19, 2008
PDATES ON AUG 19 2008
AUG 19 TUESDAY
SHORT TERM TREND : BEARISH
LONG TERM TREND : SIDEWAYS
S1 RS 74 , S2 RS 72
R1 RS 76.80, R2 RS 78
WAIT FOR CONFIRMATION
Lead rose by $ 20 to $ 1690/1700 a tonne.
SHORT TERM TREND : BEARISH
LONG TERM TREND : SIDEWAYS
S1 RS 74 , S2 RS 72
R1 RS 76.80, R2 RS 78
WAIT FOR CONFIRMATION
Lead rose by $ 20 to $ 1690/1700 a tonne.
Thursday, August 14, 2008
UPDATES ON AUG 14 2008
AUG 14 THURSDAY
SHORT TERM TREND : SIDEWAYS : TARGET RS 72 TO 76
LONG TERM TREND : BEARISH : TARGET RS 65
S1 RS 72 , S2 RS 70.60 , S3 RS 69.20
R1 RS 74.80 , R2 RS 76 , R3 RS 77.40
MARKET IS EXPECTED TO MOVE SIDEWAYS.
LME Lead bounced to an intra day high of $ 1790 ,
up 2.9 % , as a weaker dollar and bargain hunting
supported.
SHORT TERM TREND : SIDEWAYS : TARGET RS 72 TO 76
LONG TERM TREND : BEARISH : TARGET RS 65
S1 RS 72 , S2 RS 70.60 , S3 RS 69.20
R1 RS 74.80 , R2 RS 76 , R3 RS 77.40
MARKET IS EXPECTED TO MOVE SIDEWAYS.
LME Lead bounced to an intra day high of $ 1790 ,
up 2.9 % , as a weaker dollar and bargain hunting
supported.
Wednesday, August 13, 2008
UPDATES ON AUG 13 2008
AUG 13 WEDNESDAY
SHORT TERM TREND : BEARISH : TARGET RS 71
LONG TERM TREND : BEARISH : TARGET RS 65
S1 RS 72.60 , S2 RS 71 , S3 RS 69.60
R1 RS 75.60 , R2 RS 77 , R3 RS 78.40
PREFER SHORT AT RS 75.40 TO 75.60
STOP LOSS RS 77
TARGET RS 72.60
Lead shed $ 35 to $ 1890 / 1895 per tonne.
SHORT TERM TREND : BEARISH : TARGET RS 71
LONG TERM TREND : BEARISH : TARGET RS 65
S1 RS 72.60 , S2 RS 71 , S3 RS 69.60
R1 RS 75.60 , R2 RS 77 , R3 RS 78.40
PREFER SHORT AT RS 75.40 TO 75.60
STOP LOSS RS 77
TARGET RS 72.60
Lead shed $ 35 to $ 1890 / 1895 per tonne.
Tuesday, August 12, 2008
UPDATES ON AUG 12 2008
AUG 12 TUESDAY
SHORT TERM TREND : BEARISH : TARGET RS 78
LONG TERM TREND : BEARISH : TARGET RS 65
S1 RS 80, S2 RS 78.40, S3 RS 77
R1 RS 82.40, R2 RS 84, R3 RS 85.60
PREFER SHORT AT RS 82.60 TO 82.40
STOP LOSS RS 84.30
TARGET RS 80
Battery material lead touched a four-week low of $1,905 a
tonne and was last at $1,910, down $74 .
SHORT TERM TREND : BEARISH : TARGET RS 78
LONG TERM TREND : BEARISH : TARGET RS 65
S1 RS 80, S2 RS 78.40, S3 RS 77
R1 RS 82.40, R2 RS 84, R3 RS 85.60
PREFER SHORT AT RS 82.60 TO 82.40
STOP LOSS RS 84.30
TARGET RS 80
Battery material lead touched a four-week low of $1,905 a
tonne and was last at $1,910, down $74 .
Monday, August 11, 2008
UPDATES ON AUG 11 2008
AUG 11 MONDAY
Lead tracked copper lower down 5.1 % to an intra
day low of $ 2015 before rallying to trade at $ 2027.
Base metals complex could be volatile this week.
Lead tracked copper lower down 5.1 % to an intra
day low of $ 2015 before rallying to trade at $ 2027.
Base metals complex could be volatile this week.
Friday, August 8, 2008
UPDATES ON AUG 8 2008
AUG 8 FRIDAY
SHORT TERM TREND : SIDEWAYS : TARGET RS 89 TO 94
LONG TERM TREND : BEARISH : TARGET RS 65
S1 RS 89.30, S2 RS 88, S3 RS 86.80
R1 RS 92.40, R2 RS 94, R3 RS 95.60
MARKET IS EXPECTED TO MOVE SIDEWAYS.
Lead was at $ 2095 a tonne from $ 2065.
SHORT TERM TREND : SIDEWAYS : TARGET RS 89 TO 94
LONG TERM TREND : BEARISH : TARGET RS 65
S1 RS 89.30, S2 RS 88, S3 RS 86.80
R1 RS 92.40, R2 RS 94, R3 RS 95.60
MARKET IS EXPECTED TO MOVE SIDEWAYS.
Lead was at $ 2095 a tonne from $ 2065.
Wednesday, August 6, 2008
UPDATES ON AUG 6 2008
AUG 6 WEDNESDAY
SHORT TERM TREND : SIDEWAYS : TARGET RS 84 TO 88
LONG TERM TREND : BEARISH : TARGET RS 65
S1 RS 85.30, S2 RS 84, S3 RS 82.40
R1 RS 87.40, R2 RS 88.60, R3 RS 90
MARKET IS EXPECTED TO MOVE SIDEWAYS.
Lead climbed to $2,015 a tonne from $2,000 on Monday
when it shed 6 percent. The battery material has been one of the
few metals to rally recentlyon the back of Chinese demand and
rising cancelled warrants -- material alreadyreserved.
Concerns about the macroeconomic outlook were also highlighted
by the decline in U.S. crude prices .
"What we are seeing is more of a nervousness across the whole
of commodities that hasn't left base metals untouched," said
Gayle Berry, analyst at Barclays Capital.
SHORT TERM TREND : SIDEWAYS : TARGET RS 84 TO 88
LONG TERM TREND : BEARISH : TARGET RS 65
S1 RS 85.30, S2 RS 84, S3 RS 82.40
R1 RS 87.40, R2 RS 88.60, R3 RS 90
MARKET IS EXPECTED TO MOVE SIDEWAYS.
Lead climbed to $2,015 a tonne from $2,000 on Monday
when it shed 6 percent. The battery material has been one of the
few metals to rally recentlyon the back of Chinese demand and
rising cancelled warrants -- material alreadyreserved.
Concerns about the macroeconomic outlook were also highlighted
by the decline in U.S. crude prices .
"What we are seeing is more of a nervousness across the whole
of commodities that hasn't left base metals untouched," said
Gayle Berry, analyst at Barclays Capital.
Tuesday, August 5, 2008
UPDATES ON AUG 5 2008
AUG 5 TUESDAY
SHORT TERM TREND : BEARISH : TARGET RS 83
LONG TERM TREND : BEARISH : TARGET RS 65
S1 RS 84.60.2 RS 83.10, S3 RS 81.60
R1 RS 87, R2 RS 88.30, R3 RS 89.60
PREFER SHORT AT RS 86.80 TO 87
STOP LOSS RS 88.30
TARGET RS 84.60
Lead was down 1.7 % at Rs 2090 a tonne.
Withthe base metals firmly in the grip of a summer
slow down , trading volumes are thin .Brokers said
that while this is leaving the market largely listless,
fresh fundamental news , particularly on the supply
side , would likely to stimulate a flurry of price action.
LME Lead stocks were up 1150 tonnes on Monday.
In the short term rising LME Stocks and slowing
activity during summer holiday period is making
it hard for the base metals not to drift further.
SHORT TERM TREND : BEARISH : TARGET RS 83
LONG TERM TREND : BEARISH : TARGET RS 65
S1 RS 84.60.2 RS 83.10, S3 RS 81.60
R1 RS 87, R2 RS 88.30, R3 RS 89.60
PREFER SHORT AT RS 86.80 TO 87
STOP LOSS RS 88.30
TARGET RS 84.60
Lead was down 1.7 % at Rs 2090 a tonne.
Withthe base metals firmly in the grip of a summer
slow down , trading volumes are thin .Brokers said
that while this is leaving the market largely listless,
fresh fundamental news , particularly on the supply
side , would likely to stimulate a flurry of price action.
LME Lead stocks were up 1150 tonnes on Monday.
In the short term rising LME Stocks and slowing
activity during summer holiday period is making
it hard for the base metals not to drift further.
Saturday, August 2, 2008
UPDATES ON AUG 2 2008
AUG 2 SATURDAY
SHORT TERM TREND : BEARISH: TARGET RS 91
LONG TERM TREND : BEARISH: TARGET RS 65
S1 RS 91.10, S2 RS 89.80, S3 RS 88.40
R1 RS 93.60, R2 RS 95, R3 RS 96.60
PREFER SHORT AT RS 93.60 TO 93.70
STOP LOSS RS 95
TARGET RS 91.50
Lead touched an intra-day low of $2,115 a tonne, down4.3 percent,
after a rise in LME stocks encouraged some investors to
book profits following strong gains over the past month.
Lead is up by 45 percent since the metal, mainly used in
batteries,touched this year's low at $1,531 on July 4.
Lead was last at $2,126 a tonne from $2,210 on Thursday.
Stocks at LME warehouses increased by 1,250 tonnes to
92,250,having fallen by almost 9 percent in July.
SHORT TERM TREND : BEARISH: TARGET RS 91
LONG TERM TREND : BEARISH: TARGET RS 65
S1 RS 91.10, S2 RS 89.80, S3 RS 88.40
R1 RS 93.60, R2 RS 95, R3 RS 96.60
PREFER SHORT AT RS 93.60 TO 93.70
STOP LOSS RS 95
TARGET RS 91.50
Lead touched an intra-day low of $2,115 a tonne, down4.3 percent,
after a rise in LME stocks encouraged some investors to
book profits following strong gains over the past month.
Lead is up by 45 percent since the metal, mainly used in
batteries,touched this year's low at $1,531 on July 4.
Lead was last at $2,126 a tonne from $2,210 on Thursday.
Stocks at LME warehouses increased by 1,250 tonnes to
92,250,having fallen by almost 9 percent in July.
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