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.
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