Pritam Kumar Patnaik
MCX Argent December Futures Circadian chart:
Silver prices accept been affective in a alliance approach afterwards the aciculate acceleration witnessed from the low of Rs 36,423 akin fabricated in the ages of August 2018.
It seems that prices are digesting the above-mentioned assets which is a absolute assurance over a term.
MACD (moving boilerplate aggregation and alteration indicator) has connected to appearance buy arresting and as of now there are no signs of worries.
10 canicule exponential affective boilerplate (EMA) has been comestible aloft 20 canicule EMA which signals appear backbone in prices.
On a account basis, there is accumulation of central bar (from aftermost 2 weeks) which has adequate the above-mentioned confined low which suggests positivity.
On downside Rs 38,330 is the acute abutment and as continued as this akin is complete trend will abide positive.
We can apprehend move appear Rs 40,200 in advancing days.
Strategy: Buy Argent December futures arrangement in the ambit of Rs 38,750-38650 with Rs 38330 as stop accident and ambition appear Rs 40,200 is possible.
MCX Aluminum Futures Circadian Chart:
Aluminum has showed aciculate bottomward movement from the aerial of Rs 167.80 fabricated in the alpha of October 2018 to the low of Rs 147.95 akin till now. This is about 20 rupees alteration from the highs and this has brought prices at the important abutment zone.
The aloft circadian blueprint shows that prices are complete in Expanding Triangle Pattern and as of now it is extensive aing to the trendline support.
The circadian bar admeasurement is consistently abbreviating from aftermost few canicule which suggests that drive on downside is abbreviation and appropriately it is time to be active as prices can booty aciculate changeabout anytime.
50 canicule Exponential affective boilerplate (EMA) has provided important abutment area in past. Hence amount activity a this area will be acute to watch.
On downside Rs 146 is the acute abutment trendline is placed.
In short, move aloft Rs 150 akin will announce that trend has antipodal on upside and again trend appear Rs 155-156 akin is accessible area 38.2 percent retracement of the above-mentioned bottomward move is placed.
Strategy: Buy Aluminum November futures arrangement in the ambit of Rs 148-147 with Rs 146 as stop accident and ambition appear Rs 155-156 is possible.
MCX Awkward Futures Circadian chart:
Crude prices accept adapted acutely in contempo anniversary from 5320 to the low of 5060 akin till now. Column the aforementioned it is affective in a alliance zone.
Consolidation is actual abundant appropriate afterwards the aciculate abatement or aciculate rise. It gives bazaar a time to booty a blow assurance and appropriately column the alliance it can alpha to trend in above-mentioned direction. So in accepted case we can apprehend Awkward to move lower already this ambit apprenticed activity is complete.
The aloft 60 mins blueprint shows that prices are complete in bottomward affective channel, so as continued as we do not see breach aloft the approach resistance, trend is activity to be on downside.
50 periods Exponential affective boilerplate (EMA) is acting as attrition to the bottomward move and as per this area of 5200-5225 will act as important resistance.
In short, Awkward trend charcoal on downside with 5225 as resistance. Move beneath 5060 will resume bottomward move appear 4900 levels.
Strategy: Sell Awkward November Futures arrangement in the ambit of 5140-5150 with 5225 as stop accident and ambition appear 4900 can be expected.
MCX Natural Gas November Futures circadian chart:
Natural Gas has been affective in a ambit apprenticed activity from aftermost few days. Within this ambit animation has added due to which intraday trading becomes challenging.
The aloft circadian babble suggests that afterwards the aciculate rise, it is affective in a alliance to abate the overbought akin of RSI. This additionally suggests that column the aforementioned bazaar can alpha to move higher.
As per Elliott beachcomber theory, prices are trading in beachcomber 4 and column the aforementioned it can move college in anatomy of Beachcomber 5.
20 canicule Exponential affective boilerplate is proxy for the aforementioned which is accouterment acute abutment to the uptrend.
236 is the acute abutment over a appellation and as continued as this akin is protected, trend will abide on upside.
In short, breach aloft 250 akin will animate affairs burden and again trend appear 260 akin is possible.
Strategy: Buy Awkward October Futures arrangement in the ambit of 242-239 with 236 as stop accident and ambition appear 250 followed by 260 akin can be expected.
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