Base metals weekly technical analysis 23-27 January 2017

mcx aluminium weekly technical analysis 23-27 January 2017

Mcx aluminium weekly-achieved all bullish and super tgt for January

Mcx aluminium future this week closed with huge gains. We saw high range in this week but momentum was strong bullish and we see strong buying on very dip. This was third gaining week for aluminium prices. Aluminium in last 3 weeks rallied from low of 114 to highs above 126. Total 12 rupee or almost 10% gains in short terms. Mcx aluminium after breakout above 116 achieved my January targets of 118-121-123 and 126.4. if closes above 126.4 then it will only bull run and sharp short covering rallies in next for aluminium future. Below 126.4 pray for correction. Mcx aluminium achieved my 2017 target of 126.5 in first month of year. Above 127 now next long term target will be 137. mcx copper weekly technical analysis 23-27 January 2017

Mcx copper weekly-buying opportunity for tgts 402-428

Mcx copper this week closed with loss at 395. Mcx copper future after last 3 weeks Bull Run given retracement on profit booking. This week copper hit high around 406 while low was near 389. Total 17 rupee or almost 4% weekly swing and negative closing. Mcx copper already achieved my given target of 402 and also given swing high up to 406. Current correction is buying opportunity for targets 402 and then 428 in short terms. Mcx copper long term view, is strong bullish trend and heading towards my 2017 target of 433. mcx lead weekly technical analysis 23-27 January 2017

Mcx lead weekly-hit target 155 next target 175

Mcx lead future this week closed at 157.75 with gain. This was third week of gain for lead prices. In these 3 weeks lead future rallied from 134 to almost highs of 158. Total 24 rupee or total 18% gains in short terms. Mcx lead achieved my January first target of 155 rupee and given breakout above it and now heading for 175 rupee target. For next week, above 155 rupee mcx lead outlook remain bullish and expect targets of 162 and 175 in next week. Mcx lead from long term view, heading towards my target of 174 rupees. mcx nickel weekly technical analysis 23-27 January 2017

Mcx nickel weekly-use dips to accumulate expect big short covering rally

Mcx nickel future this week closed with heavy loss. This week nickel hit high around 709 while low was at 659. Total 50 rupee weekly range and closing at week low. This is panic dip and expect sharp shortcoming in next week. On downside 645 is last support and if it breaks 645 support then expect total sell off in nickel in short terms. On upside 722 will be reversal rally target. From long term view, nickel is making panic bottom before moving towards my long term target of 835. mcx zinc weekly technical analysis 23-27 January 2017

Mcx zinc weekly-achieved 189 target next tgt 203

Mcx zinc future this week closed with loss. Mcx zinc future after last 3 weeks gains seen some profit booking in this week but recovered from loss and closed flat negative in this week. For zinc future we saw rally from 166 to almost 190 rupee in 1 month timeframe. Total 15% gains in short term for this metal commodity. Mcx zinc achieved my given target of 189 and now will head for my next January target of 203. From long term view, mcx zinc is heading towards my 2017 target of 219 rupees.

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Pramod Baviskar

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