ENJOY PROFIT IN METAL CALLS 7-MAY-2014

ZINC MADE 123.90 PER LOT PROFIT 2000/- CONTACT 9619662404

ZINC MADE 123.90 PER LOT PROFIT 2000/- CONTACT 9619662404
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ZINC MADE 123.90 PER LOT PROFIT 2000/- CONTACT 9619662404

ZINC MADE 123.90 PER LOT PROFIT 2000/- CONTACT 9619662404
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Nickel may witness gains at 1115, trading range 1090-1135

Nickel settled up 1.61% at 1115 as dwindling nickel supplies after Indonesia's ban of ore exports pushed the prices up. The threat of economic sanctions against Russia's mining industry if geopolitical tensions with Ukraine persist also buoyed prices.

Physical supply of nickel has stabilised in Europe as consumers slowed a burst of stockpiling triggered by fears an Indonesia's export ban from January would make ore scarce, although the market is expected to swing into deficit next year as inventories dwindle.

A narrowing differential between cash and benchmark prices reflects growing appetite for spot nickel supplies that is underpinning prices.

Two workers at First Nickel Inc's Lockerby Mine have died in an accident underground at the Sudbury, Ontario operation, the company said on Tuesday, bringing the total to six of those killed in area mines in the past three years. First Nickel said both workers, Marc Methe, 34, and Norm Bissaillon, 49, were drillers employed by Taurus Drilling Services.

All underground work at the northern Ontario mine has been suspended. LME nickel prices opened at USD 18,288/mt overnight, with the high end of the price range USD 18,595/mt, and finding support at USD 18,278/mt. Finally, LME nickel prices closed at USD 18,552/mt, up USD 267/mt from the previous trading day.

Trading volumes increased by 1,814 lots, to 5,168 lots, and total positions decreased by 300 lots to 234,087 lots. Inventories fell by 12 mt, to 279,516 mt.

Technically market is under fresh buying as market has witnessed gain in open interest by 0.8% to settled at 9254 while prices up 17.7 rupee, now Nickel is getting support at 1102.5 and below same could see a test of 1090 level, and resistance is now likely to be seen at 1125, a move above could see prices testing 1135.

Trading Ideas:
--Nickel trading range for the day is 1090-1135.
--Nickel ended with gains as dwindling nickel supplies after Indonesia's ban of ore exports pushed the prices up.
--The threat of economic sanctions against Russia's mining industry if geopolitical tensions with Ukraine persist also buoyed prices.
--Physical supply of nickel has stabilised in Europe as consumers slowed a burst of stockpiling
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CRUDE OIL TIPS 7-MAY-2014

 CRUDE BUY ABV 6012 TGT 6040 TGT 6065 TGT 6085 SL 5985

 CRUDE BUY ABV 6012 TGT 6040 TGT 6065 TGT 6085 SL 5985
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 CRUDE BUY ABV 6012 TGT 6040 TGT 6065 TGT 6085 SL 5985

 CRUDE BUY ABV 6012 TGT 6040 TGT 6065 TGT 6085 SL 5985  
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TRADE IN METAL CALLS

Base metals may witness sideways movement as investors will eye the US fed Chairman Testimony in congress later today. 

Copper may trade in range of 406-413 while Lead may move in range of 127-129. 

Aluminum may move in range of 105-106.50. 

Nickel may move in range of 1110-1130 in MCX. 

Zinc may move in range of 122-124.50. 

Nickel climbed for a second day to trade near a 15-month high on concern that global supplies will be disrupted as tensions between Russia and Ukraine were escalating and Indonesia stopped ore exports. 

German Chancellor Angela Merkel and U.S. President Barack Obama have set May 25 as a deadline for Russia, the second-biggest producer of refined nickel, to reject the separatists’ actions and withdraw support or possibly face deeper economic sanctions. Indonesia, the top nickel miner, banned ore exports in January to boost domestic processing.
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TRADE IN BULLION CALLS

Bullion counter is expected to continue yesterday gains tracking strong overseas cues. On domestic bourses weaker local currency can support the upside. 

Gold can move in range of 28700-29200 while silver can hover in range of 42100-43000 in MCX.

Gold rose toward a three-week high as investors weighed tension in Ukraine against signs of an improving U.S. economy. Gold has rallied 9.1 percent this year even as the Federal Reserve reduced monthly bond-buying, with the conflict between Russia and Ukraine increasing haven demand.

In China, the world’s largest consumer, volumes for the benchmark spot gold contract in Shanghai climbed for a second day yesterday.
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METAL CALLS 6-MAY-2014 CONTACT 9619662404

ALUMINIUM BUY ABV 106.60 TGT 107 TGT 107 TGT 107.60 TGT 108 SL 106.10

ZINC BUY ABV 124.20 TGT 124.60 TGT 125.20 TGT 126.50 SL 123.70

NICKEL SELL BLW 1120 TGT 1102 TGT 1095 TGT 1085 SL 1132 

www.punjiniveshonline.com Contact 9619662404

ALUMINIUM BUY ABV 106.60 TGT 107 TGT 107 TGT 107.60 TGT 108 SL 106.10

ZINC BUY ABV 124.20 TGT 124.60 TGT 125.20 TGT 126.50 SL 123.70

NICKEL SELL BLW 1120 TGT 1102 TGT 1095 TGT 1085 SL 1132 

www.punjiniveshonline.com Contact 9619662404 

SILVER CALLS 6-MAY-2014

SILVER BUY ABV 42570 TGT 42850 TGT 48950 TGT 42050 SL 42420  PUNJINIVESH CONTACT 9619662404

SILVER BUY ABV 42570 TGT 42850 TGT 48950 TGT 42050 SL 42420  PUNJINIVESH CONTACT 9619662404

SILVER BUY ABV 42570 TGT 42850 TGT 48950 TGT 42050 SL 42420  PUNJINIVESH CONTACT 9619662404

SILVER BUY ABV 42570 TGT 42850 TGT 48950 TGT 42050 SL 42420  PUNJINIVESH CONTACT 9619662404
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