Buy MCX Lead Nov: Upside potential remains strong; buy on dips | Buy NCDEX Cocud | Buy NCDEX Castor Seed | Buy MCX Crude Oil | Indianotes.com


MCX LEAD NOVEMBER: On Monday, lead prices opened slightly lower and from there it slipped till the low of 157.90 and finally ended at 158.55. The price has almost made a triple bottom formation and is rebounding from the same. So by going through the above chart pattern, upside potential remains strong and therefore we advise buying on dips around 158.35 for upside targets of 161.50 then 163 levels. Action: Buy


MCX CRUDE OIL DECEMBER: In yesterday’s session crude oil prices witnessed sharp correction and declined till the low of 3715 and finally ended at 3750. Price has come down till the weekly trend channel supports and head we expect the prices to rebound from the support levels and thus we recommend buying for the day around 3740 for targets of 3800 then 3820. Action: Buy


NCDEX CASTOR SEED DECEMBER: On Monday, Castor seed prices witnessed sharp bounce after opening at 4569 and ended almost near the day’s high at 4627 gaining 2.80%. Castor seed price have penetrated the long-term trend line resistance and settle above that. For the day, the immediate support is at 4575 and corrective move towards these levels can be utilized for initiating long positions. Action: Buy


NCDEX COCUD DECEMBER:
After last week’s massive gains, this week cocud prices opened on the negative note and declined till the support of 1581 and ended at 1585. Prices have exactly tested the neckline support of the ascending triangle pattern. Ahead, we excpect prices to rebound from the supports and advise traders to remain long for the targets of 1648 the 1665 for the day. Action: Buy

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