Buy MCX Lead November: To rally towards next resistances placed around 167 & 171 levels | Buy MCX Natural Gas | Sell NCDEX Guar Seed | Buy NCDEX Kapas | Indianotes.com


MCX LEAD NOV: Lead prices opened slightly lower in the last session and prices corrected initially till low of 161.85 level. Prices rose strongly for the remaining session and closed positive. Prices have been rising gradually since last one week after breaking out from its falling trend channel pattern and are expected to continue this rally towards next resistances placed around 167 and 171 levels. On the lower side immediate supports are placed around 162.50 and 160.15 levels. Action: Buy


MCX NATURAL GAS NOV:
Natural Gas prices opened slightly lower in the last session and prices corrected initially till low of 205. Later prices recovered strongly and closed positive for the sixth consecutive sessions. Previously prices have broken out from its last five month’s range after recovering from its multiple bottoms made around 185 level. Prices are expected to rise further from these levels towards next resistance placed around 215 level. Action: Buy


NCDEX GUAR SEED DEC: Guar seed prices have fallen sharply in the last session after taking strong resistance at its short term declining trend line in the previous few sessions. Prices are expected to fall further from these levels towards immediate support placed around its recent low of 3558 level and further around 78.6% Fibonacci retracement of its rally from low of 3235 till high of 4344, which is placed around 3472 level. Action: Sell


NCDEX KAPAS APR:
Kapas prices have been rising strongly since last few sessions after taking strong support at its short term rising trend line. Prices have made higher top higher bottom chart pattern after breaking above its previous swing high of 893.50 in the previous session. Prices have also broken out from its short term declining trend line resistance and are expected to rise further from these levels towards next resistances placed around 928 and 947 levels. Action: Buy

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