Buy MCX Zinc November: Buying in minor pullbacks is recommended for the day | Buy MCX Natural Gas | Buy NCDEX Guar Gum | Buy NCDEX Kapas | Indianotes.com


MCX ZINC NOV: Zinc prices rose strongly in the last session after taking strong support at its short term rising trend line in the previous few sessions. Prices are expected to rise further from these levels towards immediate resistance placed around its short term declining trend line currently near 216 level. On the lower side immediate supports are placed around 210 and 206.50 levels. Buying in minor pullbacks is recommended for the day in this commodity. Action: Buy


MCX NATURAL GAS NOV: Natural Gas prices opened slightly higher in the las session and prices consolidated for the whole session in the range of 207.50-210.50 levels. Prices have been rising strongly since last one week after taking strong support near multiple bottoms of 185 level and broken out from its previous strong resistance of 204 level. Prices are expected to rise further from these levels towards next resistance placed around 215 level. On the lower side immediate supports are placed around 204 and 200 levels. Action: Buy


NCDEX GUAR GUM DEC:
Guar gum prices rose strongly in the last session and broke out from its short term declining trend line resistance. Prices have been recovering gradually since last two weeks after taking strong support at its 61.8% Fibonacci retracement of its rally from low of 6880 till high of 9130, which is placed around 7740 level. Prices are expected to rise further from these levels towards immediate resistance placed around 8500 level. Action: Buy


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 level. Prices have also broken out from its short term declining trend line resistance and are expected to rise further from these levels towards next strong resistance placed around 947 level. Action: Buy

 

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