SELL ZINC BELOW 209.40 TARGET 209-208.50-207.50 WITH SL 210.90

Zinc on MCX settled down -0.07% at 212.60 prices traded in the range as some profit booking seen near to 213-214 level while LME Zinc prices hold well above $3100 on supply worries and the prices has increased almost 4 percent in October supported by supply concerns. Zinc prices gained this week after data showed output in China slipped in September, highlighting worries that winter production cuts are tightening supplies of metals.

Technically Market is under long liquidation as market has witnessed drop in open interest by -1.91% to settled at 8052 while prices down -0.15 rupees, now Zinc is getting support at 211.2 and below same could see a test of 209.9 level, And resistance is now likely to be seen at 214, a move above could see prices testing 215.5.

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अंतरराष्ट्रीय बाजार में सोने की कीमतों में हल्की गिरावट नजर आ रही है। सोना 3 हफ्तों के निचले स्तर पर आ गया है। फिलहाल कॉमैक्स पर सोना 0.2 फीसदी की गिरावट के साथ 1267.4 डॉलर पर कारोबार कर रहा है। चांदी में बिकवाली देखने को मिल रही है। कॉमैक्स पर चांदी 0.25 फीसदी टूटकर 16.8 डॉलर पर कारोबार कर रही है।

कच्चे तेल की चाल सपाट नजर आ रही है। नायमैक्स पर डब्ल्यूटीआई क्रूड का भाव 52.7 डॉलर पर नजर आ रहा है। ब्रेंट क्रूड 0.15 फीसदी की बढ़त के साथ 59.4 डॉलर पर कारोबार कर रहा है।

सोना एमसीएक्स (दिसंबर वायदा) : बेचें – 29400, स्टॉपलॉस – 29550 और लक्ष्य – 29150.

कच्चा तेल एमसीएक्स (नवंबर वायदा) : खरीदें – 3390, स्टॉपलॉस – 3340 और लक्ष्य – 3480.

Oil prices rose on Monday over supply concerns in the Middle East and as the U.S. market showed further signs of tightening while demand in Asia keeps rising.

Brent crude futures, the international benchmark for oil prices, were at $57.90 at 0131 GMT, up 15 cents, or 0.26%, from their last close.

U.S. West Texas Intermediate (WTI) crude futures were at $52.13 per barrel, up 29 cents, or 0.56 %.

Crudeoil on MCX settled up 0.39% at 3372 as political tensions in the Kurdistan region continued to disrupt crude supplies offsetting signs of wavering U.S. demand. Oil exports from Iraq’s Kurdistan towards the Turkish port of Ceyhan were flowing at average rates on Friday of 216,000 barrels per day versus the usual flows of 600,000 bpd, according to a report from Reuters citing a shipping source.

                                         Trading Ideas:      

1. Crudeoil trading range for the day is 3301-3415.
2. Crude oil gained as political tensions in the Kurdistan region continued to disrupt crude supplies offsetting signs of wavering U.S. demand.
3. Adding to a tightening U.S. market, tensions in the Middle East meant that a risk premium was being priced into oil markets.