Gold 16th June 2012



Elliot wave study

Recent wave: Expecting wave e of triangle 5 wave corrective wave pattern.

Note: Break below $1522 would confirm medium term correction.

Trend: Bullish

Duration: 1-2 months

Strategy: Long

Strategy

Short Term

COMEX-Gold

Buy at $1545-1560 TP $1745 SL $1522

MCX-Gold

Buy at ` 29600-29750 TP ` 30600/30900 SL ` 29100

Long Term

COMEX-Gold

Sell below $1520 TP $1380/1290 SL above $1630.

MCX -Gold

Sell below ` 28800 TP ` 26200/24900 SL ` 30100


Aluminum 16th June 2012



Elliot wave study

Recent wave: Expecting minor wave 5 of Corrective intermediate wave (A).

Trend: Bearish

Duration: 1-2 months

Strategy: Short

Strategy

Aluminium

LME

Sell at 2000-2020 TP 1860/1780 SL 2090

MCX

Sell at ` 110-111  TP ` 104/101 SL above ` 114.5


Nickel 16th June 2012



Elliot wave study

Recent wave: Expecting intermediate wave (C) of Corrective wave.
Trend: Bearish

Duration: 1-2 months

Strategy: Short

Strategy

Nickel

LME

Sell at 16300-16400 TP 13700 SL 17700

MCX

Sell at `970-980 TP ` 820/760 SL above ` 1060


Jeera 16th June 2012



Elliot wave study

Recent wave: Expecting wave e of reverse symmetrical triangle in the corrective wave 2
Trend: Bullish

Duration: 2-5 months

Strategy: Long

Strategy

Jeera-NCDEX

Buy at `12400-12600 TP ` 14200/15700 SL below ` 11200


Chana 16th June 2012



Elliot wave study

Recent wave: Expecting wave 5 of intermediate wave (5)
Trend: Bullish

Duration: 1-2 months

Strategy: Long

Strategy

Chana-NCDEX

Buy at ` 3850-3950 TP ` 4300/4500 SL below ` 3690