The document provides a commodity report on base metals including aluminum, copper, lead, nickel, and zinc from August 31, 2019. For each metal, it discusses factors influencing prices, provides a technical analysis including support and resistance levels, and gives a research recommendation to either sell or buy the metal. For example, for aluminum it recommends selling below 138.50 with a target price of 136-134 and stop loss of 140. The document contains detailed information on price movements and analyses to advise on trading for various base metals.

1. COMMODITY
REPORT BASE METAL
31
August
2019

2. 1
BASE METAL REPORT
31 August 2019
COMMODITY REPORT BULLION -
GOLDFactors Influencing the Market
• Temporary shutdown of Alpart alumina refinery unlikely to dent oversupplied market - sources.
• Producer offers Q4 cif MJP aluminium at premium of $110/t – sources
• Higher aluminium price prompts Chinese smelters to restart idled capacity - sources
TECHNICALANALYSIS
(ALUMINIUM)
• SUPPORT 124.64 AND RESISTANCE 144
The last few sessions ended up in sideways trend along with some corrections inside the channel. The market is expected
to continue on the bearish momentum based on the current price action, once the same breaks below a key support
holding at 138.50. The downside rally could be testing all the way through 136-134 level in the upcoming sessions.
Alternatively, if key support holds strong then the market might retest the same and turn bullish. The upside rally could
test up to 142 level. Key resistance holds at 142.
RESEARCH RECOMMENDATION
SELL BELOW 138.50 TARGET 136-134 STOP LOSS 140

3. 1
BASE METAL REPORT
31 August 2019
COMMODITY REPORT BULLION -
GOLDFactors Influencing the Market
• The metal slipped 0.23 per cent to USD 257.15 on the COMEX.
• off-loading of positions by speculators amid weak global cues led to fall in copper prices at futures
trade.
• copper for delivery in September fell 15 paise, or 0.03 per cent.
TECHNICALANALYSIS
(COPPER)
• SUPPORT 434.67 AND RESISTANCE 451
The last few sessions been in sideways trend along with some corrections inside the channel. The market is expected to
continue on bullish momentum based on the current price action, once the same breaks above a key resistance holding at
447. The upside rally could be testing all the way through 451-455 level in the upcoming sessions. Alternatively, if the key
resistance holds strong then the market might retest the same and turn bearish. The downside rally could test up to 436
level. Key support holds at 436.
RESEARCH RECOMMENDATION
SELL BELOW 444 TARGET 440-436 STOP LOSS 447

4. 1
BASE METAL REPORT
31 August 2019
COMMODITY REPORT BULLION -
GOLDFactors Influencing the Market
• the fall in lead prices to profit-booking by players at current levels coupled with low demand at the
spot market.
• lead contracts for September delivery edged lower by 40 paise.
• lead for most-traded August delivery traded lower by 35 paise.
TECHNICALANALYSIS
(LEAD)
• SUPPORT 148 AND RESISTANCE 159.61
The last few sessions ended up in sideways trend along with some corrections inside the channel. The market is expected
to continue on bearish momentum based on the current price action, once the same breaks below a key support holding
at 153. The downside rally could be testing all the way up to 152-151 levels in the upcoming sessions. Alternatively, if the
key support holds strong then the market might retest the same and turn bullish. The upside rally could test up to 156
level. Key resistance holds at 156.
RESEARCH RECOMMENDATION
SELL BELOW 148 TARGET 145 STOP LOSS 152

5. 1
BASE METAL REPORT
31 August 2019
COMMODITY REPORT BULLION -
GOLDFactors Influencing the Market
• LME nickel price closes at 5-year high in 9% upturn; tin climbs 3.6%
• LME nickel rallies 8% amid Indonesian ore export ban rejig
• Nickel inventories slump by 15%; copper stocks down 8%
TECHNICALANALYSIS
(NICKEL)
• SUPPORT 980.2 AND RESISTANCE 1162
Nickel Aug daily Chart has formed “FLAG" pattern. The last few sessions been in sideways trend along with some
corrections inside the channel. The market is expected to continue on the bullish term based on the current price action,
once the same breaks above a key resistance holding at 1170. The upside rally could be testing all the way through 1180-
1190 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the
same and turn bearish. The downside rally could test up to 1140 level. Key support holds at 1140.
RESEARCH RECOMMENDATION
BUY ABOVE 1203 TARGET 1212 STOP LOSS 1194

6. 1
BASE METAL REPORT
31 August 2019
COMMODITY REPORT BULLION -
GOLDFactors Influencing the Market
• US zinc premium narrows down ahead of Labor Day; Taiwan secondary lead premium up
• Zinc futures traded marginally lower at Rs 182.85 per kg on Friday
• weakness in zinc prices in futures trade was mostly due to cutting down of bets by speculators in
tandem in line with a weak trend at the spot market.
TECHNICALANALYSIS
(ZINC)
• SUPPORT 175.63 AND RESISTANCE 196.21
The last few sessions ended up sideways in trend along with some corrections inside the channel. The market is expected
to continue on bearish momentum based on the current price action, once the same breaks below a key support holding
at 182.50. the downside rally could be testing all the way through 180-178 levels in the upcoming sessions. Alternatively,
if the key support holds strong then the market might retest the same and turn bullish once again. The upside rally could
test up to 189 level. Key resistance holds at 189.
RESEARCH RECOMMENDATION
SELL BELOW 178 TARGET 174 STOP LOSS 182

7. 3
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