what to do in lead

happy morning everybody.i am new to commodity trading.i have reently began trading and have a short position in lead at 100.now the price is 102.can anybody tell me what to do.shall i book a loss and exit or shall i wait?

Hi Radheshyam,

I have a short position in lead @ 98 & 102. As per my opinion lead may go till 103 max to max today and from there it may retrace @ 98.30, 96.80, 95.50........ my Target is at 96.00......and if sustain above 103, then I will square off my position.

I had already booked my profits between these position (Rs. 2 in total in various small trades)

Current Market Price of Lead is Rs. 102.20

I am just sharing my view.


Regards

iGuru

iGuru,

what about copper?

Hi COMM4300,

For Copper I am little bit dicy, I think it will not sustain above $ 3.5...... if it so then it may rise further. I am considering it to come down from this level (for correction) to min. $ 3.4 & below.

Current Market price of Copper MCX, 30 Nov Contract is Rs. 361

I will consider it can go above till Rs. 362.50 max to max Rs. 363 intrady (as today we don't have any economic data to come which will influence Copper a lot, excluding any other market new), So I will take a sell call here at Rs. 361-362....... Target 359.15, 357, 355.50 & 353.75 and SL 363.30

I am just sharing my view here.


Regards,

iGuru

thanks,

seems your analysis about copper is coming true....coming down now in MCX...

thanks again.

Hi COMM4300,

Copper may take support here @ 358.65 ....... from here it can go upto 359.30-360 & then come down........... so please be cautious here while trading.

My Todays Position (Booked Profit/Loss):

Lead MCX, 30 Sep Contract: Short @ 102.25 - Booked @ 101.25 = Rs. 5000
Copper MCX, 30 Nov Contract: Short @ 361 - Booked @ 358.50 = Rs. 2500

Total Gain: Rs. 7500


My Positional Lead position is still open @ Rs. 102 & 98


Regards,

iGuru

i saw the london metal exchange figures just now.it shows lead is up by more than 7%.and u as well as my broker nirmal bang suggest to hold on.can u please clarify what impact will this price jump in LME lead have on mcx lead.

"Lead" has been bullish for a few days now. As Ramesh rightly put it, it has to show a tick down to indicate some bearishness. Trying to post a chart as per Data I have from MCX.

happy morning karnani.thank u so much for ur input.the thing is iam new to commodity market and i am relying on my brokers advice as of now.but u seem to be a veteran in this.ramesh and i guru have also been helpful in giving the right advice.thanks for sharing the knowledge with us .