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Fundamental Summary: Crude has been trading in a nice down trend and making new lows every day. Currently it is trading at 3418. Winter season is considered good for fuel sector and crude has been falling during 1 st half of winter session and hovering near $53.23. Falling crude price during winter and holidays season is irrational. We may see good demand during 2 nd half of winter season as winter will be on its peak and would trigger demand. Transportation activates are likely to increase during holidays season that also relates to crude oil consumption and will result in declining inventory and would be a supporting factor in coming days. We will see inventories will start declining during coming months and OPEC may also cap crude oil production which would trigger sharp recoveries in this counter. Technically crude on MCX is forming a bullish butter fly pattern and hints a possible recovery from point D that completes near 127.2% extension of move XA. 1 st accumulation can be ...

Copper has been trending down and forming a bullish wolf wave pattern. Metal has completed all 5 points of this pattern and now recovering from descending trend line support. MACD has been staying in bearish territory but recently it has climbed above its signal line that hints weakening bearish momentum and development of a fresh bullish momentum. Areas of 399 are also supported by 88% Fibonacci correction of a bullish move from 397.85 to 414.90 and 113% extension of recent bullish attempt from point 3 to point 4. MACD cross and presence of Fibonacci ratios near 399 zones suggests a strong support near 400-397 zones. Recommendation: As per chart and explanations above buying copper around 401-400 with stop loss below 397 for targeting 407-415 and more upside might be appropriate in short term, currently trading at 401.35