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24/04/2017 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free : 18003157801
24/04/2017 Crude futures slump by 4% on disappointing inventory data: Crude oil may open in green tracking firm international markets as test 4620 in MCX. International oil prices hit their highest levels since late 2014 on Tuesday, pushed up by expectations of renewed U.S. sanctions against Iran and as OPEC continue withholding supplies amid strong demand. Markets have been lifted by supply cuts led by the Organization of the Petroleum Exporting Countries introduced in 2017 with the aim of propping up the market, as well as by the potential of renewed U.S. sanctions against Tehran. (OPEC) which were Copper futures trade higher on MCX: In base metals complex volatile movement may persist as improved US new homes sales data later today to support the prices. Copper may take support near 452 and can move towards 460. Aluminium may take support near 145 in MCX. The U.S. Treasury gave Americans until Oct. 23 instead of June 5 to wind down business with Rusal and said it would consider lifting the sanctions if Rusal's major shareholder, Russian tycoon Oleg Deripaska, ceded control of the company. Gold futures end lower as dollar strengthens: Bullion counter may open in green amid short covering after yesterday sharp fall .Prices plunged lower yesterday due to boost in greenback due and declining safe haven demand. Gold can face resistance near 31400 in MCX and can take support near 31150. Meanwhile silver can face resistance near 39800 and can take support near 39300. Gold prices steadied in Asian trade on Tuesday, a day after falling to the lowest level in more than two weeks, as a climb in the dollar and 10-year U.S. Treasury yields dampened the appeal of bullion. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free : 18003157801
24/04/2017 TECHNICAL ANALYST GOLD GOLD OUTLOOK: TREND: - UP TECHNICAL OUTLOOK TECHNICAL OUTLOOK RESISTANCE: - 31350, 31450 SUPPORT: - 31150, 31050 STRATEGY: - BUY ON LOW. Gold daily chart has formed “Rising wedge” patterns. The last few sessions been bearish in trend after retesting the channel’s resistance slope line. The market is expected to continue in bearish momentum, testing all the way through 31200-31000 levels in the upcoming sessions. Alternatively, if the market breaks above a key resistance holding at 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free : 18003157801 31350 then it might turn bullish. Key support holds at 31000.
24/04/2017 OUTLOOK: SILVER SILVER TREND: - UP RESISTANCE: - 39700, 39900 SUPPORT: - 39300, 39100 STRATEGY: - BUY ON LOW. TECHNICAL OUTLOOK TECHNICAL OUTLOOK Silver daily chart has formed “Symmetrical triangle” pattern. The last session ended up bearish in trend as the prices have already broken out the channel’s resistance slope line. The market is expected to continue in bearish momentum, once the same breaks below the key support holding at 39400. The downside rally could test all the way through 39200-39000 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 39600-40000 levels. Key resistance holds at 40000. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free : 18003157801
24/04/2017 COPPER COPPER OUTLOOK: TREND: - UP RESISTANCE: - 460.50,462 SUPPORT: -455.50, 453 STRATEGY: - BUY ON LOW. TECHNICAL OUTLOOK TECHNICAL OUTLOOK Copper hourly chart has formed “Rising channel” pattern. The last few sessions ended up consolidated after retesting a key support holding at 454. The market is expected to continue in bullish momentum, once the same breaks above the key resistance holding at 458. The upside rally could test all the way through 462-465 levels in the upcoming sessions. Alternatively, if the key resistance holds strong then the market might retest the and turn bearish. The downside rally could test 456-454 levels. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free : 18003157801
24/04/2017 CRUDE CRUDE OIL OIL OUTLOOK: TREND: - UP RESISTANCE: - 4610, 4640 SUPPORT: - 4550, 4520 STRATEGY: - BUY ON LOW. TECHNICAL OUTLOOK TECHNICAL OUTLOOK Crude oil daily chart has formed “Ascending broadening wedge” pattern. The last few sessions ended up consolidated but bullish in trend. The market is expected to continue in bullish momentum, testing all the way through 4620-4650 levels in the upcoming sessions. Alternatively, the market might also have a chance on giving a correction over negative momentum. Key resistance holds at 4650 and support at 4400. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free : 18003157801
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24/04/2017 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free : 18003157801
