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31/05/2017 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free : 18003157801
31/05/2017 Crude oil futures trade lower on oversupply concerns: Crude oil futures traded lower on MCX as investors and speculators exited their positions in the energy commodity amid persistent oversupply concerns as a constant rise in the US drilling undermined an OPEC- led push to tighten supply. However, start of the American summer driving season boosted demand for transport fuels as families visit friends and relatives or go on vacation during the Northern Hemisphere summer months, restricted further fall in crude oil prices. Copper futures trade down on MCX: Copper futures traded down on MCX as participants indulged in reducing positions, tracking a weak trend in base metals at the domestic spot markets due to subdued demand. Gold futures edge lower on MCX: Gold futures edged lower on MCX as speculators remained on the sidelines in the precious metal as safe-haven demand faded amid lack of cues as most of the Asian equity markets are closed today. However, closeness of Britain's upcoming elections, prospect of early elections in Italy and worries over Greek debt capped some losses in gold futures. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free : 18003157801
31/05/2017 TECHNICAL ANALYST GOLD GOLD OUTLOOK: TREND: - UP RESISTANCE: - 28750, 28850. SUPPORT: - 28550, 28450. STRATEGY: - BUY ON LOW. TECHNICAL OUTLOOK TECHNICAL OUTLOOK Refined Gold prices declined by a sharp margin on 30 May 2017. The prices of yellow metal were at Rs 28719 per 10 grams, declining 0.63%. The metal tested a high of Rs 28986 per 10 grams and a low of Rs 28712 per 10 grams. Further extension of losses can take yellow metal towards Rs 28500 per 10 grams. On the higher side Rs 29100 per 10 grams are noted supports. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free : 18003157801
31/05/2017 OUTLOOK: SILVER SILVER TREND: - UP RESISTANCE: - 40150, 40300. SUPPORT: - 39800, 39600. STRATEGY: - BUY ON LOW. TECHNICAL OUTLOOK TECHNICAL OUTLOOK The Prices of silver were inches up during second half of the market on Tuesday. And at end of the day the prices were settled at 40282 per 30 kilogram. On the higher side Rs 40470 per 30 kilogram as resistances were noted while lows were at Rs 39925 per 30 kilograms as support noted. The metals remain under a volatile zone. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free : 18003157801
31/05/2017 COPPER COPPER OUTLOOK: TREND: - UP RESISTANCE: - 370,372.50. SUPPORT: -365, 362.50. STRATEGY: - BUY ON LOW TECHNICAL OUTLOOK TECHNICAL OUTLOOK Copper declined further in the trading session ending 30 May 2017. The trend remains sideways as very little activity is noted in the metal. The prices have surpassed Rs 365 per kg even though the value looks vulnerable and ended the day at Rs 367. It will be difficult for Copper to move past Rs 372 per kg in the coming days looking at the daily charts. On the lower side possibility of testing Rs 360 per kg is high. The prices tested a high of Rs 367.85 per kg and a low of Rs 363.85 per kg. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free : 18003157801
31/05/2017 CRUDE OIL CRUDE OIL OUTLOOK: TREND: - UP RESISTANCE:- 3230, 3260. SUPPORT: - 3170, 3140. STRATEGY: - BUY ON LOW. TECHNICAL OUTLOOK TECHNICAL OUTLOOK The contract for June delivery was trading at Rs 3219.00, down by 1.23% or Rs 40.00 from its previous closing of Rs 3259.00. The open interest of the contract stood at 16673 lots. Due to oversupply the prices of crude oil were down and yesterday it made resistance and support respectively 3245 and 3175. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free : 18003157801
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