COMMODITY MARKET TRENDS FOR TODAY 20-SEP
Gold prices returned from red territory on Thursday after US Central Bank stated that it would continue with its monetary stimulus program till the economy returns to its solid
growth path. Weak US Dollar was also seen supporting the yellow metal prices to certain extent in the global market. Gold futures for December delivery on Globex platform of Comex was seen trading up by 4.6% at $1368.2 per troy ounce as of 14.26 IST on Thursday.
Commodity Trends
GOLD (5 OCT.) TREND: CONSOLIDATE
RES 1: 30670,RES 2: 31000
SUPP 1: 30140,SUPP 2: 29700
STRATEGY: BUY ON DIPS
SILVER (5 DEC.) TREND: CONSOLIDATE
RES 1: 51950,RES 2: 52500
SUPP 1: 51050,SUPP 2: 50700
STRATEGY: BUY ON DIPS
CRUDEOIL (21 OCT.) TREND: CONSOLIDATE
RES 1: 6740,RES 2: 6800
SUPP 1: 6560,SUPP 2: 6500
STRATEGY: SELL ON HIGHS
COPPER (29 NOV.) TREND: CONSOLIDATE
RES 1: 467.00,RES 2: 472.00
SUPP 1: 459.00,SUPP 2: 455.00
STRATEGY: BUY ON DIPS
LEAD (30 SEP.) TREND: CONSOLIDATE
RES 1: 132.00,RES 2: 133.60
SUPP 1: 130.00,SUPP 2: 128.70
STRATEGY: BUY ON DIPS
ZINC (30 SEP.) TREND: CONSOLIDATE
RES 1: 117.40,RES 2: 118.00
SUPP 1: 116.00,SUPP 2: 115.10
STRATEGY: BUY ON DIPS
ALUMINIUM (30 SEP.) TREND: CONSOLIDATE
RES 1: 111.90,RES 2: 112.70
SUPP 1: 110.60.SUPP 2: 109.15
STRATEGY: BUY ON DIPS
NICKEL (30 SEP.) TREND: CONSOLIDATE
RES 1: 900.00,RES 2: 920.00
SUPP 1: 872.00,SUPP 2: 860.00
STRATEGY: BUY ON DIPS
NATURAL GAS (25 SEP.) TREND: CONSOLIDATE
RES 1: 234.70,RES 2: 240.00
SUPP 1: 229.60,SUPP: 227.00
STRATEGY: BUY ON DIPS
MCX COMMODITY MARKET LEVELS FOR TODAY 19-SEP
Gold prices in the global market, edged lower and continued its bearish rally which started
last week and was seen trading near five week low as traders were seen awaiting to know
whether US Central Bank start tapering its monetary stimulus later this year.
Gold futures on India’s Multi Commodity Exchange (MCX) was seen trading slightly
positive and may record a decline during intraday trade tracking a bearish trend in the
global market.
GOLD (5 OCT.) TREND: CONSOLIDATE
RES 1: 30270,RES 2: 30500
SUPP 1: 29620,SUPP 2: 29270
STRATEGY: BUY ON DIPS
SILVER (5 DEC.) TREND: CONSOLIDATE
RES 1: 50400, RES 2: 50950
SUPP 1: 49250,SUPP 2: 48490
STRATEGY: BUY ON DIPS
CRUDEOIL (21 OCT.) TREND: CONSOLIDATE
RES 1: 6880,RES 2: 6950
SUPP 1: 6760,SUPP 2: 6700
STRATEGY: BUY ON DIPS
COPPER (29 NOV.) TREND: CONSOLIDATE
RES 1: 470.00,RES 2: 474.00
SUPP 1: 464.00,SUPP 2: 458.00
STRATEGY: BUY ON DIPS
LEAD (30 SEP.) TREND: CONSOLIDATE
RES 1: 132.50,RES 2: 133.60
SUPP 1: 131.40,SUPP 2: 130.50
STRATEGY: BUY ON DIPS
ZINC (30 SEP.) TREND: CONSOLIDATE
RES 1: 118.60.RES 2: 119.50
SUPP 1: 116.90,SUPP 2: 116.00
STRATEGY: BUY ON DIPS
ALUMINIUM (30 SEP.) TREND: CONSOLIDATE
RES 1: 112.20,RES 2: 113.70
SUPP 1: 110.00,SUPP 2: 109.00
STRATEGY: BUY ON DIPS
NICKEL (30 SEP.) TREND: CONSOLIDATE
RES 1: 895.00,RES 2: 910.00
SUPP 1: 880.00,SUPP 2: 868.00
STRATEGY: BUY ON DIPS
NATURAL GAS (25 SEP.) TREND: CONSOLIDATE
RES 1: 240.50,RES 2: 244.00
SUPP 1: 232.50,SUPP: 228.00
STRATEGY: BUY ON DIPS
MCX COMMODITY MARKET TRENDS FOR TODAY 18-SEP
TODAY’S UPCOMING DATA FOR TRADERS 17-SEP
As tomorrow draws ever closer the FOMC announcement continues to keep a tight reign on prices, but with Syria and US domestic incident also causing a few jitters
TRADING STRATEGY FOR TODAY 17-SEP
1. Lack of motivation. A talent is irrelevant if a person is not motivated to use it. Motivation may be external (for example, social approval) or internal (satisfaction from a job well-done, for instance). External sources tend to be transient, while internal sources tend to produce more consistent performance.
2. Lack of impulse control. Habitual impulsiveness gets in the way of optimal performance. Some people do not bring their full intellectual resources to bear on a problem but go with the first solution that pops into their heads.
3. Lack of perseverance and perseveration. Some people give up too easily, while others are unable to stop even when the quest will clearly be fruitless.
4. Using the wrong abilities. People may not be using the right abilities for the tasks in which they are engaged.
5. Inability to translate thought into action. Some people seem buried in thought. They have good ideas but rarely seem able to do anything about them.
6. Lack of product orientation. Some people seem more concerned about the process than the result of activity.
TRADING CALLS FOR TODAY 17-SEP
SELL UNITED SPIRITS FUTURES BELOW 2550 TG-2538/2520/2490 SL-2575(CMP2555)
BUY TATA MOTORS 340 PUT ABOVE 14.00 TG- 15.00/16.50/18.50 SL- 11.80 (CMP- 13.95)
PROFIT CALL: SELL WOCKHARDT BELOW 568 TG-558/543/523 SL-583.10
FOR MORE CALLS JUST FILL THIS FREE TRIAL FORM
COMMODITY MARKET TRENDS FOR TODAY 17-SEP
MCX COMMODITY MARKET TRENDS FOR TODAY 16-SEP
MCX COMMODITY MARKET TRENDS FOR TODAY 13-SEP
Copper prices edged down in the global market on Thursday amid weak data releases from Europe and concerns that US Central Bank may start reducing its ‘commodity friendly’ monetary stimulus later this month. As of now, comex copper is trading with a
negative note and is likely to continue with the trend for the day.
RES 1: 30350,
RES 2: 30680
SUPP 1: 29880,
SUPP 2: 29500
STRATEGY: SELL ON HIGHS
RES 1: 51100,
RES 2: 51950
SUPP 1: 50500,
SUPP 2: 49800
STRATEGY: SELL ON HIGHS
RES 1: 7000,
RES 2: 7080
SUPP 1: 6870,
SUPP 2: 6780
STRATEGY: SELL ON HIGHS
RES 1: 464.50,
RES 2: 468.50
SUPP 1: 456.00,
SUPP 2: 450.00
STRATEGY: SELL ON HIGHS
RES 1: 135.70,
RES 2: 137.30
SUPP 1: 134.00.
SUPP 2: 132.50
STRATEGY: SELL ON HIGHS
RES 1: 119.70
RES 2: 120.50
SUPP 1: 117.80
SUPP 2: 116.70
STRATEGY: SELL ON HIGHS
RES 1: 114.30
RES 2: 115.10
SUPP 1: 112.90
SUPP 2: 112.00
STRATEGY: SELL ON HIGHS
RES 1: 894.00
RES 2: 905.00
SUPP 1: 865.00
SUPP 2: 850.00
STRATEGY: SELL ON HIGHS
RES 1: 235.00
RES 2: 238.00
SUPP 1: 226.50
SUPP: 224.50
STRATEGY: SELL ON HIGHS
Gold prices in the global market continued its bearish trend amid speculation that US Federal Reserve may start reducing its monetary stimulus later this year on improving economic conditions in the United States and around the world. Depreciation of Indian Rupee (INR) against US Dollar (USD) has limited further decline in MCX gold to certain extent during intra-day trade. A list of data releases are scheduled for the day and the yellow metal change its direction after the data released.
GOLD SILVER CRUDE AND NATURAL GAS DAILY REVIEW FOR TODAY 12-SEP
Spot gold prices increased around 0.2 percent yesterday on the back of weakness in the DX coupled with rise in risk appetite in global market sentiments.
However, sharp upside in prices was capped on account of declining trend in SPDR gold holdings which stood at 917.13 tonnes. The yellow metal touched an intra-day high of $1367.9/oz and closed at $1366.10/oz in yesterday’s trading session.
In the Indian markets, prices slipped around 0.2 percent due to Rupee appreciation and closed at Rs.30,682/10 gms after touching a low of Rs.30,442/10 gms on Wednesday.
Taking cues from rise in gold prices along with weakness in the DX, Spot silver prices gained around 1 percent yesterday. Further, upbeat global market sentiments also supported an upside in prices.
However, sharp upside in prices was capped on account of downside in base metals group. The white metal touched an intra-day high of $23.20/oz and closed at $23.16/oz in previous trading session.
On the MCX near month contract prices gained by 0.4 percent and closed at Rs.52,439/kg after touching an intra-day high of Rs.52,896/kg on Wednesday.
Outlook
Over today’s trade, precious metals are expected to trade with a negative bias and a stronger Rupee in the Indian markets will add additional downside pressure.
Nymex crude oil prices increased around 0.2 percent yesterday on the back of weakness in the DX. Further, decline in US crude oil inventories supported an upside in prices. Additionally, upbeat global market sentiments acted as a positive factor.
However, sharp upside in prices was capped on account of ease in Syria tensions. Also, inventories at Cushing Oklahoma fell at slowest level since February 2012 along with increase in US refinery utilization. Refineries ran at a capacity of 92.5 percent which is at the highest level since 2006. Crude oil prices touched an intra-day high of $108.09/bbl and closed at $107.60/bbl in yesterday’s trade.
On the domestic bourses, prices gained 0.4 percent and closed at Rs.6865/bbl after touching a high of Rs.6908/bbl on Wednesday.
As per the US Energy Department (EIA) report, US crude oil inventories declined by 0.2 million barrels to 360.0 million barrels for the week ending on 6th September 2013.
Gasoline stocks rose by 1.7 million barrels to 217.6 million barrels and whereas distillate stockpiles climbed by 2.6 million barrels to 132.20 million barrels for the last week.
Outlook
From the intra-day perspective, we expect crude oil prices to trade lower on the back of ease in Syria tensions. Further, rising production in US refineries will exert downside pressure on prices. Additionally, expectations of unfavorable economic data from Euro Zone will act as a negative factor. However, sharp downside in prices will be cushioned as a result of drop in US crude oil inventories, upbeat global market sentiments along with weakness in the DX.
In the Indian markets, appreciation in the Rupee will add downside pressure on prices.
Mcx-Tips-Providers 