Daily Market Reflection

19th June 2017

-
Market Outlook COMDEX
Gold prices remained unchanged on Friday, as safe haven
demand remained subdued, despite a pair of disappointing U.S.
economic reports raising concerns about the outlook of U.S.
economic growth in the second quarter. Crude futures settled
higher on Friday, but ended the week in negative territory, as
investors continued to doubt whether Opec and its allies global
pact to curb production would stem the glut in supply amid rising
U.S. output. Base metals prices are for the most part edging
higher, the exceptions are aluminium that is lingering around Market Updates
recent lows and copper that is struggling to get any follow through MCX Date Date % Chg
buying after Thursdays attempted rebound. 15-06-17 16-06-
17
Fundamental News GOLD 28754 28690 -0.27%
Gold struggled, however, to capitalize on the slump in the dollar as SILVER 38712 38481 -0.62%
investor sentiment on the precious metal remained negative, after COPPER 367.10 365.45 -0.44%
the Federal Reserve on Wednesday signaled that an additional CRUDE 2877 2879 +0.07%
rate hike may be appropriate. ALUMINIUM 120.75 120.25 -0.37%
LEAD 135.30 135.35 -0.11%
Oilfield services firm Baker Hughes reported on Friday that the NICKEL 574 574.70 +0.23%
number of U.S. oil drilling rigs in operation rose by 6 to 747 in the ZINC 162.10 162.30 +0.22%
week to June 16, stoking fears that the rising U.S average. NATURALGAS 197.90 195.90 -0.86%
COMEX Date Date % Chg
15-06-17 16-06-17
Important Data GOLD 1254.60 1255.79 +0.09%
SILVER 16.716 16.649 -0.40%
Time Currenc Event Forecast Previous CRUDE 44.46 44.70 +0.54%
y COPPER 2.566 2.570 +0.18%
$ INDEX 97.50 97.16 -0.35%
RBA Gov Lowe USDINR 64.5925 64.5200 -0.11%
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 Gold and Silver

GOLD COMEX GOLD

Gold showed bearish movement and found the important

support level of 28675. Now if it will close below the
PIVOT S1 S2 R1 R2
S important support level of 28600 then 28350 will act as
MCX 28600 28350 29000 29300 next support level. On the other hand 29000 will act as a
COME 1245 1240 1260 1265 major resistance level.

SILVER COMEX SILVER

Silver showed bearish movement and found the

PIVOTS S1 S2 R1 R2 important support level of 38430. Now if it will close
below the important support level of 38400 then 37800
MCX 38400 37800 39000 39500
will act as next support level. On the other hand 39000
COMEX 16.60 16.50 16.90 17.10
will act as a major resistance level.

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 Crude and Copper

CRUDE COMEX CRUDE

Crude showed sideways movement and found the

PIVOTS S1 S2 R1 R2 important support level of 2871. Now if it will close
below the important support level of 2850 then 2800 will
MCX 2850 2800 2950 3000
act as next support level. On the other hand 3000 will
COMEX 43.00 41.00 46.00 47.50
act as a major resistance level.

COPPER COMEX COPPER

Copper showed bearish movement and found the

important support level of 364.30. Now if it will close
PIVOTS S1 S2 R1 R2
below the important support level of 363 then 358 will
MCX 363 358 370 378 act as next support level. On the other hand 370 will act
COMEX 2.5440 2.5200 2.5700 2.6000 as a major resistance level.

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 Other Commodities

PIVOT

COMMODITIE S1 S2 R1 R2 VOLUME OI TREND

S

ALUMINIUM 118 116 122 124 3207 2468 Bearish

LEAD 133 131 137 139 11311 1929 Bearish

NICKEL 565 550 580 590 20374 40908 Bullish

ZINC 160 158 163 165 19111 4221 Bullish

NATURAL GAS 193 190 200 205 41444 4809 Bearish

LME INVENTORY
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Due to Summer
COMMODITIES Bank Holiday NO LME
12/06/2017 DATA TODAY
13/06/2017 14/06/2017 15/06/2017 16/06/2017

ALUMINIUM - -6125 -6525 -1900 -3300

COPPER - -3725 -3225 -4215 -50

LEAD - -300 -200 -75 -725

NICKEL - -48 +630 +534 -35

ZINC - -1125 -2475 -1800 -2125

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 Agri Commodity Updates

GUARSEED
Guarseed showed bullish movement and found the
important resistance level of 3570. If prices sustains
below 3450 level in next trading session then this
momentum can take prices to 3400 level. If it breaks
the resistance level of 3600 then 3650 will act as
next resistance level.

PIVOTS S1 S2 R1 R2

3450 3400 3600 3650

JEERA
Jeera showed bullish movement today and found
the resistance level of 19100. If prices sustain below
18800 levels in next trading session then this
momentum can take prices to 18500 levels. If it
breaks the resistance level of 19100 then 19300 will
act as next resistance level.

PIVOTS S1 S2 R1 R2

18500 18300 19000 19200

SOYABEAN
Soyabean showed sideways movement and found
the important support level of 2780. If prices sustain
below 2770 level in next trading session then this
bearish momentum can take prices to 2740 level. If
it breaks the resistance level of 2820 then 2860 will
act as next resistance level.

PIVOTS S1 S2 R1 R2

2770 2740 2820 2860

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 Intraday Super Star
(Premium Section)

CALL: SELL CRUDE BELOW 2860 TARGETS 2830/2800 SL 2901.

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 Multibagger Call
(Premium Section)

CALL: SELL ALUMINIUM BELOW 120 TARGETS 119/118 SL 121.50.

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 Trifid Special
(Premium Section)

CALL: SELL SILVER BELOW 38550 TARGETS 38250/37950 SL 39000.

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