Mcx daily report

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Daily MCX News letter

30th April 2015

DAILY MCX News letter




PRECIOUS METALS:

Gold futures traded in green from last three trading session. Nearest

resistance are 27480. Gold closed at Rs. 27238 and made day high

27274. There is no any change in Fed interest rate decision which will

not give any impact in bullion. Short term trend is bullish, our

expectation price may go upside, follow the buy on dips for today’s

trading session. Keep eye on today’s upcoming data.

ENERGY

MCX Crude oil futures short term trend is bullish closed at 3755. We

have clear seen the impact of crude oil inventory and its made day high

at 3771 and low at Rs.3590. For today’s trading session follow the

strategy buy on dips.

BASE METALS

MCX Copper future traded in a range for last couple of trading days,

copper resistance level at 399. Further breakout will give the

conformation of price hike. Copper closed at Rs.390.60. made high at

391.35. For today’s trading session traders may follow the sell on high

strategy.

MARKET WRAP




PIVOT POINT

GOLD

SUPPORT1: 26980

SUPPORT2: 27080

RESISTANCE1: 27285

RESISTANCE2: 27480

SILVER

SUPPORT1: 37130

SUPPORT2: 36920

RESISTANCE1: 37550 RESISTANCE2: 37920

CRUDE OIL

SUPPORT1: 3702

SUPPORT2:3640

RESISTANCE1: 3805

RESISTANCE2: 3855

COPPER SUPPORT1: 394

SUPPORT2: 390

RESISTANCE1: 399

RESISTANCE2: 403




CALL: BUY GOLD JUN ABOVE 27280 TARGETS 27400, 27550 STOPLOSS

27050.

PICK OF THE DAY




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