Mcx daily report(2)

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Daily MCX News letter

17th April 2015

DAILY MCX News letter




PRECIOUS METALS:

Gold futures Closed at Rs.26645, made day high at 26845. MCX Gold is

in nearest resistance level and fall downside and made day low at

Rs.26568.Our expectation price may go downside. Follow the Strategy

Sell on high.

ENERGY

MCX Crude oil futures traded positively yesterday. Made day high at

3580 and closed at Rs.3571. Crude oil trend is bullish and expecting

price may go upside. For today’s trading session follow the strategy buy

on dips.

BASE METALS

MCX Copper April closed at Rs 383 per kg, and made day high at Rs.

383.75. Copper prices gained by almost 2% on MCX, after the

expectations increased that China will provide stimulus to its ailing

industry. The lackluster growth of China is considered as a major reason

that can enforce stimulus measures. Through technically Copper

bounce from its support level, Expectation price may go higher side, for

today’s trading session traders may follow the buy on dips strategy.

MARKET WRAP




PIVOT POINT

GOLD

SUPPORT1: 26440

SUPPORT2: 26200

RESISTANCE1: 26810

RESISTANCE2: 27040

SILVER

SUPPORT1: 35850

SUPPORT2: 35200

RESISTANCE1: 37050 RESISTANCE2: 37700

CRUDE OIL

SUPPORT1: 3510

SUPPORT2:3465

RESISTANCE1: 3605

RESISTANCE2: 3655

COPPER SUPPORT1: 378

SUPPORT2: 375

RESISTANCE1: 386

RESISTANCE2: 390




CALL: SELL GOLD JUN BELOW 26590 TARGETS 26490, 26390 STOPLOSS

26790.

PICK OF THE DAY




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Mcx daily report(2)

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