Mcx daily report

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Daily MCX News letter

16th April 2015

DAILY MCX News letter




PRECIOUS METALS:

Gold futures Closed at Rs.26737, made day high at 26765. MCX Gold

bounce from its Support level, our expectation price may give some

correction to upper side. Our strategy buy on dips for today’s trading

session.

ENERGY

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

3505 and closed at Rs.3496.International Energy Agency (IEA) said

crude oil production by OPEC soared last month as member countries

continued to fight for market share. However, the report also said there

was a notable acceleration in oil demand in the first quarter of the year

amid a steadily improving global economic backdrop US shale oil

production has peaked. Crude oil prices breaks its resistance level, now

trend is bullish for today follow the strategy buy on dips.

BASE METALS

MCX Copper April closed at Rs 375.50 per kg, and made day high at Rs.

375.90.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: 26540

SUPPORT2: 26300

RESISTANCE1: 27910

RESISTANCE2: 27140

SILVER

SUPPORT1: 35950

SUPPORT2: 35300

RESISTANCE1: 37150 RESISTANCE2: 37800

CRUDE OIL

SUPPORT1: 3450

SUPPORT2:3405

RESISTANCE1: 3555

RESISTANCE2: 3605

COPPER SUPPORT1: 368

SUPPORT2: 371

RESISTANCE1: 379

RESISTANCE2: 383




CALL: BUY GOLD JUN ABOVE 26765 TARGETS 26865, 26965 STOPLOSS

26565.

PICK OF THE DAY




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