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PPP
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28- OCT.-2014
DAILY MCX NEWSLETTER
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BULLION:
MCX Gold Dec. as seen in the weekly chart above has opened the week at 27,219 levels and in the
starting of the week prices rallied sharply and made a high of 27,640 levels. In the mid of the week
prices could not able to sustain near to the resistance zone of 27,650 27,700 levels and corrected
sharply toward 27,090 levels. In this week prices closed below the previous weeks closing of
27,256 levels and finally closed 0.29% lower at 27,176 levels. Technically, as per the candlestick
pattern prices have formed Inverted Hammer candlestick pattern indicating down Trend for the
coming trading sessions.
ENERGY:
MCX Crude oil Nov. as seen in the weekly chart above has opened the week at 5,080 levels and
made a high of 5,118 levels. During this week as expected priced corrected sharply and made a low
of 4,945 levels. In the week prices closed below the previous weeks closing of 4,968 levels and
finally closed 2.30% lower at 4,945 levels. Technically, as per the candlestick pattern prices have
formed Bearish candlestick pattern indicating weakness in the prices.
BASE METAL:
Base metals, we maintain our mixed approach in the segment wherein we like nickel and
zinc for going long. For Aluminum, as said in morning, the trend is bullish backed by its
intrinsic fundamentals however the commodity looks a bit overbought and thus we
recommend buying only on declines today. Copper could also be a buy however, gains may
remain capped following weaker Chinese monthly import data.
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GOLD (5 DEC.)
SILVER (5 DEC.)
BULLION
OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 38500, 39000
SUPPORT : - 37700, 37400
STRATEGY : - SELL ON HIGH
OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 27350, 27500
SUPPORT : - 27050, 26800
STRATEGY : - SELL ON HIGH
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CRUDEOIL (19 NOV.)
NATURAL GAS (24 NOV.)
ENERGY
OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 228.00, 232.00
SUPPORT : - 220.00, 216.00
STRATEGY : - SELL ON HIGH
OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 5050, 5100
SUPPORT : - 4900, 4850
STRATEGY : - SELL ON HIGH
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COPPER (28 NOV.)
LEAD (31 OCT.)
BASE METAL
OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 124.50, 125.50
SUPPORT : - 122.50, 121.50
STRATEGY : - SELL ON HIGH
OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 420.00, 424.00
SUPPORT : - 412.00, 408.00
STRATEGY : - SELL ON HIGH
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ZINC (31 OCT.)
ALUMINUM (31 OCT.)
NICKEL (31 OCT.)
OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 920.00, 950.00
SUPPORT : - 870.00, 850.00
STRATEGY : - SELL ON HIGH
OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 122.50, 123.50
SUPPORT : - 120.00, 119.00
STRATEGY : - SELL ON HIGH
OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 139.50, 140.50
SUPPORT : - 137.50, 136.50
STRATEGY : - SELL ON HIGH
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GOLD 1206.21
SILVER 16.906
COPPER 3.007
CRUDEOIL 91.46
PALLANDIUM 767.9
PLATINUM 1281.40
USDINR 61.261
EURUSD 01.2606
USDJPY 107.790
USDCHF 00.9489
GBPUSD 01.6126
USDCAD 01.1242
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