Daily Market Reflection

24th March 2017

Market Outlook COMDEX

Gold prices edged lower on Thursday, pulling back from
the prior session's three-week high as markets looked
ahead to a key health care vote in Congress later in the
day. Oil prices climbed off four-month lows on Thursday
but the recovery was cautious with investors fretting that
OPEC-led supply cuts were not yet reducing record U.S.
crude inventories. Base metals prices have become
choppier in recent weeks and the upsides do seem
capped by overhead selling/supply, but dips are also Market Updates
tending to be short-lived, even if some have been quite MCX Date Date % Chg
severe. 22-03- 23-03-
Fundamental News
17 17
The precious metal is sensitive to moves in U.S. rates,
GOLD 28900 28800 -0.29%
which lift the opportunity cost of holding non-yielding SILVER 41242 41320 +0.21
assets such as bullion. A gradual path to higher rates is %
seen as less of a threat to gold prices than a swift series COPPER 381.90 384.20 +0.60
of increases. %
CRUDE 3168 3144 -0.63%
Global stockpiles have continued rising since then. On ALUMINIUM 125.40 125.85 +0.36
Wednesday, data from the U.S. Energy Information %
Administration showed U.S. inventories jumped by a LEAD 154.70 154.70 -0.03%
bigger-than-expected 5 million barrels last week to NICKEL 658.90 653.20 -0.79%
533.1 million. ZINC 186.70 184.10 -1.37%
NATURALGAS 198.20 197.90 -0.15%
Important Data COMEX Date Date % Chg
22-03- 23-03-
17 17
Time Currenc Event Forecas Previous GOLD 1249.70 1246.2 -0.28%
y t 5
French Flash SILVER 17.578 17.595
+0.13
%
1:30pm EUR Manufacturing 52.4 52.2
CRUDE 48.04 47.79 -0.50%
PMI OUR PREVIOUS CALLS UPDATE
French Flash Intraday super star
1:30pm EUR 56.2 56.4
Services PMI Dat Commodit Entry Exit P/L
FOMC Member e y
USD 23/3 COPPER - - -
5:30pm Evans Speaks
Multibagger
6:00pm CAD CPI m/m 0.2% 0.9% Dat Commodit Entry Exit P/L
e y
Core Durable 23/3 GOLD 2893 2879 -
6:00pm USD Goods Orders 0.5% 0.0% 0 0 1400
m/m 0
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USD 1.1% 2.0%
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6:00pm Orders m/m
e y
 Gold and Silver

GOLD COMEX GOLD

Gold showed sideways to bullish movement and

PIVOT S1 S2 R1 R2 found the important resistance level of 28950.
S Now if it will sustain below the important support
MCX 28800 28500 29000 29200 level of 28750 then 28500 will act as next
COME 1240 1225 1255 1265 support level. On the other hand 29000 will act as
a major resistance level.
SILVER COMEX SILVER

Silver showed bullish movement and found the

PIVOTS S1 S2 R1 R2 important resistance level of 41500. Now if it will
MCX 40900 40400 41500 41800 sustain below 41000 then 40500 will act as next
support level. On the other hand 41900 will act as
COMEX 17.35 17.20 17.70 17.90
a major resistance level.

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 Crude and Copper

CRUDE COMEX CRUDE

Crude showed bearish movement and found the

PIVOTS S1 S2 R1 R2 important support level of 3130. Now if it will
MCX 3100 3050 3190 3230 close below the important support level of 3100
then 3050 will act as next support level. On the
COMEX 47.20 46.50 48.40 49.00
other hand 3190 will act as a major resistance
level.
COPPER COMEX COPPER

Copper showed sideways to bullish movement

PIVOTS S1 S2 R1 R2 and found the important resistance level of
384.20. Now if it will close above the important
MCX 375 370 385 390
resistance level of 385 then 390 will act as next
COMEX 2.5950 2.5600 2.6300 2.6500 resistance level. On the other hand 380 will act
as a major support level.

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 Other Commodities

PIVO

COMMODITI S1 S2 R1 R2 VOLUME OI TREND

ES

ALUMINIUM 123.50 122 126 127.50 5570 1419 Bearish

LEAD 152 150 157 159 18111 2497 Bearish

NICKEL 650 635 675 690 26519 27870 Bearish

ZINC 181 178 185 188 19839 4335 Bearish

NATURAL GAS 195 190 203.50 207 51339 4788 Bullish

LME
INVENTORY
Due to Summer Bank Holiday NO LME DATA TODAY
COMMODITIE 17/03/2017 20/03/2017 21/03/2017 22/03/2017 23/03/2017
S
ALUMINIUM -11850 -10125 -10850 -10450 -9950

COPPER -1426 -4625 -3125 -5875 -6875

LEAD -125 -125 -400 +175 +175

NICKEL -666 -1434 -876 -234 +462

ZINC -1251 -800 +3750 -1275 -975

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 Agri Commodity Updates

GUARSEED
Guarseed found the important resistance level
of 3910 and showed bullish movement. If
prices sustains below 3850 level in next
trading session then this bearish momentum
can take prices to 3750 level. If it breaks the
resistance level of 3910 then 3980 will act as
next resistance level.
PIVOT S1 S2 R1 R2
S
3850 3800 3950 4000

JEERA
Jeera showed bullish movement today and
found the resistance level of 17900. If prices
sustain above 17900 levels in next trading
session then this bullish momentum can take
prices to 18000 levels. If it breaks the support
level of 17750 then 17600 will act as next
support level.

PIVOT S1 S2 R1 R2
S
17750 17600 17900 18050

SOYABEAN
Soyabean showed sideways movement and
found the important resistance level of 2960.
If prices sustain above 2960 level in next
trading session then this bullish momentum
can take prices to 3010 level. If it breaks the
support level of 2900 then 2850 will act as
next support level.

PIVOT S1 S2 R1 R2
S
2900 2860 2960 3000

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 Intraday Super Star
(Premium Section)

CALL: SELL COPPER BELOW 378 TARGETS 373/368 SL 385.

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 Multibagger Call
(Premium Section)

CALL: BUY ALUMINIUM ABOVE 126 TARGETS 127/128 SL 125.50

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 Trifid Special
(Premium Section)

CALL: SELL NICKEL BELOW 656 TARGETS 646/636 SL 671

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