Daily Market Reflection
2st May 2016
COMDEX
Market Outlook
Gold was bullish on the last trading session of the month and broke the
two year resistance of 30000 and closed above it. The volume in gold was
higher as compare to last trading sessions and also the open interest
which show the higher interest towards the bullishness of gold whereas
in the silver after twenty month market closed around 42000 in the July
contract but the upside interest in volume and open interest was not as
high as in gold. It seems gold is more bullish as compare to silver. Crude
oil was looking bullish and trading on the highest levels of 2016 and
crossed 3100 but was not able to hold and closed below it.
Fundamental Factors
Falling value of US Dollar supporting the uptrend of gold. Us
Dollar is Trading on the ten months lows. Which makes gold
cheaper for foreign buyers.
Supply in crude oil was getting weak and the production in US
was falling which helping the Crude price to boost which also
supported by weak dollar.
China positive data was helping copper to rise but in recent
week falling industrial demand effected the metal and price is
not rising as it were.
Important Data
Time
Currency
Event
Forecast
Previous
All Day
CNY
Bank Holiday
All Day
GBP
Bank Holiday
7:00am
AUD
NAB Business
Confidence
12:45pm
EUR
Spanish Manufacturing
PMI
53.0
53.4
7:15pm
USD
Final Manufacturing
PMI
51.0
50.8
7:30pm
USD
ISM Manufacturing
PMI
51.6
51.8
Market Updates
MCX
Date
28-04-16
GOLD
29686
SILVER
41044
CRUDE
3064
COPPER
331.25
LEAD
117.45
ZINC
127.10
ALUMINIUM 110.90
NICKEL
619.60
NATURALGAS 139.30
COMEX
Date
28-04-16
GOLD
1274.60
SILVER
17.76
CRUDE
46.04
COPPER
2.2328
USDINR
66.40
$ INDEX
93.76
Date
29-04-16
30266
41566
3035
338.60
120.15
129.05
111.55
631.70
143.80
Date
29-04-16
1292.92
17.80
45.94
2.2675
66.58
93.02
% Chg
+1.95%
+1.27%
-0.95%
+2.22%
+2.30%
+1.53%
+0.59%
+1.95%
+3.23%
% Chg
+2.27%
+1.69%
-0.02%
+2.22%
+0.04%
-0.76%
Our Previous calls update
Intraday super star
6
Date
Commodity
Entry
Exit
P/L
30000
30100
3000
Date
Commodity Entry
28/04 SILVER
42000
Trifid special
Exit
42300
P/L
9000
Date
28/04
Exit
3050
P/L
10000
28/04 GOLD
Multibagger
Commodity
CRUDE
Entry
3150
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Gold and Silver
GOLD
COMEX GOLD
PIVOTS S1
MCX
30150
COMEX 1284
S2
30000
1275
R1
30400
1297
R2
30600
1305
SILVER
GOLD opened gap up and maintains on higher levels, in
both MCX and COMEX it broke its daily resistance of
30161 and 1284.13 respectively and also closed above it,
maintaing on higher note showed further buying.
COMEX SILVER
PIVOTS
S1
S2
R1
R2
Silver also opened on higher note and made a new high of
MCX
COMEX
42000
17.69
41500
17.50
42650
17.95
43000
18.50
41869, but as compared to gold silver showed less strength
on higher side and closed on 41566.
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Crude and Copper
CRUDE
COMEX CRUDE
MCX Crude trade above 3000 on early morning session but
PIVOTS
S1
S2
R1
R2
after made a high of 3115 it dragged towards the support
MCX
3000
2950
3065
3115
level of 3000 in evening session, but daily trend is bullish
COMEX
46.20
46.60
45.50
44.90
so further buying may be seen.
COPPER
COMEX COPPER
PIVOTS
S1
S2
R1
R2
Gap up opening in copper and maintain on higher note
MCX
337
335
340.70
342.40
towards the neck line of inverse head and shoulder pattern
COMEX
2.2565
2.2450
2.2815
2.2930
on daily chart and closed around it, if it maintain above 344
breakout will expected.
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Other Commodities
PIVOTS
COMMODITIES
S1
S2
R1
R2
OI
VOLUME
TREND
ALUMINIUM
111
110.50
112.20
113
3576
6408
Bullish
LEAD
119.15
118.50
120.80
121.50
1818
11244
Bullish
NICKEL
626.30
620
635.70
640
11959
28058
Bullish
ZINC
128.30
127.40
129.80
130.50
5248
14566
Bullish
NATURAL GAS
141.70
139.20
147
149
7257
75723
Bullish
LME Inventory
Commodities
27/04/16
28/04/16
29/04/16
ALUMINIUM
-7075
-4250
-6750
COPPER
-275
-1475
-1225
LEAD
+50
-375
+75
NICKEL
-1704
-600
+1686
ZINC
-225
-1175
-2525
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Agri Commodity Updates
CARDAMOM
Cardamom on hourly chart made a head and shoulder
pattern on bull trend and so some correction expected
below the breakout of support level i.e. 766.50 upto the
next support level of 755.
PIVOTS
S1
S2
R1
R2
766.50
755
782.40
793.10
SOYABEAN
Soyabean on daily chart on a correction phase for
selling side so sustaining below 3900 may drag it
towards the support level of 3870.
PIVOTS
S1
S2
R1
R2
3910
3870
3965
4005
RMSEED
Rmseed on daily chart made a double top pattern and
consolidated on lower levels on hourly chart, so below
4360 it may drag towards the next support of 4330.
PIVOTS
S1
S2
R1
R2
4360
4325
4425
4456
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Intraday Super Star
(Premium Section)
CALL: BUY ZINC ABOVE 129.70 TARGETS 130.30/131 SL 129.
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Multibagger Call
(Premium Section)
CALL: BUYCOPPER ABOVE 341 TARGETS 345/349 SL 337.
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Trifid Special
(Premium Section)
CALL: BUY GOLD ABOVE 30375 TARGETS 30600 SL 30100.
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