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07- MAY.-2014
DAILY MCX NEWSLETTER
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BULLION:
Silver prices plunged for thesecond time in a row on monthly basis, losing almost 3.5% at the
domestic exchange i.e. MCX and lost almost 3% in the international markets.
Silver prices dropped amid profit booking in the second consecutive month as improvement in U.S.
data led to speculations that the Fed may raise interest rates earlier than anticipated in the future.
Data released during the second half of the month signaled that U.S. index of leading indicators
climbed the most in four months. The Fed's Beige Book released last month illustrated that growth
"had picked up" after "lingering winter weather hampered business activity, but the impact was less
severe than earlier this year." Fed Chair Janet Yellen also said that the central bank would be
delivering policy stimulus for some time to come, where the timing of raising interest rates would
depend on the progress in the labor market and inflation.
ENERGY:
Crude Oil weakness may persist as technical charts are indicating a strong bearish signal, according
to Nadia Simmons, Forex and Oil trading strategist at Sunshine Profits.
In Asia trading on Tuesday, Crude Oil was trading flat with WTI crude OIl for June delivery at
$99.46 a barrel after hitting a high of $100.43. ICE Brent Crude OIl fell to $107.72, a barrel, the lowest
settlement since April 11. Adding to bearish sentiments, last week, crude stocks gained by 3 million
barrels , according to the American Petroleum Institute.

BASE METAL:
MCX Nickel after rising for four weeks started showing exhaustion signs and is trading
close to Rs.1115 at present. Immediate support remains Rs.1106 followed by 1093 whereas
strong resistance is at Rs.1130.
With strong demand side fundamentals for Nickel, prices will trade on a positive note
aided by supply crunch. Also fuelling tensions between Russia and the West will only lead
to additional sanctions on Russia and the..


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GOLD (5 JUN.)




SILVER (5 JULY.)








BULLION
OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 42950, 43200
SUPPORT : - 42300, 42000
STRATEGY : - BUY ON DIPS

OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 29050, 29250
SUPPORT : - 28650, 28450
STRATEGY : - BUY ON DIPS


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CRUDEOIL (19 MAY.)






NATURAL GAS (27 MAY.)








ENERGY
OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 293.00, 297.00
SUPPORT : - 284.00, 280.00
STRATEGY : - BUY ON DIPS

OUTLOOK:
TREND : - BEARISH
RESISTANCE : - 6050, 6100
SUPPORT : - 5970, 5930
STRATEGY : - SELL ON HIGH



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COPPER (30 JUN.)






LEAD (30 MAY.)








BASE METAL
OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 127.50, 128.50
SUPPORT : - 124.50, 123.50
STRATEGY : - SELL ON HIGH

OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 412.00, 415.00
SUPPORT : - 405.00, 402.00
STRATEGY : - SELL ON HIGH



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ZINC (30 MAY.)





ALUMINUM (30 MAY.)




NICKEL (30 MAY.)








OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 1122.00, 1130.00
SUPPORT : - 1105.00, 1095.00
STRATEGY : - BUY ON DIPS

OUTLOOK:
TREND : - BEARISH
RESISTANCE : - 107.00, 108.00
SUPPORT : - 104.00, 103.00
STRATEGY : - SELL ON HIGH

OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 124.50, 125.50
SUPPORT : - 121.50, 120.50
STRATEGY : - SELL ON HIGH



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GOLD 1311.87
SILVER 19.663
COPPER 3.054
CRUDEOIL 100.06
PALLANDIUM 814.80
PLATINUM 1454.10

USDINR 60.2750
EURUSD 01.3927
USDJPY 101.602
USDCHF 00.8739
GBPUSD 01.6975
USDCAD 01.0888



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