Daily Market Reflection

4th May 2017

-
Market Outlook COMDEX
Gold prices struggled near the prior session's three-week lows on
Wednesday, as market players looked ahead to the outcome of
the Federal Reserve's policy meeting for further clues on the
timing of the next rate hike. Oil prices rebounded from near 2017
lows on Wednesday after preliminary data showed a much
higher-than-expected fall in U.S. crude stocks, reviving bullish
sentiment about easing oversupply. Base metals prices are down
an average of 0.7% Wednesday with zinc, copper and lead prices
down around 1%, with three-month copper prices at $5,751 per Market Updates
tonne. MCX Date Date % Chg
2-05-17 3-05-17
Fundamental News GOLD 28575 28472 -0.38%
Gold bounced back from a three-week low, as uncertainty SILVER 39109 38573 -1.26%
regarding the tone of the Federal Reserve statement, due to be COPPER 376.20 362.25 -3.68%
released on Wednesday, alongside an interest rate decision, CRUDE 3075 3067 -0.65%
ALUMINIUM 123.70 123.15 -0.48%
capped losses.
LEAD 144.20 140.85 -2.36%
U.S. drillers last week added rigs for the 15th week in a row, NICKEL 614.40 595 -3.09%
ZINC 170.05 165 -3.03%
implying that further gains in domestic production are ahead.
NATURALGAS 204.80 207.30 +1.32%
The U.S. rig count rose by 9 to 697, extending an 11-month
drilling recovery to the highest level since August 2015. COMEX Date Date % Chg
2-05-17 3-05-17
GOLD 1257.00 1249.28 -0.61%
SILVER 16.831 16.587 -1.45%
Important Data CRUDE 49.66 47.70 +0.08%
COPPER 2.636 2.541 -3.59%
Time Currency Event Foreca Previous $ INDEX 98.78 98.95 +0.17%
st USDINR 64.4525 64.3650 -0.14%
.1
6:00pm CAD Trade Balance 0.3B -1.0B
OUR PREVIOUS CALLS UPDATE
Unemployment
6:00pm USD 246K 257K Intraday super star
Claims
Date Commodity Entry Exit P/L
Prelim Nonfarm
6:00pm USD 0.1% 1.3% 2/05 ZINC - - -
Productivity q/q
Multibagger
Prelim Unit Labor
6:00pm USD 2.5% 1.7% Date Commodity Entry Exit P/L
Costs q/q
3/05 LEAD 143.80 141.80 +1000
0
6:00pm USD Trade Balance -44.9B -43.6B Trifid special
Date Commodity Entry Exit P/L
7:30pm USD Factory Orders m/m 0.6% 1.0% 2/05 GOLD 28620 28500 +1200
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 Gold and Silver

GOLD COMEX GOLD

Gold showed bearish movement and found the important

support level of 28405. Now if it will close below the
PIVOT S1 S2 R1 R2
S important support level of 28400 then 28000 will act as
MCX 28300 28000 28700 29000 next support level. On the other hand 28700 will act as a
COME 1244 1240 1255 1260 major resistance level.

SILVER COMEX SILVER

Silver showed bearish movement and found the

PIVOTS S1 S2 R1 R2 important support level of 38480. Now if it will close
below the important support level of 38300 then 37500
MCX 38300 37500 39000 39600
will act as next support level. On the other hand 39000
COMEX 16.30 16.00 16.80 17.10
will act as 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 3045. Now if it will close
below the important support level of 3040 then 3000 will
MCX 3040 3000 3100 3150
act as next support level. On the other hand 3100 will
COMEX 47.00 45.50 48.50 50.00
act as a major resistance level.

COPPER COMEX COPPER

Copper showed bearish movement and found the

important support level of 362.70. Now if it will close
PIVOTS S1 S2 R1 R2
below the important support level of 360 then 355 will
MCX 360 355 370 375 act as next support level. On the other hand 370 will act
COMEX 2.4840 2.4350 2.5700 2.6720 as a major resistance level.

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 Other Commodities

PIVOT

COMMODITIE S1 S2 R1 R2 VOLUME OI TREND

S

ALUMINIUM 121 118 125 127 4889 2446 Bearish

LEAD 140 138 142 145 13496 1601 Bearish

NICKEL 585 570 610 625 38114 38189 Bearish

ZINC 162 160 167 168 19854 3596 Bearish

NATURAL GAS 200 195 210 215 35933 6766 Bullish

LME INVENTORY
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Due to Summer
COMMODITIES Bank Holiday NO LME
26/04/2017 DATA TODAY
27/04/2017 28/04/2017 2/05/2017 3/05/2017

ALUMINIUM -13100 -3625 -6825 -12050 -16225

COPPER -775 -900 -850 -6050 +31250

LEAD -575 -350 -125 +4150 -725

NICKEL -834 -336 +642 -462 +1290

ZINC -925 -825 -875 -825 -3500

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 Agri Commodity Updates

GUARSEED
Guarseed showed bearish movement and found the
important support level of 3665. If prices sustains
below 3665 level in next trading session then this
momentum can take prices to 3600 level. If it breaks
the resistance level of 3750 then 3800 will act as
next resistance level.

PIVOTS S1 S2 R1 R2

3665 3600 3750 3800

JEERA
Jeera showed sideways movement today and found
the support level of 18200. If prices sustain below
18200 levels in next trading session then this
momentum can take prices to 18000 levels. If it
breaks the resistance level of 18500 then 18700 will
act as next resistance level.

PIVOTS S1 S2 R1 R2

18200 18000 18500 18700

SOYABEAN
Soyabean showed bearish movement and found the
important support level of 2830. If prices sustain
below 2830 level in next trading session then this
bearish momentum can take prices to 2800 level. If
it breaks the resistance level of 2870 then 2900 will
act as next resistance level.

PIVOTS S1 S2 R1 R2

2830 2800 2870 2900

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 Intraday Super Star
(Premium Section)

CALL: SELL LEAD BELOW 140.80 TARGETS 139.80/138.80 SL 142.30.

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 Multibagger Call
(Premium Section)

CALL: SELL COPPER BELOW 361.50 TARGETS 358.50/355.50 SL 365.50.

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 Trifid Special
(Premium Section)

CALL: SELL GOLD BELOW 28400 TARGET 28300/28200 SL 28550.

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