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Daily Market Reflection

1stAugust 2017

27842 -
Market Outlook COMDEX
Gold prices traded near their highest level in around seven weeks
on Monday, as market players looked ahead to a busy week of
economic data, including the monthly U.S. jobs report. Oil rose on
Monday, putting July on track to become the strongest month this
year, as news of a producers' technical meeting next week added
to bullish sentiment driven by the threat of U.S. sanctions against
OPEC member Venezuela. Despite weaker than expected
Chinese PMI data, the base metals are performing strongly with
prices seeing some follow-through buying after the stronger tone Market Updates
seen last week. MCX Date Date % Chg
28-07-17 31-07-
Fundamental News 17
GOLD 28580 28557 -0.08%
Dollar weakness usually benefits gold, as it boosts the metal's
SILVER 38460 38645 +0.48%
appeal as an alternative asset and makes dollar-priced
COPPER 408.90 410.65 +0.43%
commodities cheaper for holders of other currencies. CRUDE 3192 3183 -0.28%
ALUMINIUM 121.15 122.70 +0.37%
Crude futures briefly rose above $50 overnight for the first time
LEAD 147.75 149 +0.13%
since May after OPEC said it would meet next week to discuss NICKEL 656.90 657.30 -0.39%
why some nations are falling behind on their pledge to cut ZINC 178.00 179.40 +0.53%
production. NATURALGAS 189.50 180 -5.01%
COMEX Date Date % Chg
Important Data 28-07-17 31-07-17
GOLD 1268.40 1266.70 -0.13%
SILVER 16.695 16.786 +0.55%
Time Currenc Event Forecast Previous CRUDE 49.71 49.64 -0.10%
y COPPER 2.875 2.893 +0.63%
$ INDEX 93.20 92.86 -0.36%
2:00pm GBP Manufacturing PMI 54.4 54.3 USDINR 64.4000 64.4100 +0.02%
0
Prelim Flash GDP
2:30pm EUR 0.6% 0.6%
q/q OUR PREVIOUS CALLS UPDATE
Intraday super star
Core PCE Price
6:00pm USD 0.1% 0.1% Date Commodity Entry Exit P/L
Index m/m
31/0 ALUMINIUM - - -
Personal Spending 7
6:00pm USD 0.1% 0.1%
m/m Multibagger
ISM Manufacturing Date Commodity Entry Exit P/L
7:30pm USD 56.4 57.8 31/0 GOLD - - -
PMI
7
Trifid special
Construction
7:30pm USD 0.4% 0.0% Date Commodity Entry Exit P/L
Spending m/m
26/0 SILVER 38450 38750 +9000
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7
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Gold and Silver

GOLD COMEX GOLD

Gold showed bullish movement and found the important


resistance level of 28620. Now if it will close above the
PIVOT S1 S2 R1 R2
S important resistance level of 28650 then 29000 will act
MCX 28300 28000 28650 29000 as next resistance level. On the other hand 28300 will
COME 1260 1255 1271 1280 act as a major support level.

SILVER COMEX SILVER

Silver showed bullish movement and found the important


PIVOTS S1 S2 R1 R2 resistance level of 38820. Now if it will close above the
important resistance level of 39000 then 39500 will act
MCX 38000 37500 39000 39500
as next resistance level. On the other hand 37500 will
COMEX 16.60 16.50 16.90 17.00
act as a major support 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 3214. Now if it will close
below the important support level of 3200 then 3150 will
MCX 3150 3100 3250 3300
act as next support level. On the other hand 3250 will
COMEX 48.00 46.00 50.00 52.00
act as a major resistance level.

COPPER COMEX COPPER

Copper showed bullish movement and found the


important resistance level of 413.85. Now if it will close
PIVOTS S1 S2 R1 R2
above the important resistance level of 415 then 420
MCX 405 400 415 420 will act as next resistance level. On the other hand 400
COMEX 2.8200 2.7800 2.8900 2.9500 will act as a major support level.

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Other Commodities

PIVOT

COMMODITIE S1 S2 R1 R2 VOLUME OI TREND


S

ALUMINIUM 120 119 123.50 125 5144 2214 Bearish

LEAD 147 145 150 152 9591 2033 Bullish

NICKEL 640 625 665 680 26622 16453 Bearish

ZINC 177 175 180 182 16047 5393 Bullish

NATURAL GAS 177 175 183 187 47964 12097 Bearish

LME INVENTORY
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Due to Summer
COMMODITIES Bank Holiday NO LME
25/07/2017 DATA TODAY
26/07/2017 27/07/2017 28/07/2017 31/07/2017

ALUMINIUM +24275 -3425 -4375 -5975 -7775

COPPER -1025 -1600 -1125 -1550 -3600

LEAD -200 -900 +300 -375 -275

NICKEL -102 +900 +42 -1602 -1446

ZINC -575 -950 -225 -325 -100

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Agri Commodity Updates

GUARSEED
Guarseed showed bullish movement and found the
important resistance level of 3650. If prices sustains
below 3550 level in next trading session then this
momentum can take prices to 3500 level. If it breaks
the resistance level of 3650 then 3700 will act as
next resistance level.

PIVOTS S1 S2 R1 R2

3550 3500 3650 3700

JEERA
Jeera showed bearish movement today and found
the support level of 19000. If prices sustain below
19000 levels in next trading session then this
momentum can take prices to 18700 levels. If it
breaks the resistance level of 19400 then 19600 will
act as next resistance level.

PIVOTS S1 S2 R1 R2

19000 18900 19400 19600

SOYABEAN
Soyabean showed sideways movement and found
the important support level of 3020. If prices sustain
below 3000 level in next trading session then this
bearish momentum can take prices to 2950 level. If
it breaks the resistance level of 3070 then 3100 will
act as next resistance level.

PIVOTS S1 S2 R1 R2

3000 2950 3070 3100

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Intraday Super Star
(Premium Section)

CALL: SELL ALUMINIUM BELOW 122 TARGETS 121/120 SL 123.50

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Multibagger Call
(Premium Section)

CALL: BUY SILVER ABOVE 38820 TARGETS 39120/39420 SL 38400.

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Trifid Special
(Premium Section)

CALL: BUY GOLD ABOVE 28630 TARGETS 28730/28830 SL 28480.

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