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06- AUG.-2014
DAILY MCX NEWSLETTER
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BULLION:
Bullion were mostly stable with gold and silver as per latest quote seen at $1292 and $20.23 per
ounce. In India, we saw moderate appreciation in the Rupee as the top Bank kept interest rates
unchanged which indirectly impacted moderate negativity in non-agri commodities. Overall we
hold our morning stance on Bullion wherein we continue to sell the two on small pullbacks while
expectations over better US data to further weigh on the Bullion complex.
ENERGY:
In Energy, oil added modestly yesterday though was largely stable during the afternoon session at
the NYMEX electronic trade. As stated in the morning, initial inventory forecast for oil is depicting a
decline in crude stocks by 1.5 million barrels whereas gasoline stocks too are expected to fall. The
API would release its separate supply data today night (IST). However, overall we hold a negative
view commodity on expected deceleration in demand whereas refinery utilization rate too likely to
drop. While US data and positive US equities may provide some support to the commodity in latter
half, we recommend selling oil on pullbacks today.
BASE METAL:
Base metals, we had a largely buying view in the segment except Nickel though most of them
witnessed good correction in the European hours today, probably a moderate impact of
marginally weaker than expected EU Composite PMI number. Though late session cues from
the US still stand healthy and we advice traders to continue holding long positions whereas
fresh positions can be build on dips. Our top buying metals would be Al, Cu and Zn for the
latter half though maintain selling in Nickel commodity.


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GOLD (5 AUG.)




SILVER (5 SEP.)








BULLION
OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 43700, 44000
SUPPORT : - 43100, 42700
STRATEGY : - SELL ON HIGH

OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 28300, 28500
SUPPORT : - 28000, 27700
STRATEGY : - SELL ON HIGH


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CRUDEOIL (19 AUG.)






NATURAL GAS (26 AUG.)








ENERGY
OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 245.00, 250.00
SUPPORT : - 230.00, 225.00
STRATEGY : - SELL ON HIGH

OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 5970, 6020
SUPPORT : - 5900, 5850
STRATEGY : - SELL ON HIGH



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COPPER (29 AUG.)






LEAD (31 JULY)








BASE METAL
OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 138.00, 139.00
SUPPORT : - 135.50, 134.50
STRATEGY : - SELL ON HIGH

OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 435.00, 438.00
SUPPORT : - 430.00, 426.00
STRATEGY : - SELL ON HIGH



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ZINC (31 JULY)





ALUMINUM (31 JULY)




NICKEL (31 JULY)








OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 1140.00, 1150.00
SUPPORT : - 1120.00, 1110.00
STRATEGY : - SELL ON HIGH

OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 124.00, 125.00
SUPPORT : - 121.50, 120.50
STRATEGY : - SELL ON HIGH

OUTLOOK:
TREND : - CONSOLIDATE
RESISTANCE : - 147.50, 148.50
SUPPORT : - 144.50, 143.50
STRATEGY : - SELL ON HIGH



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GOLD 1289.82
SILVER 19.844
COPPER 3.199
CRUDEOIL 97.56
PALLANDIUM 846.00
PLATINUM 1456.50

USDINR 61.4450
EURUSD 01.3366
USDJPY 102.539
USDCHF 00.9094
GBPUSD 01.6869
USDCAD 01.0963



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