Daily Market Reflection

24th May 2016

Market Outlook

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Gold showed bearish moment but 29600 is acting as strong support if

gold will close below it then bearishness can be continued otherwise
market can move up to 30000 again. US strong economic data is also
creating pressure on gold. Selling below 29600 can be profitable in
gold. Crude oil was bullish but from last week its movement is
sideways. In coming session it can break the upper resistance level
and could be moved towards the upper zone. Buying strategy from
upper level would be a profitable strategy in crude oil.
Fundamental News
Fundamental Factors
Gold held near three-week lows early Monday on
firmer Asian stocks and growing expectations that the
US Federal Reserve will hike interest rates as early as
June.

Brent oil prices fell for a fourth consecutive session

on Monday after Iran insisted it would not freeze
crude output, returning investor attention to a global
glut.

Important Data
Time

All Day

Currency

Event

EUR

Eurogroup Meetings

GBP

Public Sector Net

Borrowing

Forecast

Previous

COMDEX

Market Updates
MCX
Date
20-05-16
GOLD
29691
SILVER
39834
CRUDE
3281
COPPER
308.40
ALUMINIUM 104.10
LEAD
112.65
NICKEL
572.10
ZINC
125.50
NATURALGAS 138.70
COMEX
Date
20-05-16
GOLD
1252.90
SILVER
16.32
CRUDE
48.41
COPPER
2.056
USDINR
67.5625
$ INDEX
95.29

Date
23-05-16
29684
39665
3251
309.35
104.60
111.40
564.30
123.65
139.30
Date
23-05-16
1250.95
16.440
47.94
2.054
67.5700
95.23

% Chg
-0.02%
-0.42%
-0.91%
+0.31%
+0.48%
+0.48%
-1.36%
-1.47%
+0.43%
% Chg
-0.16%
-0.56%
-0.97%
-0.07%
+0.01%
-0.06%

Our Previous calls update

2:00pm
2:30pm

EUR

6.3B

4.2B

German ZEW Economic

Sentiment

12.1

11.2

2:30pm

EUR

ZEW Economic
Sentiment

23.4

21.5

7:30pm

USD

New Home Sales

521K

511K

7:15pm

USD

Richmond
Manufacturing Index

14

Intraday super star

Date

Commodity

Entry

Exit

P/L

23/05

ZINC

125.20

123.50

8500

Date Commodity
23/05 NICKEL
Trifid special

Entry
571

Exit
564

P/L
1750

Date
20/05

Entry
113.35

Exit
111.80

P/L
7750

Multibagger

Commodity
LEAD

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Gold and Silver

GOLD

COMEX GOLD

PIVOTS S1
MCX
29550
COMEX 1242

S2
29420
1235

R1
29855
1253

R2
30000
1260

SILVER

Gold today continue on lower note and found support of

29600. Sustaining below 29570 again drag it upto the
support level of 29350. On higher side 29900 will act as
strong resistance level.
COMEX SILVER

PIVOTS

S1

S2

R1

R2

SILVER over all showed sideways movement all the day.

MCX
COMEX

39350
16.25

39000
16.00

39860
16.55

40265
16.75

Now bearishness may again drag it upto the support level of

39000. On the other hand 40000 will act as major resistance
level above only some correction may be seen.

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Crude and Copper

CRUDE

COMEX CRUDE

MCX Crude opened on lower note and drag towards the

PIVOTS

S1

S2

R1

R2

support level of 3200 and traded on sideways. Now

MCX

3205

3165

3270

3310

bullishness may bounce it towards the resistance level of

COMEX

47.25

46.65

48.25

48.80

3350.

COPPER

COMEX COPPER

PIVOTS

S1

S2

R1

R2

Copper showed bullish movement in morning session and

MCX

307

305

311.55

315.90

bearish movement in evening session. Now if it maintain

COMEX

2.0400

2.0300

2.0550

2.0650

above 312 then 315 will act as next resistance level. On

other hand 308 will act as important support level.

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Other Commodities
PIVOTS
COMMODITIES

S1

S2

R1

R2

VOLUME

OI

TREND

ALUMINIUM

104

103

105

106

6203

3062

Bearish

LEAD

111

110

112

113

12658

5498

Bearish

NICKEL

560

550

570

580

29248

25168

Bearish

ZINC

123

122

124.20

125.20

21722

4086

Sideways

NATURAL GAS

136

132

140

144

48713

5679

Bearish

LME Inventory
Commodities

17/05/2016

18/05/2016

19/05/2016

20/05/2016

23/05/2016

ALUMINIUM

-2050

-4600

-5000

-5575

-5300

COPPER

-2275

+100

+1750

-2875

-725

LEAD

-175

+4800

-200

-150

-125

NICKEL

-606

-1680

+1482

-1104

-1668

ZINC

-575

-1000

-1125

-600

-975

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Agri Commodity Updates

JEERA
Jeera traded sideways to bearish movement all the day
and took the important support around 16280. Now if it
sustain below 16250 then 16000 will act as next support
level. On other hand 16550 will act as major resistance
level.

PIVOTS

S1

S2

R1

R2

16250

16000

16550

16750

TURMERIC
Turmeric traded on bearish note and found the support
level of 7940. And now on lower side 7940 will act as
important support level below which it will drag down
towards the support level of 7800. On higher side some
correction pulls it towards the resistance level of 8070.

PIVOTS

S1

S2

R1

R2

7940

7850

8050

8130

GUARSEED
Guarseed showed bullish movement all the day and
trade in the range of 3150-3075. Now if it maintains
above 3140 then 3200 will be next resistance level.
And on lower side 3060 will act as major support level.

PIVOTS

S1

S2

R1

R2

3065

3030

3140

3185

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Intraday Super Star

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Multibagger Call
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Trifid Special
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