Daily Market Reflection

24thAugust 2017

27842 -
Market Outlook COMDEX
Gold prices held steady near the key $1,300-level on
Wednesday, as market players braced for an annual gathering of
central bankers, where the heads of the Federal Reserve and
European Central Bank are set to deliver speeches on the
outlook for monetary policy and interest rates. Oil prices fell on
Wednesday, weighed down by concerns of oversupply as Libyan
output improves and as U.S. gasoline inventories rose despite
the peak summer driving season. For the most part, base metals
prices are consolidating after their strong gains seen in mid- Market Updates
August or earlier, but up at these higher price levels the metals MCX Date Date % Chg
are likely to have to absorb more selling/pricing, so choppy 22-08-17 23-08-
trading should be expected. 17
GOLD 29105 29164 +0.20%
Fundamental News SILVER 38939 39074 +0.35%
Gold prices have ebbed and flowed ahead of the symposium of COPPER 422.05 421.55 -0.12%
central bankers in Jackson Hole, which includes speeches by CRUDE 3072 3107 +1.14%
ALUMINIUM 131.95 133.95 +1.52%
European Central Bank president Mario Draghi and Federal
LEAD 153.75 151.65 -1.37%
Reserve chair Janet Yellen.
NICKEL 731 750.50 +2.67%
Gasoline stocks however rose by 1.4 million barrels and distillates ZINC 199.60 198.70 -0.45%
gained 2.0 million barrels, both more than expected. Analysts NATURALGAS 188.70 187.80 -0.48%
expected a 3.375 million barrels draw in crude stocks.
COMEX Date Date % Chg
22-08-17 23-08-17
GOLD 1291.00 1293.62 +0.21%
Important Data SILVER 16.982 17.031 +0.29%
CRUDE 47.83 48.24 +0.86%
Time Currenc Event Forecast Previous
COPPER 2.987 2.984 -0.10%
y $ INDEX 93.42 93.15 -0.29%
USDINR 64.1650 64.1225 -0.07%
Second Estimate
2:00pm GBP 0.3% 0.3%
GDP q/q

Prelim Business OUR PREVIOUS CALLS UPDATE

2:00pm GBP 0.2% 0.6%
Investment q/q Intraday super star
Unemployment Date Commodity Entry Exit P/L
6:00pm USD 237K 232K
Claims 23/0 LEAD - - -
8
Existing Home
7:30pm USD 5.55M 5.52M Multibagger
Sales Date Commodity Entry Exit P/L
Mortgage 23/0 ZINC 199 198 +5000
Tentative USD 4.71% 8
Delinquencies
Trifid special
Date Commodity Entry Exit P/L
8:00pm USD Natural Gas Storage 44B 53B 23/0 GOLD - - -
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8
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 Gold and Silver

GOLD COMEX GOLD

Gold showed sideways to bullish movement and found

the important resistance level of 29214. Now if it will
PIVOT S1 S2 R1 R2
S close above the important resistance level of 29300 then
MCX 29000 28800 29500 29800 29500 will act as next resistance level. On the other
COME 1285 1270 1295 1300 hand 28800 will act as a major support level.

SILVER COMEX SILVER

Silver showed sideways to bullish movement and found

PIVOTS S1 S2 R1 R2 the important resistance level of 39145. Now if it will
close above the important resistance level of 39400 then
MCX 38500 38000 39400 40000
40000 will act as next resistance level. On the other
COMEX 16.90 16.75 17.15 17.25
hand 38000 will act as a major support level.

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 Crude and Copper

CRUDE COMEX CRUDE

Crude showed bullish movement and found the

PIVOTS S1 S2 R1 R2 important resistance level of 3109. Now if it will close
above the important resistance level of 3125 then 3200
MCX 3045 3000 3125 3150
will act as next resistance level. On the other hand 3000
COMEX 47.00 45.00 50.00 52.00
will act as a major support level.

COPPER COMEX COPPER

Copper showed bearish movement and found the

important support level of 419.10. Now if it will close
PIVOTS S1 S2 R1 R2
below the important support level of 415 then 410 will
MCX 415 410 427 430 act as next support level. On the other hand 427 will act
COMEX 2.9500 2.9000 2.3000 3.0500 as a major resistance level.

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 Other Commodities

PIVOT

COMMODITIE S1 S2 R1 R2 VOLUME OI TREND

S

ALUMINIUM 132 130 135 137 8877 2775 Bullish

LEAD 150 148 153 155 13357 2018 Bearish

NICKEL 735 720 750 765 57460 10873 Bullish

ZINC 197 195 203 205 22252 7581 Bearish

NATURAL 185 183 190 193 29364 5077 Bearish

GAS

LME INVENTORY
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Due to Summer
COMMODITIES Bank Holiday NO LME
17/08/2017 DATA TODAY
18/08/2017 21/08/2017 22/08/2017 23/08/2017

ALUMINIUM -2825 +3550 +11150 +10500 +5750

COPPER -3200 -4450 -9650 -6000 -6175

LEAD -400 -775 -100 -500 -775

NICKEL -366 -330 -270 +942 +438

ZINC -2000 -675 -175 -700 -500

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 Agri Commodity Updates

GUARSEED
Guarseed showed bullish movement and found the
important resistance level of 4140. If prices sustains
below 4025 level in next trading session then this
momentum can take prices to 3975 level. If it breaks
the resistance level of 4080 then 4125 will act as
next resistance level.

PIVOTS S1 S2 R1 R2

4025 3975 4080 4125

JEERA
Jeera showed bearish movement today and found
the support level of 19550. If prices sustain below
19500 levels in next trading session then this
momentum can take prices to 19300 levels. If it
breaks the resistance level of 19800 then 20000 will
act as next resistance level.

PIVOTS S1 S2 R1 R2

19500 19300 19800 20000

SOYABEAN
Soyabean showed bullish movement and found the
important resistance level of 3270. If prices sustain
below 3270 level in next trading session then this
bearish momentum can take prices to 3310 level. If
it breaks the resistance level of 3220 then 3170 will
act as next resistance level.

PIVOTS S1 S2 R1 R2

3220 3170 3270 3310

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 Intraday Super Star
(Premium Section)

CALL: BUY LEAD ABOVE 154.30 TARGETS 155.30/156.30 SL 152.80

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 Multibagger Call
(Premium Section)

CALL: SELL ZINC BELOW 197.50 TARGETS 196.50/195.50 SL 199

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 Trifid Special
(Premium Section)

CALL: SELL GOLD BELOW 29050 TARGETS 28950/28850 SL 29200.

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