Mcx daily report 20 april

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Daily MCX News letter

20th April 2015

DAILY MCX News letter




PRECIOUS METALS:

The Ministry of Commerce & Industry showed that India's gold imports during

March estimated at USD 4983.60 million in March 2015, up 93.83% over same

month last year. Silver imports surged sharply by whooping 193.73% to USD

561.38 million in March 2015.Gold futures Closed at Rs.26812, made day high at

26840. MCX Gold is in nearest resistance level and fall downside and made day

low at Rs.26568.Our expectation price may go downside. Follow the Strategy Sell

on high.

ENERGY

Crude oil futures continued to rise as a break above $50 per barrel expected for

WTI futures. A supportive undertone in global equities and ideas that China will

continue to stimulate its economy benefitted the commodity. MCX Crude oil

futures made day high at 3554 and closed at Rs.3494. Crude oil trend is bullish

and expecting price may go upside. For today’s trading session follow the strategy

buy on dips.

BASE METALS

MCX Copper April closed at Rs 384 per kg, and made day high at Rs. 386.80.

Bounce from its support level and continue its upside rally. Expectation price may

go higher side, for today’s trading session traders may follow the buy on dips

strategy.

MARKET WRAP




PIVOT POINT

GOLD

SUPPORT1: 26640

SUPPORT2: 26400

RESISTANCE1: 26980

RESISTANCE2: 27210

SILVER

SUPPORT1: 35750

SUPPORT2: 35100

RESISTANCE1: 37000 RESISTANCE2: 37650

CRUDE OIL

SUPPORT1: 3545

SUPPORT2:3500

RESISTANCE1: 3655

RESISTANCE2: 3705

COPPER SUPPORT1: 379

SUPPORT2: 376

RESISTANCE1: 387

RESISTANCE2: 391




CALL: SELL GOLD JUN BELOW 26800 TARGETS 26700, 26600 STOPLOSS

27000.

PICK OF THE DAY




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Mcx daily report 20 april