Mcx daily report

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Daily MCX News letter

28th April 2015

DAILY MCX News letter




PRECIOUS METALS:

Gold futures traded green in last trading session, price breaks the last

week consolidation and now price is in nearest resistance level. Gold

closed at Rs.27083 and made day high 27135 our expectation price may

go upside, follow the buy on dips for today’s trading session.

ENERGY

MCX Crude oil futures short term trend is bullish closed at 3611. Crude

oil futures made day high at 3693 and low at Rs.3601. Losses below

those levels on closing basis can lead to some more decline towards Rs

3550. Meanwhile gains above Rs 3700 will bring fresh long holdings. For

today’s trading session follow the strategy sell on high.

BASE METALS

MCX Copper future traded in green for last couple of trading days, and

touches the resistance level at 390. Further breakout will give the

conformation of price hike. Copper is consolidating in a range our

expectation price may go downside. Now it’s in nearest resistance level

further breakout will give the conformation of copper trend, for today’s

trading session traders may follow the sell on high.

MARKET WRAP




PIVOT POINT

GOLD

SUPPORT1: 26840

SUPPORT2: 26600

RESISTANCE1: 26260

RESISTANCE2: 27490

SILVER

SUPPORT1: 36450

SUPPORT2: 35800

RESISTANCE1: 37700 RESISTANCE2: 38350

CRUDE OIL

SUPPORT1: 3540

SUPPORT2:3495

RESISTANCE1: 3695

RESISTANCE2: 3715

COPPER SUPPORT1: 383

SUPPORT2: 380

RESISTANCE1: 370

RESISTANCE2: 388




CALL: BUY GOLD JUN ABOVE 27150 TARGETS 27300, 27550 STOPLOSS

26900.

PICK OF THE DAY




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