Currently delay chart up-to 8 minutes

Technical Outlook for evening session 09 May 2014 ( CMP as of 4.00 pm)

Commodity Unit ----------------Support 2 --------Support 1----- CMP----- Resistance1 ---Resistance 2
Gold June’14 Rs/10 gm ---------28330 -----------28440 ---------28550----- 28650---------- 28770
Spot Gold $/oz --------------------1275------------- 1282 ----------1289------- 1295 -----------1303
Silver July’14 Rs /kg-------------- 41000----------- 41300-------- 41675------ 41900 --------42200
Spot Silver $/oz--------------------- 18.84 ------------19 ------------19.18--------- 19.35 --------19.5
Crude Oil May’14 Rs /bbl----------5975 ------------6010---------- 6042--------- 6075 ---------6110
Nymex Crude Oil June’14 $/bbl -----99.6---------- 100.2--------- 100.78------- 101.35 -------102
Natural Gas May’14 Rs /mmbtu -----268 ------------271----------- 274.8-------- 278 -----------282
LME Copper $/tonne------------------ 6590----------- 6645 ----------6726-------- 6785 ----------6825
Copper June’14 Rs /kg---------------- 404-------------- 407---------- 410---------- 413----------- 415
Zinc May’14 Rs /kg ------------------120.3------------- 121.1 ---------122--------- 122.8--------- 123.5
Lead May’14 Rs /kg ------------------123.6 ------------124.5--------- 125.3-------- 126.1--------- 127
Aluminum May’14 Rs /kg -----------102.6 -------------103.5--------- 104.2 -------104.9------- 105.7
Nickel May’14 Rs /kg----------------- 1180------------- 1190---------- 1203.2 -------1215 -------1228






 

Important Events for Today 
Indicator -------------------------------Country Time (IST) Actual Forecast Previous Impact
CPI y/y ---------------------------------China --------7:00am 1.8%---- 2.1%------ 2.4% High
PPI y/y ----------------------------------China ----------7:00am -2.0% -1.8% -2.3% Medium
German Trade Balance--------------- Euro------------- 11:30am 14.8B 16.9B 15.7B Medium
New Loans -----------------------------China ---------------Tentative - 840B 1050B Medium
Manufacturing Production m/m------ UK------------- 2:00pm 0.5% 0.3% 1.0% High
Trade Balance-------------------------- UK --------------2:00pm -8.5B -9.0B -9.1B Medium
NIESR GDP Estimate------------------ UK ------------7:30pm - ---------------- 0.9% Medium
JOLTS Job Openings-------------------- US------------- 7:30pm -------- 4.21M---- 4.17M Medium



Outlook
In the evening session, we expect bullion, base metals and crude oil prices to trade sideways on the back of rise in risk aversion in the market sentiments.
Also, strength in the DX will act as a negative factor for prices.
Further, Jolts job openings data from the US in the evening session will provide further cues to base metals prices.


Gold Silver buy on every dips and hold as per previous call

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