Technical Levels for Metals and Energy 10 July 2014
Commodity Exchange-- Contract----- Trend--------- S2------- --S1-------- LTP--------- R1--------- R2
Bullions
Gold -------MCX ------Aug----------Sideways----27400----27500----27613----27750----27850
Spot Gold-----------------------------Sideways----1319----1324----1329----1336----1340
Gold Hedge----NCDEX----July----Sideways----25170----25260----25367----25490----25585
Silver----MCX----Sept---------------Sideways----44200----44500----44787----45100----45400
Spot Silver----------------------------Sideways----20.80----21.00----21.17----21.30----21.50
Silver Hedge----NCDEX----Aug----Sideways----4030----4050----4087----4110----4140
Base Metals
LME----Copper-----------------------Sideways----7080----7133----7173----7230----7280
Copper----MCX----Aug-------------Sideways----426----429----431.40----435----438
Zinc----MCX----July----------------Up----133.50----134.50----135.30----136.50----137.60
Lead----MCX----July---------------Down----128.00----129.00----129.95----131.00----132.00
Aluminium----MCX----July----------Sideways----112.50----113.50----114.65----115.50----116.50
Nickel----MCX----July---------------Sideways----1140----1150----1159.10----1170----1185
Energy
Crude----Oil----MCX----July----------Down----6030----6070----6116----6160----6210
Crude----Oil----NYMEX----Aug----Down----100.50----101.10----101.96----102.60----103.50
Crude----Oil----NCDEX----July---------Down----6150----6190----6238----6280----6370
Brent Crude Oil----MCX----------July----Down----6460----6500----6550----6590----6640
Brent Crude Oil----NYMEX----Aug----Down----106.70----107.30----108.15----108.80----109.70
Brent Crude Oil----NCDEX----July----Down----6450----6490----6538----6580----6630
Natural Gas----MCX----July-------------Down----245----248----251.70----253----257
International Commodities
Overview
Bullion
Gold
Spot gold prices rose on Wednesday as the U.S. Federal Reserve's latest meeting minutes did not suggest any hike in U.S. interest rates soon. Prices traded near one week high as the world's largest gold exchange-traded fund, the SPDR Gold Trust reported a second straight session of inflows that took its holdings above 800 tonnes the first time since mid-April.
The gains came on anticipation that the Fed's June meeting minutes would not reveal any significant change in thinking on monetary policy, meaning the central bank was not ready to raise interest rates or hasten the rollback of stimulus measures. Further, the Fed may end its bond buying program after its October meeting if "certain economic conditions remain positive", the minutes said.
On the MCX, gold prices gained by 0.34 percent and closed at Rs.27613/10gms.
Silver
Spot silver prices have been moving in tandem with gold prices and this positive move continued in yesterday’s session as the Fed did not hint about rise in interest rates in the US. Weakness in the dollar index boosted the rally further. However, decline in Nickel prices and the weakness in the overall base metal pack capped the rally.
On the MCX, silver prices declined in contrary to the gains in international markets and closed at Rs.44787/kg
Outlook Bullion
On an intraday basis, we expect gold and silver prices to trade higher as Fed’s is not likely to raise the interest rates soon, although it plans to end the bond buying programme after its October meeting if the economic conditions permit. However, weakness in the DX and increase in the investment flows will act as a positive factor.
On the MCX, gold prices are expected to trade on a positive note in line with strength in international markets.
Energy
Crude Oil
Faltering demand for gasoline in the US, resumption of Libya’s crude output and exports and ease of geo-political tensions have been the prime factors behind recent fall in oil prices (both Brent and WTI).
Libya has restarted the 340,000-barrel-per-day (bpd) El Sharara field after protesters ended a four-month strike, which could double the country's current crude output. The U.S. benchmark has fallen in nine straight sessions, its longest such streak since December 2009. As speculators dumped Brent, its premium over U.S. crude touched its narrowest point in almost a month at $5.15, and then widened to settle at $5.85.
On the MCX, crude prices declined by 1.2 percent in line with weakness in international markets and closed at Rs.6116/bbl.
EIA inventory update
The EIA released its weekly inventories report last night and US crude oil inventories declined by 2.4 million barrels for the week ending on 4th July 2014. Gasoline stocks rose by 0.579 million barrels whereas distillate inventories rose by 0.227 million barrels for the same time period.
Natural Gas
U.S. natural gas futures lost almost 1 percent on Wednesday, the third decline in a row, on forecasts for continued cooler-than-normal weather and expectations for another big storage build. After a record eight consecutive triple-digit injections, the inventory report due tonight is expected to show a buildup of 92 BCF of gas.
Outlook Energy
Crude prices have been falling in the recent weeks as resumption of Libyan exports and ease of Iraq situation has ensured that oil markets remain well supplied. Besides, the reduction in gasoline demand in the US is also raising concerns from the world’s largest consumer of crude.
At the same time, demand for crude has been low from European refiners whose margins have been squeezed by an influx of diesel from the United States, Russia and Asia. All the factors are likely to push crude prices down further in the coming session.
On the MCX, crude prices are expected to trade on a lower note in line with weakness in international markets.
Base Metals
Base metals on the LME traded on a negative note yesterday owing to unfavorable inflation data from China, which posed concerns regarding demand outlook. Also, unfavorable housing data from UK acted as a negative factor.
However, upbeat global market sentiments along with decline in inventories restricted sharp upside in prices.
In the Indian markets, base metals traded lower in line with international markets and Rupee appreciation.
Copper
LME Copper prices traded lower by 0.3 percent yesterday as concerns of demand softening spur after fall in inflation in the biggest consumer, China. Also, weak HPI data from UK exerted downside pressure on prices.
However, rise in risk appetite in market sentiments along with 0.8 percent decline for two days in a row cushioned sharp downside. The red metal touched an intra-day low of $7110/tonne before closing at $7117/tonne on Wednesday.
MCX Copper prices fell by 0.7 percent taking cues from Rupee appreciation and touched an intra-day low of Rs.431.1/kg in the last trading session.
Outlook Base Metals
We except LME Copper prices to trade lower on the back of weak trade balance data from China which has spurred demand concerns in the biggest consumer.
However, upbeat market sentiments along with weakness in the DX will restrict sharp downside in prices.
MCX Copper prices will take cues from trends in international markets.
Important Events for Today
Indicator---------------------------------- Country Time (IST) Actual Forecast Previous Impact
ECB President Draghi Speaks-------------- Euro 12:00am - - - High
Core Machinery Orders m/m--------------- Japan 5:20am -19.50% 0.9% -9.1% Medium
Tertiary Industry Activity m/m-------------- Japan 5:20am 0.9% 1.9% -5.4% Medium
Trade Balance ----------------------------China Tentative 31.6B 37.3B 35.9B High
French Industrial Production m/m ----------Euro 12:15pm - 0.5% 0.3% Medium
New Loans --------------------------------China 10th -14th - 950B 871B Medium
ECB Monthly Bulletin ----------------------Euro 1:30pm - - - Medium
Trade Balance------------------------------ UK 2:00pm - -9.0B -8.9B Medium
Asset Purchase Facility---------------------- UK 4:30pm - 375B 375B High
Official Bank Rate --------------------------UK 4:30pm - 0.5% 0.5% High
MPC Rate Statement ------------------------UK Tentative - - - High
Unemployment Claims -----------------------US 6:00pm - 316K 315K High
Intraday trading tips today
Commodity Trends of Major Commodities
Commodity trends of major commodities are updated daily for Intraday,Short term,Medium term and Long term.Investor/trader can click on respective commodity to get the trend.Rate and analysis are based on MCX exchange. Mamata Infotech Strongly advises to use the signal section for better performance
Short term and Intraday Level of GOLD
Currently Gold is in HOLD LONG position In short term Gold is in strong up trend so hold with stop at 27436 The oscillator is showing BUY signal
Intraday Trend- Buy is advised above 27766.6 with a stop at 27508.8 Below 27459.8 go for sell with a stop at 27717.4
Intraday Resistance of GOLD are 27697.4 : 27767.4 : 27862.8 : 27897.6
Intraday Support of GOLD are 27528.6 : 27458.6 : 27364.3 : 27329.9
Short term and Intraday Level of ALUMINIUM
Currently Aluminium is in HOLD LONG position Aluminium is moving sideways so short term investor better to buy only above 116.25 or hold with stop at 113.55 The Aluminium is now trading is approaching overbought level. The oscillator is on SELL signal and Aluminium is coming down from overbought level
Intraday Trend- Buy is advised above 115.8 with a stop at 114 Below 113.5 go for sell
Intraday Resistance of ALUMINIUM are 115.6 : 116.4 : 120.1 : 122.4 : 125.6 : 128.9 : 131.3 : 133.7
Intraday Support of ALUMINIUM are 113.7 : 112.9 : 109.4 : 107.2 : 104.2 : 101.2 : 99.2 : 97.1
Short term and Intraday Level of COPPER
Currently Copper is in HOLD LONG position Copper is moving sideways so short term investor better to buy only above 438.15 or hold with stop at 431.1 The Copper is now trading is approaching overbought level. The oscillator is on SELL signal and Copper is coming down from overbought level
Intraday Trend- Buy is advised above 434.8 with a stop at 429.2 Below 428 go for sell
Intraday Resistance of COPPER are 434 : 436.1 : 441.8 : 446.2 : 452.4 : 458.6 : 463.1 : 467.6
Intraday Support of COPPER are 428.8 : 426.7 : 421.1 : 416.8 : 410.9 : 405 : 400.8 : 396.7
Short term and Intraday Level of CRUDEOIL
Currently Crudeoil is in HOLD SHORT position Crudeoil is moving sideways so short term investor better to buy only above 6254.0 or hold with stop at 6108.0 The Crudeoil is now trading in highly oversold level. The oscillator is showing SELL signal
Intraday Trend- Buy is advised above 6185.3 with a stop at 6075.4 Below 6047 go for sell
Intraday Resistance of CRUDEOIL are 6172.9 : 6220.1 : 6233.9 : 6250.3
Intraday Support of CRUDEOIL are 6059.1 : 6011.9 : 5999.3 : 5983.2
Short term and Intraday Level of GOLDM
Currently Goldm is in HOLD SHORT position Goldm is showing some Up momentum So buy above 27702.0 with stop at 27455.0 The Goldm is now trading is approaching oversold level. The oscillator is showing BUY signal
Intraday Trend- Buy is advised only above 27819.5 with a stop at 27563.3 Below 27514.9 go for sell and put stop at 27770.9
Intraday Resistance of GOLDM are 27754.1 : 27826.3 : 27917.1 : 27951.8
Intraday Support of GOLDM are 27579.9 : 27507.7 : 27418.1 : 27383.6
Short term and Intraday Level of LEAD
Currently Lead is in HOLD LONG position Lead is moving sideways so short term investor better to buy only above 132.6 with stop at 129.3 The oscillator is showing BUY signal
Intraday Trend- Buy is advised above 131.5 with a stop at 129.1 Below 128.4 go for sell
Intraday Resistance of LEAD are 131.2 : 132.3 : 135.7 : 138.1 : 141.6 : 145.1 : 147.6 : 150.1
Intraday Support of LEAD are 128.7 : 127.6 : 124.3 : 122 : 118.8 : 115.6 : 113.4 : 111.2
Short term and Intraday Level of MENTHAOIL
Currently Menthaoil is in HOLD LONG position Menthaoil is moving sideways so short term investor better to buy only above 724.7 with stop at 673.8 The oscillator is showing SELL signal
Intraday Trend- Buy is advised above 720.4 with a stop at 705 Below 700.9 go for sell
Intraday Resistance of MENTHAOIL are 718.9 : 725.8 : 737.5 : 745.4 : 751.1 : 756.9
Intraday Support of MENTHAOIL are 702.3 : 695.4 : 684.2 : 676.6 : 671.2 : 665.8
Short term and Intraday Level of NATURALGAS
Currently Naturalgas is in HOLD SHORT position The Naturalgas is in downtrend For short term buy only if close above 257.0 The Naturalgas is now trading in highly oversold level. The oscillator is showing SELL signal
Intraday Trend- Buy is advised above 255.5 with a stop at 249.5 Below 247.9 go for sell
Intraday Resistance of NATURALGAS are 253.5 : 254.9 : 259.7 : 263.1 : 267.8 : 272.6 : 276.1 : 279.5
Intraday Support of NATURALGAS are 249.9 : 248.5 : 243.8 : 240.6 : 236.1 : 231.6 : 228.5 : 225.3
Short term and Intraday Level of NICKEL
Currently Nickel is in HOLD SHORT position Nickel is in down trend so buy above 1179.0 The sell will again come if below 1144.0 The oscillator is showing SELL signal
Intraday Trend- Buy is advised above 1181.5 with a stop at 1146.8 Below 1136.8 go for sell
Intraday Resistance of NICKEL are 1173.2 : 1184.8 : 1203.5 : 1210.7 : 1218
Intraday Support of NICKEL are 1145 : 1133.4 : 1115.5 : 1108.6 : 1101.7
Short term and Intraday Level of SILVER
Currently Silver is in HOLD LONG position In short term Silver is in strong up trend so hold with stop at 44657 The oscillator is showing BUY signal
Intraday Trend- Buy is advised above 45132.4 with a stop at 44570 Below 44442.6 go for sell with stop at 45004.5
Intraday Resistance of SILVER are 44984.5 : 45148.4 : 45105 : 45149.2
Intraday Support of SILVER are 44589.5 : 44425.6 : 44470.1 : 44426.3
Short term and Intraday Level of SILVERM
Currently Silverm is in HOLD SHORT position Silverm is moving sideways so short term investor better to buy only above 45200.0 with stop at 44525.0 The oscillator is showing SELL signal
Intraday Trend- Buy is advised above 45167.2 with a stop at 44602.1 Below 44473.8 go for sell
Intraday Resistance of SILVERM are 45018.6 : 45183.5 : 45138.1 : 45182.3
Intraday Support of SILVERM are 44621.4 : 44456.5 : 44503 : 44459.1
Short term and Intraday Level of ZINC
Currently Zinc is in HOLD LONG position Zinc is moving sideways so short term investor better to buy only above 137.65 or hold with stop at 132.5 The Zinc is now trading is approaching overbought level. The oscillator is showing BUY signal
Intraday Trend- Buy is advised above 137.3 with a stop at 134.3 Below 133.5 go for sell
Intraday Resistance of ZINC are 136.6 : 137.6 : 141.3 : 143.8 : 147.3 : 150.8 : 153.4 : 156
Intraday Support of ZINC are 134.2 : 133.2 : 129.6 : 127.3 : 124 : 120.8 : 118.5 : 116.3
Short term and Intraday Level of ALUMINI
Currently Alumini is in HOLD LONG position Alumini is moving sideways so short term investor better to buy only above 116.3 or hold with stop at 113.55 The Alumini is now trading is approaching overbought level. The oscillator is on SELL signal and Alumini is coming down from overbought level
Intraday Trend- Buy is advised above 115.8 with a stop at 113.9 Below 113.5 go for sell
Intraday Resistance of ALUMINI are 115.6 : 116.4 : 120.1 : 122.4 : 125.6 : 128.9 : 131.3 : 133.7
Intraday Support of ALUMINI are 113.7 : 112.9 : 109.4 : 107.2 : 104.2 : 101.2 : 99.2 : 97.1
Short term and Intraday Level of CARDAMOM
Currently Cardamom is in HOLD LONG position In short term Cardamom is in strong up trend so hold with stop at 977 The oscillator is showing BUY signal
Intraday Trend- Buy is advised above 1033.4 with a stop at 1000.6 Below 991.1 go for sell with a stop at 1023.8
Intraday Resistance of CARDAMOM are 1021.8 : 1031.3 : 1047.2 : 1060.5 : 1067.3
Intraday Support of CARDAMOM are 1002.6 : 993.1 : 977.2 : 965 : 958.6
Short term and Intraday Level of CPO
Currently Cpo is in HOLD LONG position Cpo is in profit booking mode so either sell of or keep stop at528 so better sell and enter at lower level The oscillator is showing SELL signal
Intraday Trend- Buy is advised above 532 with a stop at 526.4 Below 525.2 go for sell
Intraday Resistance of CPO are 531 : 532.9 : 540.2 : 545 : 551.8 : 558.7 : 563.6 : 568.6
Intraday Support of CPO are 526.2 : 524.3 : 517.2 : 512.4 : 505.9 : 499.3 : 494.7 : 490.1
Short term and Intraday Level of GOLDGUINEA
Currently Goldguinea is in HOLD SHORT position The Goldguinea is in downtrend For short term buy only if close above 22432.0 The oscillator is showing BUY signal
Intraday Trend- Buy is advised above 22475.4 with a stop at 22316 Below 22292.8 go for sell
Intraday Resistance of GOLDGUINEA are 22430.5 : 22469.1 : 22609 : 22640.3
Intraday Support of GOLDGUINEA are 22337.5 : 22298.9 : 22160.1 : 22129.2
Short term and Intraday Level of GOLDPETAL
Currently Goldpetal is in HOLD SHORT position The Goldpetal is in downtrend For short term buy only if close above 2809.0 The oscillator is showing BUY signal
Intraday Trend- Buy is advised above 2818.6 with a stop at 2798.4 Below 2795.4 go for sell
Intraday Resistance of GOLDPETAL are 2813 : 2818 : 2844.6 : 2860.2 : 2875.8 : 2887 : 2898.2
Intraday Support of GOLDPETAL are 2801 : 2796 : 2769.6 : 2754.3 : 2739 : 2728.1 : 2717.2
Short term and Intraday Level of LEADMINI
Currently Leadmini is in HOLD LONG position Leadmini is moving sideways so short term investor better to buy only above 132.6 with stop at 129.3 The oscillator is showing BUY signal
Intraday Trend- Buy is advised above 131.5 with a stop at 129 Below 128.3 go for sell
Intraday Resistance of LEADMINI are 131.3 : 132.4 : 135.7 : 138.1 : 141.5 : 145 : 147.6 : 150.1
Intraday Support of LEADMINI are 128.5 : 127.4 : 124.3 : 122 : 118.8 : 115.6 : 113.4 : 111.2
Short term and Intraday Level of POTATO
Currently Potato is in HOLD LONG position Potato is in profit booking mode so better sell and enter at lower level The Potato is now trading is approaching overbought level. The oscillator is showing BUY signal
Intraday Trend- Buy is advised only above 1397.4 with a stop at 1361.6 Below 1346.5 go for sell
Intraday Resistance of POTATO are 1394.6 : 1409.8 : 1434.9 : 1435.8 : 1443.7
Intraday Support of POTATO are 1364.4 : 1349.2 : 1324.1 : 1324.4 : 1316.8
Currently Silvermic is in HOLD SHORT position Silvermic is moving sideways so short term investor better to buy only above 45195.0 with stop at 44540.0 The oscillator is showing SELL signal
Intraday Trend- Buy is advised above 45163.8 with a stop at 44605.3 Below 44479.2 go for sell
Intraday Resistance of SILVERMIC are 45019.6 : 45184.5 : 45139.1 : 45183.3
Intraday Support of SILVERMIC are 44622.4 : 44457.5 : 44504 : 44460.1
Currently Sugarmkol is in HOLD LONG position In short term Sugarmkol is in strong up trend so hold with stop at 2946 The Sugarmkol is now trading in highly overbought level. The oscillator is showing SELL signal
Intraday Trend- Buy if open above 3168.2 or above 3260.3 with a stop at 2972.2 Below 2880.4 go for sell
Intraday Resistance of SUGARMKOL are 3120.7 : 3171.3 : 3255.4 : 3153.7 : 3165.4
Intraday Support of SUGARMKOL are 3019.3 : 2968.7 : 2884.6 : 2987.5 : 2976.1
( For any personal query mail me at support@mamatainfotech.com or call me at +91 9932242442, 9932461166 )
Commodity Exchange-- Contract----- Trend--------- S2------- --S1-------- LTP--------- R1--------- R2
Bullions
Gold -------MCX ------Aug----------Sideways----27400----27500----27613----27750----27850
Spot Gold-----------------------------Sideways----1319----1324----1329----1336----1340
Gold Hedge----NCDEX----July----Sideways----25170----25260----25367----25490----25585
Silver----MCX----Sept---------------Sideways----44200----44500----44787----45100----45400
Spot Silver----------------------------Sideways----20.80----21.00----21.17----21.30----21.50
Silver Hedge----NCDEX----Aug----Sideways----4030----4050----4087----4110----4140
Base Metals
LME----Copper-----------------------Sideways----7080----7133----7173----7230----7280
Copper----MCX----Aug-------------Sideways----426----429----431.40----435----438
Zinc----MCX----July----------------Up----133.50----134.50----135.30----136.50----137.60
Lead----MCX----July---------------Down----128.00----129.00----129.95----131.00----132.00
Aluminium----MCX----July----------Sideways----112.50----113.50----114.65----115.50----116.50
Nickel----MCX----July---------------Sideways----1140----1150----1159.10----1170----1185
Energy
Crude----Oil----MCX----July----------Down----6030----6070----6116----6160----6210
Crude----Oil----NYMEX----Aug----Down----100.50----101.10----101.96----102.60----103.50
Crude----Oil----NCDEX----July---------Down----6150----6190----6238----6280----6370
Brent Crude Oil----MCX----------July----Down----6460----6500----6550----6590----6640
Brent Crude Oil----NYMEX----Aug----Down----106.70----107.30----108.15----108.80----109.70
Brent Crude Oil----NCDEX----July----Down----6450----6490----6538----6580----6630
Natural Gas----MCX----July-------------Down----245----248----251.70----253----257
International Commodities
Overview
- Indian economy to grow by 5.4-5.9 % in FY14-15 – Economic Survey.
- US crude oil inventories declined by 2.4 mn bbl in the last week.
- UK’s Halifax House Price Index (HPI) declined by 0.6 percent in June.
- China’s Trade Balance at a surplus of 31.6 billion Yuan in last month.
- Japan’s Core Machinery Orders declined by 19.5 percent in May.
Bullion
Gold
Spot gold prices rose on Wednesday as the U.S. Federal Reserve's latest meeting minutes did not suggest any hike in U.S. interest rates soon. Prices traded near one week high as the world's largest gold exchange-traded fund, the SPDR Gold Trust reported a second straight session of inflows that took its holdings above 800 tonnes the first time since mid-April.
The gains came on anticipation that the Fed's June meeting minutes would not reveal any significant change in thinking on monetary policy, meaning the central bank was not ready to raise interest rates or hasten the rollback of stimulus measures. Further, the Fed may end its bond buying program after its October meeting if "certain economic conditions remain positive", the minutes said.
On the MCX, gold prices gained by 0.34 percent and closed at Rs.27613/10gms.
Silver
Spot silver prices have been moving in tandem with gold prices and this positive move continued in yesterday’s session as the Fed did not hint about rise in interest rates in the US. Weakness in the dollar index boosted the rally further. However, decline in Nickel prices and the weakness in the overall base metal pack capped the rally.
On the MCX, silver prices declined in contrary to the gains in international markets and closed at Rs.44787/kg
Outlook Bullion
On an intraday basis, we expect gold and silver prices to trade higher as Fed’s is not likely to raise the interest rates soon, although it plans to end the bond buying programme after its October meeting if the economic conditions permit. However, weakness in the DX and increase in the investment flows will act as a positive factor.
On the MCX, gold prices are expected to trade on a positive note in line with strength in international markets.
Energy
Crude Oil
Faltering demand for gasoline in the US, resumption of Libya’s crude output and exports and ease of geo-political tensions have been the prime factors behind recent fall in oil prices (both Brent and WTI).
Libya has restarted the 340,000-barrel-per-day (bpd) El Sharara field after protesters ended a four-month strike, which could double the country's current crude output. The U.S. benchmark has fallen in nine straight sessions, its longest such streak since December 2009. As speculators dumped Brent, its premium over U.S. crude touched its narrowest point in almost a month at $5.15, and then widened to settle at $5.85.
On the MCX, crude prices declined by 1.2 percent in line with weakness in international markets and closed at Rs.6116/bbl.
EIA inventory update
The EIA released its weekly inventories report last night and US crude oil inventories declined by 2.4 million barrels for the week ending on 4th July 2014. Gasoline stocks rose by 0.579 million barrels whereas distillate inventories rose by 0.227 million barrels for the same time period.
Natural Gas
U.S. natural gas futures lost almost 1 percent on Wednesday, the third decline in a row, on forecasts for continued cooler-than-normal weather and expectations for another big storage build. After a record eight consecutive triple-digit injections, the inventory report due tonight is expected to show a buildup of 92 BCF of gas.
Outlook Energy
Crude prices have been falling in the recent weeks as resumption of Libyan exports and ease of Iraq situation has ensured that oil markets remain well supplied. Besides, the reduction in gasoline demand in the US is also raising concerns from the world’s largest consumer of crude.
At the same time, demand for crude has been low from European refiners whose margins have been squeezed by an influx of diesel from the United States, Russia and Asia. All the factors are likely to push crude prices down further in the coming session.
On the MCX, crude prices are expected to trade on a lower note in line with weakness in international markets.
Base Metals
Base metals on the LME traded on a negative note yesterday owing to unfavorable inflation data from China, which posed concerns regarding demand outlook. Also, unfavorable housing data from UK acted as a negative factor.
However, upbeat global market sentiments along with decline in inventories restricted sharp upside in prices.
In the Indian markets, base metals traded lower in line with international markets and Rupee appreciation.
Copper
LME Copper prices traded lower by 0.3 percent yesterday as concerns of demand softening spur after fall in inflation in the biggest consumer, China. Also, weak HPI data from UK exerted downside pressure on prices.
However, rise in risk appetite in market sentiments along with 0.8 percent decline for two days in a row cushioned sharp downside. The red metal touched an intra-day low of $7110/tonne before closing at $7117/tonne on Wednesday.
MCX Copper prices fell by 0.7 percent taking cues from Rupee appreciation and touched an intra-day low of Rs.431.1/kg in the last trading session.
Outlook Base Metals
We except LME Copper prices to trade lower on the back of weak trade balance data from China which has spurred demand concerns in the biggest consumer.
However, upbeat market sentiments along with weakness in the DX will restrict sharp downside in prices.
MCX Copper prices will take cues from trends in international markets.
Important Events for Today
Indicator---------------------------------- Country Time (IST) Actual Forecast Previous Impact
ECB President Draghi Speaks-------------- Euro 12:00am - - - High
Core Machinery Orders m/m--------------- Japan 5:20am -19.50% 0.9% -9.1% Medium
Tertiary Industry Activity m/m-------------- Japan 5:20am 0.9% 1.9% -5.4% Medium
Trade Balance ----------------------------China Tentative 31.6B 37.3B 35.9B High
French Industrial Production m/m ----------Euro 12:15pm - 0.5% 0.3% Medium
New Loans --------------------------------China 10th -14th - 950B 871B Medium
ECB Monthly Bulletin ----------------------Euro 1:30pm - - - Medium
Trade Balance------------------------------ UK 2:00pm - -9.0B -8.9B Medium
Asset Purchase Facility---------------------- UK 4:30pm - 375B 375B High
Official Bank Rate --------------------------UK 4:30pm - 0.5% 0.5% High
MPC Rate Statement ------------------------UK Tentative - - - High
Unemployment Claims -----------------------US 6:00pm - 316K 315K High
Intraday trading tips today
Commodity Trends of Major Commodities
Commodity trends of major commodities are updated daily for Intraday,Short term,Medium term and Long term.Investor/trader can click on respective commodity to get the trend.Rate and analysis are based on MCX exchange. Mamata Infotech Strongly advises to use the signal section for better performance
Short term and Intraday Level of GOLD
Currently Gold is in HOLD LONG position In short term Gold is in strong up trend so hold with stop at 27436 The oscillator is showing BUY signal
Intraday Trend- Buy is advised above 27766.6 with a stop at 27508.8 Below 27459.8 go for sell with a stop at 27717.4
Intraday Resistance of GOLD are 27697.4 : 27767.4 : 27862.8 : 27897.6
Intraday Support of GOLD are 27528.6 : 27458.6 : 27364.3 : 27329.9
Short term and Intraday Level of ALUMINIUM
Currently Aluminium is in HOLD LONG position Aluminium is moving sideways so short term investor better to buy only above 116.25 or hold with stop at 113.55 The Aluminium is now trading is approaching overbought level. The oscillator is on SELL signal and Aluminium is coming down from overbought level
Intraday Trend- Buy is advised above 115.8 with a stop at 114 Below 113.5 go for sell
Intraday Resistance of ALUMINIUM are 115.6 : 116.4 : 120.1 : 122.4 : 125.6 : 128.9 : 131.3 : 133.7
Intraday Support of ALUMINIUM are 113.7 : 112.9 : 109.4 : 107.2 : 104.2 : 101.2 : 99.2 : 97.1
Short term and Intraday Level of COPPER
Currently Copper is in HOLD LONG position Copper is moving sideways so short term investor better to buy only above 438.15 or hold with stop at 431.1 The Copper is now trading is approaching overbought level. The oscillator is on SELL signal and Copper is coming down from overbought level
Intraday Trend- Buy is advised above 434.8 with a stop at 429.2 Below 428 go for sell
Intraday Resistance of COPPER are 434 : 436.1 : 441.8 : 446.2 : 452.4 : 458.6 : 463.1 : 467.6
Intraday Support of COPPER are 428.8 : 426.7 : 421.1 : 416.8 : 410.9 : 405 : 400.8 : 396.7
Short term and Intraday Level of CRUDEOIL
Currently Crudeoil is in HOLD SHORT position Crudeoil is moving sideways so short term investor better to buy only above 6254.0 or hold with stop at 6108.0 The Crudeoil is now trading in highly oversold level. The oscillator is showing SELL signal
Intraday Trend- Buy is advised above 6185.3 with a stop at 6075.4 Below 6047 go for sell
Intraday Resistance of CRUDEOIL are 6172.9 : 6220.1 : 6233.9 : 6250.3
Intraday Support of CRUDEOIL are 6059.1 : 6011.9 : 5999.3 : 5983.2
Short term and Intraday Level of GOLDM
Currently Goldm is in HOLD SHORT position Goldm is showing some Up momentum So buy above 27702.0 with stop at 27455.0 The Goldm is now trading is approaching oversold level. The oscillator is showing BUY signal
Intraday Trend- Buy is advised only above 27819.5 with a stop at 27563.3 Below 27514.9 go for sell and put stop at 27770.9
Intraday Resistance of GOLDM are 27754.1 : 27826.3 : 27917.1 : 27951.8
Intraday Support of GOLDM are 27579.9 : 27507.7 : 27418.1 : 27383.6
Short term and Intraday Level of LEAD
Currently Lead is in HOLD LONG position Lead is moving sideways so short term investor better to buy only above 132.6 with stop at 129.3 The oscillator is showing BUY signal
Intraday Trend- Buy is advised above 131.5 with a stop at 129.1 Below 128.4 go for sell
Intraday Resistance of LEAD are 131.2 : 132.3 : 135.7 : 138.1 : 141.6 : 145.1 : 147.6 : 150.1
Intraday Support of LEAD are 128.7 : 127.6 : 124.3 : 122 : 118.8 : 115.6 : 113.4 : 111.2
Short term and Intraday Level of MENTHAOIL
Currently Menthaoil is in HOLD LONG position Menthaoil is moving sideways so short term investor better to buy only above 724.7 with stop at 673.8 The oscillator is showing SELL signal
Intraday Trend- Buy is advised above 720.4 with a stop at 705 Below 700.9 go for sell
Intraday Resistance of MENTHAOIL are 718.9 : 725.8 : 737.5 : 745.4 : 751.1 : 756.9
Intraday Support of MENTHAOIL are 702.3 : 695.4 : 684.2 : 676.6 : 671.2 : 665.8
Short term and Intraday Level of NATURALGAS
Currently Naturalgas is in HOLD SHORT position The Naturalgas is in downtrend For short term buy only if close above 257.0 The Naturalgas is now trading in highly oversold level. The oscillator is showing SELL signal
Intraday Trend- Buy is advised above 255.5 with a stop at 249.5 Below 247.9 go for sell
Intraday Resistance of NATURALGAS are 253.5 : 254.9 : 259.7 : 263.1 : 267.8 : 272.6 : 276.1 : 279.5
Intraday Support of NATURALGAS are 249.9 : 248.5 : 243.8 : 240.6 : 236.1 : 231.6 : 228.5 : 225.3
Short term and Intraday Level of NICKEL
Currently Nickel is in HOLD SHORT position Nickel is in down trend so buy above 1179.0 The sell will again come if below 1144.0 The oscillator is showing SELL signal
Intraday Trend- Buy is advised above 1181.5 with a stop at 1146.8 Below 1136.8 go for sell
Intraday Resistance of NICKEL are 1173.2 : 1184.8 : 1203.5 : 1210.7 : 1218
Intraday Support of NICKEL are 1145 : 1133.4 : 1115.5 : 1108.6 : 1101.7
Short term and Intraday Level of SILVER
Currently Silver is in HOLD LONG position In short term Silver is in strong up trend so hold with stop at 44657 The oscillator is showing BUY signal
Intraday Trend- Buy is advised above 45132.4 with a stop at 44570 Below 44442.6 go for sell with stop at 45004.5
Intraday Resistance of SILVER are 44984.5 : 45148.4 : 45105 : 45149.2
Intraday Support of SILVER are 44589.5 : 44425.6 : 44470.1 : 44426.3
Short term and Intraday Level of SILVERM
Currently Silverm is in HOLD SHORT position Silverm is moving sideways so short term investor better to buy only above 45200.0 with stop at 44525.0 The oscillator is showing SELL signal
Intraday Trend- Buy is advised above 45167.2 with a stop at 44602.1 Below 44473.8 go for sell
Intraday Resistance of SILVERM are 45018.6 : 45183.5 : 45138.1 : 45182.3
Intraday Support of SILVERM are 44621.4 : 44456.5 : 44503 : 44459.1
Short term and Intraday Level of ZINC
Currently Zinc is in HOLD LONG position Zinc is moving sideways so short term investor better to buy only above 137.65 or hold with stop at 132.5 The Zinc is now trading is approaching overbought level. The oscillator is showing BUY signal
Intraday Trend- Buy is advised above 137.3 with a stop at 134.3 Below 133.5 go for sell
Intraday Resistance of ZINC are 136.6 : 137.6 : 141.3 : 143.8 : 147.3 : 150.8 : 153.4 : 156
Intraday Support of ZINC are 134.2 : 133.2 : 129.6 : 127.3 : 124 : 120.8 : 118.5 : 116.3
Short term and Intraday Level of ALUMINI
Currently Alumini is in HOLD LONG position Alumini is moving sideways so short term investor better to buy only above 116.3 or hold with stop at 113.55 The Alumini is now trading is approaching overbought level. The oscillator is on SELL signal and Alumini is coming down from overbought level
Intraday Trend- Buy is advised above 115.8 with a stop at 113.9 Below 113.5 go for sell
Intraday Resistance of ALUMINI are 115.6 : 116.4 : 120.1 : 122.4 : 125.6 : 128.9 : 131.3 : 133.7
Intraday Support of ALUMINI are 113.7 : 112.9 : 109.4 : 107.2 : 104.2 : 101.2 : 99.2 : 97.1
Short term and Intraday Level of CARDAMOM
Currently Cardamom is in HOLD LONG position In short term Cardamom is in strong up trend so hold with stop at 977 The oscillator is showing BUY signal
Intraday Trend- Buy is advised above 1033.4 with a stop at 1000.6 Below 991.1 go for sell with a stop at 1023.8
Intraday Resistance of CARDAMOM are 1021.8 : 1031.3 : 1047.2 : 1060.5 : 1067.3
Intraday Support of CARDAMOM are 1002.6 : 993.1 : 977.2 : 965 : 958.6
Short term and Intraday Level of CPO
Currently Cpo is in HOLD LONG position Cpo is in profit booking mode so either sell of or keep stop at528 so better sell and enter at lower level The oscillator is showing SELL signal
Intraday Trend- Buy is advised above 532 with a stop at 526.4 Below 525.2 go for sell
Intraday Resistance of CPO are 531 : 532.9 : 540.2 : 545 : 551.8 : 558.7 : 563.6 : 568.6
Intraday Support of CPO are 526.2 : 524.3 : 517.2 : 512.4 : 505.9 : 499.3 : 494.7 : 490.1
Short term and Intraday Level of GOLDGUINEA
Currently Goldguinea is in HOLD SHORT position The Goldguinea is in downtrend For short term buy only if close above 22432.0 The oscillator is showing BUY signal
Intraday Trend- Buy is advised above 22475.4 with a stop at 22316 Below 22292.8 go for sell
Intraday Resistance of GOLDGUINEA are 22430.5 : 22469.1 : 22609 : 22640.3
Intraday Support of GOLDGUINEA are 22337.5 : 22298.9 : 22160.1 : 22129.2
Short term and Intraday Level of GOLDPETAL
Currently Goldpetal is in HOLD SHORT position The Goldpetal is in downtrend For short term buy only if close above 2809.0 The oscillator is showing BUY signal
Intraday Trend- Buy is advised above 2818.6 with a stop at 2798.4 Below 2795.4 go for sell
Intraday Resistance of GOLDPETAL are 2813 : 2818 : 2844.6 : 2860.2 : 2875.8 : 2887 : 2898.2
Intraday Support of GOLDPETAL are 2801 : 2796 : 2769.6 : 2754.3 : 2739 : 2728.1 : 2717.2
Short term and Intraday Level of LEADMINI
Currently Leadmini is in HOLD LONG position Leadmini is moving sideways so short term investor better to buy only above 132.6 with stop at 129.3 The oscillator is showing BUY signal
Intraday Trend- Buy is advised above 131.5 with a stop at 129 Below 128.3 go for sell
Intraday Resistance of LEADMINI are 131.3 : 132.4 : 135.7 : 138.1 : 141.5 : 145 : 147.6 : 150.1
Intraday Support of LEADMINI are 128.5 : 127.4 : 124.3 : 122 : 118.8 : 115.6 : 113.4 : 111.2
Short term and Intraday Level of POTATO
Currently Potato is in HOLD LONG position Potato is in profit booking mode so better sell and enter at lower level The Potato is now trading is approaching overbought level. The oscillator is showing BUY signal
Intraday Trend- Buy is advised only above 1397.4 with a stop at 1361.6 Below 1346.5 go for sell
Intraday Resistance of POTATO are 1394.6 : 1409.8 : 1434.9 : 1435.8 : 1443.7
Intraday Support of POTATO are 1364.4 : 1349.2 : 1324.1 : 1324.4 : 1316.8
Currently Silvermic is in HOLD SHORT position Silvermic is moving sideways so short term investor better to buy only above 45195.0 with stop at 44540.0 The oscillator is showing SELL signal
Intraday Trend- Buy is advised above 45163.8 with a stop at 44605.3 Below 44479.2 go for sell
Intraday Resistance of SILVERMIC are 45019.6 : 45184.5 : 45139.1 : 45183.3
Intraday Support of SILVERMIC are 44622.4 : 44457.5 : 44504 : 44460.1
Currently Sugarmkol is in HOLD LONG position In short term Sugarmkol is in strong up trend so hold with stop at 2946 The Sugarmkol is now trading in highly overbought level. The oscillator is showing SELL signal
Intraday Trend- Buy if open above 3168.2 or above 3260.3 with a stop at 2972.2 Below 2880.4 go for sell
Intraday Resistance of SUGARMKOL are 3120.7 : 3171.3 : 3255.4 : 3153.7 : 3165.4
Intraday Support of SUGARMKOL are 3019.3 : 2968.7 : 2884.6 : 2987.5 : 2976.1
( For any personal query mail me at support@mamatainfotech.com or call me at +91 9932242442, 9932461166 )
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