25/08/2017
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Crude oil futures trade marginally lower on MCX: Crude oil futures traded marginally lower on MCX as speculators trimmed their positions, despite another fall in US crude inventories indicated a tighter market and a tropical storm was heading for oil producing facilities in the Gulf of Mexico.
Copper futures trade higher on MCX: Copper futures traded higher on MCX as speculators raised bets following a firm trend on increasing demand at the domestic spot markets.
Gold futures edge lower on MCX: Gold futures edged marginally lower on MCX as market players awaited comments on monetary policy from the Jackson Hole meeting set to begin later in the day.
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25/08/2017
TECHNICAL ANALYST
GOLD
OUTLOOK: TREND: - UP RESISTANCE: - 29200, 29300. SUPPORT: - 29000, 28900. STRATEGY: - SELL ON HIGH.
TECHNICAL OUTLOOK
The contract for October delivery was trading at Rs 29115.00, down by 0.17% or Rs 49.00 from its previous closing of Rs 29164.00. The open interest of the contract stood at 7483 lots. MCX Gold futures hit a high above Rs 29182 per 10 grams and ended around Rs 29099 per 10 grams.
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SILVER
OUTLOOK: TREND: - UP RESISTANCE: - 39000, 39200. SUPPORT: - 38700, 38600. STRATEGY: - SELL ON HIGH.
TECHNICAL OUTLOOK The Prices of silver were consolidated on Thursday. And at end of the day the prices were settled at 38860 per 30 kilogram. On the higher side Rs 39176 per 30 kilogram as resistances were noted while lows were at Rs 38580 per 30 kilograms as support noted. The metals remain under a volatile zone.
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COPPER
OUTLOOK: TREND: - UP RESISTANCE: - 430,432.50. SUPPORT: -426, 423.50. STRATEGY: - SELL ON HIGH.
TECHNICAL OUTLOOK The contract for August delivery was trading at Rs 424.70, up by 0.75% or Rs 3.15 from its previous closing of Rs 421.55. The open interest of the contract stood at 14492 lots. MCX Copper ended at Rs 428.55 per kg, made high of 430.15, and made a low of 422.25.
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CRUDE OIL OUTLOOK: TREND: - DOWN RESISTANCE: - 3080, 3110. SUPPORT: - 3010, 2980. STRATEGY: - SELL ON HIGH.
TECHNICAL OUTLOOK The contract for September delivery was trading at Rs 3101.00, down by 0.19% or Rs 6.00 from its previous closing of Rs 3107.00. The open interest of the contract stood at 17813 lots. WTI Crude is quoting at $47.81 per barrel right now, up marginally on the day. MCX Crude oil futures closed around Rs 3041 per barrel, And should see some selling on rallies today.
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25/08/2017
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