15/05/2017
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Crude oil futures trade down on MCX: Crude oil futures traded down on MCX despite the traders expected OPEC-led production cuts to extend beyond the middle of this year, and as US crude inventories fell to their lowest levels since February.
Copper futures trade up on MCX: Copper futures traded up on MCX as investors extended their positions in the industrial metal on weakness in the US dollar. Meanwhile, traders eyed the industrial activity and investment data from top consumer China next week.
Gold futures edge higher on MCX: Gold futures edged higher on MCX as recent political events in the US continued to weigh on the greenback and boost demand for safe-haven assets, although investors were also eyeing the release of US data due later in the day.
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15/05/2017
TECHNICAL ANALYST
GOLD
OUTLOOK: TREND: - DOWN RESISTANCE: - 28100, 28200. SUPPORT: - 27900, 27800. STRATEGY: - SELL ON HIGH.
TECHNICAL OUTLOOK
Gold prices gained by a marginal Rs 11 per 10 grams on the session ending Friday. Gold ended the session at Rs 28015 per 10 grams. The prices of refined Gold tested a high of Rs 28129 per 10 grams and a low of Rs 27972 per 10 grams. Resistances for refined Gold were at Rs 27500 per 10 grams. Supports for Gold is at Rs 27600 per 10 grams.
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15/05/2017
SILVER
OUTLOOK: TREND: - DOWN RESISTANCE: - 38450, 38550. SUPPORT: - 38200, 38000. STRATEGY: - SELL ON HIGH.
TECHNICAL OUTLOOK The Prices of silver were down after making high like a previous day but the prices of silver have no change as compare to previous day price still it is in consolidation phase and at end of the day the prices were settled at 38155.On the higher side Rs 38293 per 30 kilogram as resistances were noted while lows were at Rs 38093 per 30 kilograms as support noted. The metals remain under a volatile zone.
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15/05/2017
COPPER
OUTLOOK: TREND: - DOWN RESISTANCE: - 362.50,365. SUPPORT: -357.50, 355. STRATEGY: - SELL ON HIGH.
TECHNICAL OUTLOOK Copper was up by a marginal 0.32% to end the day at Rs 360 per kg. The prices tested a high of Rs 360.90 per kg and a low of Rs 358 per kg. Resistance for Copper is at Rs 365 per kg, on the other hand Rs 355 per kg was the supports for Copper. The prices have been in range of Rs 380 and 350 per kg from quite long. Breaking the support levels would mean extreme correction towards Rs 345 and 320 per kg. On the higher side if range of Rs 380 per kg is taken out Copper can move towards Rs 400.
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15/05/2017
CRUDE OIL OUTLOOK: TREND: - DOWN RESISTANCE: - 3140, 3170 SUPPORT: - 2990, 2960 STRATEGY: - SELL ON HIGH.
TECHNICAL OUTLOOK Crude Oil has continuously dropped from April and is now slipped to levels of Rs 3062 per barrel. The prices declined to levels of Rs 3045 per barrel. Meanwhile high for Crude Oil were at Rs 3096 per barrel. Further gains in Crude Oil can take Crude Oil to Rs 3200 per barrel. Supports for Crude Oil is at Rs 2950 per barrel.
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15/05/2017
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301, 3rd Floor, Mangal City, Vijay Nagar, Indore
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15/05/2017
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