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DAILY MCX NEWSLETTER 30-AUG. -2013

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ENERGY

BASE METAL

BULLION Gold on the Comex has received a dent in prices as

Copper futures on India's Multi Commodity

US crude oil futures declined from two year high

US economy grew by 2.5 percent annualized rate

Exchange (MCX) for August delivery is expected

on Thursday after US crude oil stock-piles recorded

in Q2 up from previous quarters' 1.7%. Economists

to trade sideways to bearish for the day and

an upward movement. However, concerns over

widely expected the GDP to grow by 2.2% and the

traders are advised to remain in buying side,

persisting geopolitical political chaos in the Middle

trumping of expectations along with the dip in

according to our analyst at Commodity Online.

East limited further decline in the commodity

initial jobless claims by 6000 last week ensured a

“For intra-day, support for the commodity is

prices to certain extent.

dip in gold futures.

seen at 485 while resistance is seen at 500. The

As of now, US crude oil on NYMEX looks bearish

Gold on the Comex for delivery on December 13

prices may witness profit booking during intra-

may continue with the trend.

was seen trading at $1,411.10/oz, a loss of $7.70 or

day trade as futures recorded significant up-

The trend in crude oil futures for September

0.54% as of 06.16PM IST. Gold on India's MCX was

trend in the previous sessions.” MCX copper is

delivery on Multi Commodity Exchange (MCX)

seen trading up by 0.4% at Rs.33555/ ten grams.

expected to trade in the range of 470-515 for

looks sideways to bearish for the day and traders

“Gold and silver have failed to close above their

this week. If prices break the level of 515, then

are advised to book profit in a narrow range.

critical resistance levels and a pull back in prices is

the commodity is expected to move towards

“For intra-day, support for the commodity is seen

on the cards. We could see gold falling back

530 level.

at 7300 while resistance is seen at 7550,”

towards $1380 if it breaks $1400 and silver could

Natural Gas: Traders may take buy position near

fall to $23.50 level. The strong overnight

240 with the stop loss of 238 for target in the range

appreciation in the INR will keep prices much

of 245.

lower and will build pressure on the MCX prices,” said Kishore Narne, Associate Director Head Commodity & Currency, Motilal Oswal Commodity Broker Pvt Ltd.

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BULLION GOLD (5 OCT.)

OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY

: -CONSOLIDATE : - 33900, 34300 : - 33200, 33000 : - BUY ON DIPS

SILVER (5 SEP.)

OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY www.TheEquicom.com +919200009266

: - CONSOLIDATE : - 56700, 57500 : - 55000, 54250 : - BUY ON DIPS


ENERGY

CRUDEOIL (19 SEP.)

OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY

: - CONSOLIDATE : - 7515, 7600 : - 7400, 7290 : -BUY ON DIPS

NATURAL GAS (25 SEP.)

OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY

www.TheEquicom.com +919200009266

: - CONSOLIDATE : - 248.00, 250.00 : - 240.00, 236.00 : - BUY ON DIPS


BASE METAL

COPPER (29 NOV.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY

: - CONSOLIDATE : -505.00, 510.00 : - 490.00, 482.00 : - BUY ON DIPS

LEAD (30 SEP.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY

www.TheEquicom.com +919200009266

: - CONSOLIDATE : - 148.70, 149.60 : - 146.90, 146.00 : - BUY ON DIPS


ZINC (30 SEP.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY

: - CONSOLIDATE : - 131.00, 132.00 : - 129.40, 128.50 : - BUY ON DIPS

ALUMINUM (30 SEP.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY

: - CONSOLIDATE : - 124.00, 125.60 : - 122.30, 121.70 : - BUY ON DIPS

NICKEL (30 SEP.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY

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: - CONSOLIDATE : - 972.00, 986.00 : - 943.00, 925.00 : - BUY ON DIPS


GOLD SILVER COPPER CRUDE OIL NATURAL GAS PALLADIUM PLATINUM

1409.47 23.911 03.271 107.63 03.633 732.20 1518.50

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USDINR EURUSD USDJPY USDCHF GBPUSD USDCAD

66.5500 01.3249 98.1900 00.9297 01.5519 01.0533


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Daily mcx newsletter 30 aug 2013  

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