Daily commodity prediction report by tradeindia research 03 10 2017

03/10/2017

301, 3rd Floor, Mangal City, Vijay Nagar, Indore

Toll Free: 18003157801

03/10/2017

Crude oil futures end lower on signs of uptick in crude output: Crude oil futures settled lower on Monday, amid signs of an uptick in crude output as data showed Opec oil output rose last month. As per the report Organization of the Petroleum Exporting Countries output rose by 50,000 barrels a day in September as the cartel’s overall compliance with its production-cut agreement fell to 86%. Production in Libya rebounded 30,000 barrels a day to 920,000 barrels in September as the Sharara field restarted after a halt of more than two weeks while Nigerian output increased by 20,000 barrels to 1.77 million barrels a day.

Copper futures end little changed on MCX: Copper futures ended little changed on Monday, while London copper prices improved despite news that Indonesia’s giant Grasberg mine can continue to export copper concentrate even if permit talks are not resolved this month.

Gold futures end lower on Mcx:

Gold futures ended lower on Monday as rising US Treasury yields pushed the dollar higher, while concerns over violence during Catalonia's independence vote at the weekend weighed on the euro.

301, 3rd Floor, Mangal City, Vijay Nagar, Indore

Toll Free: 18003157801

03/10/2017

TECHNICAL ANALYST

GOLD

OUTLOOK: TREND: - DOWN RESISTANCE: - 29500, 29600.

SUPPORT: - 29250, 29150.

STRATEGY: - SELL ON HIGH.

TECHNICAL OUTLOOK

COMEX Gold slipped heavily yesterday amid soaring US equities and continued strength in the US dollar. US stocks stayed on the winning course amid supportive economic data and continued buying support. European stocks also witnessed good gains. COMEX Gold has slipped heavily off late as a break below $1300 levels extended following comments by US Federal Reserve Chairwoman Janet Yellen which reinforced expectations for another interest-rate increase before the end of the year. In a recent speech, Yellen said that while recent soft inflation readings justify a gradual pace for interest-rate hikes, there is also a danger of moving too gradually. COMEX Gold futures are currently trading at $1272.60 per ounce, down 0.24% on the day. This should lead to a hefty slide in local futures after the market opens up following an extended weekend. MCX Gold ended at Rs 29595 per 10 grams in last session, down 0.15% on the day. Expect a slide to Rs 29K today.

301, 3rd Floor, Mangal City, Vijay Nagar, Indore

Toll Free: 18003157801

03/10/2017

SILVER

OUTLOOK: TREND: - DOWN RESISTANCE: - 39500, 39700.

SUPPORT: - 39100, 38900.

STRATEGY: - SELL ON HIGH.

TECHNICAL OUTLOOK The Prices of silver were gain on Friday. And at end of the day the prices were settled at 39457 per 30 kilogram. On the higher side Rs 39864 per 30 kilogram as resistances were noted while lows were at Rs 39309 per 30 kilograms as support noted. The metals remain under a volatile zone.

301, 3rd Floor, Mangal City, Vijay Nagar, Indore

Toll Free: 18003157801

03/10/2017

COPPER

OUTLOOK: TREND: - UP RESISTANCE: - 429,431.50.

SUPPORT: -424, 421.50.

STRATEGY: - BUY ON LOW.

TECHNICAL OUTLOOK COMEX Copper is failing to hold on after staying supported yesterday. The main indicator of manufacturing demand for the world's No. 2 economy and the biggest consumer of commodities jumped to a 5½-year high. The official PMI read was 52.4 points, from 51.7 a month earlier, the highest since 2012. An unofficial manufacturing PMI released by Caixin fell to 51. The official PMI for the services sector also rose to 55.4 from 53.4 points a month earlier. This pushed up Copper somewhat. However, US dollar index is in a blistering form, hitting near six week high of 93.70 as Treasury yields edged up. This weighed on COMEX Copper and the commodity is down half a percent at $2.93 per pound. MCX Copper futures closed down 0.86% at Rs 428.05 per kg in last session and should slide towards Rs 425 levels today.

301, 3rd Floor, Mangal City, Vijay Nagar, Indore

Toll Free: 18003157801

03/10/2017

CRUDE OIL OUTLOOK: TREND: - UP RESISTANCE: - 3350, 3380.

SUPPORT: - 3290, 3260.

STRATEGY: - SELL ON HIGH.

TECHNICAL OUTLOOK WTI Crude oil futures slipped to around one week low yesterday despite bullish cues from equities as profit selling continued in the counter. US energy companies added oil rigs for the first week in seven after a 14-month drilling recovery stalled in August as crude prices were on track for their strongest third quarter in 10 years. The U.S. oil rig count, however, is down for the second month in a row and posted its biggest monthly and quarterly declines since the second quarter of 2016. Drillers added six oil rigs in the week to Sept. 29, bringing the total count up to 750, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. The rig count, an early indicator of future output, is still higher than the 425 active oil rigs a year ago as energy companies pursued ambitious spending programs for 2017. WTI Crude oil currently trades just above $50 per barrel mark, down marginally on the day. MCX Crude oil futures closed around3370 per barrel in last session, almost unchanged on the day.

301, 3rd Floor, Mangal City, Vijay Nagar, Indore

Toll Free: 18003157801

03/10/2017

DISCLAIMER The information and views in this report, our website & all the service we provide are believed to be reliable, but we do not accept any responsibility (or liability) for errors of fact or opinion. Users have the right to choose the product/s that suits them the most.

Sincere efforts have been made to present the right investment perspective. The information contained herein is based on analysis and up on sources that we consider reliable.

This material is for personal information and based upon it & takes no responsibility.

The information given herein should be treated as only factor, while making investment decision. The report does not provide individually tailor-made investment advice. Trade India Research Recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a financial adviser. Trade India Research shall not be responsible for any transaction conducted based on the information given in this report, which is in violation of rules and regulations of NSE and BSE. The share price projections shown are not necessarily indicative of future price performance. The information herein, together with all estimates and forecasts, can change without notice. Analyst or any person related to Trade India Research might be holding positions in the stocks recommended. It is understood that anyone who is browsing through the site has done so at his free will and does not read any views expressed as a recommendation for which either the site or its owners or anyone can be held responsible for . Any surfing and reading of the information is the acceptance of this disclaimer.

301, 3rd Floor, Mangal City, Vijay Nagar, Indore

Toll Free: 18003157801

03/10/2017

All Rights Reserved.

Investment in Commodity and equity market has its own risks.

We, however, do not Touch for the accuracy or the completeness thereof. we are not responsible for any loss incurred whatsoever for any financial profits or loss which may arise from the recommendations above. Trade India Research does not purport to be an invitation or an offer to buy or sell any financial instrument. Our Clients (Paid Or Unpaid), Any third party or anyone else have no rights to forward or share our calls or SMS or Report or Any Information Provided by us to/with anyone which is received directly or indirectly by them. If found so then Serious Legal Actions can be taken.

301, 3rd Floor, Mangal City, Vijay Nagar, Indore

Toll Free: 18003157801