Choicebroking: #Aajkatrend: MCX Gold June Hourly Chart CMP: 30055

1. Equities I Commodities I Currencies I Mutual Funds
Aaj Ka Trend
Technical View:
MCX Gold price are trading in a consolidation formation since
last couple of weeks on hourly chart. Counter is trading above
its trend line support on hourly time frame. Moreover, COMEX
Gold price have been taking support of its rising trend line at
$1268 levels on hourly chart. The momentum indicator, RSI
has taken support of its trend line at 50 levels on hourly chart,
which gives positive momentum to the prices. For now we
expect prices should move higher towards 30420 levels in the
coming trading sessions.
SEBI Registered - Research Analyst Equities I Commodities I Currencies I Mutual Funds
Bullions
MCX Gold June Hourly Chart CMP: 30055
MCX Gold (June) Trend: Bullish
Price potential: 30420 Reversal:29820
MCX Silver July Hourly Chart CMP: 41060
Technical View:
MCX Silver prices are trading in descending triangle formation
on hourly basis. Counter price has hold resistance of its
horizontal trend line 41500 levels on hourly chart. Prices have
been trading below its 50 HEMA on hourly chart. On the other
hand, COMEX Silver price has taken resistance of its horizontal
trend line $17.40 levels on hourly chart which gives negative
confirmation to the prices. For now we expect prices to move
lower towards 40150 levels in few trading sessions.
MCX Silver (July) Trend: Bearish
Price potential: 40150 Reversal: 41400
Pivot levels for the Day
S1 S2 S3 Pivot R1 R2 R3
Gold 29914 29826 29654 29998 30086 30170 30342
Silver 40625 40339 39815 40863 41149 41387 41911
19th May’16

2. Equities I Commodities I Currencies I Mutual Funds
Technical View:
MCX Copper Prices have witnessed breakdown of its
consolidation formation at 306.60 levels on hourly chart.
However, MCX Copper prices is trading below its 50 HEMA
on hourly chart which indicates short term trend remains
weak. On the other hand, momentum indicator RSI is
trading below 50 levels on hourly chart. Furthermore,
momentum indictor MACD has shown negative crossover
on hourly chart. For now we expect prices to move lower
towards 301 levels in coming trading sessions.
SEBI Registered - Research Analyst Equities I Commodities I Currencies I Mutual Funds
MCX Copper June hourly Chart CMP: 311.40
MCX Copper (June) Trend: Bearish
Price potential: 301 Reversal: 315
MCX Crude Oil May. Hourly Chart CMP: 3272
Technical View:
As expected MCX Crude moved higher as per our line of
expectation till 3277 levels. MCX Crude Oil prices are trading
in a higher high higher bottom formation on hourly chart.
Moreover, counter is trading above its 21 HEMA on hourly
chart. On the other hand, momentum indicator MACD has
given positive crossover on hourly chart which gives positive
confirmation to the prices. For now we expect prices to
move higher towards 3360 levels in coming trading
sessions.
MCX Crude Oil (May) Trend: Bullish
Price potential: 3360 Reversal: 3220
Pivot levels for the Day
S1 S2 S3 Pivot R1 R2 R3
Copper 306.9 304.2 299.7 308.8 311.5 313.3 317.9
Crude 3226 3190 3128 3252 3288 3314 3376
Base Metal
Energy
Aaj Ka Trend
19th May’16

3. Equities I Commodities I Currencies I Mutual FundsSEBI Registered - Research Analyst Equities I Commodities I Currencies I Mutual Funds
Other Base Metals & Energy
S1 S2 S3 Pivot R1 R2 R3 Trend
Copper 306.9 304.2 299.7 308.8 311.5 313.3 317.9
Aluminum 103.0 102.0 100.4 103.6 104.6 105.2 106.8
Lead 113.6 113.0 111.5 114.4 115.0 115.9 117.3
Nickel 575.7 571.5 562.7 580.3 584.5 589.1 597.9
Zinc 125.1 124.2 122.7 125.8 126.6 127.3 128.9
Natural Gas 133.8 132.7 129.5 135.9 137.0 139.1 142.3
Fundamental News:
 Gold held overnight gain in Asia as investors looked ahead to the Wednesday release of Federal Reserve
minutes expected to shed some light on prospects for rate hikes this year.
 Gold futures were lower in European trade on Tuesday, after posting modest overnight gains, as market players
looked ahead to minutes of the Federal Reserve’s April policy meeting, which many feared could be more
hawkish than the statement.
 Investors will be focusing on minutes of the Federal Reserve’s April policy meeting due on Wednesday at
18:00GMT, or 2:00PM ET, for some clarity on where the U.S. central bank stands on its path toward rate hikes.
 Oil prices held near the prior session’s seven-month highs in European trade on Wednesday, amid speculation
weekly supply data due later in the session will show U.S. crude inventories fell for the second straight week.
 Brent crude prices eased on Wednesday, after hitting 2016 highs in the previous session, as the impact of
unplanned supply disruptions in Nigeria and Canada was tempered by rising supplies elsewhere.
 West Texas Intermediate oil futures moved away from intraday highs in North America trade on Wednesday,
after data showed that oil supplies in the U.S. registered an unexpected increase.
 U.S. crude stocks rose unexpectedly last week even as gasoline and distillate inventories fell more than
expected, data from the Energy Information Administration showed on Wednesday.
 China's central government-controlled firms will cut steel production capacity by 10 percent over the 2016-2017
period, the cabinet said on its microblog on Wednesday.
Aaj Ka Trend
19th May’16

4. Equities I Commodities I Currencies I Mutual FundsSEBI Registered - Research Analyst Equities I Commodities I Currencies I Mutual Funds
International Market
Commodity Closing Price
Gold 1260.42
Silver 16.88
Crude Oil 47.80
Brent Crude Oil 48.42
Natural Gas 2.01
COMEX/NYMEX/ICE ( Precious Metals & Energy) Currency & Commodity Index
Currency (Spot) Current Price
USD / INR 66.98
Dollar Index 95.20
EUR / USD 1.1220
CRB Index* 185.39
Closing as on 18.05.16 *Closing as on 18.05.16
LME (Base Metals) ( $ per tones)
Commodity Closing Price
Copper 4612.50
Aluminum 1551.50
Zinc 1888
Lead 1703
Nickel 8635
SHFE (Base Metals) (Yuan per tones)
Commodity Closing Price
Copper 35460
Aluminum 12375
Zinc 15235
Lead 15050
Closing as on 18.05.16 Closing as on 18.05.16
LME INVENTORY DATA
Aaj Ka Trend
12-May-16 13-May-16 16-May-16 17-May-16 18-May-16
Aluminium -8900 -4825 -6625 -2050 -4600
Copper -1625 -3325 -2350 -2275 100
Lead 750 25 -250 -175 4800
Nickel -6 -1674 -5880 -606 -1680
Zinc -1100 -1125 -325 -575 -1000
19th May’16

5. Equities I Commodities I Currencies I Mutual Funds
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Amit Pathania
Research Associate
amit.pathania@choiceindia.com
Rohan Patil
Research Associate
rohan.patil@choiceindia.com
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SEBI Registered - Research Analyst Equities I Commodities I Currencies I Mutual Funds
Aaj Ka Trend
19th May’16
Neeraj Yadav
Research Advisor
neeraj.yadav@choiceindia.com
Anish Vyas
Senior Research Associate
anish.vyas@choiceindia.com
Amit Pathania
Digitally signed by Amit Pathania
DN: cn=Amit Pathania, o=Choice Equity Broking Pvt. ltd,
ou=Research Department,
email=amit.pathania@choiceindia.com, c=IN
Date: 2016.05.19 08:33:02 +05'30'