#ChoiceBroking #Aajkatrend - Bullions: MCX Gold Oct Hourly Chart CMP: 29908

1. Equities I Commodities I Currencies I Mutual Funds
Aaj Ka Trend
Technical View:
MCX Gold price has shown breakout of its consolidation range
at 29817 levels on hourly chart. On the other hand, prices
have been trading above 21 HEMA on hourly chart. In
addition, COMEX Gold price has shown breakout above its
horizontal trend line resistance at $1270 levels. Moreover,
Momentum Indicator RSI is trading above 60 levels on hourly
time frame. For now we expect prices should move higher
towards 30250 levels in the coming trading sessions.
SEBI Registered - Research Analyst Equities I Commodities I Currencies I Mutual Funds
Bullions
MCX Gold Oct Hourly Chart CMP: 29908
MCX Gold (Dec) Trend: Bullish
Price potential: 30250 Reversal: 29700
MCX Silver Dec Hourly Chart CMP: 42185
Technical View:
On hourly chart, MCX Silver prices have witnessed breakout
of its Symmetrical Triangle formation at 42185 levels. On the
other hand, COMEX Silver prices are trading In a cup & handle
formation on hourly time. In addition, MCX Silver is trading
above its 21 HEMA on hourly time frame. Moreover,
Momentum indicator RSI is trading above 60 levels on hourly
basis. For now we expect prices to move higher towards
42900 levels in few trading sessions.
MCX Silver (Dec) Trend: Bullish
Price potential: 42900 Reversal: 41900
Pivot levels for the Day
S1 S2 S3 Pivot R1 R2 R3
Gold 29697 29608 29370 29846 29935 30084 30322
Silver 41991 41807 41380 42234 42418 42661 43088
20th Oct’16

2. Equities I Commodities I Currencies I Mutual Funds
Technical View:
On hourly chart MCX Copper has given breakdown of its
Rectangle pattern at 312.60 levels. In addition, prices have
been trading below its 50 DEMA, which suggest medium
term remains weak. Furthermore, Three Black Crow bearish
candlestick pattern is visible on daily time frame. Moreover,
momentum indicator RSI has been trading below 50 levels
on hourly time frame. For now we expect prices to move
lower towards 306.50 levels in coming trading sessions.
SEBI Registered - Research Analyst Equities I Commodities I Currencies I Mutual Funds
MCX Copper Nov hourly Chart CMP: 312.15
MCX Copper (Nov) Trend: Bearish
Price potential: 306.50 Reversal: 318
MCX Crude Oil Oct. Hourly Chart CMP: 3450
Technical View:
MCX Crude Oil prices have witnessed breakout of its
Symmetrical triangle formation at 3386 levels on hourly
chart. In addition, Counter is trading above its 21 HEMA on
hourly chart. Moreover, Momentum indicator RSI is trading
above 60 levels on hourly chart. Furthermore, momentum
indicator MACD has shown positive crossover on hourly
chart. For now we expect prices to move higher towards
3510 levels in coming trading sessions.
MCX Crude Oil (Oct) Trend: Bullish
Price potential: 3510 Reversal: 3380
Pivot levels for the Day
S1 S2 S3 Pivot R1 R2 R3
Copper 310.6 308.7 305.6 311.8 313.7 314.9 318.0
Crude 3311 3281 3175 3387 3417 3493 3599
Base Metal
Energy
Aaj Ka Trend
20th Oct’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 310.6 308.7 305.6 311.8 313.7 314.9 318.0
Aluminum 109.8 108.5 106.3 110.7 112.0 112.9 115.1
Lead 131.8 130.7 128.6 132.8 133.9 134.9 137.0
Nickel 685.5 682.8 674.4 691.2 693.9 699.6 708.0
Zinc 149.3 148.1 146.0 150.3 151.5 152.4 154.6
Natural Gas 224.1 217.6 210.9 224.3 230.8 231.0 237.7
Fundamental News:
 Gold held gains Asia on Wednesday after solid China data sets on GDP, output and retail sales.
 Gold prices were steady on Wednesday, after gains in the previous session but fresh gains were held in check
amid a rise in equity markets after data indicating that China’s economy has stabilized.
 Gold prices held onto solid gains on Wednesday as a batch of mixed data on the U.S. housing market kept up
pressure on the dollar.
 Crude prices gained smartly in Asia on Wednesday of solid economic growth data in China and as U.S. industry
estimates showed a drop in stockpiles.
 U.S. refiners are in the midst of their worst year since the shale boom began in 2011. High fuel inventories have
punished margins this year, forcing some refiners to voluntarily cut production, delay capital work, lay off
workers and slash employee benefits.
 Oil prices rose by around 1 percent on Wednesday, lifted by a report of a drop in U.S. crude inventories and
declining production in China, while an upbeat OPEC statement on its planned output cut also supported the
market.
 Oil prices rose on Wednesday, climbing around 1% boosted by an unexpected U.S. inventory drawdown and
hopes for a planned output cut by major producers.
 Oil prices rallied on Wednesday, after the U.S. Energy Information Administration reported an unexpectedly
large U.S. oil inventory drawdown last week.
Aaj Ka Trend
20th Oct’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 1273.05
Silver 17.72
Crude Oil 51.70
Brent Crude Oil 52.59
Natural Gas 3.18
COMEX/NYMEX/ICE ( Precious Metals & Energy) Currency & Commodity Index
Currency (Spot) Current Price
USD / INR 66.66
Dollar Index 97.88
EUR / USD 1.09
CRB Index* 190.70
Closing as on 19.10.16 *Closing as on 19.10.16
LME (Base Metals) ( $ per tones)
Commodity Closing Price
Copper 4668
Aluminum 1630
Zinc 2300
Lead 1993
Nickel 10285
SHFE (Base Metals) (Yuan per tones)
Commodity Closing Price
Copper 37110
Aluminum 12654
Zinc 17790
Lead 15000
Closing as on 19.10.16 Closing as on 19.10.16
LME INVENTORY DATA
Aaj Ka Trend
13-Oct-16 14-Oct-16 17-Oct-16 18-Oct-16 19-Oct-16
Aluminium -9952 -10000 -6226 2548 24751
Copper -1658 2925 -3274 2201 2621
Lead -151 0 -151 601 601
Nickel -446 612 1768 -1195 -8
Zinc -526 -375 -248 102 -277
20th Oct’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
www.choicebroking.incustomercare@choiceindia.com
SEBI Registered - Research Analyst Equities I Commodities I Currencies I Mutual Funds
Aaj Ka Trend
20th Oct’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: 2016.10.20 08:42:11 +05'30'