#ChoiceBroking #Aajkatrend - Bullions: MCX Gold Oct Hourly Chart CMP: 29914

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 near 50 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: 29914
MCX Gold (Dec) Trend: Bullish
Price potential: 30250 Reversal: 29700
MCX Silver Dec Hourly Chart CMP: 41994
Technical View:
On hourly chart, MCX Silver prices have witnessed breakdown
of its Consolidation formation at 41888 levels. On the other
hand, COMEX Silver prices have given breakdown of its
Symmetrical triangle formation on hourly time. In addition,
MCX Silver is trading below its 21 HEMA on hourly time frame.
Moreover, Momentum indicator RSI is trading below 40 levels
on hourly basis. For now we expect prices to move lower
towards 41400 levels in few trading sessions.
MCX Silver (Dec) Trend: Bearish
Price potential: 41400 Reversal: 42350
Pivot levels for the Day
S1 S2 S3 Pivot R1 R2 R3
Gold 29834 29766 29584 29948 30016 30130 30312
Silver 41879 41565 40994 42136 42450 42707 43278
21st 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 & is trading below its
trend line resistance. 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 305 levels in coming trading sessions.
SEBI Registered - Research Analyst Equities I Commodities I Currencies I Mutual Funds
MCX Copper Nov hourly Chart CMP: 311.55
MCX Copper (Nov) Trend: Bearish
Price potential: 305 Reversal: 316.50
MCX Crude Oil Oct. Hourly Chart CMP: 3396
Technical View:
MCX Crude Oil prices after witnessing breakout of its
Symmetrical triangle formation at 3386 levels has retested its
trend line support on hourly chart. In addition, Counter is
trading above its 50 HEMA on hourly chart. Moreover,
Momentum indicator RSI is trading above 50 levels on hourly
chart. Furthermore, momentum indicator MACD is trading
above its signal line on hourly chart. For now we expect
prices to move higher towards 3485 levels in coming trading
sessions.
MCX Crude Oil (Oct) Trend: Bullish
Price potential: 3485 Reversal: 3360
Pivot levels for the Day
S1 S2 S3 Pivot R1 R2 R3
Copper 310.3 308.6 305.3 311.8 313.6 315.1 318.3
Crude 3424 3375 3307 3443 3492 3511 3579
Base Metal
Energy
Aaj Ka Trend
21st 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 310.3 308.6 305.3 311.8 313.6 315.1 318.3
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 677.9 669.9 656.9 682.9 690.9 695.9 708.9
Zinc 149.3 148.1 146.0 150.3 151.5 152.4 154.6
Natural Gas 234.7 217.7 211.1 224.3 241.3 230.9 237.5
Fundamental News:
 Gold drifted higher on Thursday in Asia in cautious trade as investors looked ahead to the final of three U.S.
presidential debates that may throw up some insights on economic policy plans by contenders Donald Trump
and Hillary Clinton.
 Gold prices eased on Thursday, but remained supported near two-week highs as speculation over the future
path of U.S. monetary policy continued.
 Gold prices were trading close to two-week highs on Thursday after the European Central Bank indicated that it
would wait until December to discuss tapering its asset purchase program, or the possible horizon at which
stimulus might end.
 Crude oil prices eased in Asia on Thursday with investors taking profits following drops in U.S. inventories with
the focus now on end of the week U.S. rig count data.
 Oil prices fell on Thursday as traders locked in profits following a rally in the previous session when the U.S.
Energy Information Administration reported an unexpectedly large U.S. oil inventory drawdown last week.
 Oil was lower Thursday on profit-taking after a big drawdown in U.S. crude stocks.
 Oil prices fell on Thursday on profit-taking, after markets rallied the previous day on another unseasonal draw in
U.S. crude oil stocks helping bullish sentiment from an expectation of an OPEC-led cut in production.
 Oil prices fell on Thursday as traders took profits following a rally in the previous session fueled by an
unexpectedly large U.S. oil inventory drawdown last week and hopes for an output cut by major producers.
Aaj Ka Trend
21st 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 1263.5
Silver 17.43
Crude Oil 50.39
Brent Crude Oil 51.17
Natural Gas 3.10
COMEX/NYMEX/ICE ( Precious Metals & Energy) Currency & Commodity Index
Currency (Spot) Current Price
USD / INR 66.88
Dollar Index 98.50
EUR / USD 1.09
CRB Index* 188.70
Closing as on 20.10.16 *Closing as on 20.10.16
LME (Base Metals) ( $ per tones)
Commodity Closing Price
Copper 4632
Aluminum 1623
Zinc 2281
Lead 2011
Nickel 10081
SHFE (Base Metals) (Yuan per tones)
Commodity Closing Price
Copper 37060
Aluminum 12520
Zinc 17680
Lead 15220
Closing as on 20.10.16 Closing as on 20.10.16
LME INVENTORY DATA
Aaj Ka Trend
14-Oct-16 17-Oct-16 18-Oct-16 19-Oct-16 20-Oct-16
Aluminium -10000 -6226 2548 24751 36802
Copper 2925 -3274 2201 2621 -2049
Lead 0 -151 601 601 -677
Nickel 612 1768 -1195 -8 1549
Zinc -375 -248 102 -277 -374
21st Oct’16

5. Equities I Commodities I Currencies I Mutual Funds
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Contact Us
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
21st 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: 2016.10.21 08:27:31 +05'30'