#ChoiceBroking #Aajkatrend : Bullions: MCX Gold Oct Hourly Chart CMP: 29955

1. Equities I Commodities I Currencies I Mutual Funds
Aaj Ka Trend
Technical View:
MCX Gold price are trading in a consolidation range at 30000
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 30300 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: 29955
MCX Gold (Dec) Trend: Bullish
Price potential: 30300 Reversal: 29800
MCX Silver Dec Hourly Chart CMP: 41958
Technical View:
On hourly chart, MCX Silver prices are trading in rectangle
pattern formation at 42000 levels. On the other hand, COMEX
Silver prices are trading near its trend line support on hourly
time. In addition, MCX Silver are hovering near its 21 HEMA on
hourly time frame. Moreover, Momentum indicator RSI is
trading in oversold zone on hourly basis. For now we expect
prices to move higher towards 42600 levels in few trading
sessions.
MCX Silver (Dec) Trend: Bullish
Price potential: 42600 Reversal: 41550
Pivot levels for the Day
S1 S2 S3 Pivot R1 R2 R3
Gold 29816 29730 29565 29895 29981 30060 30225
Silver 41852 41708 41456 41960 42104 42212 42464
24th 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, COMEX Copper is trading below its
trend line resistance on hourly 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 304 levels in coming trading sessions.
SEBI Registered - Research Analyst Equities I Commodities I Currencies I Mutual Funds
MCX Copper Nov hourly Chart CMP: 311.30
MCX Copper (Nov) Trend: Bearish
Price potential: 304 Reversal: 315.70
MCX Crude Oil Oct. Hourly Chart CMP: 3409
Technical View:
MCX Crude Oil prices are trading above its upward slanting
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 3475 levels in coming trading
sessions.
MCX Crude Oil (Oct) Trend: Bullish
Price potential: 3475 Reversal: 3365
Pivot levels for the Day
S1 S2 S3 Pivot R1 R2 R3
Copper 310.4 309.3 307.3 311.4 312.4 313.4 315.5
Crude 3373 3348 3297 3399 3424 3450 3501
Base Metal
Energy
Aaj Ka Trend
24th 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 310.4 309.3 307.3 311.4 312.4 313.4 315.5
Aluminum 107.3 106.9 105.8 108.0 108.4 109.1 110.2
Lead 131.8 130.7 128.6 132.8 133.9 134.9 137.0
Nickel 668.9 662.5 652.6 672.4 678.8 682.3 692.2
Zinc 151.0 149.6 147.4 151.9 153.2 154.1 156.4
Natural Gas 239.9 217.7 211.1 224.3 246.5 230.9 237.5
Fundamental News:
 Gold prices fell in Asia on Friday with a stronger dollar and the rising chances of aerate hike weighing on the
hedge commodity.
 Gold prices slipped lower on Friday, as a stronger U.S. dollar weighed on the precious metal, although the
European Central Bank’s latest policy decision lent some support.
 European Union leaders agreed on Friday to modernize their instruments to defend against unfair trade
practices, the chairman of the meeting Donald Tusk said, noting there was a difference between being
protectionism and protecting one's interests.
 From sharp cuts to Chinese oil production to falling inventories of refined fuel products, signs are mounting that
Asia's oil markets are slowly returning to balance.
 Oil edged higher on Friday as Russia reiterated its commitment to joining a producers' output freeze to stem a
two-year slide in prices but a strong dollar capped gains.
 U.S. oil rose on Friday, hovering above the $50 a barrel threshold after Russia reiterated its commitment to
contribute to a global output freeze, although a stronger U.S. dollar limited the commodity’s gains.
 The dollar remained at eight-month highs against the other majors currencies on Friday, as hopes for a U.S. rate
hike before the end of the year continued to lend broad support to the greenback.
 U.K. public sector borrowing fell less-than-expected in the last quarter, official data showed on Friday.
Aaj Ka Trend
24th 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 1267.05
Silver 17.53
Crude Oil 50.98
Brent Crude Oil 51.91
Natural Gas 2.970
COMEX/NYMEX/ICE ( Precious Metals & Energy) Currency & Commodity Index
Currency (Spot) Current Price
USD / INR 66.92
Dollar Index 98.62
EUR / USD 1.0882
CRB Index* 189.39
Closing as on 21.10.16 *Closing as on 21.10.16
LME (Base Metals) ( $ per tones)
Commodity Closing Price
Copper 4614
Aluminum 1617
Zinc 2240
Lead 1988
Nickel 9918
SHFE (Base Metals) (Yuan per tones)
Commodity Closing Price
Copper 37160
Aluminum 12760
Zinc 17130
Lead 15735
Closing as on 21.10.16 Closing as on 21.10.16
LME INVENTORY DATA
Aaj Ka Trend
17-Oct-16 18-Oct-16 19-Oct-16 20-Oct-16 21-Oct-16
Aluminium -6226 2548 24751 36802 18351
Copper -3274 2201 2621 -2049 -8101
Lead -151 601 601 -677 -676
Nickel 1768 -1195 -8 1549 580
Zinc -248 102 -277 -374 -174
24th 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
24th 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: 2016.10.22 13:18:07 +05'30'