Aaj ka trend 07.02.17

Equities I Commodities I Currencies I Mutual Funds
Aaj Ka Trend
Technical View:
MCX Gold price has faced the resistance of its rising trend line
at 29121 levels on the hourly chart. Moreover, MCX Gold
prices have been trading below 200 DEMA on a daily chart. In
addition, COMEX Gold price has faced the resistance of its
horizontal trend line at $1232 levels. Moreover, Momentum
Indicator RSI has shown negative divergence on the hourly
chart. For now, we expect prices should move lower
towards 28700 levels in the coming trading sessions.
SEBI Registered - Research Analyst Equities I Commodities I Currencies I Mutual Funds
Bullions
MCX Gold Apr. Hourly Chart CMP: 29080
MCX Gold (Apr) Trend: Bearish
Price potential: 28700 Reversal: 29250
MCX Silver Mar. 4 Hourly Chart CMP: 42120
Technical View:
On the 4 hourly chart, MCX Silver price has been trading
in rising wedge formation and prices have been facing the
resistance of its upper band of wedge pattern at 42500 levels.
On the other hand, COMEX Silver price has faced the
resistance of its horizontal trend line at $17.70
levels. In addition, momentum indicator MACD has shown
negative crossover on the 4 hourly chart, which indicates
possibilities of further downside in the prices. For now, we
expect prices to move lower towards 41200 levels in few
trading sessions.
MCX Silver (Mar) Trend: Bearish
Pivot levels for the Day
S1 S2 S3 Pivot R1 R2 R3
Gold 28987 28885 28819 29053 29155 29220 29454
Silver 41938 41760 41633 42065 42243 42370 42803
07th Feb’17

Technical View:
MCX Copper price has taken the support of its rising trend
line at 388 levels on the hourly chart. On the hourly chart,
MCX Copper prices have been trading above its 21 HEMA.
Furthermore, momentum indicator MACD has shown
positive crossover on 4 hourly time frame, which suggests
further upside momentum can be seen in the prices. For
now, we expect prices to move higher towards 402 levels
in coming trading sessions.
MCX Copper Feb. Hourly Chart CMP: 393
MCX Copper (Feb) Trend: Bullish
MCX Crude Oil Feb. Hourly Chart CMP: 3616
Technical View:
MCX Crude Oil prices have been hovering around its falling
trend line at 3650 levels on the hourly chart. NYMEX Crude
Oil prices have given the breakdown of its rising trend line at
$54 levels on the hourly chart. MCX Crude Oil has faced the
resistance of its horizontal trend line at 3680 levels.
Moreover, Momentum indicator MCAD has given negative
crossover on hourly chart which suggests negative
movement in the prices. For now, we expect prices to move
lower towards 3500 levels in coming trading sessions.
MCX Crude Oil (Feb) Trend: Bearish
Pivot levels for the Day
S1 S2 S3 Pivot R1 R2 R3
Copper 389.7 387.3 385.6 391 394 395 401
Crude 3595 3581 3558 3618 3632 3655 3714
Base Metal
Energy
Aaj Ka Trend
07th Feb’17

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 389.7 387.3 385.6 391 394 395 401
Aluminum 122.2 121.4 120.9 122.7 123.5 124.0 125.8
Lead 155.3 153.4 152.1 156.6 158.5 159.8 164.2
Nickel 694.2 690.3 687.7 696.8 700.7 703.3 712.5
Zinc 184.7 182.9 181.4 186.2 188.1 189.6 194.4
Natural Gas 202.4 199.8 197.0 205.2 207.8 210.6 218.8
Fundamental News:
 Gold prices added to overnight gains in North American morning trade on Monday, hitting the strongest level
since November as investors sought the perceived safety of the yellow metal amid growing concerns over
political risks around the globe.
 Investors continued to pile in to gold as they eyed political risk elements, with President Donald Trump's
administration on the back foot over its immigration and other policies.
 U.S. employers added 227,000 workers in January, the biggest gain in a month since September. However,
unemployment edged up to 4.8% as more people looked for work, and the pace of wage growth slowed.
 Gold is sensitive to moves in U.S. rates, which lift the opportunity cost of holding non-yielding assets such as
bullion. A gradual path to higher rates is seen as less of a threat to gold prices than a swift series of increases.
 The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major
currencies, was up 0.23% at 99.92 by 7:18AM ET (12:18GMT). It fell to a more than two-month low of 99.19 last
week.
 Oil edged lower Monday after earlier gains on ongoing tensions between the U.S. and Iran.
 Baker Hughes figures Friday showed an increase in the U.S. rig count of 17 to 583.
That was the highest level since October 2015.
 Increased North American shale activity could offset the impact of agreed cuts by other major producers.
 OPEC and non-OPEC producers have agreed to cut output by 1.8 million barrels a day in the first half of this
year.
Aaj Ka Trend
07th Feb’17

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 1221.85
Silver 17.51
Crude Oil 53.86
Brent Crude Oil 56.80
Natural Gas 3.05
COMEX/NYMEX/ICE ( Precious Metals & Energy) Currency & Commodity Index
Currency (Spot) Current Price
USD / INR 67.15
Dollar Index 99.69
EUR / USD 1.07
CRB Index* 193.21
Closing as on 06.02.17 *Closing as on 06.02.17
LME (Base Metals) ( $ per tones)
Copper 5748
Aluminum 1827
Zinc 2769
Lead 2319
Nickel 10178
SHFE (Base Metals) (Yuan per tones)
Copper 46350
Aluminum 13540
Zinc 22250
Lead 18210
Closing as on 06.02.17 Closing as on 06.02.17
LME INVENTORY DATA
Aaj Ka Trend
31-Jan-17 01-Feb-17 02-Feb-17 03-Feb-17 06-Feb-17
Aluminium -4875 1025 -6875 -7024 -6875
Copper -825 -475 -1350 -2351 -3425
Lead -1125 -400 325 -152 100
Nickel 1284 330 -522 -149 102
Zinc -3575 1625 -1625 -1826 -3150
07th Feb’17

This is solely for information of clients of Choice Broking and does not construe to be an investment advice. It is also not intended as an offer or solicitation
for the purchase and sale of any financial instruments. Any action taken by you on the basis of the information contained herein is your responsibility alone
and Choice Broking its subsidiaries or its employees or associates will not be liable in any manner for the consequences of such action taken by you. We
have exercised due diligence in checking the correctness and authenticity of the information contained in this recommendation, but Choice Broking or any of
its subsidiaries or associates or employees shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent
error in the information contained in this recommendation or any action taken on basis of this information. Technical analysis studies market psychology,
price patterns and volume levels. It is used to forecast future price and market movements. Technical analysis is complementary to fundamental analysis
and news sources. The recommendations issued herewith might be contrary to recommendations issued by Choice Broking in the company research
undertaken as the recommendations stated in this report is derived purely from technical analysis. Choice Broking has based this document on information
obtained from sources it believes to be reliable but which it has not independently verified; Choice Broking makes no guarantee, representation or warranty
and accepts no responsibility or liability as to its accuracy or completeness. The opinions contained within the report are based upon publicly available
information at the time of publication and are subject to change without notice. The information and any disclosures provided herein are in summary form
and have been prepared for informational purposes. The recommendations and suggested price levels are intended purely for trading purposes. The
recommendations are valid for the day of the report however trading trends and volumes might vary substantially on an intraday basis and the
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the loss of your entire investment.
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/Instrument(s): - No. • Firm interest of the stock / Instrument (s): - No.
Disclaimer
Contact Us
Amit Pathania
Research Associate
amit.pathania@choiceindia.com
www.choicebroking.incustomercare@choiceindia.com
Aaj Ka Trend
07th Feb’17
Neeraj Yadav
Research Advisor
neeraj.yadav@choiceindia.com
Anish Vyas
Senior Research Associate
anish.vyas@choiceindia.com
Kkunal Parar
Digitally signed by Kkunal Parar
DN: cn=Kkunal Parar, o=Choice Equity
Broking Pvt Ltd., ou=Research Dept.,
email=kkunal.parar@choiceindia.com, c=IN
Date: 2017.02.07 09:27:18 +05'30'

Aaj ka trend 07.02.17

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