Choicebroking: #Aajkatrend : Bullions: MCX Gold June Hourly Chart CMP: 29800

1. Equities I Commodities I Currencies I Mutual Funds
Aaj Ka Trend
Technical View:
It can be observed that MCX Gold prices have given
breakdown of its Rectangle pattern formation at 29607 levels
on hourly chart. Furthermore, on MCX Gold Evening Star
candlestick reversal pattern is visible on weekly chart. On the
other hand, prices are trading below its 21 HEMA on hourly
chart. The momentum indicator, MACD has shown negative
crossover which suggests negative momentum in prices. For
now we expect prices should move lower towards 29250
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: 29800
MCX Gold (June) Trend: Bearish
Price potential: 29250 Reversal:29850
MCX Silver July Hourly Chart CMP: 40800
Technical View:
MCX Silver prices after witnessing negative breakdown of
lower arm of Symmetrical Triangle formation on hourly chart
is trading below its trend line resistance. Furthermore, counter
is trading below its 100 HEMA on hourly chart. On the other
hand, momentum indicator RSI is holding trend line resistance
at 40 levels on hourly chart which gives negative confirmation
to the prices. For now we expect prices to move lower
towards 39950 levels in few trading sessions.
MCX Silver (July) Trend: Bearish
Price potential: 39950 Reversal: 41190
Pivot levels for the Day
S1 S2 S3 Pivot R1 R2 R3
Gold 29550 29450 29193 29707 29807 29964 30221
Silver 40591 40462 40175 40749 40878 41036 41323
11th May’16

2. Equities I Commodities I Currencies I Mutual Funds
Technical View:
MCX Copper Prices have witnessed breakdown of its
consolidation formation at 312.25 on hourly charts.
However, MCX Copper prices is trading below its 50 HEMA
on hourly chart which indicates short term trend remains
down. Furthermore counter is trading in Falling Channel
formation on hourly chart. On the other hand, momentum
indicator RSI has moved below 40 levels on hourly chart
which gives negative confirmation to the prices. For now
we expect prices to move lower towards 303 levels in
coming trading sessions.
SEBI Registered - Research Analyst Equities I Commodities I Currencies I Mutual Funds
MCX Copper June hourly Chart CMP: 312.15
MCX Copper (June) Trend: Bearish
Price potential: 303 Reversal: 317
MCX Crude Oil May. Hourly Chart CMP: 2969
Technical View:
MCX Crude Oil prices are trading in Descending Channel
formation on hourly time frame. On Weekly chart, the MCX
Crude Oil price has completed a “Bearish White Swan
Harmonic Pattern” at 3115 levels. Moreover, counter is
trading below its 100 HEMA on hourly chart. On the other
hand, momentum indicator RSI is facing resistance at 60
levels on hourly chart which gives negative confirmation to
the prices. For now we expect prices to move lower towards
2875 levels in coming trading sessions.
MCX Crude Oil (May) Trend: Bearish
Price potential: 2875 Reversal: 3015
Pivot levels for the Day
S1 S2 S3 Pivot R1 R2 R3
Copper 310.8 309.1 304.9 313.3 315.0 317.5 321.7
Crude 2907 2851 2761 2941 2997 3031 3121
Base Metal
Energy
Aaj Ka Trend
11th 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 310.8 309.1 304.9 313.3 315.0 317.5 321.7
Aluminum 103.1 102.6 101.5 103.8 104.2 104.9 106.1
Lead 116.1 115.2 113.7 116.7 117.6 118.2 119.7
Nickel 578.6 572.6 562.1 583.1 589.1 593.6 604.1
Zinc 122.7 122.2 121.2 123.2 123.7 124.2 125.2
Natural Gas 140.8 137.9 132.8 143.0 145.9 148.1 153.2
Fundamental News:
 Gold prices gained slightly in Asia on Tuesday after mixed consumer and producer price data from China.
 Gold futures held steady in European trade on Tuesday, after falling to the lowest level in almost two weeks
overnight, as investors continued to monitor movements in the U.S. dollar.
 Gold futures struggled near the lowest level in almost two weeks in North American trade on Tuesday, as
investors continued to monitor movements in the U.S. dollar.
 Iran has set its June official selling prices (OSPs) for heavier crude grades it sells to Asia at the biggest discounts
to Saudi and Iraqi oil since 2007-2008, raising the stakes in its fight to regain market share.
 Internal differences are killing OPEC and its ability to influence the markets has all but evaporated, top Russian
oil executive Igor Sachem told Reuters in some of his harshest remarks ever about the oil cartel.
 Oil rose on Tuesday, boosted by supply disruptions in Canada and elsewhere that have knocked out 2.5 million
barrels of daily production and temporarily eclipsed concern over high global inventories and a looming surplus
of refined products.
 Oil prices were higher in North American trade on Tuesday, after flipping between gains and losses overnight, as
investors looked ahead to fresh weekly information on U.S. stockpiles of crude and refined products.
 U.S. natural gas futures rose sharply on Tuesday, as forecasts for late this week and early next week turned
cooler, boosting near-term demand expectations for the heating fuel.
Aaj Ka Trend
11th 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 1267.60
Silver 17.18
Crude Oil 44.65
Brent Crude Oil 45.53
Natural Gas 2.17
COMEX/NYMEX/ICE ( Precious Metals & Energy) Currency & Commodity Index
Currency (Spot) Current Price
USD / INR 66.67
Dollar Index 94.22
EUR / USD 1.1374
CRB Index* 180.28
Closing as on 10.05.16 *Closing as on 10.05.16
LME (Base Metals) ( $ per tones)
Commodity Closing Price
Copper 4680
Aluminum 1554
Zinc 1848
Lead 1747
Nickel 8710
SHFE (Base Metals) (Yuan per tones)
Commodity Closing Price
Copper 35960
Aluminum 11965
Zinc 14770
Lead 13000
Closing as on 10.05.16 Closing as on 10.05.16
LME INVENTORY DATA
Aaj Ka Trend
04-May-16 05-May-16 06-May-16 09-May-16 10-May-16
Aluminium -12350 -2900 -6275 -2900 -7150
Copper 1825 2300 225 2300 1300
Lead -200 -650 550 -650 1575
Nickel -1062 150 -1308 150 24
Zinc -4275 -1225 -1125 -1225 -825
11th May’16

5. Equities I Commodities I Currencies I Mutual Funds
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Amit Pathania
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SEBI Registered - Research Analyst Equities I Commodities I Currencies I Mutual Funds
Aaj Ka Trend
11th 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: 2016.05.11 08:40:29 +05'30'