1. 20th Nov’14 Aaj Ka Trend
Bullions MCX Gold Dec Daily Chart
Technical View: Prices moved higher in the first half of the trading session but failed to sustain at higher levels and drifted lower achieving both the short term targets. However in the last few hours of the trading session prices have recovered the fall and closed on a positive note. We now remain cautious as prices have taken resistance near 61.8% retracement level but failed to give close above the same. MCX Silver Dec Daily Chart
Technical View: Prices drifted lower almost achieving out second short term target. Outlook remains neutral as prices are trading near its resistance level of the 36570 levels. close above the same could head prices higher while failure to breach the mentioned level could drift prices lower towards 36000/35800 levels.
2. 20th Nov’14 Aaj Ka Trend
Fundamental News:
• Gold prices held steady on Wednesday, as investors looked ahead to the minutes of the Federal Reserve’s October meeting, due out later in the day, for any clues on the possible timing of an interest rate increase
• On the Comex division of the New York Mercantile Exchange, gold futures for December delivery tacked on 40 cents, or 0.03%, to trade at $1,197.50 a troy ounce during U.S. morning hours
Pivot Levels for the Day:
S1
S2
S3
Pivot
R1
R2
R3
Gold
26401
26205
25823
26587
26783
26969
27351
Silver
35517
35229
34510
35948
36236
36667
37386
Recommendation:
Gold
Neutral
Silver
Neutral
3. 20th Nov’14 Aaj Ka Trend
Base Metals MCX Copper Nov Hourly Chart
Technical Views: Prices gave a gap down opening but failed to sustain at lower level and moved higher. It can be observed from the above chart that prices have given close above its resistance level of 416 and now it is heading towards 420/422 level as long as spike low of 413.25 is protected on downside.
MCX Aluminum Nov Hourly Chart
MCX Lead Nov Hourly Chart
MCX Nickel Nov Daily Chart
MCX Zinc Nov Hourly Chart
4. 20th Nov’14 Aaj Ka Trend
Fundamental News:
• Copper futures stabilized on Wednesday, following two consecutive losses, amid speculation policymakers around the world will have to introduce further stimulus measures to support the global economy and boost growth.
• On the Comex division of the New York Mercantile Exchange, copper for December delivery tacked on 0.7 cents, or 0.23% to trade at $3.009 a pound during European morning hours.
Pivot Levels for the Day:
S1
S2
S3
Pivot
R1
R2
R3
Copper
406.9
404.6
398.1
411.1
413.4
417.6
424.1
Aluminum
124.2
123.4
121.6
125.3
126.0
127.1
129.0
Lead
123.9
123.1
121.2
125.0
125.8
126.9
128.8
Nickel
953.8
945.6
924.6
966.6
974.8
987.6
1008.6
Zinc
138.0
137.4
135.9
138.8
139.5
140.3
141.7
Recommendation:
Copper
Buy
Aluminum
Sell
Lead
Buy
Nickel
Buy
Zinc
Buy
5. 20th Nov’14 Aaj Ka Trend
Energy MCX Crude Dec Hourly Chart:
Technical Views: It can be observed from the above chart that prices have taken support near 78.6 % retracement level of the up move from 4550 – 4752 levels. we now expect prices to test 4740 levels follower by 4800 levels as long as 4622 levels are protected on down side. MCX Natural Gas Oct Hourly Chart:
Technical Views: Initially prices moved higher achieving both the short term targets. We now remain cautious in buying natural gas as prices have taken resistance near 278 which is previous intermediate high. We now expect healthy consolidation of 5/7 rs. For one leg higher.
6. 20th Nov’14 Aaj Ka Trend
Fundamental News: .
• West Texas Intermediate oil futures recovers after data showed that oil supplies in the U.S. increased unexpectedly last week.
• On the New York Mercantile Exchange, crude oil for delivery in January traded at $74.49 a barrel during U.S. morning hours, down 15 cents, or 0.2%. Prices were around $74.73 a barrel prior to the storage report.
• U.S. natural gas prices soared on Wednesday, as blistering cold air blasted across most of the U.S., fuelling expectations for increased heating demand. On the New York Mercantile Exchange, natural gas for delivery in December rose by as much as 4.5% to touch a daily peak of $4.444 per million British thermal units, the most since November 10.
Pivot Levels for the Day:
S1
S2
S3
Pivot
R1
R2
R3
Crude
4555
4503
4367
4639
4691
4775
4911
Natural Gas
203.2
224.6
213.7
235.5
214.1
246.4
257.3
Recommendation:
Crude
Buy
Natural Gas
Sell
8. 20th Nov’14 Aaj Ka Trend
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 recommendations may be subject to change. The information and any disclosures provided herein may be considered confidential. Any use, distribution, modification, copying, forwarding or disclosure by any person is strictly prohibited. The information and any disclosures provided herein do not constitute a solicitation or offer to purchase or sell any security or other financial product or instrument. The current performance may be unaudited. Past performance does not guarantee future returns. There can be no assurance that investments will achieve any targeted rates of return, and there is no guarantee against the loss of your entire investment. POTENTIAL CONFLICT OF INTEREST DISCLOSURE (as on date of report) Disclosure of interest statement – • Analyst interest of the stock /Instrument(s): - No. • Firm interest of the stock / Instrument (s): - No.
Disclaimer
