- Gold prices moved higher on news of slower than expected Chinese economic growth weakening the US dollar. Technical analysis indicates gold prices may continue to rise further. - Copper prices declined after data showed China's economy grew at its slowest pace in over 5 years, but technical analysis signals copper prices could rise to new highs if support levels are maintained. - Crude oil prices rose due to better than expected Chinese and US economic data fueling hopes of increased demand, while natural gas futures fell to 11-month lows on expectations of mild winter weather dampening demand.

1. 22nd Oct’14 Aaj Ka Trend
Bullions MCX Gold Dec Hourly Chart
Technical View: As expected prices moved higher achieving our short term target of 27600 levels. Bias remains bullish with no change in outlook. However, move above 27620 would confirm the positive momentum in prices as it happens to be the previous intermediate high. Break above 27600 could head prices towards 27750/27900 levels. the momentum indicator, RSI has also remained above 60 levels which gives positive confirmation for prices to move higher. MCX Silver Dec Hourly Chart
Technical View: No clear direction has been generated in MCX Silver prices. Prices remained in the sideways direction for one more trading session supported by the momentum indicator, RSI which is ranging between 60-40 levels. 39100-38250 levels can be considered as the range for the trading session while breach of the mentioned levels could give 500/600 points move.

2. 22nd Oct’14 Aaj Ka Trend
Fundamental News:
• Gold gains on soft Chinese growth data.
• Gold prices moved higher on Tuesday on news that China's gross domestic product grew less in the third quarter than in the second, which softened the dollar on fears that a cooling global economy may weigh on U.S. recovery.
• Gold and the dollar tend to trade inversely with one another.
• On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at $1,252.20 a troy ounce, up 0.60%, up from a session low of $1,245.80 and off a high of $1,255.60.
Pivot Levels for the Day:
S1
S2
S3
Pivot
R1
R2
R3
Gold
27464
27374
27196
27552
27642
27730
27908
Silver
38546
38326
37891
38761
38981
39196
39631
Recommendation:
Gold
Buy
Silver
Neutral

3. 22nd Oct’14 Aaj Ka Trend
Base Metals MCX Copper Nov Hourly Chart
Technical Views: As mentioned, prices moved higher achieving our first short term target of 411 levels. Outlook remains bullish as it can be observed that prices are trading in possible bullish flag formation after steep up move which confirms the strength in the prices. RSI has also moved above 60 which are suggesting momentum in prices. For now, as long as 406 levels are protected on downside prices can move towards 415/418 levels.
3
MCX Aluminum Oct Hourly Chart
MCX Lead Oct Hourly Chart
MCX Nickel Oct Hourly Chart
MCX Zinc Oct Hourly Chart

4. 22nd Oct’14 Aaj Ka Trend
Fundamental News:
• Copper futures edge lower after China GDP data. • Copper prices declined during European morning trade on Tuesday, after data showed that China's economy grew at the slowest pace in more than five years during the third quarter.
• On the Comex division of the New York Mercantile Exchange, copper futures for December delivery traded at $2.978 a pound during European morning hours, down 0.9 cents, or 0.29%.
Pivot Levels for the Day:
S1
S2
S3
Pivot
R1
R2
R3
Copper
406.7
402.4
395.5
409.3
413.6
416.2
423.1
Aluminum
119.9
118.3
115.7
121.0
122.6
123.6
126.3
Lead
122.3
120.6
117.8
123.4
125.1
126.2
129.0
Nickel
925.0
913.5
893.0
934.0
945.5
954.5
975.0
Zinc
133.6
131.6
128.5
134.7
136.7
137.8
140.9
Recommendation:
Copper
Buy
Aluminum
Buy
Lead
Buy
Nickel
Sell on Rallies
Zinc
Sell

5. 22nd Oct’14 Aaj Ka Trend
Energy MCX Crude Nov Hourly Chart:
Technical Views: There has been no change in the outlook as long as 4935 levels are protected on downside. In yesterday’s session prices remained in sideways to negative but as long as mentioned levels are protected prices can move towards 5100/5150 levels. RSI has remained at 40 levels on hourly chart. MCX Natural Gas Oct Hourly Chart:
Technical Views: Prices remained weak in the first half of the trading session however recovered in the last few hour of trading session. 228 levels could act as a resistance level while 222 could act as support level for the day. RSI remains above 40 levels.

6. 22nd Oct’14 Aaj Ka Trend
Fundamental News:
• Better-than-expected Chinese growth data and U.S. home sales figures pushed crude prices higher on Tuesday by fueling hopes that demand for the commodity may firmer than once anticipated..
• In the New York Mercantile Exchange, West Texas Intermediate oil futures for delivery in December traded up 0.23% at $82.10 a barrel during U.S. trading, up from a session low of $81.77 a barrel and off a high of $83.25 a barrel.
• Natural gas futures slump to fresh 11-month low in early trade
• U.S. natural gas futures fell to an 11-month low for the second consecutive day on Tuesday, as investors bet that mild weather will dampen early-winter demand for the heating fuel.
• On the New York Mercantile Exchange, natural gas for delivery in November slumped to a session low of $3.640 per million British thermal units, a level not seen since November 20, 2013.
Pivot Levels for the Day:
S1
S2
S3
Pivot
R1
R2
R3
Crude
4988
4951
4849
5053
5090
5155
5257
Natural Gas
244.0
231.3
227.1
235.5
248.2
239.7
243.9
Recommendation:
Crude
Buy
Natural Gas
Neutral

7. 22nd Oct’14 Aaj Ka Trend
Sumeet Bagadia (Associate Director) sumeet.bagadia@choiceindia.com
Ritesh Patel (Research Associate) ritesh.patel@choiceindia.com
Deveya Gaglani (Research Advisor) deveya.gaglani@chocieindia.com
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8. 22nd Oct’14 Aaj Ka Trend
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