1 / 9

Market Live

SEBI Registered Advisory Company in Indore. That follow all the rules that are apply by SEBI. top 10 stock advisory company Indore Revenue Maker is the best financial platform to get daily intraday stock market recommendations and market calls. You can also visit our site to have free trading trials.

revenuemaker2018
Download Presentation

Market Live

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. DAILY COMMODITY REPORT 08/3/2019 WWW.REVENUEMAKER.IN

  2. DAILY UPDATE MARKET UPDATE BULLIONS -On Thursday, Spot gold prices declined by 0.07 percent to close at $1285.5 per ounce. Gold prices recovered yesterday over change in the market sentiments but appreciating Dollar capped the gains.. Dovish stance by the ECB supported the U.S. Dollar Index which in turn limited the gains for the yellow metal. The ECB will hold back their monetary tightening until 2020. On the MCX, Gold prices declined by 0.42 percent to close at Rs.31948.0 per 10 gms. On Thursday, Spot silver prices traded lower by 0.36 percent to close at $15.0 per ounce. On the MCX, silver prices declined by 0.30 percent to close at Rs.38612.0 per kg. Dovish stance by ECB led to a rally in Dollar in turn pressurizing the base metals. On the MCX, gold prices are expected to trade lower today; international markets are trading higher by 0.12 percent at $1287.65 per ounce. Bullion counter may trade sideways path as gold held steady on Friday as risk appetite faded after the European Central Bank cut its growth forecasts and launched an emergency round of policy stimulus, while a strong dollar capped gains ahead of U.S. nonfarm payrolls data. Gold can take support near 31800 while it can face resistance near 32200. Silver can take support near 37900 while facing resistance near 38300. The ECB changed track on its tightening plan on Thursday, pushing out the timing of its first post-crisis rate hike until 2020 at the earliest and offering banks a new round of cheap loans to help revive the euro zone economy. U.S. President Donald Trump is open to additional talks with Pyongyang over denuclearization, his national security adviser said on Thursday, despite reports that North Korea is reactivating parts of its missile program. China’s gold reserves rose slightly to $79.498 billion in February from $79.319 billion at the end of January, as the central bank increased the total amount of gold reserves to 60.260 million fine troy ounces from 59.940 million troy ounces. WWW.REVENUEMAKER.IN

  3. MARKET UPDATE ENERGY: On Thursday, WTI Crude prices rose by 0.8 percent to close at $56.7 per barrel over excess production from the United States. Oil prices were steady the supply cuts by OPEC and its allies and U.S. sanctions on OPEC members Venezuela and Iran over powered the record production by US. Prices were further pressurized after the ECB was a little downbeat on growth which raised demand concerns fro Crude. Global demand concerns for Crude might pressurize the prices. On the MCX, oil prices are expected to trade lower today, international markets are trading lower by 0.58 percent at $56.33 per barrel. Base metals prices may trade with sideways bias. China’s decision to increase its budget deficit ratio to 2.8 percent this year from 2.6 percent in 2018 is appropriate for the economy, and leaves room for policymakers to manoeuvre. Copper may take support near 450 while facing resistance near 458 in MCX .London copper prices were little changed on Friday with the market set for a weekly decline, as rising inventories and a drop in the premium for directly available metal signalled easing supply squeeze. Inventories in LME-registered warehouses rose to 120,075 tonnes from 116,872 tonnes on Wednesday, the lowest since 2008. Optimism over the ability of a potential U.S.-China trade deal and Chinese economic stimulus to push prices higher is fading. Zinc can test 191 while facing resistance near 195. Lead can dip further towards 145. Nickel can also test 915 while facing resistance near 930. Aluminum prices may trade in range of 143-145. Rusal, the world’s largest aluminium producer outside China, said on Thursday its business was back to normal after U.S. sanctions were lifted in January, and reiterated a positive outlook for the global aluminium market. MARKET UPDATE METALS: On Thursday, Base metals on the LME traded negative. Sharp declined was witnessed in Nickel prices on the LME as well as the MCX. Appreciating Dollar weighed on the base metal prices. Base metal prices declined after increasing inventory levels and a drop in the premium for directly available metal pointed towards easing of supply squeeze on the LME. On the MCX, Base metals traded in line with the international market trends. On Thursday, LME Copper prices declined by 0.7 percent to close at $6423.5 per tonne whereas on the MCX prices declined by 0.2 percent to close at Rs.454.1 per kg. Easing of trade tension between US & China has supported Copper prices. However, weak numbers from China, the world’s biggest metal consumer, weighed on the red metal prices. LME Copper price are currently trading lower by 0.24 percent at $6420.75 per tonne. Slowdown in China might continue to weigh on the Base Metal prices. On the MCX, copper prices are expected to trade lower today. Crude oil may open on negative note as oil prices fell on Friday after the European Central Bank (ECB) warned economic weakness would continue and as U.S. crude output and exports chase new records, undermining efforts by producer club OPEC to tighten global markets. Crude oil can test 3920 while facing resistance near 4000. Financial markets, including crude oil futures, took a hit after ECB President Mario Draghi said on Thursday the economy was in “a period of continued weakness and pervasive uncertainty”. Europe’s economic weakness comes as growth in Asia is also slowing down. On the supply side, prices have been receiving support this year from output cuts led by the Organization of the Petroleum Exporting Countries (OPEC). Together with some non-affiliated producers like Russia, the producer group has pledged to withhold around 1.2 million barrels per day (bpd) of supply to tighten markets and prop up prices. Natural gas may take support near 197 while taking facing resistance near 204 in MCX. WWW.REVENUEMAKER.IN

  4. DAILY SUPPORT/RESISTANCE GOLD (FEBRUARY) RESISTANCE 2: 32080 RESISTANCE 1: 32007 SUPPORT1: 31819 SUPPORT2: 31704 SILVER(FEBRUARY) RESISTANCE 2: 38416 RESISTANCE 1:38240 SUPPORT1: 37888 SUPPORT2: 37712 CRUDE OIL (FEBRUARY) RESISTANCE 2: 4029 RESISTANCE 1: 4005 SUPPORT1: 3946 SUPPORT2: 3911 COPPER (FEBRUARY) RESISTANCE 2:457.17 RESISTANCE 1:455.63 SUPPORT1:452.03 SUPPORT2:449.97 WWW.REVENUEMAKER.IN

  5. GOLD (DAILY) TECHNICAL OUTLOOK:Snapping its downward trend, gold prices on Friday witnessed a rise of Rs 200 to Rs 33,270 per 10 grams at the bullion market. Globally, spot gold traded higher at USD 1290.60 an ounce and silver held steady at USD 15.08 an ounce in New York. In the national capital, gold of 99.9 per cent and 99.5 per cent purities gained Rs 200 each to Rs 33,270 and Rs 33,100 per 10 grams, respectively. Strategy for Traders: Gold trend is bearish. Sell below 31780. Support & Resistance- 32836/33255 WWW.REVENUEMAKER.IN

  6. SILVER (DAILY) TECHNICAL OUTLOOK: MCX Silver price has consolidated. On the daily timeframe, price has given Rising Channel breakdown and moved below 50 DEMA, which indicates recovery for near term. So based on the above technical structure, we expect bullish movement in the price for the day. Strategy for Traders:. Trend bullish BUY above 38216 Support & Resistance - 37888/38240 WWW.REVENUEMAKER.IN

  7. COPPER (DAILY) TECHNICAL OUTLOOK: MCX Copper prices were slightly down on Wednesday session and settled below prior close. On the daily chart, price has sustained above Inverse H&S pattern breakout and lower Bollinger band formation, which indicates bullish strength in the counter. On a weekly timeframe, price has been hovering near 61.8% retracement level, which support the uptrend for near term. So based on the above technical aspects we recommend bullish movement for the day. Strategy for Traders: bearish trend shows charts go for sell below . Support & Resistance -461.28/464.73 WWW.REVENUEMAKER.IN

  8. CRUDE (DAILY) TECHNICAL OUTLOOK:Oil price has recovered after the inventories rose more than expected last week. On the daily chart, price has given rising channel formation breakdown and sustained below it. However, price has been hovering near lower band which could be a further support for the prices. Moreover, a daily momentum indicator RSI (14) and MACD has shown negative crossover. Hence, we expect bearish move for the day. Strategy for Traders:. -Bearish Trend Sell is advised below 3960. With Support & Resistance -3946/4005 WWW.REVENUEMAKER.IN

  9. DISCLAIMER The information and views in this report, our website & all the service we provide are believed to be reliable, but we do not accept any responsibility (or liability) for errors of fact or opinion. Users have the rights to choose the product/s that suits them the most. Investment in Stocks has its own risks. Sincere efforts have been made to present the right investment perspective. The information contained herein is based on analysis and upon sources that we consider reliable. We, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and we are not responsible for any loss incurred based upon it & takes no responsibility whatsoever, for any financial profit or losses which may arise from the recommendations given above. The stock price projections shown are not necessarily indicative of future price performance. The information herein, together with all estimates and forecasts, can change without notice. Revenue Maker does not purport to be an invitation or an offer to buy or sell any financial instrument. Analyst or any person related to Revenue Maker might be holding positions in the stocks recommended. It is understood that anyone who is browsing through the site has done so at his free will and does not read any views expressed as a recommendation for which either the site or its owners or anyone can be held responsible for. Any surfing and reading of the information is the acceptance of this disclaimer. All Rights Reserved. Our Clients (Paid or Unpaid), any third party or anyone else have no rights to forward or share our calls, SMS, reports or any other Information provided by us to/with anyone which is received directly or indirectly by them. If found so then Serious Legal Actions can be taken. Any surfing and reading of the information is the acceptance of this disclaimer. All Rights Reserved by Revenue Maker. WWW.REVENUEMAKER.IN

More Related