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19/03/2018 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free: 9009010900
19/03/2018 Market Update (Energy): Crude oil may remain in range as it can witness profit booking at higher levels towards 4030 in MCX. Oil prices fell on Monday as increased drilling in the United States pointed to more output, raising concerns about a return of oversupply. Monday's price falls in part reversed increases last Friday, which came on concerns over tensions in the Middle East. U.S. drillers added four oil rigs in the week to March 16, bringing the total count to 800, the weekly Baker Hughes drilling report said on Friday. (Base Market Update Metals): Copper may dip lower towards 444 levels and zinc may test 210. In China, metals inventories have built despite pollution controls that curbed factory output. Aluminium may dip towards 134. Shanghai aluminium stocks surged by 87,303 tonnes to a record high of 934,216 tonnes, data on Friday showed. Shanghai zinc stocks also jumped by around 50,000 tonnes over the past month, while Shanghai copper stocks have nearly doubled since the start of the year, approaching 300,000 tonnes. Market Update (Bullions): Gold prices inched lower early Monday as the dollar remained supported, with investors expecting the U.S. Federal Reserve to raise interest rates at this week's policy meeting. Asian share markets got off to a hesitant start on Monday for a week in which the Fed is likely to deliver a hike in U.S. interest rates and perhaps signal that as many as three more lie in store for the rest of the year. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free: 9009010900
19/03/2018 TECHNICAL ANALYST GOLD GOLD OUTLOOK: TREND: - UP RESISTANCE: - 30300, 30400. SUPPORT: - 30100, 30000. STRATEGY: - SELL ON HGIH. TECHNICAL OUTLOOK TECHNICAL OUTLOOK Gold daily chart has formed "Falling wedge” pattern. The last few sessions been bearish in trend and has ended up near a key support level holding at $1309(30150). The market is expected to continue in bearish trend, once the same breaks below the key support. The downside rally could test all the way through $1305-1300(30050-29925) levels in the upcoming sessions. Alternatively, if the support holds strong then the market might retest the same and turn bullish. The upside rally could test $1315-1320(30300-30425) levels. Key resistance holds at $1330(30675). 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free: 9009010900
19/03/2018 OUTLOOK: SILVER SILVER TREND: - UP RESISTANCE: - 38500, 38700. SUPPORT: - 38100, 37900. STRATEGY: - SELL ON HIGH. TECHNICAL OUTLOOK TECHNICAL OUTLOOK Silver hourly chart has formed "Descending triangle” pattern. The last few sessions seems consolidated as the prices have broken out the pattern itself. The market is expected to continue in bearish momentum, once the same retest the previous support which now acts as key resistance at 38650. The downside rally could test all the way through 38500-38350 levels in the upcoming sessions. Alternatively, if the market breaks above the key resistance then it might continue in bullish momentum. The upside rally could test 38800-39000 levels. Support holds at 38350. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free: 9009010900
19/03/2018 COPPER COPPER OUTLOOK: TREND: - DOWN RESISTANCE: - 447.50,450. SUPPORT: -442.50, 440. STRATEGY: - BUY ON LOW. TECHNICAL OUTLOOK TECHNICAL OUTLOOK Copper daily chart has formed “Rectangle chart” pattern. The last few sessions seems bearish in trend after retesting a resistance level holding near 455. The market is expected to retest a key support holding at 444 and then turn to bullish. The upside rally could test all the way through 446-448 levels in the upcoming sessions. Alternatively, if the market breaks below the key support then it might continue in bearish momentum. The downside rally could test 442-440 levels. 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free: 9009010900
19/03/2018 CRUDE OIL CRUDE OIL OUTLOOK: TREND: - DOWN RESISTANCE: - 4060, 4090. SUPPORT: - 4000, 3970. STRATEGY: BUY ON LOW. TECHNICAL OUTLOOK TECHNICAL OUTLOOK Crude oil daily chart has formed "Symmetrical triangle” pattern. The last session been bullish in trend and has ended up near a key resistance level holding at $62.50(4065). The market is expected to continue in bullish momentum, once the same breaks above the key resistance. The upside rally could test all the way through $63.50-64.50(4130-4195) levels in the upcoming sessions. Alternatively, if the resistance holds strong then the market might retest the same and turn bearish once again. The downside rally could test $61-60(3967- 3902) levels. Key support holds at $60(3902). 301, 3rd Floor, Mangal City, Vijay Nagar, Indore Toll Free: 9009010900
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