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MCX DAILY REPORT BY REVENUE MAKER

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MCX DAILY REPORT BY REVENUE MAKER

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  1. DAILY COMMODITY REPORT 14/3/2019 WWW.REVENUEMAKER.IN

  2. DAILY UPDATE MARKET UPDATE BULLIONS -Bullion counter may trade with mixed bias Gold held close to two-week highs on Thursday as the U.S. dollar eased after British lawmakers rejected a no-deal Brexit in any scenario and as tepid U.S. inflation data reduced the chance of future U.S. interest rate hikes. The British parliament on Wednesday rejected leaving the European Union without a deal, further weakening Prime Minister Theresa May and paving the way for a vote that could delay Brexit until at least the end of June. Gold can take support near 32050 and can recover towards 32250. Silver can take support near 38500 and can recover towards 38900. U.S. producer prices barely rose in February, resulting in the smallest annual increase in more than 1-1/2 years, in the latest sign of benign inflation that supports the Federal Reserve's wait-and-see approach to further interest rate hikes this year. U.S. President Donald Trump said on Wednesday he was in no rush to complete a trade pact with China and insisted that any deal include protection for intellectual property, a major sticking point between the two sides during months of negotiations. WWW.REVENUEMAKER.IN

  3. MARKET UPDATE ENERGY: Crude oil may open on positive bias as it may test 4100 in MCX. Brent crude oil prices on Thursday hit their highest so far this year, pushed up by ongoing supply cuts led by OPEC and by U.S. sanctions against Venezuela and Iran. An unexpected dip in U.S. crude oil inventories and production also lifted prices, The Organization of the Petroleum Exporting Countries (OPEC) and some nonaligned producers including Russia have been withholding oil supply since the start of the year to tighten global markets and prop up crude prices. In Venezuela, oil production and exports have been disrupted by a political and economic crisis that has caused massive blackouts and supply shortages, while Washington has barred U.S. companies from doing business with the Venezuelan government, including state-owned oil firm PDVSA. Natural gas may remain sideways as it can take support near 195 while taking facing resistance near 200 in MCX. U.S. natural gas futures settled higher on Wednesday on expectations that a federal report on Thursday will show a much higher-than-normal weekly withdrawal, deepening the storage deficit. MARKET UPDATE METALS: Base metals prices may trade with sideways bias. Growth in China's industrial output fell to a 17-year low in the first two months of the year, pointing to further weakness in the world's second-biggest economy. But investment picked up speed as the government fast- tracked more road and rail projects, offering some relief for policymakers as they work to avert a sharper slowdown, data showed on Thursday. Copper may take support near 446 and can face resistance near 458 in MCX. Zinc can take support near 196 while facing resistance near 201. Zinc edged down from near eight-month highs on Thursday after comments from U.S. President Donald Trump chilled optimism over an imminent China trade deal, while tight supply of metal underpinned prices. LME zinc stocks have fallen to 58,950 tonnes, the lowest since October 2007, and down from around 250,000 tonnes as recently as August. In recent years, traders have been holding metal outside LME warehouses where storage is cheaper. Lead can move in range of 145-147. Nickel can also test 925 while taking support near 900. Aluminum prices may recover towards 149. WWW.REVENUEMAKER.IN

  4. DAILY SUPPORT/RESISTANCE GOLD (FEBRUARY) RESISTANCE 2: 32242 RESISTANCE 1: 32231 SUPPORT1: 32202 SUPPORT2: 32184 SILVER(FEBRUARY) RESISTANCE 2: 38810 RESISTANCE 1:38785 SUPPORT1: 38729 SUPPORT2: 38698 CRUDE OIL (FEBRUARY) RESISTANCE 2: 4061 RESISTANCE 1: 4053 SUPPORT1: 4034 SUPPORT2: 4023 COPPER (FEBRUARY) RESISTANCE 2:453.65 RESISTANCE 1:453.35 SUPPORT1:452.60 SUPPORT2:452.15 WWW.REVENUEMAKER.IN

  5. GOLD (DAILY) TECHNICAL OUTLOOK : Gold prices exceeded a two-week high on Wednesday, after returning to the $1,300 per ounce level in the prior session, as investor appetite grew for the safe-haven metal, after UK parliament rejected an amended Brexit deal, as a weaker dollar gave more support. On the daily chart, price has given “Symmetrical Triangle” breakout and sustained above the formation; which suggest more bullish trend in the counter. In addition, Price has also found the support at middle “Bollinger Band” formation and shifted into positive zone. Hence, we expect bullish move in the prices for the day. Strategy for Traders: Gold trend is BULLISH. Support & Resistance- 32202/32231. WWW.REVENUEMAKER.IN

  6. SILVER (DAILY) TECHNICAL OUTLOOK : MCX Silver price has up by 0.34% on Wednesday session. On the daily chart, price has taken rising trendline and sustained above it. Moreover, In addition, Price has also found the support at middle “Bollinger Band” formation and shifted into positive zone. On the other hand, a momentum indicator MACD has also moved up and shown positive crossover. On an hourly chart, price has moved above 21 days SMA, which signifies bullish sentiments in the counter, which led to upside in the price. Hence, we expect bullish move in the prices for the day. Strategy for Traders:. Silver trend is BULLISH. Support & Resistance - 38729/38785 WWW.REVENUEMAKER.IN

  7. COPPER (DAILY) TECHNICAL OUTLOOK: MCX Copper price has closed flat on Wednesday, as speculators extended their holdings amid a healthy trend in base metals overseas. On the daily chart, price has sustained above Inverse H&S pattern breakout and near to lower Bollinger band formation, which indicates further strength in the counter. On a weekly timeframe, price has been hovering between 61.8% to 50% 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: bullish trend shows chart. Support & Resistance -452.60/453.35 WWW.REVENUEMAKER.IN

  8. CRUDE (DAILY) TECHNICAL OUTLOOK:Oil futures rose to near a two-week high on Wednesday, as the ongoing political and economic crisis in OPEC-member Venezuela further restricts supply from what was once one of the world's biggest exporters. On the an hourly chart, price has given falling channel breakout, which suggests bullish rally will continue further for near term. Moreover, price has moved above 21 days SMA, which signifies bullish sentiments in the counter, which led to upside in the price. In addition, a momentum indicator RSI (14) and MACD has shown positive crossover. Hence, we expect bullish move for the day. Strategy for Traders:. -Bullish Trend. Support & Resistance -4034/4053. 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

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