Commodity Weekly Report 02 to 06 May Updated

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COMMODITY WEEKLY REPORT

02-06 MAY 2016

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FUNDAMENTAL VIEW:-

Gold gains 4.27 % on weaker dollar :-Gold prices rose by 4.27% in this week as a weaker US dollar and uncertainty

caused by the Bank of Japan’s decision to leave its monetary policy unchanged supported the precious metal. Safe-

haven demand strengthened aer the BoJ chose on Thursday to hold its monetary policy, defying market expectaons

for addional monetary easing.

TECHNICAL VIEW:-

For the next week, gold may be go up 30800 to 31000 level because gold have been closed major resistance level of

30050 on Friday otherwise ,otherwise if Gold may break support 29850 level than selling pressure is expected

TRADING STRATEGY:-

BUY GOLD JUN ON DIPS 29900-30000 TGT 30300,30700 SL BELOW 29500

SELL GOLD JUN ON RISE 30800-30900 TGT 30500,30000 SL ABOVE 31150

WEEKLY SUPPORT AND RESISTANCE :-

SYMBOL R3 R2 R1 PV S1 S2 S3

GOLD 32600

31250 30780 29900 29400 28530 27170

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GOLD(JUN) MCX WEEKLY CHART



FUNDAMENTAL VIEW:-

Silver Prices Rise on a So Dollar :-Precious metals traded higher previous week as the USD was on the back foot fol-

lowing the FOMC rate decision and the Bank of Japan rate meeng.

TECHNICAL VIEW:-

For the coming week, silver may be up 45000-46000 level Otherwise silver may be down if break the level of 40500

TRADING STRATEGY:-

BUY SILVER JULY ON DIPS 41600-41800 TGT 43000,44000 SL BELOW 40400

SELL SILVER JULY ON RISE 46500-46800 TGT 44000,43000 SL ABOVE 47500




SILVER 45400 43200 42400 41050 40200 38870 36670

SILVER(JULY) MCX WEEKLY CHART



FUNDAMENTAL VIEW:

Iran snags more European oil buyers in slog for market share:-Two European reners are set to receive their rst oil

cargoes from Iran since internaonal sancons were lied in January against the country, which is ramping up crude

exports in a bale to take back market share. Iran has pledged to increase producon following sancons liing, and it

declined to parcipate in a meeng on April 17 of producer group OPEC and non-member naons aimed at reaching a

deal to freeze output to prop up prices.

TECHNICAL VIEW:-

For the next week - crude oil may see some retracement in down side. It may face strong resistance on the level of

3300. again sealing presser is seen due to prot booking .so Pleases Follow buy on dips and sell on rise strategy

TRADING STRATEGY:-

BUY CRUDE OIL ON DIPS 2910-2950 TGT 3150,3300 SL BELOW 2700

SELL CRUDE OIL ON RISE 3250-3310 AROUND TGT 3100,2950 SL ABOVE 34000

WEEKLY SUPPORT AND RESISTANCE:-


CRUDE OIL 3525 3260 3150 3000 2880 2735 2475


CRUDE OIL(APRIL) MCX WEEKLY CHART



FUNDAMENTAL VIEW:- Natural Gas dipped 3 points to 2.280 aer yesterday’s ocial EIA inventory and warmer tem-

peratures. US natural gas storage report from the US Energy Informaon Administraon (EIA) recorded an increase of

73bn cubic feet (Bcf) compared with expectaons of a build of around 71bn and a build of 7bn Bcf the previous week.

TECHNICAL VIEW:-

For the next week- Natural gas may go up if break the level of 135 and we can see the target of 145/145

Otherwise natural gas may be go down if it did not hold resistance level of 160

TRADING STRATEGY:-

BUY NGAS ON DIPS 134.136 TGT 145,155 SL BELOW 125

SELL NGAS ON RISE 156-160 TGT 146,135 SL AVOVE 170

WEEKLY SUPPORT AND RESISTANCE:-


NATURALGAS 171 156.50 150 141.50 135 126.50 112


NATURAL GAS(APRIL) MCX WEEKLY CHART



FUNDAMENTAL VIEW:-

Copper gains on strong euro area GDP:-Copper prices rose by 1.23 per cent on weekly basis aer gross domesc

product in the euro zone rose more-than

-expected in the last quarter signaling improving senment in the region

which raised the demand outlook for the metal.

TECHNICAL VIEW:-

For the next week, Copper may be go up if break the level of 332 and we can see the target 345 to 355

Otherwise copper may be down if break lower level of 331

TRADING STRATEGY:-

BUY COPPER JULY ON DIPS 332-334 TGT 345,355 SL BELOW 320

SELL COPPER JULY ON RISE 356-360 TGT 345,335 SL ABOVE 370



COPPER 370 352 345.50 334 327 316 298


COPPER(JULY) MCX WEEKLY CHART




ECONOMY DATA NEXT WEEK



DISCLAIMER

This document is solely for the personal informaon of the recipient, and must not be singularly used as the basis of

any investment decision. Nothing in this document should be construed as investment or nancial advice. Each recipi-

ent of this document should make such invesgaons as they deem necessary to arrive at an independent evaluaon

of an investment in the securies of the companies referred to in this document including the merits and risks in-

volved, and should consult their own advisors to determine the merits and risks of such an investment.

Reports based on technical and derivave analysis center on studying charts of a stock's price movement, outstanding

posions and trading volume. The informaon in this document has been printed on the basis of publicly available

informaon, internal data and other reliable sources believed to be true, but we do not represent that it is accurate or

complete and it should not be relied on as such, as this document is for general guidance only. Trade Nivesh shall not

be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the infor-

maon contained in this report. Trade Nivesh has not independently veried all the informaon contained within this

document. Accordingly, we cannot tesfy, nor make any representaon or warranty, express or implied, to the accu-

racy, contents or data contained within this document. While Trade Nivesh endeavors to update on a reasonable basis

the informaon discussed in this material, there may be regulatory, compliance, or other reasons that prevent us from

doing so.

Investment in equity & Commodity market has its own risks. We Trade Nivesh shall not be liable or responsible for any

loss or damage that may arise from the use of this informaon.


Commodity Weekly Report 02 to 06 May Updated

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