Monday, February 13, 2017
Time
Economic
Release
Country
EXP.
Previous
Market Overview
Gold prices were lower in, as recent actions by U.S.
President Donald Trump helped soothe investor
worries about uncertainty surrounding new
administration’s controversial policies.
Base metals are trading higher with Copper extending
gains to hit its highest in 20 months in heavy trade,
driven up by supply worries after shipments were
shut off from world's two biggest copper mines.
Oil prices fell in response to growing evidence that
U.S. production is rising and as some investor’s
unwound positions ahead of OPEC's first report on
compliance with its deal to cut production.
5:30 PM
OPEC Monthly
Report
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-
-
5.30 PM
India CPI y/y
IN
3.22%
3.41%

Evening View
Commodity
Intraday View
MCX Gold (Apr) price looks to trade in a broad range of Rs.28900 – 29300 and either side
sustained breach may provide further clear direction. Strong intraday support is placed at
Rs.29050 whereas Rs.29225 may act as an immediate resistance.
MCX Gold
Gold $ (SPOT)
Spot Gold has critical support at $1220 - 1217 levels and only sustained break below the
same will confirm weakness targeting $1210 - 1206 levels. Resistances are pegged at $1230 -
1236- 1244 levels.
MCX Silver
MCX Silver has strong supports at Rs.42400 / 41800 whereas resistances are at Rs.42750 -
42950. Bias remains bullish as long as Rs.41800 is held as strong support. However, failure to
breach mentioned resistance zone may result in profit booking / correction later on.
Silver $ (SPOT)
Immediate strong support for Spot Silver is at $17.80 - 17.55 whereas resistance is pegged at
$18.00 - 18.20 area. Consolidation within this area looks possible.
MCX Copper
MCX Copper (Feb) has key supports at Rs.408.50 / 406 whereas strong resistance is at
Rs.412.80 / 415 levels. Dip buying is advised for the session as long as Rs.406 is held as
strong support.
MCX Nickel (Feb) remains strongest of the lot and dip towards Rs.710 would be an
opportunity to go long. Strong intraday resistances are placed at Rs.725 / 732 levels. Lower
support is placed at Rs.702.
MCX Nickel
MCX Crude Oil
MCX Crude Oil looks bullish as long as intraday support at Rs.3570 / 3540 are held. Dip
buying is advised. Strong short-term resistances are placed at Rs.3620 / 3660 levels.
MCX Natural Gas
MCX Natural Gas price is trading closer to make-or-break mark at Rs.198. Sustained trade
below the same could continue the fall targeting Rs.193 whereas failure to breach below the
same may result in profit booking / pullback rally targeting Rs.203 – 207 area.
LEAD
Strong intraday support is placed at Rs.162.50 / 161.50 whereas Rs.165.50 – 166.30 zone
may act as stiff resistance. Dip buying is advised as long as mentioned supports are held.
MCX Zinc is likely to trade in a range between Rs.197.20 – 199.20. Either side breach of this
range would decide the view. Lower support is at Rs.194.60 whereas higher resistance is at
Rs.203.
ZINC
ALUMINIUM
Disclaimer
MCX Aluminium is likely to remain in a sideways to higher range of Rs.124-126.50.