Commodity Premium Daily Journal

Strictly For Client Circulation

Thursday, 12th
October 2017

Gold 29775

Silver 40300

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Market Wrapup
Wednesday, 11th October 2017

Commodity Contract Open Price High Low Close Price

Gold 05-Dec-2017 29780 29822 29690 29700

Silver 05-Dec-2017 40207 40308 40085 40135

Crude Oil 18-Oct-2017 3338 3360 3304 3348

Natural Gas 26-Oct-2017 189.9 193.5 189.9 190.3

Copper 30-Nov-2017 442.25 447.4 441.15 446.7

Zinc 31-Oct-2017 216.55 216.55 211.55 212.75

Lead 31-Oct-2017 165.25 166.9 163.2 166.7

Aluminium 31-Oct-2017 139.9 140.1 138.1 138.3

Nickel 31-Oct-2017 715.1 731.7 708 727.5

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Support & Resistance
Thursday, 12th October 2017

Commodity Contract RES-2 RES-1 PIVOT SUP.1 SUP.2

Gold 05-Dec-2017 29871.67 29789.33 29739.67 29657.33 29607.67

Silver 05-Dec-2017 40397.00 40263.00 40174.00 40040.00 39951.00

Crude Oil 18-Oct-2017 3393.00 3370.00 3337.00 3314.00 3281.00

Natural Gas 26-Oct-2017 194.93 192.77 191.33 189.17 187.73

Copper 30-Nov-2017 451.43 449.22 445.18 442.97 438.93

Zinc 31-Oct-2017 218.65 215.75 213.65 210.75 208.65

Lead 31-Oct-2017 169.30 168.00 165.60 164.30 161.90

Aluminium 31-Oct-2017 140.88 139.67 138.88 137.67 136.88

Nickel 31-Oct-2017 746.23 737.07 722.53 713.37 698.83

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MCX Outlook
Thursday, 12th October 2017

Base Metals may decline further, Crude Oil to remain volatile focus on API report
Base Metals are trading with a negative bias with Zinc and Lead losing the most, down 1.73% and 1.20% respectively. Copper is trading at
Rs.441.55, down 1.50 or 0.34%.

The intraday bias on base metals is negative and we expect a minor correction in prices in the evening session. Copper finds strong support
at Rs.441 breaking which prices may decline to Rs.438-Rs.436 today whereas on the upside, sustained trading above Rs.443 may see prices
move higher later in the evening. Nickel is expected to rally further if it breaks resistance at Rs.718 with our short-term price objectives at
Rs.725-Rs.730.

Crude Oil is trading at Rs.3,322, down 9 points or 0.27% currently. The intraday bias is currently neutral and prices are seen testing support
at Rs.3320 and we feel a sustained trade below this level could trigger another round of profit booking in the commodity.

In the short term, the trend remains positive given the strong sentiment in the market and a daily close resistance at Rs.3360 should trigger
an upside to oils previous highs at Rs.3450 in the next few trading sessions.

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Market News
Thursday, 12th October 2017

Special News
Gold Prices Gain In Asia As Fed Minutes Seen Slightly Dovish
Gold gained in Asia as the Fed appears on track for a December rate hike, but set a somewhat
overall dovish tone on the track for 2018 in minutes released overnight.

Gold futures for December delivery on the Comex division of the New York Mercantile Exchange
rose 0.65% to $1,297.32 a troy ounce.

Federal Reserve policymakers had a prolonged debate about the prospects of a pickup in inflation and slowing the path of future interest
rate rises if it did not, according to the minutes of the U.S. central bank's last policy meeting on Sept. 19-20 released on Wednesday.

Crude Oil Prices Drop In Asia After API Estimates, EIA Data Awaited
Oil prices fell in Asia on Thursday as U.S. industry estimates showed a bearish and unexpected build in
crude inventories and investor awaited official figures.

On the New York Mercantile Exchange crude futures for November delivery dropped 0.55% to $51.02 a
barrel, while on London's Intercontinental Exchange, Brent declined 0.61% to $56.59 a barrel.

U.S. crude oil stocks rose a more-than-expected 3.097 million barrels at the end of last week, the American Petroleum Institute (API) said
on Tuesday, while gasoline inventories fell by 1.575 million barrels and distillates gained 2.029 million barrels.

Supplies at the storage hub of Cushing, Oklahoma, rose by 1.216 million barrels.

Crude oil inventories weree seen down by 1.8 million barrels, distillates down by 2.375 million barrels and gasoline stocks expected to show
a 1.025 million barrels decline.

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Market News
Thursday, 12th October 2017

Commodity Buzz
MCX Nickel under short covering; Support seen at 709.4
Technically Nickel market is under short covering as market has witnessed drop in open interest by 6.22% to settled at 16566 while prices
up 0.6 rupees.

Now MCX Nickel is getting support at 709.4 and below same could see a test of 699.9 levela and resistance is now likely to be seen at
724.1, a move above could see prices testing 729.3.

Nickel on MCX settled up 0.08% at 719 recovered from the day's low on short covering and settled higher after stagnating overnight,
buoyed by a steady dollar and a modest uplift in Chinese futures. Chinese nickel futures edged up, ignoring a steep drop in Shanghai steel
prices.

Nickel touched its highest level in more than two weeks, supported by a softer dollar and higher steel prices, while shrugging off weak data
from China. Benchmark nickel on the LME ended 4% higher at $11,015 per tonne, its highest level since Sept 21 and its biggest intraday
jump since Aug 16.

Aluminium market under long liquidation; Support seen at 139.4

Technically market is under long liquidation as market has witnessed drop in open interest by -15.84% to settle at 4050 while prices down
0.75 rupees.

Now MCX Aluminium is getting support at 139.4 and below same could see a test of 138.6 levels and resistance is now likely to be seen
at 140.9, a move above could see prices testing 141.6.

Aluminium on MCX settled down -0.53% at 140.3 on profit booking after prices supported on news of production output curtailed in the
coming weeks on environmental grounds.

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Analyst Speaks
Thursday, 12th October 2017

Gold MCX

Technically Gold market is under short covering as market has RESISTANCE 2 29871.67
witnessed drop in open interest by 5.71% to settled at 7547 while
prices up 186 rupees.
RESISTANCE 1 29789.33
Now MCX Gold is getting support at 29657.33 and below same could
see a test of 29607.67 levels and resistance is now likely to be seen at 29739.67
PIVOT
29789.33 a move above could see prices testing 29871.67.

SUPPORT 1 29657.33
BUY GOLD DEC AROUND 29750-29800
TG1: 29900 TG2: 30000 SL 29650 SUPPORT 2 29607.67

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Analyst Speaks
Thursday, 12th October 2017

CRUDE OIL MCX

Technically Crude Oil market is under short covering as market has RESISTANCE 2 3393.00
witnessed drop in open interest by 2.8% to settled at 9678 while
prices up 75 rupees.
RESISTANCE 1 3370.00
Now MCX Crude Oil is getting support at 3314.00 and below same could
see a test of 3281.00 level, And resistance is now likely to be seen at PIVOT 3337.00
3370.00, a move above could see prices testing 3393.00.

BUY CRUDE OIL OCT ABOVE 3350 SUPPORT 1 3314.00

TG1: 3380 TG2: 3420 SL 3330

SUPPORT 2 3281.00

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Todays Economic Events
Thursday, 12th October 2017

COUNTRY TIME EVENT ACTUAL FORECAST PREVIOUS

6:00pm PPI m/m 0.4% 0.2%

Unemployment Claims 251K 260K

Core PPI m/m 0.2% 0.1%

USD
8:00pm FOMC Member Brainard Speaks

FOMC Member Powell Speaks

Natural Gas Storage

8:30pm -1.9M -6.0M

Crude Oil Inventories

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Team :

Name Designation Email

Mr. Prateek Gupta (Technical Research Analyst-head) research@24cn.com

Mr. Lakhan Patidar (Sr. Derivative & Technical Analyst) research@24cn.com

Mr. Dharmendra Saloniya (Commodity Research Analyst) 24cn.calls@gmail.com

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Checked By :-

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