Commodity News Update By Market Magnify

Copper has managed to corner some more gains in the trading session ending 29 May 2017. The prices have surpassed Rs 365 per kg even though the rally looks vulnerable and ended the day at Rs 368.25. It will be difficult for Copper to move past Rs 375 per kg in the coming days looking at the daily charts. On the lower side possibility of testing Rs 360 per kg is high. The prices tested a high of Rs 370.8 per kg and a low of Rs 365 per kg.

Gold prices upticked by a small margin on 29 May 2017. The prices tested a high of Rs 28919 per 10 grams, gaining 0.11%. The metal tested a high of Rs 28941 per 10 grams and a low of Rs 28832 per 10 grams. Further extension of gains can take yellow metal towards Rs 29000 per 10 grams. On the lower side Rs 28700 per 10 grams are noted supports.

Crude Oil gained by another 1.53% on Monday thanks to renewed buying interest and gains in open positions. The benchmark Crude Oil expiry contract was at Rs 3262 per barrel at the time of closing. The contract tested a high of Rs 3270 per barrel and a low of Rs 3198 per barrel. Supports for Crude Oil are at Rs 3180 and 3160 per barrel while resistance is at Rs 3320 per barrel.

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Gold firm near one-month highs as geopolitical concerns support

commoGold held steady early on Tuesday as easing Asian stock markets and geopolitical concerns helped the yellow metal hover close to one-month peaks.

                                  FUNDAMENTALS

* Spot gold rose 0.1 percent to $1,268.36 per ounce at 0105 GMT.

* U.S. gold futures were flat at $1,267.80 an ounce

                                Trading Ideas 

  1. Gold trading range for the day is 28782-29000.
  2. Gold traded in range in thin holiday trade, with a softer dollar and a retreat in stock markets helping the metal cling on to the previous session’s gains.
  3. Global gold demand declined by 18pc during the first quarter of 2017 to 1,034 tons, mainly due to less inflows into ETFs and slower central bank demand.
  4. The gold demand in India will remain in the range of 650-750 tonnes in 2017 even if the GST rates are fixed at a lower rate, according to WGC

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सोने की चमक बढ़ी, कच्चे तेल पर दबाव

mmgoldअंतर्राष्ट्रीय बाजार में कमजोर डॉलर से सोना 1 महीने के ऊंचाई के करीब नजर आ रहा है लेकिन कच्चे तेल पर दबाव दिख रहा है।

 

सोना एमसीएक्स: खरीदें – 28880, स्टॉपलॉस – 28830, लक्ष्य – 29000.

 

कच्चा तेल एमसीएक्स (जून वायदा): बेचें – 3285, स्टॉपलॉस – 3330, लक्ष्य – 3200.

 

Nifty likely to find support at 9570; 5 stocks which can give up to 5% this week

formmmissedcall

The immediate support zone for the coming session is placed at 9,565-9,570 and if the index sustains below these level for long would activate bears in the market.

Top five stocks which can give up to 5 percent return in this week:

UPL: BUY| Target Rs875| Stop Loss Rs815| Return 3.5%

The stock rose for the third consecutive session on Monday and witnessed a very strong closing above its immediate resistance above Rs842.

HDFC: BUY| Target Rs1,655| Stop Loss Rs1,560| Return 3%

The stock has attracted buying momentum during Monday’s session and closed at Rs1,598 with high volumes which is above its immediate resistance of Rs1,592.

BPCL: BUY| Target Rs788| Stop Loss Rs741| Return 4%

The stock is headed northwards for the fifth consecutive session where buying was very well supported by rising volumes along with 20-DMA and fresh MACD crossover.

Tata Communications: BUY| Target Rs 740| Stop Loss Rs688| Return 4.9%

The counter witnessed heavy buying volumes in Monday’s session as it crossed above its 20- DMA during the intraday trades and touched 50-DMA during the same session.

Power Grid: BUY| Target Rs 221| Stop Loss Rs203| Return 5.7%

The stock has now started moving on the higher side since the last two sessions, suggesting some more positive momentum to come in the next session as the counter has crossed above 20 DMA during intraday and even marked its closing above those levels.