Trade House 426 Alok Nagar, Kanadia Main Road Near Bangali Square Indore-452001 (M.P.) India Mobile :+91-9039261444 E-mail: info@tradenivesh.in Telephone :+91-731-698.3000
Gold Weekly Wrap Up OPEN 29587 HIGH 29785 FUNDAMENTAL VIEW:- Gold off lows but remains under pressure :- Gold prices traded lower on Friday, despite a dip in the dollar, as investors expectations of a March interest rate hike soared. Top-tier U.S. economic data had little impact on the yellow-metal as investors focused on whether the Federal Reserve will increase interest rates at its next meeting on March 15. Gold is sensitive to moves in U.S. interest rates, which lift the opportunity cost of holding non-yielding assets such as bullion, while boosting the dollar in which it is priced. TECHNICAL VIEW:- MCX Gold late week was bounce back after testing the support level of 29075 and forming higher low pattern which indicates further bullish movement is coming week. It is taking resistance of 29750 which is near to its 50.00% retracement. If its price manages this resistance level then next resistance can be seen around 30000. On southern zone it has crucial support zone of 29075 if its breaches then its price may be drag down towards next support level of 28700. TRADING STRATEGY:- LOW 28952 CLOSE 29004 % -2.13% NET -634 OI 57329 % OI +46 VOLUM 57538 Positive GOLD(APR) STRATEGY LEVEL TGT-1 TGT-2 STOP LOSS BUY BUY ON DIPS 28300 28500 28700 28050 SELL SELL ON RISE 29200 29000 28800 29450 WEEKLY SUPPORT AND RESISTANCE :- SYMBOL R3 R2 R1 PV S1 S2 S3 GOLD BULLISH 30900 30080 29540 29250 28700 28400 27580
Silver Weekly Wrap Up OPEN 43343 HIGH 44151 LOW 42350 CLOSE 42524 % NET -1.18% -786 OI 73943 % OI +192 VOLUM 22086 Positive FUNDAMENTAL VIEW:- White metal loses shine on rate hike worries :-Silver futures were trading lower during afternoon trade in the domestic market last week as investors and speculators exited their positions in the precious metal on slide in safe-haven demand on rising expectations of a US rate hike as early as this month. The higher US interest rates would diminish the demand for non-interest bearing assets such as silver while a higher dollar makes the precious metal more expensive for buyers using other currencies. Meanwhile, more Fed policy-setters Chairwoman Janet Yellen and Vice Chairman Stanley Fischer, are both due to speak later in the day, likely to provide further clues on the Fed's policy path ahead of the March 14-15 meeting. TECHNICAL VIEW:-MCX Silver last week given good resistance trend line break out and manages its SILVER(MAY) STRATEGY LEVEL TGT-1 TGT-2 STOP LOSS BUY BUY ON DIPS 41200 41900 42700 40400 SELL SELL ON RISE 43000 42300 41600 44800 higher level. For upcoming week it may continue its uptrend. Now has important resistance level of 44000; SYMBOL R3 R2 R1 PV S1 S2 S3 SILVER POSITIVE 46600 44800 43650 43000 41850 41200 39400 if its price manages this resistance level then next resistance can be seen around 45000. On downward side
Crude oil Weekly Wrap Up OPEN 3620 HIGH 3652 LOW 3520 CLOSE 3557 % -1.63% NET -59 OI 8745 % OI -0.57 VOLUM 665301 Negative FUNDAMENTAL VIEW:- Crude bounces off 3-week lows but gains seen limited - U.S. oil prices bounced off three-week lows on Friday, but gains were expected to remain limited as concerns over U.S. stockpile levels and production continued to weigh. The build-up in U.S. crude oil inventories to record high levels, overshadowed a Reuters survey on Tuesday that found OPEC cut its oil output for a second month in February, following a record high compliance level by OPEC members in January. TECHNICAL VIEW:-MCX crude oil is not able to break its importance resistance level of 3700 and come down. It may continue its weak trend in coming treading sessions. It has important support level of 3550; if its price breaks it then next level can be seen around 3480. It has important resistance level of 3700 if its price sustain above this level then next resistance can be seen around 3800. CRUDE OIL(FEB) STRATEGY LEVEL TGT-1 TGT-2 STOP LOSS BUY BUY ON DIPS 3490 3590 3690 3340 SELL SELL ON RISE 3690 3590 3490 3810 TRADING STRATEGY:- SYMBOL R3 R2 R1 PV S1 S2 S3 CRUDE OIL BULLISH 3800 3700 3630 3575 3500 3440 3310
N.gas Weekly Wrap Up OPEN 182.50 HIGH 189.90 LOW 177.70 CLOSE 187 % +1.40% NET +2.60 OI 244974 % OI +19 VOLUM 369768 Positive FUNDAMENTAL VIEW:- Natural gas futures drop after first inventory build of season :-U.S. natural gas futures were lower last week, adding to losses after data showed that natural gas supplies rose for the first time since last March, cutting the withdrawal season short. TECHNICAL VIEW:- Natural gas showed bearish movement last week except last trading session which drags down towards 197. If the prices sustain above its support level of 168 then the positive momentum will take prices up to 195 level. On other hand if the prices maintain below 268 then the prices can come back down to 150 level. TRADING STRATEGY:- WEEKLY SUPPORT AND RESISTANCE:- N.GAS(JAN) STRATEGY LEVEL TGT-1 TGT-2 STOP LOSS BUY BUY ON DIPS 175 185 195 160 SELL SELL ON RISE 195 185 175 210 SYMBOL R3 R2 R1 PV S1 S2 S3 NATURAL BEARISH 209 197 192 185 180 172.50 160.50
Copper Weekly Wrap Up OPEN 393.65 HIGH 409.25 LOW 390.50 CLOSE 398.60 % +1.16% NET +4.60 OI 254223 % OI +8.87 VOLUM 153363 Positive FUNDAMENTAL VIEW:- Copper futures little changed on global cues :- Copper futures little changed during evening trade in the domestic market on Friday as investors and speculators remained on the sidelines in the industrial metal on firm US dollar on rising expectations of a US rate hike as early as this month. TECHNICAL VIEW:- MCX copper showed breakout of trend line and closed below it. In upcoming trading sessions it may continue its bearish trend. It has crucial support of 387; if it gives break out below this level then next level can be seen around 380. On upward side it has major resistance 395; if its price breaks this level then resistance next level can be seen around 405. TRADING STRATEGY:- COPPER(FEB) STRATEGY LEVEL TGT-1 TGT-2 STOP LOSS BUY BUY ON DIPS 389 399 409 375 SELL SELL ON RISE 409 399 389 414 WEEKLY SUPPORT AND RESISTANCE:- SYMBOL R3 R2 R1 PV S1 S2 S3 COPPER BULLISH 437 418 408.50 399.50 389.50 380.50 362
PRODUCT RECOMMENDATIONS P&L STATUS BUY GOLD ABOVE 29660 TGT 29860,30060 SL BELOW 29450 20,000 1st TGT Achieved GOLD SELL GOLD BELOW 29550 TGT 29350,29150 SL ABOVE 29750 40,000 Both TGT Achieved SILVER BUY SILVER ABOVE 43600 TGT 44300-45000 SL BELOW 42500 16500 1st TGT Almost Achieved, High: 44151 SELL SILVER BELOW 43200 TGT 42500-41700 SL ABOVE 44100 21,000 1st TGT Achieved CRUDE OIL BUY CRUDEOIL ABOVE 3650 TGT 3750,3850 SL BELOW 3430 9,400 Closing price @3556 SELL CRUDEOIL 3820-3850 TGT 3730,3630 SL ABOVE 3960 0.00 Not Executed NATURAL GAS BUY NATURALGAS ABOVE 175 TGT 185-198 SL BELOW 160 12,500 1st TGT Achieved SELL NATURALGAS BELOW 195 TGT 185-175 SL ABOVE 210 12,500 Not Executed BUY COPPER ABOVE 389 TGT 399-409 SL BELOW 375 10,000 1st TGT Achieved COPPER SELL COPPER BELOW 409 TGT 399-389 SL ABOVE 414 10,000 1st TGT Achieved P&L +133,100 MCX 24-02-2017 CLOSING PRICE 03-03-2017 CLOSING PRICE % D VALUE D GOLD(05 APR) BULLISH 29640 29004-2.13% -634 SILVER(03 March) BULLISH 43310 42524-1.18% -786 CRUDE OIL(20 March) BULLISH 3616 3557-1.63% -59 NATURAL GAS(20 March) BULLISH 184.40 187 +1.40% +2.60 COPPER(28 Feb) BULLISH 394 398.60 +1.16% +4.60 NICKEL(28 Feb) BULLISH 722.80 735.40 +1.74% +12.60 LEAD(28 Feb) BEARISH 150.40 150.55 +0.09% +0.15 ZINC(28 Feb) BULLISH 188.95 185.70-1.72% -3.25 ALUMINIUM(28 Feb) BULLISH 126.05 126.15 +0.079% +.0.10
TIME CURR. EVENT ACTUAL FORECAST PREVIOUS Monday, February 27, 2017 Time Cur. Event Actual Forecast Previous Monday, March 6, 2017 19:00 USD Trade Balance (Jan) -48.00B -44.30B Wednesday, March 8, 2017 18:45 USD ADP Nonfarm Employment Change (Feb) 190K 246K 19:00 USD Nonfarm Productivity (QoQ) (Q4) 1.50% 1.30% 19:00 USD Unit Labor Costs (QoQ) (Q4) 1.60% 1.70% 21:00 USD Crude Oil Inventories 1.501M 21:00 USD Gasoline Production 0.027M 21:00 USD Heating Oil Stockpiles 0.185M 21:00 USD Gasoline Inventories -0.546M 21:00 USD Cushing Crude Oil Inventories 0.495M Thursday, March 9, 2017 19:00 USD Export Price Index (MoM) (Feb) 0.20% 0.10% 19:00 USD Import Price Index (MoM) (Feb) 0.10% 0.40% 19:00 USD Initial Jobless Claims 223K 21:00 USD Natural Gas Storage 7B Friday, March 10, 2017 19:00 USD Nonfarm Payrolls (Feb) 190K 227K 19:00 USD Participation Rate (Feb) 62.90% 19:00 USD Private Nonfarm Payrolls (Feb) 195K 237K 19:00 USD Unemployment Rate (Feb) 4.70% 4.80% 20:15 USD Services PMI (Feb) 53.9 53.9 20:30 USD ISM Non-Manufacturing PMI (Feb) 56.5 56.5 20:45 USD FOMC Member Lacker Speaks 22:45 USD FOMC Member Powell Speaks 23:30 USD U.S. Baker Hughes Oil Rig Count 602 23:30 USD Fed Chair Yellen Speaks 23:30 USD FOMC Member Stanley Fischer Speaks
This document is solely for the personal information 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 financial advice. Each recipient of this document should make such investigations as they deem necessary to arrive at an independent evaluation of an investment in the securities of the companies referred to in this document including the merits and risks involved, and should consult their own advisors to determine the merits and risks of such an investment. Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions and trading volume. The information in this document has been printed on the basis of publicly available information, 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