Intraday Cash Buy

Dear Team,



Please find below Evening Commodity Levels



Evening Commodity Levels



MCX Gold Oct Trend Down Support S1 26480 S2 26370 Resistance R1 26720 R2 26850

Spot Gold Trend Down Support S1 1127 S2 1121 Resistance R1 1139 R2 1145

NCDEX GoldHedge Sept Trend Down Support S1 24050 S2 23960 Resistance R1 24230 R2 24330

MCX Silver Sept Trend Down Support S1 33800 S2 33500 Resistance R1 34400 R2 34750

Spot Silver Trend Down Support S1 13.96 S2 13.79 Resistance R1 14.62 R2 14.82

NCDEX SilverHedg Aug Trend Down Support S1 30600 S2 30400 Resistance R1 31100 R2 31300



LME Copper Trend Down Support S1 4895.00 S2 4850.00 Resistance R1 4975.00 R2 5015.00

MCX Copper Aug Trend Down Support S1 325.00 S2 323.00 Resistance R1 331.00 R2 334.00

MCX Zinc Aug Trend Down Support S1 110.70 S2 110.00 Resistance R1 112.20 R2 113.10

MCX Lead Aug Trend Down Support S1 107.40 S2 106.60 Resistance R1 109.00 R2 109.90

MCX Aluminium Aug Trend Down Support S1 99.70 S2 99.00 Resistance R1 102.10 R2 102.80

MCX Nickel Aug Trend Down Support S1 613.00 S2 605.00 Resistance R1 630.00 R2 638.00



MCX Crude Trend Down Support S1 2580 S2 2550 Resistance R1 2655 R2 2690

Nymex Crude Oct Trend Down Support S1 38.80 S2 38.30 Resistance R1 39.85 R2 40.45

MCX Natural Gas Aug Trend Sideways Support S1 175 S2 173 Resistance R1 181 R2 184



US Economic Data



Commodity Alert: Today's US Economic Data



6:00pm Core Durable Goods Orders m/m Forecast 0.3%, Previous 0.6%

6:00pm Durable Goods Orders m/m Forecast -0.4%, Previous 3.4%



Commodity Alert:  EIA Inventories Forecast Crude Oil +1.02 mbbl, Gasoline -1.31 mbbl, Distillate +0.96 mbbl Actual to release at 8.00 PM



Fundamental Outlook



Gold and silver prices are expected to trade lower today on profit booking at higher levels coupled with stability in Chinese markets.



Falling demand in Asia and slowdown in China is a drag to oil prices. Bearish sentiments cloud oil markets and hence we expect oil prices to trade lower



We expect LME Copper prices to trade lower as sharp volatility in the Shanghai markets increased uncertainties over the health of China’s economy. Also, expectations of weak Core Durable Goods Orders data will exert pressure. However, surprise rate cut by China along with expectations of deficit will be supportive.