Evening market update

Dear Team,



Please find below Evening Commodity Levels



Evening Commodity Levels



MCX Gold Oct Trend Sideways Support S1 26280 S2 26230 Resistance R1 26480 R2 26570

Spot Gold Trend Sideways Support S1 1118 S2 1116 Resistance R1 1123 R2 1125

NCDEX GoldHedge Sept Trend Sideways Support S1 23720 S2 23630 Resistance R1 23950 R2 24160

MCX Silver Dec Trend Sideways Support S1 34750 S2 34550 Resistance R1 35740 R2 35890

Spot Silver Trend Sideways Support S1 14.71 S2 14.69 Resistance R1 14.76 R2 14.79

NCDEX SilverHedg Nov Trend Sideways Support S1 31750 S2 31550 Resistance R1 32240 R2 32450



LME Copper Trend Up Support S1 5325.00 S2 5305.00 Resistance R1 5392.00 R2 5420.00

MCX Copper Nov Trend Up Support S1 360.00 S2 357.50 Resistance R1 366.00 R2 368.00

MCX Zinc Sept Trend Up Support S1 121.40 S2 120.80 Resistance R1 122.70 R2 123.50

MCX Lead Sept Trend Up Support S1 114.10 S2 113.70 Resistance R1 115.40 R2 116.00

MCX Aluminium Sept Trend Up Support S1 108.70 S2 108.00 Resistance R1 110.30 R2 111.00

MCX Nickel Sept Trend Up Support S1 672.00 S2 668.00 Resistance R1 679.00 R2 684.00



MCX Crude Trend Down Support S1 3010 S2 2965 Resistance R1 3095 R2 3130

Nymex Crude Oct Trend Down Support S1 45.66 S2 45.54 Resistance R1 46.05 R2 46.14

MCX Natural Gas Sept Trend Up Support S1 176 S2 175 Resistance R1 183 R2 186



US Economic Data



Commodity Alert: Today's US Economic Data



7:30pm JOLTS Job Openings Forecast 5.30M Previous 5.25M



Fundamental Outlook



Gold prices will be a function of interest rates decision by the US Federal Reserve; hence the meeting on 17th of this month will be a close watch by the investors across the globe. Prices will trade sideways to positive today



The fundamentals of supply and demand remain bearish for the commodity as slowing Chinese economy and rising crude oil inventories in the US does not bode well for oil prices. However, prices will trade positive on account of bargain hunting at lower levels.



We expect Copper prices to trade higher today as Glencore’s supply cut is likely to substantially reduce the 545,000-metric-ton surplus, thereby buoying gains in the red metal. Also, recovery in the market sentiments will be supportive. However, investors will be cautious ahead of Chinese inflation data due tomorrow.

Comments

Post a Comment

Hi Friends,

if you have any queries, please call, WhatsApp, telegram to me at +91-7247888921. Thank you

Popular posts from this blog

CRUDEOIL TRADING VIEW 7 AUG 2023

Image
  CRUDE OIL IS IN A BULLISH TREND AND  WILL BE UPSIDE FROM HERE 6810-6800 TO 7000-7100 IN A SHORT TIME PERIOD YOU CAN MAKE BUY POSITION  BUY ABOVE 6650, TARGET 6900-7000-7100-7200   FOR MORE DETAILS PLEASE JOIN OUR TELEGRAM CHANNEL & SUBSCRIBE OUR YOUTUBE CHANNEL. TELEGRAM:-   https://t.me/call4earning   YOUTUBE:- https://www.youtube.com/channel/UCzm5tw4EAy7DLrBnU0_-mhg
Read more

NIFTY AND BANK NIFTY ANALYSIS FOR TODAY - 21-OCT-22

Image
 Hi Good Morning Friends,  As I mentioned in my previous blog Nifty & Bank Nifty will remain positive considering buying  due to our festival and buying indication from global markets. Nifty and Banknifty hits higher high and making every traders happy in this time. Nifty Daily chat clear indicating Nifty will remain positive in next session also. Below 17300 Selling pressure will come in Nifty but above this levels we will make new high. Trading Tips:-  Nifty Buy above 17300, Target 17450-17600-17750 -17830-17945-18050 Nifty Sell Below 17300, Target 17200 -17100-17000 Bank Nifty:-  Bank Nifty will remain positive similar to nifty.  here also we are seeing very strong momentum, which is helping the bank nifty index to more strength, HDFC BANK, KOTEK BANK, INDUSIND BANK, and SBI BANK all are positive and giving support to the bank nifty for more upside moves. Trading Tips:-  Bank Nifty Buy above 39700, Target 39900-40100-40300-40600 Bank Nifty Sell ...
Read more

Banknifty - Complete information

 The Bank Nifty serves as a barometer, capturing the vitality of the banking industry within the realm of the National Stock Exchange of India (NSE). It is a subset of the broader Nifty index and consists of the most liquid and large banking stocks listed on the NSE. The index reflects the overall health and performance of the banking industry in India. The Bank Nifty has a history that dates back to its inception on June 15, 2000. The index was introduced by the NSE to provide market participants with a benchmark to track the performance of the banking sector specifically. The index is calculated using the free-float market capitalization methodology, which takes into account only the freely available shares in the market for the calculation of index value. The Bank Nifty is composed of a basket of banking stocks that represent different segments of the banking industry, including public sector banks, private sector banks, and foreign banks operating in India. The index is calcula...
Read more