Daily Market Reflection

8th December 2016

COMDEX

Market Outlook
Precious metals are flattish as the dollar steadied and US data
gave mixed readings. On MCX we expect gold and silver prices
to trade range bound for the day as we believe despite fed rate
hike. Base metals are mostly mixed on the LME with zinc and
lead extending gain by another 1.5%, Copper long position on
the LME have reached consecutive records since early
November. On the MCX, we expect base metals prices to trade
higher for the day. Oil prices were lower in early trade as API
reported a large build in Cushing Inventories. On intraday basis
we expect range bound trade in Crude oil.

Fundamental News
Gold prices firmed on Wednesday after falling for eight out of
the last 10 sessions, on perceptions that a recent surge in the
dollar, sharper risk appetite and expectations for a US interest
rate hike next week are already reflected in prices
West Texas Intermediate oil futures pared losses in North
American trade on Wednesday, after data showed that oil
supplies in the U.S. registered an inventory draw that was twice
as big as expected..
Important Data
Time

Currency

Event

Forecas
t

Previou
s

Tentative

CNY

Trade Balance

307B

325B

6:15pm

EUR

Minimum Bid Rate

0.00%

0.00%

7:00pm

CAD

Building Permits
m/m

7:00pm

CAD

7:00pm
9:00pm

NHPI m/m

-7.0%
0.2%

Market Updates
MCX
Date
6-12-16
GOLD
27820
SILVER
41007
COPPER
400.40
CRUDE
3463
ALUMINIUM
116.00
LEAD
159.35
NICKEL
785.10
ZINC
189.95
NATURALGAS 247.30
COMEX

Date
7-12-16
27900
41920
395.70
3407
116.00
155.65
769.30
184.40
248.60

+0.26%
+2.19%
-1.32%
+0.96%
0.00%
-2.05%
-2.12%
-2.97%
+0.36%

Date
7-12-16
1178.05
17.277
50.16
2.638
100.30

% Chg

GOLD
SILVER
CRUDE
COPPER
$ INDEX

Date
6-12-16
1170.10
16.810
50.93
2.680
100.51

USDINR

68.0325

67.7600

-0.40%

+0.68%
+2.81%
-1.53%
-1.60%
-0.21%

OUR PREVIOUS CALLS UPDATE

Intraday super star
Date Commodity
Entry
Exit
P/L
7/12

ALUMINIUM

Multibagger
Date Commodity Entry
Exit
7/12 ZINC
189
192
Trifid special
Date Commodity Entry
Exit
7/12 GOLD
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Unemployment
272K
268K
Claims
Natural Gas
-50B
USD
Storage | Email id: info@trifidresearch.com | Toll Free: 1800-270-1410
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USD

% Chg

P/L
3000
P/L
-

Gold and Silver

GOLD

PIVOT
S
MCX
COME

COMEX GOLD

S1

S2

R1

R2

27800
1160

27500
1150

28250
1180

28550
1190

SILVER

Gold showed sideways to bullish movement and found

the important resistance level of 28025. Now if it will
close above the important resistance level of 28100 then
28550 will act as next resistance level. On lower side
27800 will act as vital support level.
COMEX SILVER

PIVOTS

S1

S2

R1

R2

MCX
COMEX

41300
16.90

40800
16.60

41900
17.25

42500
17.50

Silver showed bullish movement and found the important

resistance level of 41935. Now if it will close above the
important resistance level of 42100 then 42900 will act
as next resistance level. On lower side 40800 will act as
vital support level.
.

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Crude and Copper

CRUDE

COMEX CRUDE

PIVOTS

S1

S2

R1

R2

MCX

3370

3300

3480

3550

COMEX

49.50

48.00

51.20

52.50

COPPER

Crude showed bearish movement and found the

important support level of 3370. Now if it will close
below the important support level of 3350 then 3300 will
act as next support level. On higher side 3480 will act
as vital resistance level.
COMEX COPPER

PIVOTS

S1

S2

R1

R2

MCX

390

385

405

411

COMEX

2.5800

2.5200

2.6860

2.7300

Copper showed bearish movement and found the

important support level of 393. Now if it will break the
resistance level of 400 then 410 will act as next
resistance level. On the other hand 390 will act as a
major support level.

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Other Commodities
PIVOT
COMMODITIE
S

S1

S2

R1

R2

VOLUME

OI

TREND

ALUMINIUM

114.60

113

117

119

6539

2954

Bearish

LEAD

153.50

150

158

161

15207

1762

Bearish

NICKEL

750

720

780

800

27515

8968

Bearish

ZINC

182

179

187

190

23359

6879

Bearish

NATURAL GAS

246

242

253

255

66255

5946

Bullish

LME INVENTORY
dasdasdinkjjlfcnl
Due to Summer
Bank Holiday NO2/12/2016
LME DATA TODAY
COMMODITIES
1/12/2016

5/12/2016

6/12/2016

ALUMINIUM

-4301

-5574

-10074

-10874

COPPER

+1848

-2650

-1001

-3526

LEAD

-101

-498

-49

+187

NICKEL

+175

-182

+1896

+502

ZINC

-402

-502

-124

-1574

7/12/2016

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Agri Commodity Updates

GUARSEED
Guarseed showed bearish movement today. Prices
closed around the important support of 3300. If
prices hold above 3350 level in next trading session
then this bullish momentum can take prices to 3400
level. If it breaks the support level of 3280 then 3230
will act as next support level.
PIVOTS

S1

S2

R1

R2

3280

3230

3350

3400

JEERA
Jeera showed bearish movement and breached the
important support level of 17300. Now on higher
side 17750 will act as important resistance level
above which it will pull towards the resistance level
of 18000. On lower side bearish movement can
drag it towards the support level of 17000.

PIVOTS

S1

S2

R1

R2

17250

17000

17500

17750

SOYABEAN
Soyabean showed sideways movement today.
Prices tried to drag down towards important support
level of 3080. Now if it will break the support level of
3075 then 3025 will act as next support level. On
the other hand 3130 will act as a major resistance
level.

PIVOTS

S1

S2

R1

R2

3075

3025

3120

3150

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Intraday Super Star

(Premium Section)

CALL: SELL SOYABEAN BELOW 3100 TARGET 3070/3040 SL 3155.

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Multibagger Call
(Premium Section)

CALL: BUY GOLD ABOVE 27940 TARGETS 28000/28060 SL 27840.

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Trifid Special
(Premium Section)

CALL: BUY SILVER ABOVE 42000 TARGETS 42400/42800 SL 41500.

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