A Sharekhan commodity research newsletter October 27, 2014 4:30 pm IST Punter’s Call Gold has breached the key trendline As one can see from the adjacent chart, MCX gold has violated the key trendline on the one-hour chart. The negative cross down on the key moving averages (20-40) and Parabolic Stop and Reverse (PSAR) valued Rs24,500 is above the current market price both suggests bearishness on the yellow metal. The other technical observations are relative strength index valued 40 and moving average convergence divergence valued -72 indicate bearishness. On any rise till Rs27,240-Rs27,350, one can sell for a downside price target of Rs27,00026,850. The trade above Rs27,550 will negate a bearish view. Gold Momentum Swing Date Recommendation 27-Oct-14 Buy EURINR ( Spot ) Stop loss/ Reversal (on closing basis) (Rs) Price (Rs) LTP (Rs) Potential P/L at CMP (%) Targets (Rs) 77.28 77.78 77.8 0.03 78.30-78.85 HCL: Hourly closing basis / DCL: Daily closing basis / FMCL: Fifteen minute closing basis / TPB: trailing profit booked Note: calls are indicative and for record and have been initiated intra-day in the last 24 hours. For Private Circulation only Regd Add: Sharekhan Limited, 10th Floor, Beta Building, Lodha iThink Techno Campus, Off. JVLR, Opp. Kanjurmarg Railway Station, Kanjurmarg (East), Mumbai – 400042, Maharashtra. Tel: 022 - 61150000. Fax: 67481899; E-mail: [email protected]; Website: www.sharekhan.com; CIN: U99999MH1995PLC087498. Sharekhan Ltd.: SEBI Regn. Nos. 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Looking Trendy Short Term Trend Trend Reversal Support / Resistance Gold MCX 28000 26200 26200/28000 Silver MCX 37500 40900 37500/40900 Crude MCX 4900 5300 4900/5300 Copper MCX 400.00 424.00 400/424 Zinc MCX 132.00 145.00 132/145 Nickel MCX 875.00 1045.00 875/1045 Reversal Support / Resistance 1320.00 1180/1320 20.00 17.00/20.00 Target Medium Term Trend Target Gold Cash US $ 1180.00 Trend Silver Cash US $ 17.00 Crude US $ 78.00 95.00 78/95 Copper $ (comex) 2.750 3.500 2.75/3.5 148.00 130/148 1075 850/1075 130.00 Nickel MCX Up Icon guide Down 850 Zinc MCX Riveting Metals Sideways 22 October 27, 2014 Downswing matures Upswing matures Home Day Trader’s Hit List - Evening session For October 27, 2014 Instrument Gold Cash USD ($) Support Levels S2 S1 LTP (Rs) Resistance Levels R1 R2 Action 1220.0 1227.0 1230 1234.0 1240.0 Buy Above R1/Sell below S1 Gold MCX Dec 26875 27080 27177 27290 27395 Buy Above R1/Sell below S1 Silver Cash USD ($) 16.97 17.10 17.19 17.31 17.40 Buy Above R1/Sell below S1 Silver MCX Dec 37650 37915 38121 38300 38540 Buy Above R1/Sell below S1 Copper MCX Nov 408.00 411.00 414.2 416.3 419.50 Buy Above R1/Sell below S1 Zinc MCX Oct 135.55 136.75 137.65 138.50 139.30 Buy Above R1/Sell below S1 Nickel MCX Oct 882.00 899.00 905.0 917.0 928.0 Buy Above R1/Sell below S1 Aluminium MCX Oct 118.30 119.20 120.10 120.50 121.40 Buy Above R1/Sell below S1 Lead MCX Oct 119.85 120.65 121.75 122.10 123.25 Buy Above R1/Sell below S1 80.00 80.45 80.85 81.60 82.35 Buy Above R1/Sell below S1 5940.00 5975.00 4990 5030.0 5075.0 Buy Above R1/Sell below S1 215.20 220.40 223.1 225.7 228.0 Buy Above R1/Sell below S1 Crude Oil USD ($) Crude Oil MCX Oct Natural Gas MCX Oct For Private Circulation only Home Visit us at www.sharekhan.com "This document has been prepared by Sharekhan Commodities Pvt. Ltd. and is intended only for the person or entity to which it is addressed to and may contain confidential and/or privileged material and is not for any type of circulation. Any review, retransmission, or any other use is prohibited. Kindly note that this document does not constitute an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. If you have received this in error, please contact the sender and delete the material immediately from your computer/mailbox. The information contained herein is from sources believed reliable. We do not represent that it is accurate or complete and it should not be relied upon as such. We may from time to time have positions in, or options on, and buy and sell securities referred to herein. We may from time to time solicit from, or perform investment banking, or other services for, any company mentioned. Any comments or statements made herein do not necessarily reflect those of Sharekhan Commodities Pvt. Ltd." 3 October 27, 2014 Riveting Metals 2 Home