BULLION

Gold demand in India this week was muted as a recent rally in domestic prices prompted buyers to postpone purchases despite the approaching festival and wedding season. Gold prices are up more than 6 percent after falling to $1,159.96 an ounce in mid August the lowest since January 2017. Holdings in the worlds largest gold-backed exchange traded fund SPDR Gold Trust saw outflows of about 4.5 million ounces between late April and early October. But holdings are now at their highest since the end of August at 24.1 million ounces.

ENERGY

Oil prices were stable on Monday supported by a bounce in Asian stocks but analysts said sentiment remained cautious after a plunge in financial markets last week triggered worries that global growth may be slowing. Despite the gains and calmer financial markets early on Monday sentiment among investors remained cautious after hefty losses last week.

The Energy Information Administration released its report on US natural gas storage showing a build of 58 billion cubic feet in the week ending October 19, adding to the 81 billion addition in the previous reading while analysts expected a 47 billion increase.

Base Metals

Copper prices were slightly down after falling 1 percent on Friday as global equities headed for their worst week in more than five years overshadowing a supply shortage of the metal building in the market. Available London Metal Exchange copper inventories fell to their lowest in nearly 13 years while cash copper traded at its highest premium to the three month future in nearly three years.
 
SPICES

Moderate weak trend persisted for Jeer as it failed to hold above the 20000 mark after the recent highs even as overall sentiments remains firm from falling stocks rising demand and expected fall in sowing from lower rains in Gujarat/Rajasthan. Possibilities of delayed sowing too could support prices in the medium term.

Turmeric failed to show strong movement with prices finding some support at these lower levels. But high stocks amidst lack of very strong demand kept pressurizing prices. Technically trend did not look very positive for now.













OILSEEDS

Mentha traded with slight firmness as expected rise in winter season demand continued supporting buying sentiments and it broke strong resistance levels indicating further upside in coming days. Adverse reports on the production front too shall continue supporting prices in coming weeks.

Weakness in the International markets weighed over edible oil market therefore Soya oil failed to recover for yet another session. Weakness in palm oil added to bearish tone. Ahead of Indian/US harvest season of the soy bean crop not much of upside is expected in edible oils especially soya oil.

GUAR COMPLEX

Bullish trend persisted for Guar on apprehensions of lower production from less rains received in Rajasthan. Reports of lower arrivals of the new crop amidst prospects of fall in sowing area in Rajasthan are likely to support prices in medium term. With low rains reported in West Rajasthan and excess rains reported in East Rajasthan this year market sources believe both these factors to be damaging for the crop.


OTHERS

Sentiments currently remain positive from news of China lifting ban on import of Indian Rapemeal. Normally his implies that crushing demand for Rapeseed shall increase therefore buying interest was impressive in the futures market.

Market participants were unaware of any fresh bearish report from spot mandis therefore soy bean futures at NCDEX ended the day on strong note. Slightly positive cues from the recently released USDA report again helped soy bean in recovering from lower levels.


Last week COCUDAKL started a week on positive not but found enough resistance near the level of 1900 and made bearish candlestick pattern on higher level. Last week COCUDAKL made a high of 1898 and closed at the level of 1872.50 with overall marginal gain of 4.20% on weekly basis. For this week if it is break the level of 1850 on lower side then it can test the level of 1722. One can make sell position in it with SL of 1906.

CHANA
From last couple of trading weeks Chana is trading with negative sentiment buy unable to break the level of 3900 and we seen that 3900 level reacted as a strong support zone in Chana. Last week Chana made a low of 3940 and closed at the level of 3952 with overall marginal gain of 3.56% on weekly basis. Technically Chana is trading above its support level of 3900 and we are expecting bounce back in it from lower level. For this week if it is break the level of 4000 on upper side then it can test the level of 4150. One can make buy position in it with SL of 3945.

ALUMINIUM
Last week Aluminium made a low of 145.50 and closed at the level of 147.05 with overall marginal loss of 3.13% on weekly basis. Aluminium continuously trading with downtrend channel and recently Aluminium broken its resistance trend line and sustaining near the level of 147. For this week if it is break the level of 147.70 on upper side then it can test the level of 152.70. One can make buy position in it with SL of 146.40.

GOLD
From last couple of trading weeks Gold is trading in range between the level of 32100-31800 and forming descending triangle formation on higher level. Last week Gold made a low of 31785 and closed at 31937 with overall marginal gain of 0.11% on weekly basis. On its daily chart Gold is forming lower highs formation indicating negative trend in it. For this week, if it breaks the level of 31780 on the lower side then it can test the level of 31352 during the week. One can make sell position in it by maintaining a SL at 31911

JPYINR

Last week JPYINR Oct Futures started the week on positive note and made a high of 66.0950 but till the end of the week, market closed below the level of 66.0000 and it closed at 65.8900 with the overall loss of 0.75 per cent on weekly basis. Technically it consolidating below the major psychological support level of 66.0000 with the negative RSI and for this week, we can expect further downside movement in it.
For this week, if it breaks the level of 65.6800 on the lower, then it can test the level of 65.2525 during the week. One can make sell position in it by maintaining a SL 66.0025

USDINR

Last week USDINR Oct Futures started the week on positive note and made a high of 74.1725 but till the end of the week, all of its earlier gains were erased and it closed at 73.6800 with the overall loss of 0.62 per cent on weekly basis. Technically it consolidating near to the trend line breakout with negative RSI and for this week, we can expect profit booking in it from the higher levels.
For this week, if it breaks the level of 73.4000 on the downside, then it can test the level of 73.9125 during the week. One can make sell position in it by maintaining a SL 73.8025

For Quick Trial – 08962000225
Or mail us here: [email protected] or visit http://www.ways2capital.com/free-trial.php
Contact 0731-6626191
Toll Free – 1800-3010-2007
Give a Missed Call for Free Trial - 09699997717
For Reports And Tracksheets - http://www.ways2capital.com/downloads.php