Intraday traders can sell MCX Gold October futures contract
on rise or sell at Rs. 33900 for TARGET price of Rs. 32900 and Rs. 32600 with a
STOPLOSS above Rs. 34350
Bullion: Gold futures rose to a three-and-a-half-month high
on Wednesday, as growing speculation the U.S. was moving closer to taking
military action against Syria’s government continued to boost safe-haven demand
for the precious metal.
Energy: Crude oil futures remained higher on Wednesday,
after the release of U.S. inventories data and as mounting speculation that the
U.S. and other Western nations will intervene in Syria continued to boost oil
prices.
Metals: Copper futures edged lower on Wednesday, as
escalating geopolitical tensions between the U.S. and Syria continued to weigh
on appetite for riskier assets. On the Comex division of the New York
Mercantile Exchange, copper futures for December delivery traded at USD3.326 a
pound during European morning trade, down 0.3%. The December contract settled
up 0.25% at USD3.335 a pound on Tuesday.
MCX Gold Oct futures contract trend is looking weak on
chart, day traders can sell on rise Major support is seen in range of 32450,
31900 and 31000. While important resistance is seen near 33900, 34350 and
34700.
Recommendation - Day traders can sell at 33900 TARGET 32900
& 32600 STOPLOSS above 34350
MCX Silver Sep. futures contract is looking weak on chart,
day traders can sell on rise Major support is seen in range of 54700 53700 and
52500. While important resistance is seen near 57700, 58700 and 60000
Recommendation - Day traders can sell at 57350 TARGET 54700
& 53700 STOPLOSS above 57950
