Indian Stock Market Updates - Commodity Tips

Equity benchmarks as well as broader markets maintained morning gains, driven by banking & financials, FMCG and pharma stocks after Q3 GDP data surprised street. Tata Motors fell over a percent ahead of February sales data due later today. Maruti Suzuki was up 0.2 percent after sales in the month gone by grew 11 percent while Eicher Motors fell 0.6 percent as Royal Enfield sales missed analysts' expectations, growing 19 percent year-on-year.

Commodity Market Tips

PRECIOUS METALS: Precious metal prices are expected to trade low after Trump reiterated on his plans to offer tax cuts to the middle class and a higher infrastructure and defense spending. 

ENERGY: Crude oil prices are down on yesterday as concerns about rising U.S. crude inventories ahead of data overshadowed OPEC production cuts.

BASE METALS: Base metals prices are trade range bound for today as demand worries from top consumer China along with rising odds of rate hike by US Fed.

Commodity Tips By Experts

Indian Stock Market is currently on a flat note now. Sensex is 3 points up at 28896 while Nifty is 17 points down at 8921. Some sectors like Smallcap and Midcap are in the positive zone.

PRECIOUS METALS: Precious metal prices are expected to trade high for the day as hopes for rapid tax reforms under the Trump administration faded, bolstering demand for the precious metal.

ENERGY: Crude oil prices are expected to trade high for the day, after data released by an industry group showed a surprise decline in U.S. crude stocks as imports fell, lending support to the view that a global glut is ending.

BASE METALS: Base metals prices are trade lower today as recent steps by China to raise its property tax will hurt demand. Also, uncertainty due to upcoming European elections will hurt risk appetite.

 
CALL BUY: GOLD APR ABOVE 29650 TARGETS 29800/30000 STOP LOSS 29470

Commodity Market Tips Today By Expert

Stock Market opened with the negative breadth today. Sensex has dropped down 109 points at 27739 and Nifty has lost 42 points at 8590. Shares of Oil and Natural Gas Corp rise as much as 4.93 pct to highest since June 2015. Global stocks posted their biggest loss in six weeks after Trump signed an executive order on Friday to bar Syrian refugees indefinitely and suspend travel to the United States from seven Muslim-majority countries, sparking widespread protests.

Gainers: Idea Cellular, Tata Power, Bharti Airtel, ONGC, Power Grid Corp

Losers: Bharti Infratel, Grasim, GAIL, Coal India, TCS

Commodity Update and Tips

Precious Metals: Precious metals prices to trade sideways as uncertainty regarding policies of the US government and subdued activity in China on account of Lunar new year holidays.

Energy: Crude Oil prices to trade sideways to lower on account of profit booking , besides, increase in drilling activity in the US are push factors for oil prices to head lower in the near term.

Base Metals: Base metals prices to trade range bound for the day as the dollar weakened, with trading light due to the Lunar New Year break in top metals consumer China.

Gold: RESISTANCE2: 29000 RESISTANCE1:28850 SUPPORT1:28350 SUPPORT2:28150
Silver (MARCH): RESISTANCE2:42300 RESISTANCE1:41900 SUPPORT1:41100 SUPPORT2:40650

Commodity Tips For Today 18th January 2017

PRECIOUS METALS: Precious metals prices higher more than 1 percent to an eight-week high on yesterday as stocks and the US dollar fell after U.S. President-elect Donald Trump said the greenback was "too strong" and British Prime Minister Theresa May promised a parliamentary vote on Brexit.

ENERGY: Crude Oil prices are higher on Wednesday with a weaker dollar underpinning the market, although gains were limited by expectations that U.S. producers would boost output. Oil has drawn support from top crude exporter Saudi Arabia, which said it would adhere strictly to its commitment to cut output under the agreement between the Organization of the Petroleum Exporting Countries (OPEC) and other producers.

Crude Oil 
RESISTANCE2:3700 RESISTANCE1:3640
SUPPORT1:3530 SUPPORT2:3480

Copper (FEB) 
RESISTANCE2:402 RESISTANCE1:397
SUPPORT1:390 SUPPORT2:386