Angel Broking Pvt Ltd
Published on 19/01/2018 11:33:36 AM

Copper

Outlook

LME Copper prices are currently trading higher by 0.4 percent at $7100/t. Copper prices will trade higher as strong economic numbers from China will be supportive.

MCX Copper prices will likely trade higher today.

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Angel Broking Pvt Ltd
Published on 19/01/2018 11:33:17 AM

Base Metals

Base metals traded higher on Thursday as robust Chinese GDP numbers boosted an upside in the counter.

MCX base metals traded higher yesterday in line with international trends.

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Angel Broking Pvt Ltd
Published on 19/01/2018 11:32:57 AM

Crude Oil

Outlook

We expect oil prices to trade higher today as recovery in US oil output will exert pressure while drawdown US EIA crude oil inventories will be supportive. Also, healthy demand still supports oil markets and OPEC’s commitment for capping oil output is also creating a stir for oil markets.

On the MCX, oil prices are expected to trade sideways today, international markets are trading lower by 1.2% at $63.2 a barrel.

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Angel Broking Pvt Ltd
Published on 19/01/2018 11:32:33 AM

Gold, Silver

Outlook

We expect gold prices to trade sideways today, international markets are trading higher by 0.3% at $1331.3 per ounce. Profit booking after a recent rally and stronger dollar are possible factors exerting downside pressure on gold.

On the MCX, gold prices are expected to trade sideways today.

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Angel Broking Pvt Ltd
Published on 19/01/2018 11:31:25 AM

Spices (Jeera & Turmeric)

Outlook

We expect Jeera Mar futures may trade sideways to lower today of expectation of selling pressure. Moreover, encouraging sowing area in Gujarat has kept prices under pressure. The demand is also waning for crop due to higher prices.

Turmeric Apr futures expected to trade sideways due to steady physical demand and expectation of new season arrivals. However, expectation of improvement in up country demands for new season crop may support prices in coming weeks.

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Angel Broking Pvt Ltd
Published on 19/01/2018 11:31:01 AM

Cotton / Kapas

Outlook

Cotton futures are expected trade sideways on expectation of technical correction at higher levels. Moreover, bearish USDA will also pressurize prices in current week. However, lower than expected production in the country may keep prices supported at higher levels.

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Angel Broking Pvt Ltd
Published on 19/01/2018 11:30:36 AM

Chana

Outlook

Chana futures may trade sideways today on reports expectation of higher crop due to higher acreage may keep the prices under pressure. However, lower level buying may keep the prices supported.

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