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NCDEX Market Calls and News 18th Dec 2017

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Guarseed showed bearish movement and found the important support level of 3850. If prices sustain below 3800 level in next trading session then this momentum can take prices to 3750 level. If it breaks the resistance level of 3900 then 3940 will act as next resistance level.

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Jeera showed sideways movement today and found the support level of 21300. If prices maintain above 21300 levels in next trading session then this momentum can take prices to 21000 levels. If it breaks the support level of 21800 then 22100 will act as next support level.

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Soyabean showed bearish movement and found the important support level of 3000. If prices sustain below 3000 level in next trading session then this bearish momentum can take prices to 2950 level. If it breaks the resistance level of 3060 then 3100 will act as next resistance level.

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MCX Market Calls and News 18th Dec 2017

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Market Outlook

Gold prices were hovering near one-week highs on Friday, as fresh concerns over U.S. tax reform plans weighed on the dollar and as markets were still digesting the Federal Reserve’s latest policy statement. Oil prices were mixed on Friday, lingering below two-year highs as the continuing outage of a North Sea pipeline gave support, while climbing U.S. output and weak gasoline demand kept a lid on gains. Copper came under pressure on Friday from profit-taking ahead of the holiday period, but expectations of strong demand in top consumer China after data showed firm industrial activity lent support to prices.

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Fundamental News

Gold prices were on track to snap a three-week losing streak after rising sharply following the Federal Reserve interest rate decision to raise rates, and maintain its outlook for additional monetary policy tightening.

The state of Alaska will receive hundreds of millions of dollars in a settlement with oil companies over the value of North Slope crude oil shipped through the Trans-Alaska Pipeline (TAP), officials announced.

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Gold showed sideways to bearish movement and found the major support level of 28180. Now if price sustains on a lower level then it will test next support level of 28050. On another side, 28450 will be major resistance level.

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Silver showed sideways to bullish movement and found the major resistance level of 37420. Now if price sustains on a higher level then it will test next resistance level of 37750. On another side, 36880 will be major support level.

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Crude oil showed sideways to bearish movement and found the major support level of 3635. Now if price sustains on a lower level then it will test next support level of 3600. On another side, 3710 will be major resistance level.

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Copper showed sideways to bullish movement and found the major resistance level of 449. Now if price sustains on a higher level then it will test next resistance level of 457. On another side, 432 will be major support level.

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Equity Market News For Higher Returns 18 – Dec.

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Market Snippet
Benchmark indices traded higher as exit polls predict BJP’s win in Gujarat and Himachal State assembly election; the result is to be announced on Monday. Asian shares edged higher, on track for weekly gains, though sentiment was kept in check by Wall Street’s weakness on concerns about the progress of US tax reform. Nifty closed at 10359.50.Metal stocks were the major gainers of the day while PSU banks were the major losers.

Global Markets Update
Yamato Transport Co, Japan’s largest package delivery company, plans to open a new distribution facility with labor-saving technology near Tokyo early next year.
World shares fell and the dollar slipped against major and heavyweight emerging market currencies, as nagging uncertainty about a U.S. tax cuts package dovetailed with broad-based end-of-year caution.

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Today’s Agri Market Movement and NCDEX Tips

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Guarseed showed bearish movement and found the important support level of 3750. If prices sustain below 3800 level in next trading session then this momentum can take prices to 3750 level. If it breaks the resistance level of 3880 then 3940 will act as next resistance level.

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Jeera showed sideways movement today and found the resistance level of 22100. If prices maintain above 22100 levels in next trading session then this momentum can take prices to 22500 levels. If it breaks the support level of 21500 then 21300 will act as next support level.

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Soyabean showed bullish movement and found the important resistance level of 3165. If prices sustain below 3125 level in next trading session then this bearish momentum can take prices to 3075 level. If it breaks the resistance level of 3165 then 3200 will act as next resistance level.

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Today’s Gold Market Movement and MCX Tips

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Market Outlook

Gold prices were trading at five-month lows on Friday, as optimism over the U.S. tax reform overhaul continued to support demand for the greenback ahead of the highly-anticipated U.S. nonfarm payrolls report due later in the day. Oil prices were stable on Friday as the weight of a strengthening U.S. dollar was countered by China’s relentless thirst for crude and the OPEC-led supply cuts that have gradually tightened the market this year. Natural gas futures plunged on Thursday, falling to the lowest levels of the session after data showed a surprise buildup in U.S. supplies in storage last week. Natural gas futures have closely tracked weather forecasts in recent weeks, as traders try to gauge the impact of shifting outlooks on early-winter heating demand.

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Fundamental News

Gold prices continued to come under pressure, heading for a third-straight day of losses as tax reform optimism continued to support an uptick in the dollar, reducing investor demand for the precious metal.

Crude oil prices settled higher on Thursday as a threatened strike in Nigeria and growing Middle East political tensions stoked fears of supply disruptions, while ongoing OPEC-led output curbs supported sentiment.

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Gold showed sideways to bullish movement and found the major resistance level of 28700. Now if price sustains on a higher level then it will test next resistance level of 28820. On another side, 28450 will be the major support level.

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Silver showed sideways to bullish movement and found the major resistance level of 37350. Now if price sustains on a higher level then it will test next resistance level of 37630. On another side, 36780 will be a major support level.

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Crude oil showed sideways to bullish movement and found the major resistance level of 3730. Now if price sustains on a higher level then it will test next resistance level of 3765. On another side, 3640 will be a major support level.

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Copper showed sideways to bearish movement and found the major support level of 424. Now if price sustains on a lower level then it will test next support level of 419. On another side, 431 will be major resistance level.

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