MORNING BELL- PIVOT POINT FOR COMMODITY COUNTERS

GOLD OCT R2 29507 R1 29440 PIVOT 29385 S1 29338 S2 29285
SILVER DEC R2 39633 R1 39488 PIVOT 39328 S1 39188 S2 39028
CRUDE OIL OCT R2 3364 R1 3341 PIVOT 3320 S1 3297 S2 3272
NATURAL GAS OCT R2 195.8 R1 194 PIVOT 192.2 S1 190.4 S2 188.5
COPPER NOV R2 435.9 R1 432.5 PIVOT 429.2 S1 425.9 S2 422.6
NICKEL OCT R2 712.7 R1 704.2 PIVOT 697.2 S1 690.2 S2 683.3
ZINC OCT R2 217.95 R1 216.3 PIVOT 214.6 S1 212.7 S2 210.6
LEAD OCT R2 170.95 R1 169.5 PIVOT 168 S1 166.5 S2 164.9
ALUMINIUIM OCT R2 140.9 R1 139.8 PIVOT 138.9 S1 138 S2 136.9
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Lead Futures Up On Rising Demand

Lead futures were trading higher during the afternoon trade in the domestic market on Wednesday as participants created fresh positions, taking positive cues from spot market on pick-up in demand. Marketmen said building up of positions by traders backed by upsurge in demand from battery-makers at domestic spot market, supported the upside in lead prices at futures trade.
At the MCX, lead futures for October 2017 contract is trading at Rs 170.50 per kg, up by 0.21 per cent, after opening at Rs 170.15, against a previous close of Rs 170.15. It touched the intra-day high of Rs 171.10 (at 12:06 hours).
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Copper Futures Slide 0.28% On Weak Demand

Copper futures were trading lower in the domestic market on Wednesday as speculators cut down bets amid subdued demand at spot markets. Analysts said copper prices fell in line with a weak trend in industrial metals following sluggish demand from consuming industries at the domestic spot markets, but a firming trend overseas, restricted the losses.
At the MCX, copper futures for November 2017 contract was trading at Rs 428.70 per kg, down by 0.28 per cent, after opening at Rs 429.65, against a previous close of Rs 429.90. It touched the intra-day low of Rs 428.30 (at 12:55 hours).
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Nickel Futures Up On Pickup In Demand

Nickel futures were trading higher during the afternoon trade in the domestic market on Wednesday as participants widened their bets, driven by pick-up in demand in the spot market. Analysts attributed rise in nickel futures to building-up of positions by traders due to pick up in demand from alloy- makers in the spot market.
At the MCX, nickel futures for October 2017 contract is trading at Rs 703.70 per kg, up by 0.36 per cent, after opening at Rs 704.80, against a previous close of Rs 701.20. It touched the intra-day high of Rs 707.70(at 13:03 hours).
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Zinc Futures Dip On Easing Demand

Zinc futures were trading lower during the afternoon trade in the domestic market on Wednesday as speculators trimmed positions amid easing demand in the spot market. Analysts said offloading of positions by participants on the back of tepid demand in the spot markets, mainly led to decline in zinc prices at futures trade.
At the MCX, zinc futures for September 2017 contract was trading at Rs 215.05 per kg, down by 0.44 per cent, after opening at Rs 215.70, against a previous close of Rs 216. It touched the intra-day low of Rs 214.70 (at 14:17 hours).
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Copper Futures Dip Amid Muted Spot Demand

Copper futures were trading lower in the domestic market on Tuesday as speculators trimmed positions amid a weak trend at the spot markets on low demand. Analysts said a weakening trend at the domestic spot markets due to slackened demand from consuming industries and profit-booking at existing levels mainly kept pressure on copper futures.
At the MCX, copper futures for November 2017 contract was trading at Rs 427.20 per kg, down by 0.18 per cent, after opening at Rs 426.00, against a previous close of Rs 427.95. It touched the intra-day low of Rs 425.70 (at 11:45 hours).
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Lead Futures Rise On Increasing Demand

Lead futures were trading higher during the afternoon trade in the domestic market on Monday as participants created fresh positions, taking positive cues from spot market on pick-up in demand. Marketmen said building up of positions by traders backed by upsurge in demand from battery-makers at domestic spot market, supported the upside in lead prices at futures trade.
At the MCX, lead futures for October 2017 contract is trading at Rs 165.70 per kg, up by 1.44 per cent, after opening at Rs 164.30, against a previous close of Rs 163.35. It touched the intra-day high of Rs 166.05 (at 12:03 hours).
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Give a Missed Call for Free Trial – 09699997717