Page 6 - Commodity Derivatives
MCX Gold futures trade near 200-DMA; Silver likely to test 200-WMA
The MCX Gold futures may test its support at the 200-DMA placed at Rs 49,750, while Silver futures may dip towards the 200-WMA placed at Rs 53,900-odd level.
 "MCX Gold futures trade near 200-DMA; Silver likely to test 200-WMA")
Key support for MCX Crude Oil at Rs 7,550; Natural Gas may be range-bound
The MCX Crude Oil futures has near support at Rs 7,550, below which it can slide towards the 200-DMA. Natural Gas need to sustain above the 20-DMA to maintain its positive bias.
 "Key support for MCX Crude Oil at Rs 7,550; Natural Gas may be range-bound")
Broader outlook for Gold remains bullish; Silver can pull-back to Rs 59,250
The MCX Gold futures need to cross and sustain above Rs 51,350 to regain upward momentum; Silver futures has near support at Rs 56,100.
 "Broader outlook for Gold remains bullish; Silver can pull-back to Rs 59,250")
MCX Crude Oil futures may drop to Rs 7,100; Natural Gas in oversold zone
The MCX Crude Oil has near support at Rs 7,740, below which it can slide towards the 200-DMA at Rs 7,100. Natural Gas may test Rs 410-odd level, while a bounce to Rs 500-odd level cannot be ruled out.
 "MCX Crude Oil futures may drop to Rs 7,100; Natural Gas in oversold zone")
MCX Gold futures can rally to Rs 53,150; Silver likely to decline further
Gold futures are likely to trade with a bullish bias as long as they hold above Rs 51,535 in the entire month of July; Silver futures could decline towards Rs 53,850.
 "MCX Gold futures can rally to Rs 53,150; Silver likely to decline further")
Sebi permits FPIs to deal in exchange-traded commodity derivatives
The regulator has also prescribed a working group to examine whether measures towards any additional risk management are required to be prescribed for FPIs
 "Sebi permits FPIs to deal in exchange-traded commodity derivatives")
Sebi lets FPIs to participate in exchange-traded commodity derivatives mkt
At its board meeting, the watchdog also cleared amendments to regulations governing mutual funds and portfolio managers.
 "Sebi lets FPIs to participate in exchange-traded commodity derivatives mkt")
Bias for MCX Crude Oil seems positive, Natural Gas may remain volatile
The key support levels for the MCX Crude Oil and Natural Gas futures for the remainder of the week are Rs 8,545 and Rs 502.30, respectively.
 "Bias for MCX Crude Oil seems positive, Natural Gas may remain volatile")
Sebi board may clear decks for FPI entry into commodity derivatives segment
The long-awaited move is aimed at boosting liquidity and efficiency at domestic commodity bourses, even as concerns remain if this would make markets more volatile
 "Sebi board may clear decks for FPI entry into commodity derivatives segment")
Major hurdle for Gold seen at Rs 51,300; Silver awaits decisive move
Gold futures need to break above Rs 51,300 for fresh gains to emerge, on the downside break of Rs 50,300 can trigger a slide to Rs 49,400-odd level.
 "Major hurdle for Gold seen at Rs 51,300; Silver awaits decisive move")
MCX Crude Oil may drop to Rs 8,050; Natural Gas likely to bounce back
The MCX Crude Oil futures seem on course to test the 100-DMA around Rs 8,050-level; Select momentum oscillators on Natural Gas have hit oversold territory, thus a pull-back rally can be expected.
MCX Gold, Silver futures seem range-bound; Key levels to watch out
The bias for MCX Gold August futures is likely to remain bullish as long as the commodity sustains above Rs 51,600, below which prices can dip to Rs 51,300 to Rs 51,200.
 "MCX Gold, Silver futures seem range-bound; Key levels to watch out")
MCX Crude Oil may test Rs 9,000-mark; Key hurdle for Natural Gas at Rs 590
The MCX Natural Gas futures can slide all the way towards its 100-DMA placed at Rs 485-level; Crude Oil prices may see share reaction on breakout of the Rs 9,000-9,700 expected trading band.
 "MCX Crude Oil may test Rs 9,000-mark; Key hurdle for Natural Gas at Rs 590")
Gold to remain bullish above Rs 51,600-level; Silver futures await breakout
The bias for MCX Gold August futures is likely to remain bullish as long as the commodity sustains above Rs 51,600, below which prices can dip to Rs 51,300 to Rs 51,200.
Key trading levels to watch out on MCX Crude Oil, Natural Gas futures
The MCX Natural Gas futures are likely to trade with a bullish bias for the remainder of the week as long as prices sustain above Rs 709.50.
 "Key trading levels to watch out on MCX Crude Oil, Natural Gas futures")
Upside for MCX Crude Oil may be capped at Rs 9,200 for now
On the downside, the MCX Crude Oil futures may test support near Rs 8,600-level; Natural Gas futures are likely to consolidate with support seen at Rs 600-mark.
 "Upside for MCX Crude Oil may be capped at Rs 9,200 for now")
MCX Crude Oil futures seem range-bound; Bias positive for Natural Gas
The MCX Natural Gas May futures are likely to trade with a bullish bias in May as long as the commodity holds above Rs 576-level.
Can MCX Gold futures drop below Rs 50,000 in May? Key levels to watch out
The MCX Gold futures seem to be facing considerable resistance around Rs 52,250 as per the monthly charts. Similarly, the upside for Silver seems likely to be capped around Rs 64,200-64,750 odd levels
 "Can MCX Gold futures drop below Rs 50,000 in May? Key levels to watch out")
Upside seems limited for MCX Gold; Silver may rally past Rs 71,000-level
The MCX Gold futures are likely to face considerable resistance around Rs 53,500-odd levels; MCX Silver futures can test Rs 71,300 on the upside.
Sebi eases algorithmic trading rules for commodity derivatives segment
The new limit will be effective from April 1, the Securities and Exchange Board of India (Sebi) said in a circular
