Daily Commodity Report                                                                                                    ...
Commodity News:Jeera exports to touch all-time highIndia continues to dominate the global jeera market in the absence of o...
DisclaimerThis document is not for public distribution and has been furnished to you solely for your information and must ...
Upcoming SlideShare
Loading in...5
×

Keynote commodity daily report for 220213

98

Published on

0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
98
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
1
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Keynote commodity daily report for 220213

  1. 1. Daily Commodity Report 22nd February 2013 21-Feb-13 Gold Silver Crude MCX GOLD (5 APRIL 13) – Expiry 05-Apr-13 05-Mar-13 19-Mar-13 Gold opened lower at 29551 and moved further lower to touch an intra-day low of 29263. However, it managed to move higher to Open 29,551 53,671 5,161 touch an intra-day high of 29779. It ended the day with moderate High 29,779 54,284 5,167 gains to close at 29742. Low 29,263 53,077 5,085 The RSI is still placed below its average, which would lead to selling pressure. However, the Stochastic has moved above its Close 29,742 54,112 5,102 average. Moreover, the Stochastic and RSI are still placed in the over sold zone. These positive conditions would lead to Prev. Close 29,579 53,720 5,164 intermediate bouts of short covering and buying support at lower % Change 0.55% 0.73% -1.20% levels. The –DI line and ADX line are placed above the +DI line and are also placed above the 35 level, indicating sellers have anSource – MCX upper hand. MCX Gold faces resistance at 30000, 30150, 30475, and 30916 while the support levels are placed at 29500, 29142 and Volume (In 000s) 28765. 21-Feb-13 20-Feb-13 % Chg. MCX SILVER (5 MARCH 13) – Silver opened lower at 53671 and moved further lower to touch an Gold (gms) 60,256.0 51,699.0 16.55% intra-day low of 53077. However, it managed to move higher to Silver (kgs) 3,236.4 3,468.4 -6.69% touch an intra-day high of 54284. It ended the day with moderate gains to close at 54112. Crude (bbl) 27,263.3 28,157.4 -3.18% The RSI is still placed below its average, which would lead toSource – MCX selling pressure. However, the Stochastic has moved above its average. Moreover, the Stochastic and RSI are still placed in the Turnover (In Lacs) over sold zone. These positive conditions would lead to intermediate bouts of short covering and buying support at lower 21-Feb-13 20-Feb-13 % Chg. levels.. The –DI line and ADX line are placed above the +DI line and are also placed above the 3o level, but –DI line has come offGold 1,779,036.3 1,538,041.6 15.67% its recent highs, indicating sellers are covering their shorts regularly. MCX Silver faces resistance at 55952, 56372, 56613,Silver 1,738,420.4 1,881,444.0 -7.60% 57049, 59483 and 61484 while the supports are placed at 53621, 52622 and 51660 levels.Crude 1,397,380.5 1,471,685.1 -5.05% MCX CRUDE (19 MARCH 13) –Source – MCX Crude opened lower at 5161 but moved higher to touch an intra- Global Market (Nymex - $) day high of 5167. However, it failed to sustain higher and moved lower to touch an intra-day low of 5085. It ended the day with 22/02/2013 21/02/2013 % Chg. moderate losses to close the day at 5102. The RSI and the Stochastic are placed below their respectiveGold (oz) 1,581.60 1,578.70 0.18% averages, which would lead to intermediate bouts of sellingSilver (oz) 28.78 28.71 0.24% pressure. However, both the RSI and the Stochastic are placed in the over sold zone, which would lead to short covering at lowerWTI Crude (bbl) 93.21 92.84 0.40% levels. The –DI line and ADX line are placed above the +DI line. The –DI line is also placed above the 32 level, indicating sellers areBrent Crude (bbl) 114.07 113.53 0.48% gaining strength. MCX Crude faces resistance at 51225157, 5250,Dollar Index 81.30 81.36 -0.07% 5300 and 5401, while the supports are placed and 5085, 5065, 4989 and 4834.Source – www.cmegroup.com Sanjay Bhatia (AVP – Technical Research) Email sanjay@keynotecapitals.net Yahoo Id: keytechnicals@yahoo.in NOTE – Stop Losses should be considered strictly on Closing Basis Keynote Capitals Ltd. The Ruby, 9th Floor, Senapati Bapat Marg, Dadar (W), Mumbai – 400 028. Tel: 3026 6000. Fax: 3026 6088. www.keynotecapitals.com
  2. 2. Commodity News:Jeera exports to touch all-time highIndia continues to dominate the global jeera market in the absence of other major producers - Syria and Turkey. Indiasjeera exports are expected to show around 30% rise year-on-year. "Exports have already reached around 45,000tonne. They could end up close to 60,000 tonne by the end of the fiscal year as the new crop has started arriving," saidShailesh Shah, director of Jabs International, a leading exporter of jeera.India may raise orthodox tea output this yearIndian tea producers may look at increasing orthodox, or handrolled, tea production in the new season beginningMarch, as the payment crisis with Iran - one of the largest buyers of Indian orthodox tea - has been sorted out.Orthodox tea production is likely to go up by 10 million kg and may touch 80 million kg in the new season.Gold rises to session highs after US data disappointsGold partly recouped the previous sessions losses on Thursday, gaining more than one per cent as weaker-than-expected US data raised concerns over the state of the economic recovery. The Federal Reserve Bank of Philadelphiasaid business conditions unexpectedly weakened in February to the lowest since June 2012.Source: ETEconomic Calendar: Countries / Friday Monday Tuesday Regions 22/13 25/13 26/13 India Bank Loan Growth (Feb 3) FX Reserves, USD (Feb 24) FOMC Member Powell Dallas Fed Manufacturing US Consumer Confidence (Feb) Speech Business Index (Feb) New Home Sales (MoM) (Jan) Housing Price Index (MoM) (Dec) European Commission China HSBC Manufacturing Japan Retail Trade (YoY) Global Releases Economic Growth PMI (Feb) (Jan) Forecasts China MNI Business UK Nationwide Housing Germany Retail Sales (YoY) Sentiment Indicator (Feb) Prices n.s.a (YoY) (Feb) (Jan) Germany Gross Domestic Product s.a (QoQ) (Q4) Keynote Capitals Ltd. The Ruby, 9th Floor, Senapati Bapat Marg, Dadar (W), Mumbai – 400 028. Tel: 3026 6000. Fax: 3026 6088. www.keynotecapitals.com
  3. 3. DisclaimerThis document is not for public distribution and has been furnished to you solely for your information and must not be reproduced orredistributed to any other person. Persons into whose possession this document may come are required to observe these restrictions.This material is for the personal information of the authorized recipient, and we are not soliciting any action based upon it. This report is notto be construed as an offer to sell or the solicitation of an offer to buy any security in any jurisdiction where such an offer or solicitationwould be illegal. It is for the general information of clients of Keynote Capitals Ltd. It does not constitute a personal recommendation ortake into account the particular investment objectives, financial situations, or needs of individual clients.We have reviewed the report, and in so far as it includes current or historical information, it is believed to be reliable though its accuracy orcompleteness cannot be guaranteed. Neither Keynote Capitals Ltd., nor any person connected with it, accepts any liability arising from theuse of this document. The recipients of this material should rely on their own investigations and take their own professional advice. Priceand value of the investments referred to in this material may go up or down. Past performance is not a guide for future performance.Certain transactions -including those involving futures, options and other derivatives as well as non-investment grade securities - involvesubstantial risk and are not suitable for all investors. Reports based on technical analysis centers on studying charts of a stock’s pricemovement and trading volume, as opposed to focusing on a company’s fundamentals and as such, may not match with a report on acompany’s fundamentals.Opinions expressed are our current opinions as of the date appearing on this material only. While we endeavor to update on a reasonablebasis the information discussed in this material, there may be regulatory, compliance, or other reasons that prevent us from doing so.Prospective investors and others are cautioned that any forward-looking statements are not predictions and may be subject to changewithout notice. Our proprietary trading and investment businesses may make investment decisions that are inconsistent with therecommendations expressed herein.We and our affiliates, officers, directors, and employees world wide may: (a) from time to time, have long or short positions in, and buy orsell the securities thereof, of company (ies) mentioned herein or (b) be engaged in any other transaction involving such securities and earnbrokerage or other compensation or act as a market maker in the financial instruments of the company (ies) discussed herein or act asadvisor or lender / borrower to such company (ies) or have other potential conflict of interest with respect to any recommendation andrelated information and opinions.The analyst for this report certifies that all of the views expressed in this report accurately reflect his or her personal views about thesubject company or companies and its or their securities, and no part of his or her compensation was, is or will be, directly or indirectlyrelated to specific recommendations or views expressed in this report.No part of this material may be duplicated in any form and/or redistributed without Keynote Capitals Ltd’s., prior written consent. Keynote Capitals Ltd. The Ruby, 9th Floor, Senapati Bapat Marg, Dadar (W), Mumbai – 400 028. Tel: 3026 6000. Fax: 3026 6088. www.keynotecapitals.com

×