Daily mcx newsletter 28 june 2013


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Daily mcx newsletter 28 june 2013

  1. 1. www.TheEquicom.com +919200009266 28-JUNE-2013 www.TheEquicom.com +919200009266 MCX NEWSLETTER- DAILY Daily MCX Newsletter 28-JUNE-2013
  3. 3. www.TheEquicom.com +919200009266 BULLION A few weeks back, Commodity Online noted of a decoupling in gold and silver as the US economy showed signs of recovery. Well the coupling is back as investors abandon gold and silver futures in droves as they move to other asset classes like equities. The latest episode of gold and silver downturn is being witnessed as US new home sales data in US climbed 2.1% to a seasonally adjusted annual rate of 476000 units and the S&P/Case-Shiller Index of home prices in different U.S. metros climbed to 12.1% in April. Last week only, Ben Bernanke of US Federal Reserve hinted of putting an end to QE measures by next year. This sparked a downtrend which was hardly seen in recent times. Macro economic indicators suggest that US Dollar may gain strength as the months progress riding on growth expectations in US. This may prove to be bearish for silver and gold. “The coupling between gold and silver has been there for a long time primarily because of the investment demand that characterizes both commodities. The decoupling, however occurred as silver industrial demand too played a hand. Now, the industrial demand is taking a backseat as silver futures follow gold in heavy sell-off,” said John Godson, Technical Analyst with Commodity Online. Silver on the Comex for delivery on September 13 was seen trading at $18.985/oz, a loss of $0.567 or 2.90% as of 10.49 AM IST. Gold, meanwhile has lost close to 2%. MARKET NEWS ENERGY The trend in crude oil futures for July delivery on India's Multi Commodity Exchange (MCX) looks sideways for the day. Traders are advised to wait till the release of weekly US crude oil inventory data which is scheduled to be released at 08.00 PM IST by Energy Information Administration (EIA). The inventory data is expected to be positive for the crude oil prices. “For intra-day, support for the commodity is seen at 5700 while resistance is seen at 5840. If prices break the level of 5840 then prices are expected to move towards 6000.” “Traders may take buy position above 5840 with the stop loss of 5800 for the target near 5900 and above that it may touch level of 6000. MCX crude oil futures for July delivery was seen trading up by 1.70% at Rs.5789 per barrel as of 05.22 PM IST on Wednesday. In the global market, Brent crude oil prices fell on Wednesday after US data boosted the Dollar. A positive US data also supported the speculation that US Federal Reserve may stop pumping money in to the economy. Meanwhile, US crude oil stockpiles declined by 28,000 barrels for the week to June 21, according to the data released by the American Petroleum Institute (API). WTI crude oil futures for August delivery on NYMEX was seen trading down by 0.47% $94.88 per barrel as of 05.38 PM IST on Wednesday. Brent crude oil futures for August delivery on NYMEX was seen trading down by 0.10% $101.20 per barrel as of 05.39 PM IST on Wednesday. . BASE METAL Copper prices on London Metal Exchange (LME) declined on concern that less than expected economic growth in China the would damp the base metal demand. LME prices were seen trading at $6695 down by around 1 percent. Copper futures for September delivery on Globex platform of Comex was seen trading down by 1.48% at Rs.3.032 per pound as of 01.39 PM IST on Wednesday. Persisting cash crunch in China and less than expected economic growth around the globe are putting pressure on the base metal prices to certain extent in the global market. However, in the United States, a latest report indicated improvement in single-family home prices, which indicates growing potential for commodities. The latest data by S&P showed that home prices climbed more than forecast in the 12-months ending April, showing the most gain since more than seven years and showing further strength in the US housing market. The S&P/Case Shiller composite index of 20 metropolitan areas rose by 1.7 %, against the forecast of 1.2%. According to the agency, the property prices in the 20 cities of US increased 12.1% on year-on-year basis from April 2012, highest gain since March 2006. Copper on the Comex for delivery on September 13 was seen trading at $3.058a pound, a gain of $0.029 or 0.96% as of 04.50 PM IST.
  4. 4. www.TheEquicom.com +919200009266 GOLD (5 AUGUST) OUTLOOK: TREND : -BEARISH RESISTANCE : - 22775, 26020 SUPPORT : - 25265, 25000 STRATEGY : - SELL ON HIGHS TECHNICAL VIEW SILVER (5 JULY) OUTLOOK: TREND : - BEARISH RESISTANCE : - 39380, 40060 SUPPORT : - 38600, 38000 STRATEGY : - SELL ON HIGHS BULLION
  5. 5. www.TheEquicom.com +919200009266 ENERGY CRUDEOIL (19 JULY) OUTLOOK: TREND : - CONSOLIDATE RESISTANCE : - 5900, 5950 SUPPORT : - 5800, 5740 STRATEGY : - SELL ON HIGHS NATURAL GAS (26 JULY) OUTLOOK: TREND : - CONSOLIDATE RESISTANCE : - 221.50, 225.70 SUPPORT : - 212.40, 209.90 STRATEGY : - SELL ON HIGHS
  6. 6. www.TheEquicom.com +919200009266 BASE METAL COPPER (30 AUG.) OUTLOOK: TREND : - CONSOLIDATE RESISTANCE : - 414.60, 418.20 SUPPORT : - 407.80, 402.20 STRATEGY : - SELL ON HIGHS LEAD (31 JULY) OUTLOOK: TREND : - CONSOLIDATE RESISTANCE : - 124.80, 125.80 SUPPORT : - 122.60, 120.00 STRATEGY : - SELL ON HIGHS
  7. 7. www.TheEquicom.com +919200009266 ZINC (31 JULY) OUTLOOK: TREND : - CONSOLIDATE RESISTANCE : - 111.20, 112.30 SUPPORT : - 108.20, 107.00 STRATEGY : - SELL ON HIGHS ALUMINUM (31 JULY) OUTLOOK: TREND : - CONSOLIDATE RESISTANCE : - 106.70, 108.20 SUPPORT : - 104.70, 103.00 STRATEGY : - SELL ON HIGHS NICKEL (31 JULY) OUTLOOK: TREND : - CONSOLIDATE RESISTANCE : - 835.00, 855.00 SUPPORT : - 810.00, 790.00 STRATEGY : - SELL ON HIGHS
  8. 8. www.TheEquicom.com +919200009266 GOLD 1202.00 SILVER 18.7500 COPPER 03.0658 CRUDE OIL 96.3100 NATURAL GAS 03.862 PALLADIUM 671.35 PLATINUM 1357.50 USDINR 60.1000 EURUSD 01.3061 USDJPY 98.7400 USDCHF 00.9438 GBPUSD 01.5260 USDCAD 01.0487 INTERNATIONAL MARKET
  9. 9. www.TheEquicom.com +919200009266 ECONOMIC CALANDER
  10. 10. www.TheEquicom.com +919200009266
  11. 11. www.TheEquicom.com +919200009266 Disclaimer The information and views in this report, our website & all the service we provide are believed to be reliable, but we do not accept any responsibility (or liability) for errors of fact or opinion. Users have the right to choose the product/s that suits them the most. Sincere efforts have been made to present the right investment perspective. The information contained herein is based on analysis and up on sources that we consider reliable. This material is for personal information and based upon it & takes no responsibility The information given herein should be treated as only factor, while making investment decision. The report does not provide individually tailor-made investment advice. TheEquicom recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a financial adviser. TheEquicom shall not be responsible for any transaction conducted based on the information given in this report, which is in violation of rules and regulations of NSE and BSE. The share price projections shown are not necessarily indicative of future price performance. The information herein, together with all estimates and forecasts, can change without notice. Analyst or any person related to TheEquicom might be holding positions in the stocks recommended. It is understood that anyone who is browsing through the site has done so at his free will and does not read any views expressed as a recommendation for which either the site or its owners or anyone can be held responsible for . Any surfing and reading of the information is the acceptance of this disclaimer. All Rights Reserved. Investment in Commodity and equity market has its own risks. We, however, do not vouch for the accuracy or the completeness thereof. we are not responsible for any loss incurred whatsoever for any financial profits or loss which may arise from the recommendations above. TheEquicom does not purport to be an invitation or an offer to buy or sell any financial instrument. Our Clients (Paid Or Unpaid), Any third party or anyone else have no rights to forward or share our calls or SMS or Report or Any Information Provided by us to/with anyone which is received directly or indirectly by them. If found so then Serious Legal Actions can be taken.