Daily Commodity Report                                                                                                    ...
Commodity News:Indian tea rises on good demand; poor quality leaf supplies weighTea prices in India, the worlds second-big...
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Keynote commodity daily report for 260213

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Keynote commodity daily report for 260213

  1. 1. Daily Commodity Report 26th February 2013 Gold Silver Crude MCX GOLD (5 APRIL 13) – 25-Feb-13 Gold opened lower at 29579 but it managed to move higher. It Expiry 05-Apr-13 05-Mar-13 19-Mar-13 touched an intra-day high of 29675. However, it failed to sustain Open 29,579 53,750 5,065 higher and moved lower to touch an intra-day low of 29491. It ended the day on a flat note to close at 29617. High 29,675 54,190 5,104 The RSI and the Stochastic are placed above their respective Low 29,491 53,512 5,026 averages. Moreover, both oscillators are also placed around the Close 29,617 53,972 5,051 over sold zone. These positive conditions would lead to intermediate bouts of short covering and buying support. Though Prev. Close 29,605 53,702 5,074 the –DI line and ADX line are placed above the +DI line and are % Change 0.04% 0.50% -0.45% also placed above the 38 level but these have come off their recentSource – MCX highs, indicating sellers are covering shorts regularly. MCX Gold faces resistance at 30000, 30150, 30475, and 30916 while the Volume (In 000s) support levels are placed at 29500, 29142 and 28765. 25-Feb-13 23-Feb-13 % Chg. MCX SILVER (5 MARCH 13) – Silver opened higher at 53750 but moved lower to touch an intra- Gold (gms) 29,359.0 2,141.0 1271.28% day low of 53512. However, it managed to bounce back from lows Silver (kgs) 1,982.9 86.4 2194.17% for the day. It moved higher to touch an intra-day high of 54190. It ended the day with moderate gains to close at 53972. Crude (bbl) 21,311.2 365.0 5738.68% The RSI has moved above its average. Moreover, the Stochastic isSource – MCX already above its average. The Stochastic and RSI are still placed in the over sold zone. These positive conditions would lead to Turnover (In Lacs) intermediate bouts of short covering and buying support at lower 25-Feb-13 23-Feb-13 % Chg. levels. Though the –DI line and ADX line are placed above the +DI line and are also placed above the 36 level but these have comeGold 868,540.6 63,347.5 1271.07% off their recent highs, indicating sellers are covering shortsSilver 1,067,520.6 46,397.2 2200.83% regularly. MCX Silver faces resistance at 55952, 56372, and 56613 while the supports are placed at 53621, 52622 and 51660Crude 1,078,411.8 18,518.9 5723.31% levels.Source – MCX MCX CRUDE (19 MARCH 13) – Global Market (Nymex - $) Crude opened lower at 5065 but moved higher to touch an intra- day high of 5104. However, it ailed to sustain higher and moved 26/02/2013 25/02/2013 % Chg. lower to touch an intra-day low of 5026. It ended the day with modest losses to close the day at 5051.Gold (oz) 1,596.30 1,586.60 0.61%Silver (oz) 29.08 29.05 0.10% The RSI and the Stochastic are placed below their respective averages, which would lead to intermediate bouts of sellingWTI Crude (bbl) 92.58 93.11 -0.57% pressure. However, the Stochastic and RSI are also placed in theBrent Crude (bbl) 113.92 114.44 -0.45% over sold zone, which would lead to short covering at lower levels.Dollar Index 81.78 81.89 -0.13% Though the –DI line and ADX line are placed above the +DI line. The –DI line is placed above the 37 level, indicating sellers areSource – www.cmegroup.com gaining strength. MCX Crude faces resistance at 5085, 5122, 5157 and 5250, while the supports are placed at 5065, 4989 and 4834. 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:Indian tea rises on good demand; poor quality leaf supplies weighTea prices in India, the worlds second-biggest producer, rose at last weeks auction on an improvement in demandfrom local buyers, though supplies of poor grade leaf capped the price rise in dust grade variety.Wheat, maize rises on scattered buyingWheat and maize prices rose upto Rs 20 per quintal at the wholesale grains market today on scattered buying by flourmills and stockists.Brent oil trades near four-day high before Iran nuclear talksBrent crude traded near the highest level in four days on Monday before international talks with Iran on its nuclearprogram. China increased fuel prices for the first time since September. Futures rose as much as 1.6% after gaining0.5% on February 22.Source: ETEconomic Calendar: Countries / Tuesday Wednesday Thursday Regions 26/13 27/13 28/13 Gross Domestic Product India Quarterly (YoY) (Q4) Infrastructure Output (YoY) (Jan)e Federal Fiscal Deficit, INR (Jan) Gross Domestic Product US Consumer Confidence (Feb) Durable Goods Orders (Jan) Annualized (Q4) Core Personal New Home Sales (MoM) Feds Bernanke testifies Consumption Expenditures (Jan) (QoQ) (Q4) Housing Price Index (MoM) Initial Jobless Claims (Feb (Dec) 24) Japan Retail Trade (YoY) UK Gross Domestic Product Japan Capital Spending Global (Jan) (YoY) (Q4) (Q4) Germany Retail Sales (YoY) Japan ndustrial Production UK Gfk Consumer (Jan) (YoY) (Jan)Preliminar Confidence (Feb) European Monetary Union Consumer Confidence (Feb) 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

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