Gold prices are trading on positive nota after the data released on Friday showed that U.S.economic growth braked sharply in the last quarter of 2015, expanding at an annual 0.7 percent rate, as tepid global demand weighed on exports.

2. ✍MCX DAILY LEVELS
DAILY EXPIRY
DATE
R4 R3 R2 R1 PP S1 S2 S3 S4
ALUMINIUM 29 FEB 2016 107 105 104 103.90 103.55 103.10 102.45 101.25 100.15
COPPER 29 FEB 2016 321 317 314 313 311 310 309 306 303
CRUDE OIL 29 FEB 2016 2630 2516 2402 2345 2288 2231 2174 2060 1946
GOLD 05 APR 2016 27280 27089 26898 26823 26707 26632 26516 26325 26134
LEAD 29 FEB 2016 123.20 120.65 117.95 117.00 115.30 114.45 112.65 110.05 107.35
NATURAL GAS 24 FEB 2016 172 166 160 158 154 152 148 142 136
NICKEL 29 FEB 2016 601 594 587 583 580 576 573 566 559
SILVER 04 MAR 2016 35719 35380 35041 34888 34702 34549 34363 34024 33685
ZINC 29 FEB 2016 116 113 111 110 108 107 106 103 101
✍MCX WEEKLY LEVELS
WEEKLY EXPIRY R4 R3 R2 R1 PP S1 S2 S3 S4
ALUMINIUM 30 SEP 2015 115.85 111.50 107.15 105.45 102.80 101.10 98.45 94.10 89.75
COPPER 29 FEB 2016 352 337 322 316 307 301 292 277 262
CRUDE OIL 29 FEB 2016 3067 2789 2511 2399 2233 2121 1955 1677 1399
GOLD 05 APR 2016 28733 28037 27341 27044 26645 26348 25949 25253 24557
LEAD 31 MAR 2016 133 126 120 118 114 112 107 101 95
NATURAL GAS 24 FEB 2016 198 182 166 161 150 145 134 118 102
NICKEL 29 FEB 2016 638 620 602 591 584 573 566 548 530
SILVER 04 MAR 2016 38233 37092 35951 35343 34810 34202 33669 32528 31387
ZINC 29 FEB 2016 133 124 115 112 106 103 98 89 80

3. WEEKLY MCX CALL
SELL ZINC FEB BELOW 107.30 TGT 105 SL 109.40
PREVIOUS WEEK CALL
SELL GOLD FEB BELOW 26200 TGT 25900 SL 26511 - SL
BUY ZINC JAN ABOVE 104 TGT 107 SL 101.90 - TGT ACHIEVED
✍FOREX DAILY LEVELS
DAILY EXPIRY
DATE
R4 R3 R2 R1 PP S1 S2 S3 S4
USDINR 25 FEB 2016 69.1
0
68.75 68.40 68.20 68.10 67.90 67.75 67.45 67.10
GBPINR 25 FEB 2016 75.3
0
74.80 74.30 73.95 73.80 73.45 73.30 72.80 72.30
EURINR 25 FEB 2016 99 98.30 97.65 97.35 97.05 96.70 96.40 95.75 95.10
JPYINR 25 FEB 2016 59.4
5
58.85 58.25 57.85 57.65 57.20 57 56.40 55.80
✍FOREX WEEKLY LEVELS
DAILY EXPIRY
DATE
R4 R3 R2 R1 PP S1 S2 S3 S4
USDINR 25 FEB 2016 70.1
5
69.50 68.85 68.40 68.15 67.75 67.50 66.85 66.20
GBPINR 25 FEB 2016 78.7
0
77.20 75.65 74.60 74.10 73.10 72.60 71.05 69.50
EURINR 25 FEB 2016 99.9
5
99 98.05 97.55 97.10 96.60 96.10 95.15 94.20
JPYINR 25 FEB 2016 62.5
5
61 59.45 58.45 57.95 56.90 56.40 54.85 53.30
WEEKLY FOREX CALL
BUY GBPINR JAN AABOVE 97 TGT 97.50 SL 96.48
BUY EURINR JAN ABOVE 57 TGT 57.70 SL 56.30
PREVIOUS WEEK CALLL
BUY GBPINR JAN ABOVE 97.52 TGT 98.50 SL 96.89 - NOT EXECUETD.

4. ✍NCDEX DAILY LEVELS
DAILY EXPIRY
DATE
R4 R3 R2 R1 PP S1 S2 S3 S4
SYOREFIDR 19 FEB 2016 633 627 621 618 615 612 609 603 597
SYBEANIDR 19 FEB 2016 3924 3860 3796 3753 3732 3689 3668 3604 3540
RMSEED 20 APR
20165
4079 3998 3917 3871 3836 3790 3755 3674 3593
JEERAUNJHA 18 MAR 2016 14225 13965 13705 13555 13445 13295 13185 12925 12665
CHANA 20 APR 2016 4435 4357 4279 4230 4201 4152 4123 4045 3967
✍NCDEX WEEKLY LEVELS
WEEKLY EXPIRY
DATE
R4 R3 R2 R1 PP S1 S2 S3 S4
SYOREFIDR 19 FEB 2016 643 633 623 619 613 609 603 593 583
SYBEANIDR 19 FEB 2016 4117 3993 3869 3790 3745 3666 3621 3497 3373
RMSEED 20 APR 2016 4403 4226 4049 3937 3872 3760 3695 3518 3341
JEERAUNJHA 18 MAR 2016 15300 14665 14025 13715 13385 13075 12745 12105 11466
CHANA 20 APR 2016 4730 4565 4400 4290 4235 4125 4070 3905 3740
WEEKLY NCDEX CALL
BUY TMC APR ABOVE 8550 TGT 8850 SL 8240
PREVIOUS WEEK CALL
SELL REFSOYA FEB BELOW 610 TGT 600 SL 621.20 - CLOSED AT 611.95

5. MCX - WEEKLY NEWS LETTERS
INTERNATIONAL NEWS
✍ Bullion
Gold prices are trading on positive nota after the data released on Friday showed that U.S.
economic growth braked sharply in the last quarter of 2015, expanding at an annual 0.7 percent
rate, as tepid global demand weighed on exports. The data raised expectations that the Federal
Reserve will slow the pace of future U.S. rate increases, bolstering gold. Hedge funds and
money managers boosted their bullish bet in COMEX gold to a 12-week high in the week to
Jan. 26, as they also hiked a silver net long stance, U.S. Commodity Futures Trading
Commission data showed on Friday. The metal has risen more than 5 percent in January,
underpinned by concerns over the world's growth outlook, especially China, which has raised
questions about the pace of interest rate rises in the United States. Global equities jumped and
the yen slumped after the Bank of Japan stunned markets by adopting negative interest rates,
while hopes the U.S. Federal Reserve will slow the pace of future rate hikes also underpinned
stock gains and supported gold prices. The market largely shrugged off comment by Dallas Fed
President Robert Kaplan, who said the Fed will be patient about policy decisions. The dollar's
ascent accelerated after the release of the U.S. gross domestic product report, which was in line
with economists' expectations, but showing a decline.
✍ Energy
US crude oil futures extended gains on Friday to take their weekly rise to more than 4% on
hopes of a global deal between oil-producing countries to help tackle a growing supply glut. US
crude climbed 32 cents at $33.54 a barrel as of 2338 GMT, after it settled up 92 cents, or 2.9 %,
at $33.22 per barrel, down from a high of $34.82. Global benchmark Brent ended up 79 cents,
or 2.4 %, at $33.89 a barrel, after trading as high as $35.84. "Despite the unlikely scenario of
supply cutbacks in the oil market, prices have found some support above $30 a barrel. We
believe this basis is fragile, with fundamentals expected to weaken in the coming weeks," ANZ
said on Friday. "We think the likelihood of an agreement between producers is extremely low.
In the absence of a supply cut, there is further downside risk to prices in the short term." Brent
futures rallied as much as 8 % after Russia said on Thursday that OPEC's largest producer
Saudi Arabia, had proposed oil production cuts of up to 5 % in what would be the first global
deal in over a decade to help clear a glut of crude and prop up sinking prices "We remain
highly sceptical that such a meeting will result in credible cuts in supply; thus, we see this as
nothing more than an attempt to shift market sentiment, and we do not expect that it will
change the physical market imbalance," Barclays said, referring to meetings between OPEC
members and Russia."In our view, the price path implied by our forecasts, of Brent trading less
than $40 a barrel for at least two quarters, is required for the balancing process to take place,
paving the way for a more sustainable increase in prices." The rebound in the oil market lifted
share prices on Wall Street and other stock markets in another rollercoaster session. European

6. stocks fell on disappointing earnings reports. The dollar slipped on bets that interest rate hikes
by the Federal Reserve would be more gradual than it has suggested.
U.S. natural gas futures ended up more than 5 percent on Friday in a short covering rally on
forecasts for colder weather through the middle of February that should boost heating demand.
That put the front month up over 7 percent for the week for its second weekly gain in a row but
down over 1 percent for the month. Both the U.S. and European weather models called for
cooler weather over the next two weeks. The U.S. model called for colder than normal weather
with the latest forecast at noon calling for even colder weather than earlier anticipated.
Forecasts for the rest of the winter, however, look much less cold due to the warming effect of
the El Nino weather pattern with February expected to be about 13 percent warmer than normal
and March 17 percent warmer than normal, according to long range forecasts on Thomson
Reuters Analytics.
✍ Base Metal
Copper rose on Friday as traders and funds expecting tighter supplies reversed their bets on
lower prices, although uncertainty about Chinese demand is expected to cap gains ahead of the
Lunar New Year holiday. China's week-long Lunar New Year holiday starts on Feb. 8. China
accounts for about half of global copper consumption, estimated at around 22 million tonnes
this year. The country's demand for copper is still growing but at a much slower pace than in
previous years, leaving the market over supplied. But news that Freeport McMoRan has lost its
right to export copper concentrate valued at more than $1 billion from one of the world's
biggest mines in Indonesia has fuelled the idea of lower supplies. Freeport's six-month licence
to export concentrate expired on Thursday and it was unclear how soon a new one would be
issued, with the two sides yet to resolve a government demand that the U.S. company first pays
a $530 million deposit.
Broader markets remained firm on Friday after U.S. economic growth braked sharply in the
fourth quarter as tepid global demand weighed on exports, on expectations that the Federal
Reserve will not by in a hurry to raise the interest rates. Freeport Mc MoRan has lost its right to
export copper concentrate valued at more than $1 billion from one of the world's biggest mines
in Indonesia has fuelled the idea of lower supplies and has fuelled the upside rally in copper.
Freeport's six-month licence to export concentrate expired on Thursday and it was unclear how
soon a new one would be issued, with the two sides yet to resolve a government demand that
the U.S. company first pays a $530 million deposit. Lead prices also surged on Friday on
worries about supplies, after LME data showed one company holding between 30 percent and
40 percent of warrants and another holding between 40 percent and 50 percent.
✍ NCDEX - WEEKLY NEWS LETTERS
The Securities and Exchange Board of India (Sebi) has asked National Commodity &
Derivatives Exchange (NCDEX) for a full report explaining why it suspended futures in castor

7. seed, one of the agriculture-centric exchange’s most liquid contracts. Sebi has asked the
exchange to explain what had happened in castor seed segment and what actions are being
taken.Sebi is also investigating trading in other agricultural commodities including
coriander.Castor seed volumes used to be around Rs 450-500 crore on most days, nearly 15 per
cent of exchange’s total volume. NCDEX has said it was unable to pay mark-to-market
margins when prices started falling from beginning of this month. In January, prices fell by 20
per cent. In the last one week, prices fell by some 12 per cent.The decision to suspend futures
led to a controversy because last year 100 per cent margin was imposed on the castor seed
futures. The margin has been increased frequently in the past few months even after regulations
came under the Sebi.Brokers have protested the NCDEX decision saying those who wanted to
give delivery should have been given time for that. According to sources, NCDEX decided to
suspend the commodity as raising margin would not have helped if some players were not in a
position to pay at current rate.
The exchange is also investigating the reasons
behind such high margins. The sebi, however, has taken the matter seriously. Issues like castor
seed suspension and measures announced by the Sebi last week (reduction in position limits for
near-month contracts and capping daily circuit limits) arising after market failed to judiciously
utilize liberalisation of position limits implemented by the Forward Markets Commission
(FMC) a year ago. Liberalisation in positions limits one-and-a-half year ago by the Forward
Markets Commission was aimed at allowing big players like corporate/producers to hedge the
requirement or output. The liberalisation was done after detailed consultation with stakeholders
which followed recommendation by the risk management group headed by IIM-A professor
Jayant Verma.Even netting of margin was allowed to traders having different side positions in
two different maturity contracts of same commodity. Which a corporate house is understood to
have used to hold highly leveraged position in castor.
✍Jeera
Jeera prices closed lower by 0.45 per cent on Friday at the National Commodity & Derivatives
Exchange Limited (NCDEX) on account of a surge in the supply from the producing regions in
the midst of a decline in the export demand. At the NCDEX, jeera futures for March 2016
contract closed at Rs. 13,400 per quintal, down by 0.45 per cent, after opening at Rs. 13,485
against the previous closing price of Rs. 13,460. It touched the intra-day low of Rs. 13,340.
The NCDEX Jeera futures started the week on a positive note during the week that ended on 29
Jan 2016 recovering from their previous week’s fall. Short covering had resulted into recovery
in the prices. However, market failed to extend its recovery, as the fundamental factors were
bearish for the market. Hence, futures prices started their negative trend and witnessed
volatility during the week. Futures market moved in sync with physical markets. Due to lack of
buying interest from traders and exporters, spot prices remained under pressure during the
week. Subdued demand from overseas buyers and limited stockiest buying at spot market also
pressurized the prices. However, arrivals were declined at spot market of Unjha but overall
bearish sentiments on sluggish demand pulled down the prices. Stock position of commodities
at NCDEX approved warehouse as on 29 Jan 2016 is 272 MT.

8. ✍Mustard seed
Mustard Seed prices closed lower by 1.54 per cent on Friday at the National Commodity &
Derivatives Exchange Limited (NCDEX) as a result of the profit booking by the traders on
account of the weak crushing and export demand of mustard meal. At the NCDEX, Mustard
Seed futures for April 2016 contract closed at Rs. 3,825 per quintal, down by 1.54 per cent,
after opening at Rs. 3,868 against the previous closing price of Rs. 3,885. It touched the intra-
day low of Rs. 3,802.
✍ Chana
Chana prices fell by 0.61% to Rs 4,221 per quintal in futures trade today as participants cut
down their holdings amids muted demand at domestic spot markets and persistent
imports.Besides, expectations of good crop across the growing states, Rajasthan and Madhya
Pradesh weighed on chana prices.At the National Commodity and Derivative Exchange, chana
for April month declined by Rs 26, or 0.61%, to Rs 4,221 per quintal with an open interest for
27,170 lots.Similarly, chana for May delivery fell by Rs 25, or 0.58% to Rs 4,280 per quintal
with an open interest for 7,060 lots.Traders said besides profit-booking by speculators, subdued
demand in the spot market at existing higher levels mainly led to the fall in chana prices at
futures trade.During Friday’s trading session NCDEX Chana April opened negative, while
traded southwards during most part of the session and ended the day on a negative note.
According to data released on 28 th Jan 2016 by Agriculture Ministry, total area sown under
Rabi crops as on stands to 591.51 lakh hectares against 609.31 lakh hectare in the previous
year. Out of which pulses is sown under 139.08 lakh hectares against 143.01 lakh hectare in the
previous year. During last 10 years average annual wholesale price inflation (WPI) of pulses is
around 9.4 per cent, whic
According to Madhya pradesh Agriculture Department, this year chana production will be
increased to 30.54 lakh ton against 27.65 lakh ton in the previous year. Apart from Madhya
pradesh it is expected t
✍ Castorseed
Castorseed prices fell by 1.04 per cent on Monday at the National Commodity & Derivatives
Exchange Limited (NCDEX) as a result of fresh supply of the commodity in the major mandies
as well as strong production estimates. At the NCDEX, castor seed futures for April 2016
contract was trading at Rs. 3,345 per quintal tonnes, down by 1.04 per cent, after opening at Rs.
3,391 against the previous closing price of Rs. 3,380. It touched the intra-day low of Rs. 3,340
till the trading.

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