1. DAILY MCX NEWSLETTER
JAN. 2014
01-JAN. -2014
THE EQUICOM PROFIT UPDATE: PLEASE CLOSE YOUR POSITION IN COPPER, OUR SL TRIGGERED
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2. BULLION:
US gold futures fell further on Tuesday easing gains recorded in the previous
session and was seen heading for its highest yearly loss since 1981 after investors withdrew their
investment from gold and shifted into equities. Gold futures for February delivery on Comex
platform of globex was seen trading with a loss of $6.4 at $1197.4 per troy ounce as of 09.58 IST on
Tuesday.
Holdings at SPDR Gold Trust fell 0.37 percent to 798.22 tons on Monday from 801.22 tonnes on
Friday. China's gold imports from Hong Kong declined 42% to below 100 tons in November,
showing a fall in jewellery demand and retail investors' buying.
BASE METAL:
China flipped back to being a net importer of tin in November after being a
net exporter for the first time since 2007 in October. Domestic tin mine production and refined tin
production both declined year-on-year basis after having risen strongly for much of the year, this
means we could see more strengthening in tin imports in the months ahead, said London based
Barclays in its recent market analysis.
Zinc concentrate imports fell 22% year-on-year back in November and are flat YTD, possibly due to
improved domestic availability from the strong recovery in domestic zinc mine production this
year. Refined zinc imports, meanwhile, remained strong, up 91% year-on-year in November and
26% YTD given the open import arb and solid financing demand. However, with the arb having
narrowed sharply in mid-December, imports could ease back in early 2014, the bank noted.
ENERGY: Natural gas futures at India's Multi Commodity Exchange (MCX) has been trading
in the range 180-280 in the last five years.In 2013 also it started on a lower note and gained close to 20
percent for the first quarter. Thereafter, it was range bound for two quarters. A sharp gain has taken
place for the last quarter and rose 26 percent as on Dec 27 to 280 levels and reached its resistance
level. Overall, Natural Gas prices gained near to 53 percent in 2013.
India crude oil futures continued to trade down tracking a slight drop in NYMEX crude oil prices.
Meanwhile, copper futures was seen exhibiting volatile movement since morning.
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3. BULLION
GOLD (5 FEB.)
OUTLOOK:
TREND
RESISTANCE
SUPPORT
STRATEGY
: -CONSOLIDATE
: - 28600, 28800
: - 28250, 28100
: - SELL ON HIGH
SILVER (5 MAR.)
OUTLOOK:
TREND
RESISTANCE
SUPPORT
STRATEGY
: - CONSOLIDATE
: - 44400, 44800
: - 43300, 42800
: - SELL ON HIGH HIGH
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4. ENERGY
CRUDEOIL (20 JAN.)
OUTLOOK:
TREND
RESISTANCE
SUPPORT
STRATEGY
: - CONSOLIDATE
: - 6160, 6220
: - 6090, 6050
: - SELL ON HIGH
NATURAL GAS (28 JAN.)
OUTLOOK:
TREND
RESISTANCE
SUPPORT
STRATEGY
: -CONSOLIDATE
: - 269.00, 273. 00
: - 260.00, 256.50
: - BUY ON DIPS
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5. BASE METAL
COPPER (28 FEB.)
OUTLOOK:
TREND
RESISTANCE
SUPPORT
STRATEGY
: - CONSOLIDATE
: -472.00, 476.00
: - 464.50, 460.00
: - SELL ON HIGH
LEAD (31 JAN.)
OUTLOOK:
TREND
RESISTANCE
SUPPORT
STRATEGY
: - CONSOLIDATE
: - 138.00, 139.00
: - 135.00, 134.00
: - SELL ON HIGH
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6. ZINC (31 JAN.)
OUTLOOK:
TREND
RESISTANCE
SUPPORT
STRATEGY
: - CONSOLIDATE
: - 130.50, 131.50
: - 127.50, 126.50
: - SELL ON HIGH
ALUMINUM (31 JAN.)
OUTLOOK:
TREND
RESISTANCE
SUPPORT
STRATEGY
: - CONSOLIDATE
: - 110.50, 111.50
: - 108.00, 107.00
: - SELL ON HIGH
NICKEL (31 JAN.)
OUTLOOK:
TREND
RESISTANCE
SUPPORT
STRATEGY
: - CONSOLIDATE
: - 870.00, 878.00
: - 857.50, 848.00
: - SELL ON HIGH
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