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Daily mcx newsletter 31 jan
- 1. DAILY MCX NEWSLETTER 31 - JAN.-2014 www.TheEquicom.com 0731-6770000 1
- 2. BULLION: US Gold futures is slightly up at $1265.2 per ounce in electronic trading on Thursday while Silver for March delivery is up at $19.57 per ounce while WTI crude oil is quite positive at $97 per barrel. US crude oil has been negatively impacted by US Energy Administration Data which showed that US crude oil inventories rose by 6.4 mn barrels in the week ended January 24, far beyond the expectations of increase of 2.3 mn. BASE METAL: "Tightenting supply of base metals, together with positive demand trends emerging from US Fed Reserve's outlook on US economy augurs well for those commodities having industrial applications," according to Sreekumar Raghavan, Chief Strategist at Commodity Online Group. Gold's recent gains may not be sustained above $1280 per ounce levels as technically it faces resistance near $1290, 1300 levels, he added. Weakness in China economy as reflected in recent PMI is continuing to put some downward pressure on metals, energy sectors. ENERGY: Extreme cold weather in USA pushed US natural gas futures to a whopping 27% increase in prices in January to $5.325 per MMBTU while at India's Multi Commodity Exchange, natural gas for February delivery rose from a low of Rs 245.70 per MMBTU to Rs 328.10 per MMBTU. Unusually cold weather has caused huge drawdowns on gas storage. Gas stockpiles were seen at 2.423 trillion cubic feet as of January 17, 13.2% below the five year averae and 19.8% less than yearago supplies, according to Energy Information Administration data. US Gold futures for February delivery is down to $1255 an ounce. as announcement of further tapering measures by US Federal Reserve weakened the demand for safe haven assets. US Silver for March delivery has dropeed to $19.385 per ounce. www.TheEquicom.com 0731-6770000 2
- 3. BULLION GOLD (5 FEB.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 29530, 29730 : - 29200, 29000 : - SELL ON HIGH SILVER (5 MAR.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 43550, 44000 : - 43000, 42750 : - SELL ON HIGH www.TheEquicom.com 0731-6770000 3
- 4. ENERGY CRUDEOIL (19 FEB.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 6200, 6250 : - 6100, 6050 : - BUY ON DIPS NATURAL GAS (25 FEB.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY : - BULLISH : - 324.00, 330.00 : - 315.00, 310.00 : - BUY ON DIPS www.TheEquicom.com 0731-6770000 4
- 5. BASE METAL COPPER (28 FEB.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 450.50, 453.00 : - 446.00, 442.00 : - SELL ON HIGH LEAD (28 FEB.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 133.50, 134.50 : - 132.00, 131.00 : - SELL ON HIGH www.TheEquicom.com 0731-6770000 5
- 6. ZINC (28 FEB.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 125.00, 126.00 : - 126.60, 125.50 : - SELL ON HIGH ALUMINUM (28 FEB.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 108.00, 109.00 : - 106.70, 105.50 : - SELL ON HIGH NICKEL (28 FEB.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 875.00, 890.00 : - 860.00, 850.00 : - SELL ON HIGH www.TheEquicom.com 0731-6770000 6
- 9. 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 and 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. www.TheEquicom.com 0731-6770000 9