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Weekly MCX News letter by TheEquicom 20-Jan-14


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Weekly MCX News letter by TheEquicom 20-Jan-14

  1. 1. 20th TO 25th JAN.’2014 +919200009266
  2. 2. BULLION With the US adding just 16200 jobs in the nonfarm sector, the futures of crude oil closed lower on the Nymex on Friday. The data stoked gold futures higher and pulled the commodity out of a distress position and helped it cross the $1300 mark. “Earlier this week we saw economic data that pointed towards a recovery, and that coupled with a strong dollar kept gold under pressure,” Tom Power, a senior commodity broker at R.J. O’Brien & Associates in Chicago said to Bloomberg. Gold had gone below the crucial support of $1300 following optimism about the US economy. Meanwhile data suggested that US unemployment rate touched 7.4% in July, according to US labor department. However, the data was not enough to propel crude oil futures further up even as some profit booking too took place. +919200009266
  3. 3. ENERGY Crude oil prices in the global market were seen trading positive on strong manufacturing data from Europe, the United States and China. Also, Middle East tensions, disruption to crude oil production in Africa and maintenance activity in the North Sea were seen supporting the crude oil prices to certain extent. Concerns over supply disruptions in Iraq, Libya and Nigeria were also supported the prices. Brent crude oil futures traded above $110 per barrel while US crude oil futures crossed $108 per barrel on Friday. US crude oil futures for September delivery on NYMEX were seen trading down by 0.19% at $107.54 per barrel as of 05.41 PM IST on Friday. Meanwhile, the UK Market/CIPS Purchasing Managers’ Index (PMI) for the construction sector offers new hope that the UK economy is improving. UK recorded a strongest construction output growth since June 2010, led by surge in housing activity. +919200009266
  4. 4. BASEMETAL The trend in copper futures for August delivery on India's Multi Commodity Exchange (MCX) is bullish and expected to trade with the trend for the day, according to our analyst at Commodity Online. “For intra-day, support for the commodity is seen at 425.05 and 422.25 levels while resistance is seen at 432.65 and 434.35 levels,” said John Godson, Technical Analyst at Commodity Online. MCX copper futures for August delivery were seen trading up by 1.14% at Rs.430.50 per kilogram as of 16.38 IST on Friday. Copper futures on Comex edged up on Friday and is seen trading bullish supported by firm global cues. Copper futures for September delivery on Globex platform of Comex was seen trading up by 0.63% at $ 3.185 per pound as of 04.51 PM IST on Friday. On Friday, copper touched to its peak level in more than a week as data releases from the United States, Europe and China shown a positive review on their respective economies. +919200009266
  5. 5. GOLD (5 FEB.) OUTLOOK: TREND : - CONSOLIDATE RESISTANCE : - 29700, 30000 SUPPORT : - 28850, 28350 STRATEGY : - BUY ON DIPS +919200009266
  6. 6. SILVER (5 MAR.) OUTLOOK: TREND : - CONSOLIDATE RESISTANCE : - 45700, 46400 SUPPORT : - 44500, 43800 STRATEGY : - BUY ON DIPS +919200009266
  7. 7. CRUDEOIL (19 FEB) OUTLOOK: TREND : - CONSOLIDATE RESISTANCE : - 5950, 6050 SUPPORT : - 5750, 5600 STRATEGY : - SELL ON HIGH +919200009266
  8. 8. COPPER (28 FEB.) OUTLOOK: TREND : - CONSOLIDATE RESISTANCE : - 465.00, 472.00 SUPPORT : - 452.00, 445.00 STRATEGY : - SELL ON HIGH +919200009266
  9. 9. GOLD SILVER COPPER CRUDE OIL NATURAL GAS PALLADIUM PLATINUM 1254.00 20.260 3.340 94.30 4.295 745.30 1451.00 +919200009266 USDINR EURUSD USDJPY USDCHF GBPUSD USDCAD 61.6725 01.3540 104.310 00.9100 01.6420 01.0962
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  13. 13. SCRIPT R3 R2 R1 P S1 S2 S3 GOLD 29900 29600 29450 29150 29000 28700 28500 SILVER 47000 46300 45700 45000 44400 43700 43150 CRUDEOIL 6150 6000 5950 5800 5750 5600 5550 COPPER 470.50 465.50 462 457.50 453.50 449 445.50 LEAD 144.50 140.50 138 134 131.50 127.50 125 ZINC 134.50 131.50 130 127.50 126 123.50 121.50 ALIMINUM 116 113 111.50 109 107.50 104.50 103 NICKEL 974 940.50 919.50 886 864.50 831 810 NATURAL GAS 302.50 289.50 278 265 253 240 228.50 +919200009266
  14. 14. 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. +919200009266