Daily mcx newsletter 03 july 2013

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Daily mcx newsletter 03 july 2013

  1. 1. www.TheEquicom.com +919200009266 03-JULY-2013 www.TheEquicom.com +919200009266 MCX NEWSLETTER- DAILY Daily MCX Newsletter 03-JULY-2013
  2. 2. www.TheEquicom.com +919200009266 MARKET WRAP GET FINANCIAL & INVESTMENT PLANNING ADVICE FROM US TO MANAGE YOUR MONEY WISELY.
  3. 3. www.TheEquicom.com +919200009266 BULLION Recent fall in gold and silver prices were the result of an over-reaction from bond markets to Fed comments and ultimately real interst rates will fall back from current levels, making the situation positive for precious metals in general, according to ETF Securities Ltd. In the near term, further declines in gold prices can't be ruled out but the fact that gold is trading 20% below its average marginal cost of production, silver 10%, and platinum 25% below marginal production costs, prices will have to move above these levels to support long term supply growth, according to ETF Securities Ltd. "With gold speculative shorts at all-time highs and market sentiment almost unanimously negative, we believe there is scope for a price reversal in the coming weeks and months. Silver should benefit from a gold price rebound. Platinum and palladium have been affected more by the recent liquidity squeeze and resultant growth fears in China. Again, we believe the sell-off is overdone. We expect China liquidity conditions will ease and growth fears will dissipate over the course of the year, removing this hindrance to platinum and palladium price performance." ETF Securities points out that all bull markets need a correction and the yellow metal has gone through a 12 year rally. But the price corrections have been excessive and has returned the have returned precious metals prices to attractive long-term accumulation levels. In the near-term it is difficult to see any immediate catalysts for a sustained rebound in the gold price. Gold will likely face headwinds as long as US interest rates continue to rise, inflation expectations continue to fall and the US dollar continues to strengthen. "However, we believe these are cyclical factors that are temporary." MARKET NEWS ENERGY The trend in crude oil futures for July delivery on India's Multi Commodity Exchange (MCX) looks sideways to bullish for the day and traders are advised to stay on buy side “For intra-day, support for the commodity is seen at 5830 while resistance is seen at 5870. If prices break the level of 5870 then the futures are expected to move towards 5900,” said Amrita Mashar, Research Analyst at Commodity Online. “Traders may take buy position above 5870 with the stop loss of 5850 for the target near 5900,” she added. MCX crude oil futures for July delivery was seen trading up by 0.70% at Rs.5869 per barrel as of 17.24 IST on Tuesday. Brent crude oil prices in the international market rose above $103 per barrel on Tuesday on concerns over Middle East political tensions. Brent crude oil futures for August delivery on NYMEX was seen trading up by 0.20% at $103.23 per barrel as of 17.35 IST on Tuesday. Persisting political tensions in Libya, Egypt have caused for temporary shut down of crude oil fields there by supporting the crude oil prices to certain extent. The crude oil prices were also supported by positive US Manufacturing data. On Monday, the Institute for Supply Management stated that its factory index rose to 50.9 in June, up from 49 recorded in the previous month. May's index was the lowest in four years. A reading above 50 signals growth and below the same shows contraction. BASE METAL Copper futures for August delivery on India's Multi Commodity Exchange (MCX) is positive and traders are advised to take long position for the day. “For intra-day, resistance for the commodity is seen at 420, if prices break the same then the next resistance level is seen at 424 level,” said Tarang Parmar, Research Analyst at Commodity Online. “Support for the futures is seen at 411 and 409 levels. Intra-day traders may take long position near 413 with the stop loss below 409 and can wait for the target at 419 level,” he added. Appreciation of Indian Rupee against US Dollar is expected to pressurise the base metal prices to certain extent during intra-day trade. MCX copper for August delivery was seen trading down by 0.29% at Rs.415.95 per kilogram as of 13.27 IST on Tuesday. The United States Census Bureau is scheduled to release its monthly data on Factory Orders at 19.30 IST today and traders may get trading clues for their trading from the data released. Also, the Federal Open Market Committee's (FOMC) permanent voting member (2009 - 2013) William C. Dudley's speech is expected at 22.00 IST today Concerns over economic recovery in China is putting pressure on the base metal movement in both domestic and international market to certain extent.
  4. 4. www.TheEquicom.com +919200009266 GOLD (5 AUGUST) OUTLOOK: TREND : -CONSOLIDATE RESISTANCE : - 26120, 26350 SUPPORT : - 25640, 25350 STRATEGY : - SELL ON HIGHS TECHNICAL VIEW SILVER (5 JULY) OUTLOOK: TREND : - CONSOLIDATE RESISTANCE : - 41150, 41600 SUPPORT : - 40100, 39300 STRATEGY : - SELL ON HIGHS BULLION
  5. 5. www.TheEquicom.com +919200009266 ENERGY CRUDEOIL (19 JULY) OUTLOOK: TREND : - BULLISH RESISTANCE : - 6000, 6050 SUPPORT : - 5900, 5840 STRATEGY : - BUY ON DIPS NATURAL GAS (26 JULY) OUTLOOK: TREND : - CONSOLIDATE RESISTANCE : - 220.00, 222.00 SUPPORT : - 215.00, 211.30 STRATEGY : - SELL ON HIGHS
  6. 6. www.TheEquicom.com +919200009266 BASE METAL COPPER (30 AUG.) OUTLOOK: TREND : - CONSOLIDATE RESISTANCE : - 420.00, 422.00 SUPPORT : - 414.00, 411.30 STRATEGY : - BUY ON DIPS LEAD (31 JULY) OUTLOOK: TREND : - CONSOLIDATE RESISTANCE : - 125.00, 125.80 SUPPORT : - 123.50, 121.50 STRATEGY : - BUY ON DIPS
  7. 7. www.TheEquicom.com +919200009266 ZINC (31 JULY) OUTLOOK: TREND : - CONSOLIDATE RESISTANCE : - 112.80, 113.50 SUPPORT : - 111.00, 110.00 STRATEGY : - BUY ON DIPS ALUMINUM (31 JULY) OUTLOOK: TREND : - CONSOLIDATE RESISTANCE : - 108.50, 109.00 SUPPORT : - 106.90, 105.50 STRATEGY : - BUY ON DIPS NICKEL (31 JULY) OUTLOOK: TREND : - CONSOLIDATE RESISTANCE : - 845.00, 855.00 SUPPORT : - 825.00, 810.00 STRATEGY : - BUY ON DIPS
  8. 8. www.TheEquicom.com +919200009266 GOLD 1245.60 SILVER 19.4550 COPPER 03.1430 CRUDE OIL 101.7500 NATURAL GAS 03.639 PALLADIUM 684.40 PLATINUM 1368.00 USDINR 59.5400 EURUSD 01.2972 USDJPY 100.5300 USDCHF 00.9512 GBPUSD 01.5149 USDCAD 01.0539 INTERNATIONAL MARKET
  9. 9. www.TheEquicom.com +919200009266 ECONOMIC CALANDER
  10. 10. www.TheEquicom.com +919200009266 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.

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