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Daily mcx newsletter 04 july 2013

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Daily mcx newsletter 04 july 2013

  1. 1. www.TheEquicom.com +919200009266 04-JULY-2013 www.TheEquicom.com +919200009266 MCX NEWSLETTER- DAILY Daily MCX Newsletter 04-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 The trend in silver futures for September delivery on India's Multi Commodity Exchange (MCX) is bullish. “For intra-day, support for the commodity is seen at 40940 and 40810 levels while resistance is seen at 41830 and 41999 levels,” said John Godson, Technical Analyst at Commodity Online. “The commodity is expected to witness selling sentiments in the range between 41600 to 41700,” he noted. MCX silver futures for September delivery was seen trading up by 2.61% at Rs. 41550 per kilogram as of 06.21 PM IST on Wednesday. Silver prices in the global market rose as European stocks declined. However, steady US Dollar and concerns over US Federal Reserve's monetary stimulus kept pressuring on the white metal movement to certain extent. 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. MARKET NEWS ENERGY The trend in crude oil futures for July delivery on India's Multi Commodity Exchange (MCX) looks bullish for the day and traders are advised to stay on buy side. “For intra-day, support for the commodity is seen at 6050 while resistance is seen at 6150.” “Traders may take buy position above 6070 with the stop loss of 6050 for the target near 6130 and above that 6150”. MCX crude oil futures for July delivery was seen trading up by 03.14% at Rs. 6115 per barrel as of 05.26 PM IST on Wednesday. US Energy Information Administration (EIA) is scheduled to release its weekly crude oil inventory data at 08.00 PM IST today and the commodity may change its direction after the data release. On Wednesday, crude oil prices in the global market recorded an up-tick on a decline in US crude oil stock-piles followed by political unrest in the Middle East. Crude oil prices were supported by the concerns that the political unrest in Syria and Egypt may spread to the other countries in the Middle East, there by destabilising the crude oil supply from the region. Political turmoil in Egypt has seen to it that WTI crude oil futures have crossed the psychologically important mark of $100/bbl. Protesters assembled at the legendary Tahrir Square are demanding that Egyptian President Morsi resign even as the army there has served an ultimatum asking him to step down by Wednesday maximum. Also, the data from American Petroleum Institute stated that the US crude oil inventories dropped by 9.4 mn barrels for the week through June 28. BASE METAL The industrial metals have exhibited subdued sentiment over the past several trading sessions. Copper, which was expected to hover in the range of $ 3.25-3.5 per pound has been struggling hard to keep its $3 levels. However, with supply concerns gripping the international traders, copper prices recovered a bit and traded above $ 3.14 in the futures trade on Comex in New York on Wednesday. In this interview with The Gold Report Stefan Ioannou of Haywood Securities maintained that happened on the back of Federal Reserve Chairman Ben Bernanke's hints that quantitative easing in the United States may end in mid-2014, raising concerns that U.S. demand for raw goods will decline. Because copper goes into a lot of raw goods, that supposes less demand. Also, China being the largest consumer, has indicated sings of slowdown in industrial production. In addition, copper inventories are well over 600,000 tons, which is high on a historic basis. China’s manufacturing numbers are weakening, which may create stockpiles of copper, thereby further pressurizing the prices. People are worried that China, which really drives a lot of the metal stories, is not growing as fast as expected. Haywood Securities had forecast a copper price above $3.60/pound ($3.60/lb) for the remainder of 2013. Six months later, copper is struggling to remain above $3/lb. The analyst firm, in early June lowered copper's average price for 2013 to $3.35/lb. Year to date, the average copper price is $3.43/lb.
  4. 4. www.TheEquicom.com +919200009266 GOLD (5 AUGUST) OUTLOOK: TREND : -CONSOLIDATE RESISTANCE : - 26460, 26800 SUPPORT : - 25900, 25550 STRATEGY : - BUY ON DIPS TECHNICAL VIEW SILVER (5 JULY) OUTLOOK: TREND : - CONSOLIDATE RESISTANCE : - 42000, 42300 SUPPORT : - 41080, 40300 STRATEGY : - BUY ON DIPS BULLION
  5. 5. www.TheEquicom.com +919200009266 ENERGY CRUDEOIL (19 JULY) OUTLOOK: TREND : - BULLISH RESISTANCE : - 6200, 6250 SUPPORT : - 6110, 6070 STRATEGY : - BUY ON DIPS NATURAL GAS (26 JULY) OUTLOOK: TREND : - CONSOLIDATE RESISTANCE : - 222.00, 225.00 SUPPORT : - 218.00, 215.00 STRATEGY : - SELL ON HIGHS
  6. 6. www.TheEquicom.com +919200009266 BASE METAL COPPER (30 AUG.) OUTLOOK: TREND : - BULLISH RESISTANCE : - 426.90, 428.00 SUPPORT : - 423.30, 420.20 STRATEGY : - BUY ON DIPS LEAD (31 JULY) OUTLOOK: TREND : - CONSOLIDATE RESISTANCE : - 126.10, 127.50 SUPPORT : - 123.70, 121.50 STRATEGY : - BUY ON DIPS
  7. 7. www.TheEquicom.com +919200009266 ZINC (31 JULY) OUTLOOK: TREND : - CONSOLIDATE RESISTANCE : - 113.10, 114.00 SUPPORT : - 111.80, 110.90 STRATEGY : - BUY ON DIPS ALUMINUM (31 JULY) OUTLOOK: TREND : - CONSOLIDATE RESISTANCE : - 108.50, 109.40 SUPPORT : - 106.70, 105.50 STRATEGY : - BUY ON DIPS NICKEL (31 JULY) OUTLOOK: TREND : - CONSOLIDATE RESISTANCE : - 855.00, 862.00 SUPPORT : - 825.00, 815.00 STRATEGY : - BUY ON DIPS
  8. 8. www.TheEquicom.com +919200009266 GOLD 1255.25 SILVER 19.6900 COPPER 03.1610 CRUDE OIL 101.24 NATURAL GAS 03.681 PALLADIUM 686.30 PLATINUM 1359.00 USDINR 60.2110 EURUSD 01.2998 USDJPY 99.8400 USDCHF 00.9474 GBPUSD 01.5265 USDCAD 01.0508 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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