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Weekly mcx newsletter 15 july 2013


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Weekly mcx newsletter 15 july 2013

  1. 1. +919200009266 Weekly MCX Newsletter 15th TO20th JULY’2013 Weekly MCX Report 15th to 20th JULY’2013 +919200009266
  3. 3. +919200009266 BULLION: If the survey results of Bloomberg are anything to go by, gold futures are poised to climb next week. Nineteen analysts surveyed by Bloomberg think that gold futures may rise next week even as nine analysts were bearish and three neutral. Gold as of last quarter has lost 23% y/y and witnessed acceleration in declines as US Federal Reserve Chairman Ben Bernanke hinted that the Quantitative Easing measures announced by Fed would see a tapering starting second half of this year. However, this week the Federal Open Market Committee minutes for June released has showed a bias towards continuing with QE measures. Ben Bernanke himself said that the monetary policy would remain accommodative for the foreseeable time as the revival in economy is fragile. This created a rally in futures as prices breached the $1280 mark, an area of significant resistance. “With the Fed comments, with the increased cost of funding a short position and some recalibration in peoples’ thinking about the end of quantitative easing, the onus is really on the bears now,” said Ross Norman, chief executive officer of Sharps Pixley Ltd to Bloomberg. "This is just a temporary measure, but if we don't follow through with this, there may be a situation when jewellers don't have any gold to sell. The government and the Reserve Bank of India have already restricted gold imports," said Vikas Chudasama, director general, All India Gems and Jewellery Trade Federation to the Indian Express. June imports of Gold have dipped to a paltry 28 tons when compared to 162 tons in May. Data says that imports of gold to Gujarat, a major consuming centre, dipped to 3.73 tons in June against the 37.61 tons registered in May as per the air cargo complex data.
  4. 4. +919200009266 ENERGY: BASE METAL: Crude oil prices in the global market were seen trading up on hopes that US Federal Reserve may keep pumping money into the economy. The Central Bank chairman recently hinted that the bank would continue with its existing monetary stimulus. Global crude oil supply fell by 0.3 mn barrels per day to 91.2 mn barrels per day in June month-on-month basis on lower production, according to a release by the International Energy Agency (IEA). Global crude oil demand is forecast to grow by 1.2 mn barrel per day (mb/d) in 2014, following upwardly-revised growth of 930 kb/d in 2013. Unseasonably cold weather in the OECD helped to raise the estimates for 2Q13 and full year 2013 by 645 kb/d and 215 kb/d, respectively. Non-OPEC supply is forecast to increase by 1.3 mn barrels per day in 2014, higher than an upwardly revised 1.2 mn barrels per day for 2013. The University of Michigan Consumer Sentiment Index and Inflation Expectations Index are scheduled to be released at 07.25 PM IST on Friday. In the United States, in the week ending July 6, the advance figure for seasonally adjusted initial claims was 360,000, an increase of 16,000 from the previous week's revised figure of 344,000. The 4-week moving average was 351,750, an increase of 6,000 from the previous week's revised average of 345,750, according to the data released by the Department of Labor on Thursday. Also, the advance number of actual initial claims under state programs, unadjusted, totalled 384,829 in the week ending July 6, an increase of 49,778 from the previous week. There were 442,192 initial claims in the comparable week in 2012.
  5. 5. +919200009266 GOLD (5 AUG.): OUTLOOK: TREND : - CONSOLIDATE RESISTANCE : - 27050, 27450 SUPPORT : - 25950, 25550 STRATEGY : - BUY ON DIPS TECHNICAL VIEW BULLION
  6. 6. +919200009266 SILVER (05 SEP.): OUTLOOK: TREND : - CONSOLIDATE RESISTANCE : - 41600, 43800 SUPPORT : - 39000, 38600 STRATEGY : - SELL ON HIGHS
  7. 7. +919200009266 CRUDEOIL (19 JULY): OUTLOOK: TREND : - BULLISH RESISTANCE : - 6440, 6600 SUPPORT : - 6060, 5940 STRATEGY : - BUY ON DIPS ENERGY
  8. 8. +919200009266 COPPER (30 AUG.) OUTLOOK: TREND : - CONSOLIDATE RESISTANCE : - 430.00, 442.00 SUPPORT : - 404.50, 392.50 STRATEGY : - SELL ON HIGHS BASE METAL
  9. 9. +919200009266 GOLD 1284.64 SILVER 19.904 COPPER 3.152 CRUDE OIL 106.00 NATURAL GAS 3.636 PALLADIUM 720.50 PLATINUM 1406.50 USDINR 59.5810 EURUSD 01.3061 USDJPY 99.3800 USDCHF 00.9467 GBPUSD 01.4900 USDCAD 01.5103 INTERNATIONAL MARKET
  10. 10. +919200009266 ECONOMIC CALANDER
  11. 11. +919200009266
  12. 12. +919200009266 SCRIPT R3 R2 R1 P S1 S2 S3 GOLD 28058 27458 27087 26487 26116 25516 25145 SILVER 44309 43128 42291 41110 40273 39092 38255 CRUDEOIL 6730 6574 6467 6311 6204 6048 5941 COPPER 448.60 436.90 428.35 416.70 408.10 396.40 387.90 LEAD 131.20 128.70 126.30 123.80 121.40 118.90 116.50 ZINC 118.05 116.05 114.40 112.35 110.70 108.65 107.00 ALIMINUM 113.70 111.45 110.05 107.80 106.40 104.15 102.75 NICKEL 865.95 847.00 835.05 816.05 804.15 785.15 773.25 NATURAL GAS 240.80 234.85 226.90 220.95 213.00 207.05 199.05 PIVOT TABLE
  13. 13. +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.