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DAILY MCX NEWSLETTER DEC.. -2013 12-DEC

THE EQUICOM PROFIT UPDATE: PLEASE CLOSE YOUR POSITION IN COPPER, OUR SL TRIGGERED www.TheEquicom.com 09200009266

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BULLION

BASE METAL

ENERGY

CME Group report said unfortunately gold

India lead futures edged up on Thursday on

India government may not implement a steep

managed the rally recently off anemic volume

short covering amid depreciation of Indian

hike in diesel prices although state elections

and a decline in open interest and therefore

Rupee (INR) against US Dollar (USD). The

are over. According to India Ratings (Ind-Ra)

some might suggest that gains were short

commodity is expected to trade with a

one time hike in prices can reduce under

covering. However, with the last COT report

positive bias during intra-day trade.

recoveries. The quantum of gross under

positioning placing the gold market net spec

INR was seen touching 61.85 against USD, a

recoveries (GUR) are guided by USD/INR and

long 48,522 contracts as of last week, it is

apreciation of 0.61% as of 9.30 IST on

global oil prices.

debatable just how many players were caught

Thursday.

Rupee remains vulnerable due to uncertain

short. On the other hand, gold might have

MCX nickel for October delivery was seen

macro-economic environment. Iran nuclear

rallied off a fresh downside breakout in the

trading on a positive note and is expected to

deal did help in cooling down the market but

Dollar, especially since the Dollar has seen a

continue with the trend for the day.

bullishness could emerging on increased

series of declines in the face of good numbers and perhaps even hints of a looming budget deal.

energy demand for heating in winter months. Diesel gross under recoveries touched Rs 14.5 litre in mid-September on weak Rupee after

Indian demand continues to be muted on higher prices and import curbs despite the wedding season- a seasonally strong period for gold. At India's Multi Commodity Exchange (MCX), gold for February delviery was up 0.17% to Rs 29586 per 10 gms. Gold futures have steadily risen from the beginning of this month at 28829 to 29500 levels but still short of the 30,000 mark.

decreasing to Rs 3.5 lt in May. Rating impact: Despite increasing GUR, Ind-Ra’s ratings on OMCs are likely to remain unchanged as they are based on the strategic importance of the sector to the sovereign. There is a strong likelihood of government support if required, unless there is any perceived weakening of linkages, possibly due to a significant increase in the proportion of GUR they are forced to bear.

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BULLION GOLD (5 FEB.)

OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY

: -CONSOLIDATE : - 29650, 29800 : - 29200, 28900 : - BUY ON DIPS

SILVER (5 MAR.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY

www.TheEquicom.com +919200009266

: - CONSOLIDATE : - 46250, 46500 : - 45200, 44700 : - BUY ON DIPS HIGH


ENERGY CRUDEOIL (18 DEC.)

OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY

: - CONSOLIDATE : - 6060, 6100 : - 5970, 5930 : - BUY ON DIPS

NATURAL GAS (26 DEC.)

OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY

www.TheEquicom.com +919200009266

: -BULLISH : - 270.50, 274.00 : - 259.50, 256 00 : - BUY ON DIPS


BASE METAL

COPPER (28 FEB.)

OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY

: - CONSOLIDATE : -458.00, 462.00 : - 450.50, 447.50 : - BUY ON DIPS

LEAD (31 DEC.)

OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY

www.TheEquicom.com +919200009266

: - CONSOLIDATE : - 133.00, 134.50 : - 129.50, 130.50 : - BUY ON DIPS


ZINC (31 DEC.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY

: - CONSOLIDATE : - 122.50, 123.50 : - 119.50, 118.00 : - BUY ON DIPS

ALUMINUM (31 DEC.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY

: - CONSOLIDATE : - 111.50, 112.50 : - 109.00, 108.00 : - BUY ON DIPS

NICKEL (31 DEC.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY

www.TheEquicom.com +919200009266

: - CONSOLIDATE : - 872.00, 877.00 : - 858.00, 852.50 : - BUY ON DIPS


GOLD SILVER COPPER CRUDE OIL NATURAL GAS PALLADIUM PLATINUM

1254.69 20.290 03.290 98.34 04.343 735.50 1386.00

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USDINR EURUSD USDJPY USDCHF GBPUSD USDCAD

61.8725 01.3793 102.557 00.8867 01.6361 01.0589


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MCX Commodity Market Updates By Theequicom 12-December  

CME Group report said unfortunately gold managed the rally recently off anemic volume and a decline in open interest and therefore some migh...

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