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DAILY MCX NEWSLETTER NOV.. -2013 26-NOV

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

India gold futures edged down on Monday

China copper market remains buoyant due

US crude oil futures began its week on a

tracking bearish international cues, positive

to a combinatin of scrap shortage and stock

negative note on Monday. The futures fell after

Asian equities, and firm Dollar. Continuing

building,according to Barclays Research.

Iran and six world powers reached an

outflows from exchange-traded funds and

China copper demand appears very positive

agreement, which eased concerns over crude

concerns that US central bank may start

in 2013 and more traders want to book

oil supply in the global market on Sunday.

withdrawing its monetary stimulus soon were

higher contract tonnages in 2014 thanks to

WTI crude oil futures for January delivery on

seen putting pressure on the yellow metal

increased import financing. Refined copper

NYMEX was seen trading with a loss of $0.11 at

prices in the global futures markets.

production is also expected to show strong

$94.28 per barrel as of 09.34 IST on Tuesday.

Average and marginal gold cash costs have

growth.

Tracking weak international cues, crude oil

gone down in the third quarter of 2013 as a

China stock build up is also a driver of

futures on India's Multi Commodity Exchange

result of industry-wide moves to cut costs. A

copper demand. Estimates range from 100-

(MCX) edged down on Monday and was trading

decline in average cash costs indicate the

300 kt. " We believe the build has occured in

bearish. MCX crude oil for December delivery

progress of gold producers and is necessary in

both unreported stocks held by traders and a

closed with a loss of 1.51% at Rs.5894 per

a lower price environment, said London based

one-off working inventory pipeline fill.

barrel as on Monday.

Barclays in recent report.

Barclays team who visited China

MCX crude oil for December delivery is expected

understands that "substitution out of scrap

to witness buying near the support level of

and into cathode has had a bigger impact on

5840 on Tuesday. Resistance for the commodity

demand than we had previously factored in.

is seen at 5950 and 6000 levels. Traders are

Scrap supply has been very tight this year,

advised to sell at higher levels for the day

especially in China where imports have shrunk 10% y/y YTD. Subsequently semis producers have been using more cathode and less scrap in their raw material mix," according to Barclays.

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BULLION GOLD (5 DEC.)

OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY

: -CONSOLIDATE : - 30400, 30550 : - 29800, 29600 : - SELL ON HIGH

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

www.TheEquicom.com +919200009266

: - CONSOLIDATE : - 44900, 45400 : - 43950, 43600 : - SELL ON HIGH HIGH


ENERGY CRUDEOIL (18 DEC.)

OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY

: - CONSOLIDATE : - 5950, 6000 : - 5850, 5770 : - SELL ON HIGH

NATURAL GAS (25 NOV.)

OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY

www.TheEquicom.com +919200009266

: - BULLISH : - 240.00, 244.50 : - 232.00, 229.00 : - BUY ON DIPS


BASE METAL

COPPER (29 NOV.)

OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY

: - CONSOLIDATE : -446.50, 450.00 : - 441.00, 436.00 : - SELL ON HIGH

LEAD (29 NOV.)

OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY

www.TheEquicom.com +919200009266

: - CONSOLIDATE : - 131.00, 132.30 : - 128.00, 127.00 : - SELL ON HIGH


ZINC (29 NOV.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY

: - CONSOLIDATE : - 118.80, 120.00 : - 115.70, 114.50 : - SELL ON HIGH

ALUMINUM (29 NOV.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY

: - CONSOLIDATE : - 109.50, 110.50 : - 107.00, 106.00 : - SELL ON HIGH

NICKEL (29 NOV.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY

www.TheEquicom.com +919200009266

: - CONSOLIDATE : - 850.00, 856.00 : - 836.00, 830.00 : - SELL ON HIGH


GOLD SILVER COPPER CRUDE OIL NATURAL GAS PALLADIUM PLATINUM

1251.88 20.165 03.215 94.28 03.863 720.60 1386.00

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USDINR EURUSD USDJPY USDCHF GBPUSD USDCAD

62.4600 01.3528 101.517 00.9111 01.6151 01.0535


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MCX Commodity Market Updates 26-November  

India gold futures edged down on Monday tracking bearish international cues, positive Asian equities, and firm Dollar. Its a better way to t...

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