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Weekly MCX Newsletter 02ND TO 07TH SEP’2013

Weekly MCX Report 02ND to 07TH SEP’2013

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MARKET WRAP

GOLD

SILVER

CRUDEOIL

NATURAL GAS

COPPER LEAD

NICKEL ZINC

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ALUMINUM


BULLION: Gold futures tumbled as European Central Bank President Mario Draghi said that interest rates will remain low or go lower "for an extended period of time�. Weakness in Euro set further pressure on gold prices. The European Central Bank held its benchmark interest rate at a record low in July, in a bid to boost wavering growth in the region, it announced on Thursday. The ECB said it was maintaining its benchmark interest rate at a record low 0.5%, in line with market expectations. U.S dollar index quoted affirmative at 83.89 with gain of 0.81%. High demand from oil importers and Bankers kept dollar in positive territory. Gold had lost 23 percent in the April-June period on reports that U.S. Federal Reserve's monetary policy could end soon. Hence it supported a rise in interest rates, making gold less attractive. Asian stocks traded broadly higher Friday ahead of the June non-farm payroll report due out before the start of U.S. trading Friday, impacted gold futures. Release on U.S Unemployment Rate and Nonfarm Payrolls data may put further pressure on gold.

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ENERGY: The coal industry in the US may be upset with the President Barack Obama’s plan to deal withthe climate change, but for crude oil, it’s a blessing in disguise. The Obama administration has been pushing to fight global warming and one of the modes is to control the carbon emissions by the coal-fired plants. At the core of his plan are controls on power plants that emit carbon dioxide — heat-trapping gases blamed for global warming. The move has not gone down well with the stakeholders of the coal industry. The plan has triggered wide spread condemnation from the U.S. coal industry across the industrial Midwest, where state and local economies depend on the health of an energy sector facing strict new pollution limits. BASE METAL: Copper futures for August delivery on India's Multi Commodity Exchange (MCX) is negative and the commodity is expected to continue with the trend for the week. However, the futures may witness buying support near 404 level. For intra-day, support for the base metal is seen at 415 while resistance is seen at 419 and 422 levels. Traders are advised to take sell position near 414.00 with the stop loss of 419 for the target of 410.

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TECHNICAL VIEW

BULLION GOLD (5 OCT): OUTLOOK: TREND

: - CONSOLIDATE

RESISTANCE : - 35070, 35700 SUPPORT

: - 30900, 29000

STRATEGY

: - SELL ON HIGHS

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BULLION SILVER (05 SEP.): OUTLOOK: TREND

: - CONSOLIDATE

RESISTANCE : - 58000, 60000 SUPPORT

: - 50950, 48400

STRATEGY

: - SELL ON HIGHS

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ENERGY CRUDEOIL (19 SEP): OUTLOOK: TREND

: - CONSOLIDATE

RESISTANCE : - 7800, 8500 SUPPORT

: - 6630, 6180

STRATEGY

: - SELL ON HIGHS

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BASE METAL COPPER (30 AUG.) OUTLOOK: TREND

: - CONSOLIDATE

RESISTANCE : - 500, 512.65 SUPPORT

: - 467.70, 455

STRATEGY

: - SELL ON HIGHS

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INTERNATIONAL MARKET

GOLD SILVER COPPER CRUDE OIL NATURAL GAS PALLADIUM PLATINUM

1394.60 23.482 3.235 107.58 3. 602 720.05 1521.50

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USDINR EURUSD USDJPY USDCHF GBPUSD USDCAD

67.7000 01.3208 98.1700 00.9308 01.5495 01.0531


ECONOMIC CALANDER

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PIVOT TABLE

SCRIPT

R3

R2

R1

P

S1

S2

S3

GOLD

38175

36625

34790

33235

31400

29850

28010

SILVER

64480

62210

57670

55400

50860

48590

44050

CRUDEOIL

8670

8225

7220

7275

6775

6325

5820

COPPER

554.30

533.45

509.30

488.50

464.35

443.55

419.40

LEAD

167.20

161.30

152.05

146.15

136.90

131.00

121.75

ZINC

147.20

142.05

133.85

128.70

120.50

115.35

107.15

ALIMINUM

140.40

135.20

127.55

122.35

114.70

109.50

101.85

NICKEL

1072.85

1038.80

980.85

946.80

888.85

854.80

796.85

NATURAL GAS

285.45

269.70

255.05

239.30

224.65

208.90

194.25

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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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Weekly mcx newsletter 02 sep 2013  

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