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Weekly MCX Newsletter 14TH OCT TO 19TH OCT’2013

Weekly MCX Report 14TH to 19TH OCT’ 2013 20JULY’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 DEC): OUTLOOK: TREND

: - BEARISH

RESISTANCE : - 29250, 29750 SUPPORT

: - 28000, 27500

STRATEGY

: - SELL ON HIGHS

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BULLION SILVER (05 DEC.): OUTLOOK: TREND

: - BEARISH

RESISTANCE : - 49000, 50100 SUPPORT

: - 45900, 45000

STRATEGY

: - SELL ON HIGHS

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ENERGY

CRUDEOIL (21 OCT): OUTLOOK: TREND

: - BEARISH

RESISTANCE : - 6400, 6530 SUPPORT

: - 6150, 5960

STRATEGY

: - SELL ON HIGHS

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BASE METAL COPPER (29 NOV) OUTLOOK: TREND

: - BEARISH

RESISTANCE : - 459.40, 463.30 SUPPORT

: - 447.90, 442

STRATEGY

: - SELL ON HIGHS

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INTERNATIONAL MARKET

GOLD SILVER COPPER CRUDE OIL NATURAL GAS PALLADIUM PLATINUM

1270.85 21.294 3.269 103.61 3. 780 710.80 1370.90

ECONOMIC CALANDER www.TheEquicom.com +919200009266

USDINR EURUSD USDJPY USDCHF GBPUSD USDCAD

61.0100 01.3553 98.4800 00.9114 01.5959 01.0344


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PIVOT TABLE

SCRIPT

R3

R2

R1

P

S1

S2

S3

GOLD

30730

30340

29300

28810

27875

27380

26445

SILVER

52530

51320

49100

47900

45685

44480

42260

CRUDEOIL

6690

6580

6390

6280

6100

5985

5800

COPPER

476.10

467.75

456.75

448.40

437.40

429.05

418.05

LEAD

136

133.50

130.70

128.20

125.40

122.90

120.10

ZINC

120.25

118.65

117.10

115.50

113.95

112.35

110.80

ALIMINUM

118.25

116.65

114.95

113.35

111.70

110.05

108.40

NICKEL

896.45

883.20

867.05

853.80

837.65

824.40

808.25

NATURAL GAS

253.90

243.85

237.40

227.35

220.90

210.85

204.40

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Disclaimer

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Weekly mcx newsletter 14 oct 2013