DAILY MCX NEWSLETTER
19-NOV. -2013
THE EQUICOM PROFIT UPDATE: PLEASE CLOSE YOUR POSITION IN COPPER, , OUR SL TRIGGERED [Link] 09200009266
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BULLION
BASE METAL
ENERGY
Financial markets are the foundations of the globalized economy. Realistic and fundamental data and growth figures should guide the global economy. But in the last few years, we are witnessing something very funny: markets are moved by the daily statements from Federal Reserve Chairman to a whole lot of continental and regional financial regulators or central bankers. So we have the fluid situation of global equity and commodity markets caught in a web of daily statements. And one commodity that moves up and down on the daily statements from America to India is gold.
A decline in Chinese grid spending is expected to weigh on copper prices in the global market. China power grid investment fell again in October, by 14% year year-on-year basis, the second straight monthly fall. We expect continued moderation as the gridcos bring full full-year investment in line with their initial targets, which could weigh on copper demand in coming months, said London based Barclays in an e e-mailed report. Grid inv investment reached 41 bn RMB in October, up seasonally from September levels but down 14% year year-on-year basis (y/y). This brings YTD grid spending to 296bn RMB, 6.4% higher y/y. YTD growth has fallen consistently from 44% in the first two months of the year to 11% in September and now 6.4%.
Crude oil prices in the global market remained weak on Monday and were almost steady as a result due to weak international cues. Recent comments from US Federal Reserve Chairman nominee Janet Yellen may have supported the commodity prices. A statement from US official that an understanding to curb Iran's nuclear program is possible later this week, may have put pressure on the prices. Any positive agreement between the two countries could lift sanctions against Iran and as a result of that, Iranian crude oil is expected flow into the market. India crude oil prices edged down on Monday tracking bearish international sentiments. The commodity is expected to trade negative during intra-day day trade amid am appreciation of Indian Rupee (INR) against US Dollar (USD).
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BULLION
GOLD (5 DEC.)
OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : -CONSOLIDATE CONSOLIDATE : - 30 0500, 30750 : - 30050, 300 29800 : - SELL ON HIGH
SILVER (5 DEC.)
OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 4700 7000, 47500 : - 4500 5000, 44750 : - SELL ON HIGH HIGH
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ENERGY
CRUDEOIL ( (18 DEC.)
OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 5930, 5980 : - 5800, 57300 : - SELL ON HIGH
NATURAL GAS (2 (25 NOV.)
OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 232 2.00, 235.50 : - 226 6.00, 222.50 : - BUY ON DIPS
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BASE METAL
COPPER ( (29 NOV.)
OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : -438.00 0, 442.00 : - 429.50 0, 423.50 : - SELL ON HIGH
LEAD ( (29 NOV.)
OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 129 29.50, 131.00 : - 127 27.50, 126.00 : - SELL ON HIGH
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ZINC ( (29 NOV.)
OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 116.70, , 117.50 : - 114.50, , 113.00 : - SELL ON HIGH
ALUMINUM ( (29 NOV.)
OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 109.70, 1 111.00 : - 108.00, 1 107.00 : - SELL ON HIGH
NICKEL ( (29 NOV.)
OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 857.00, 8 866.00 : - 836.00, 8 830.00 : - SELL ON HIGH
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GOLD SILVER COPPER CRUDE OIL NATURAL GAS PALLADIUM PLATINUM
1273.71 20.253 03.133 93.51 03.613 13 712.60 0 1409.10 0
USDINR EURUSD USDJPY USDCHF GBPUSD USDCAD
62.3875 01.3507 99.8200 00.9124 01.6100 01.0434
[Link] +919200009266
[Link] +919200009266
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