Share Tips Expert Commodity Report 12042011

8/6/2019 Share Tips Expert Commodity Report 12042011

1/8

Daily Commodity Market Update as on Tuesday, April 12, 2011

PRECIOUS METALS COMPLEX

NAME OPEN HIGH LOW CLOSE % CNG

GOLD 21390 21429 21337 21373 -0.18

SILVER 60650 61466 59765 60000 -0.8

GOLD 1462.3 1463.9 1453.75 1454.8 -0.51

SILVER 40.17 40.4 39.87 39.97 -0.42

PLATINUM 1784.49 1773.5 1767.75 1773.24 -0.73

Bullion was under heavy pressure after Goldman claimed

there was a strong chance that commodities prices might

reverse and recommended clients take profits on what

has been a hugely profitable trade.SPOT $

MCX


CRUDE 5021 5021 4864 4898 -2.69

N.GAS 178.3 185 178 183.2 2.89

Crude oil fell in a selloff triggered by a Goldman Sachs

note to clients that they take profits after an extended

rally. Natural gas ended higher backed by cooler weather

forecasts and technical buying after a six-day slide

MCX

ENERGY COMPLEX

CRUDE 113.28 113.46 108.88 109.92 -2.966102


-

despite still-high supplies.

BASEMETAL COMPLEX

'

MCX

. . . - .

ZINC 113.25 113.25 111.3 111.8 -1.43

NICKEL 1232.9 1241.7 1215.3 1232.4 -0.09

LEAD 129.9 130.85 128.05 128.25 -2.81

ALUMINIUM 119.7 120 118.15 118.4 -1.35

COPPER 9805 9842.75 9766 9778.75 -0.5 1525

ZINC 2520 2525 2505 2510 -0.71 -300

COPPER

ZINC

445700

735675

Base meta en e wea yester ay a ecte y Japan s

fresh aftershock, the mild growth of the US dollar, and

lackluster trading data from China.

LME STOCKLM E

.

NICKEL 27700 2680 27365 27450 -0.85 -234

LEAD 2855 2855 2822 2822 -0.63 -975

ALUMINIUM 2680 2855 2669.25 2669.25 -0.48 -4250

SENSEX NIFTY NASDAQ S&P NYSE DOW JON NIKKEI SHICOM KOREA HKFE $ INDEX

19262.54 5785.7 2314.5 1324.41 8445.77 12381.11 9516.72 3033.76 2095.71 23957.66 75.19

GLOBAL MARKETS UPDATE

4577525

NICKEL

LEAD

ALUMINIUM

120990

276575

0 -0.96 -0.29 -0.28 -0.45 0.01 -2.05 0.36 -1.26 -1.42 0.16

Page No. 1www.sharetipsexpert.comStrictly for private circulation


2/8

OPEN

21390

HIGH

FUTUR

E

% CNG

VOLUME

CLOSE

21373

-0.18

21429

LOW

21337

X

GOLD

INTRADAY LEVELS

25058

OI

RE CNG

-39

10519

P.P. 21380

SUP 1 RES 1

21330 21422

SUP 2 RES 2

21288 21472

SUP 3 RES 3

21238 21514

Gold yesterday ended down in tandem with falling crude oil prices, as safe-haven bids faded. The

war premium in the metals seems to have diminished as news that a possible ceasefire in Libya and

the willingness to negotiate a settlement is weighing on the market. Holdings of the world's largest

gold-backed exchange traded fund, SPDR Gold Trust, climbed 6 tons to about 1,217 tons as of

Friday. Now support for the gold MCX is seen at 21330 and below could see a test of 21288.

Resistance is now likely to be seen at 21422, a move above could see prices testing 21472.

MC

LOW

UR

E

59765

OPEN

60650

HIGH

61466

VERFU

RE CNG

60000

% CNG

OI

15318

120716

-0.8

VOLUME

P.P. 60410

SUP 1 RES 1

59355 61056

SUP 2 RES 2MCXS

I

Silver hit new highs on Monday before falling in tandem with crude oil, as safe-haven bids faded

after a peace plan surfaced to end Libya's two-month-old civil war. After hitting a record high 61466

earlier in the morning, silver was pressured on an African Union's Libya peace initiative and as

investors heeded a recommendation from long-term commodities bull Goldman Sachs. Bullion was

also under heavy pressure after Goldman claimed there was a strong chance that commodities

-483

INTRADAY LEVELS

58709 62111

SUP 3 RES 3

57654 62757

www.sharetipsexpert.comStrictly for private circulation

pr ces m g reverse an recommen e c en s a e pro s on w a as een a uge y pro a e

trade. The spreads between gold and silver have nearly halved since last August. Now silver is

getting support at 59355 and below could see a test of 58709 level, And resistance is now likely to

be seen at 61056, a move above could see prices testing 62111.

Page No. 2


3/8

OPEN

5021

HIGH

FUTURE 5021

LOW

4864CLOSE

4898

% CNG

-2.69

VOLUME

CRUDE

142970

OI

16720

RE CNG

-132

INTRADAY LEVELS

Crude oil fell in a selloff tri ered b a Goldman Sachs note to clients that the take rofits after an P.P. 4928

SUP 1 RES 1

4834 4991

SUP 2 RES 2

4771 5085

SUP 3 RES 3

4677 5148

MC

extended rally. Worries that high oil prices could reduce demand and stunt the economic recovery

also spurred caution and sparked some liquidations. Saudi Arabia will keep supplies steady in May to

long-term customers in Asia and Europe but is not trying to force extra barrels on to buyers to drive

prices down. China's crude oil imports in March rose by a modest 3 percent from a year ago at about

5.1 million barrels per day, data showed. Now support for the crude is seen at 4834 and below could

see a test of 4771. Resistance is now likely to be seen at 4991, a move above could see prices

testing 5085.

TUR

EOPEN

442

HIGH

443.5LOW

437.65

PPERFU 438.45

% CNG

-1.07

VOLUME

100225

OI

18869

RE CNG

P.P. 439.9

SUP 1 RES 1

436.2 442.1

SUP 2 RES 2MCXC

O

Copper ended weak as the struggling dollar strengthened and a strong aftershock in Japan unnerved

some investors. The day began with Chinese trade data for the month of March, showing the metal-

consuming giant's appetite for copper recovered strongly from February's weaker tone. China is the

world's largest consumer of copper, accounting for about 40 percent of global demand estimated at

around 21 million tonnes this year. Copper has touched a low of Rs 437.65 a kg after opening at Rs

-4.7

INTRADAY LEVELS

434.0 445.7

SUP 3 RES 3

430.4 447.9

442, and last traded at Rs438.45.For today market is looking for the support at 436.2, a break below

could see a test of 434 and where as resistance is now likely to be seen at 442.1, a move above

could see prices testing 445.7.

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4/8

OPEN

113.25

HIGH

UTUR

E113.25

LOW

111.3CLOSE

111.8

% CNG

-1.43

VOLUME

X

ZINC

21640

OI

6504

RE CNG

-1.6

INTRADAY LEVELSZinc yesterday traded with the negative node and settled -1.43% down at 111.8 after US

- P.P. 112.1

SUP 1 RES 1

111.0 112.9

SUP 2 RES 2

110.2 114.1

SUP 3 RES 3

109.0 114.9

MC

o ar n ex move e ween . - yes er ay, an z nc pr ces mos y uc ua ebetween USD 2,525-2,550/mt during Asian trading hours. LME zinc prices once touched a

high of USD 2,555/mt, but faced strong resistance. A strong aftershock hit Japan last night,

causing LME zinc prices to lose previous gains. Zinc shortages also predicted for around the

middle of the decade due to mine closures are likely to be less acute than feared as miners

rush to bring new projects on-stream to benefit from soaring prices for co-product silver. For

today's session market is looking to take support at 111, a break below could see a test of

110.2 and where as resistance is now likely to be seen at 112.9, a move above could see

UR

EOPEN

1232.9

HIGH

1241.7LOW

1215.3

KELFU 1232.4

% CNG

-0.09

VOLUME

45094

OI

7584

RE CNG

P.P. 1230

SUP 1 RES 1

1218 1244

SUP 2 RES 2MCXN

I

-1.1

INTRADAY LEVELSNickel yesterday traded with the negative node and settled -0.09% down at 1232.4 tracking LME

nickel for delivery in three months which was opened at USD 27,550/mt and closed at USD

27,684/mt overnight, up by USD 159/mt from a day earlier, with the highest price at USD

27,950/mt and the lowest price at USD 27,370/mt. Affected by Japan's fresh aftershock, the mild

growth of the US dollar, lackluster trading data from China. LME nickel prices slumped during the

'

1203 1256

SUP 3 RES 3

1192 1271

Page No. 4

ear y uropean ra ng ours rom apan s res a ers oc , u s a ze a e a o e ra ng

and closed with slight gains later. For today's session market is looking to take support at 1217.9, a

break below could see a test of 1203.4 and where as resistance is now likely to be seen at 1244.3, a

move above could see prices testing 1256.2.

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5/8

ROPEN

119.7

HIGH

UMFU

T120

LOW

118.15CLOSE

118.4

VOLUME

% CNG

-1.35

LUMINI

-1.6

INTRADAY LEVELS

2277

RE CNG

Aluminium yesterday traded with the negative node and settled -1.35% down at 118.4 as US dollar

-

OI

4034

P.P. 118.9

SUP 1 RES 1

117.7 119.6

SUP 2 RES 2

117.0 120.7

SUP 3 RES 3

115.9 121.4MCX

n ex uc ua e narrow y aroun on on ay, w e ow-en r s ng s g y u pressures a amoving averages strong. Finally, the US dollar index closed at 75.062, up 0.196 or 0.26% compared

with the previous trading day. LME aluminum prices continued to increase after climbing to USD

2,720/mt in the morning session. In the afternoon session, a strong earthquake rattled Japan on

Monday and sparked a fresh tsunami alert, triggering investors panic sentiment. As a result, LME

aluminum prices fell below USD 2,700/mt. Later, embattled Libyan leader Moammar Gadhafi has

agreed in principal to a deal that would end the conflict in the nation, allowing crude oil prices to fall

below USD 110/bbl, which in turn dampened upward momentum in LME aluminum prices. For

today's session market is looking to take support at 117.7, a break below could see a test of 117

185

178TURE

OPEN

178.3

HIGH

LOW

% CNG

183.2

.GAS

F2.89

14600

RE CNG

OI

VOLUME

36899

P.P. 182.1

SUP 1 RES 1

179.1 186.1

SUP 2 RES 2

CXNA

5.3

INTRADAY LEVELS

Natural Gas yesterday we have seen that market has moved 2.89% backed by cooler weather

forecasts and technical buying after a six-day slide despite still-high supplies. However, the price

drop sparked some bargain buying from traders reluctant to bet that prices would fall further as

forecasts showed colder-than-normal weather next week. Industry weather group MDA Federal said

temperatures in the Midwest and Northeast were expected to be below normal from April 16 to April

175.1 189.1

SUP 3 RES 3

172.1 193.1

Page No. 5www.sharetipsexpert.comStrictly for private circulation

20.Mar et as opene at 178.3 & ma e a ow o 178 versus t e ay ig o 185. T e tota vo ume

for the day was at 36899 lots and the open interest was at 14600.Now support for the Natural Gas is

seen at 179.1 and below could see a test of 175.1. Resistance is now likely to be seen at 186.1, a

move above could see prices testing 189.1.


6/8

ACTIVE SPREAD UPDATE

DAILY SPREAD IN GOLD - MCX DAILY SPREAD IN SILVER - MCX

MONTH RATE JUNE AUG OCT MONTH RATE MAY JULY SEPT

JUNE 21373 298 616 MAY 60000 924 1873

AUG 21671 318 JULY 60924 949OCT 21989 SEPT 61873

Spread between Silver MAY & JUL contracts yesterday

ended at 924, we have seen yesterday that the silver

market had traded with a negative node and settled -

0.8% down. Spread yesterday traded in the range of 924

1768.

Spread between Gold JUN & AUG contracts yesterday

ended at 298, we have seen yesterday that the gold



- 303.

MONTH RATE APRIL MAY JUNE MONTH RATE APRIL JUNE

APRIL 4898 61 115 APRIL 438.45 6.2

MAY 4959 54 JUNE 444.65

JUNE 5013

DAILY SPREAD IN CRUDE - MCX DAILY SPREAD IN COPPER - MCX

Sprea etween copper APR & JUN contracts yester ay

ended at 6.2, we have seen yesterday that the copper


1.07% down. Spread yesterday traded in the range of 6.2

- 6.5.

DAILY SPR EAD IN NICKEL - MCXARKET

DAILY SPREAD IN ZINC - MCX

Sprea etween cru e MAR & APR contracts yester ay

ended at 61, we have seen yesterday that the crude



61.

MONTH MONTH

APRIL 111.8 1.2 APRIL 1232.4 7.7

MAY 113 MAY 1240.1

Spread between zinc APR & MAY contracts yesterday

ended at 1.2, we have seen yesterday that the zincmarket had traded with a negative node and settled -

1.43% down. Spread yesterday traded in the range of -

0.8 - 1.2.

Spread between nickel APR & MAY contracts yesterday

ended at 7.70, we have seen yesterday that the nickelmarket had traded with a negative node and settled -

0.09% down. Spread yesterday traded in the range of

6.80 - 7.7.PREAD

MONTH RATE APRIL MAY MONTH RATE APRIL MAY

APRIL 183.2 5.1 APRIL 1048 -56.6

MAY 188.3 MAY 991.4

DAILY SPREAD IN NAT. GAS - MCX DAILY SPREAD IN MENTHOL - MCX

S read between natural as APR & MAY contracts S read between menthol oil APR & MAY contracts

yesterday ended at 5.10, we have seen yesterday that the

natural gas market had traded with a positive node and

settled 2.89% up. Spread yesterday traded in the range of4.9 - 5.1.

yesterday ended at -56.60, we have seen yesterday that

the menthol oil market had traded with a positive node

and settled 0.09% up. Spread yesterday traded in therange of -59.1 to -53.3.



7/8

DAY TIME CURRENCY Fo re cast P re viou s

11:30am EUR 0.005 0.005L

German Final CPI m/ m

DATA

2:30pm EUR 11.7 14.1

2:30pm EUR 29.8 31

3:45pm USD 0 0

6:00pm USD -44.1B -46.3B

6:00pm USD 0.021 0.014

7:30pm USD 45.7 43

11:30pm USD -157.5B -222.5B

0 0 0 0ONOMI

C

DATA

ZEW Economic Sentiment

FOMC Member Dudley SpeaksTrade Balance

Import Prices m/ m

German ZEW Economic Sentiment

Tue IBD/ TIPP Economic Optimism

Federal Budget Balance

0

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

EC 0

0

0

0

OPEC can do little to control prices driven by speculators betting on "worst case scenarios" and has already supplied

the market with the oil it needs, members of the producer group said. "There is little we can do in terms of price

E

control," UAE Oil Minister Mohammed bin Dhaen al-Hamli told an oil conference in Paris. Already, he said, the

Organization of the Petroleum Exporting Countries had increased output in response to the disruption of supply from

OPEC member Libya. The group, which pumps around a third of the world's oil, has resisted calls for an emergency

meeting before its next scheduled conference in June in Vienna. "International markets are choosing to ignore market

fundamentals and bet on the worse case scenarios," Hamli said, adding the market was well-supplied. Iraq's Deputy

Prime Minister for Energy Affairs Hussain al-Shahristani, a former oil minister, agreed OPEC had done all it could to

calm the current rally. OPEC Secretary General Abdullah al-Badri had also been expected to attend the Paris oil

conference, but sent a letter of apology saying current events had detained him at the OPEC secretariat in Vienna.

"Ongoing events in the Middle East and North Africa are such that I judge it inappropriate for me to absent myself

' "

CA

N

Urom e organ sa on s ea quar ers n enna a s me, e sa .

Cane crushing in the second-largest sugar producing state, Uttar Pradesh is almost over with the total production of

sugar being seen at 5.88 million tonne, which would be less than the earlier estimate of 6 million tonne. More than

100 sugar mills in the state have shut down operation. Only two dozen odd mills are still operating - that too at low

ca acit levels. Barrin two mills in western Uttar Pradesh all are ex ected to close b the end of next week. Su ar

WSYO

. , .

industry players say that the mills, which are still running, are hardly getting enough cane and the season is expected

to close with a production of about 5.88 million tonne sweetener in the 2010-11 sugar season. The figure may vary

slightly but the state would miss the target of producing 6 million tonne as was initially estimated. Though cane

acreage in UP has increased 17% compared to last year and farmers readily sold cane enthused by the high SAP, the

state has been unable to achieve the production target. This is mainly due to floods at the beginning of the crushing

season, which destroyed crops in certain places, and the low yield reported in parts of western UP.

N

India's industrial output grew at a slower-than-expected pace in February, dragged down by continued contraction in

capital goods, but a hawkish Reserve Bank of India (RBI) is still expected to tighten monetary policy as it battles

stubbornly high inflation. Production at factories, mines and utilities grew 3.6 percent on year in February, lower than

an upwardly revised 3.9 percent growth a month ago. The manufacturing sector, which contributes about 80 percent

to overall output, grew an annual 3.5 percent in February. Capital goods output fell 18.4 percent during the month

compared with an almost 47 percent growth in the same period last year.

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8/8

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Disclaimer

The report and calls made herein are for general information purpose and report contains only the viewpoints. We make norepresentation or warranty regarding the correctness, accuracy or completeness of any information, and are not responsible for

errors of any kind even though we have taken utmost care in obtaining the information from sources which are believed to be

reliable, which are publicly available. The information contained herein is strictly confidential and is meant for the intended

recipients. Any alteration, transmission, photocopied distribution in part or in whole or reproduction of any form of the

information without prior consent of SHARETIPSEXPERT GROUP is prohibited. The information and data are derived from the

source that are deemed & believed to be reliable and the calls are based on the theory of Technical Analysis. Neither the


company nor its employees are responsible for the trading Profit(es) & loss(es) arising due to the trader. The commodities and

derivatives discussed and opinions expressed in this report may not be suitable for all investors falling under different categories

and jurisdictions. All futures trading entail significant risk, which should be fully understood prior to trading.

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Share Tips Expert Commodity Report 12042011

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