Date post: | 08-Apr-2018 |
Category: |
Documents |
Upload: | hardeep-yadav |
View: | 227 times |
Download: | 0 times |
of 8
8/6/2019 Share Tips Expert Commodity Report 23032011
1/8
Daily Commodity Market Update as on Wednesday, March 23, 2011
PRECIOUS METALS COMPLEX
NAME OPEN HIGH LOW CLOSE % CNG
GOLD 20974 20990 20835 20908 -0.22
SILVER 54199 54500 53715 54296 0.43
GOLD 1427.7 1428.9 1425.35 1427.1 -0.05
SILVER 36.35 36.4 36.19 36.19 -0.47
PLATINUM 1736 1739.74 1730.75 1739.49 0.19
Gold was little changed as interest-rate hike worries
prompted the market to take a breather, but Western air
strikes on Libya and escalating political unrest in other
Arab countries underpinned safe-haven demand.SPOT $
MCX
NAME OPEN HIGH LOW CLOSE % CNG
CRUDE 4662 4737 4626 4718 1.12
N.GAS 187.7 190.7 187 189.9 1.21
ENERGY COMPLEX
Crude oil rose as tensions in the Middle East and Allied air
strikes against targets in Libya stoked more concerns
about supply disruptions. Natural gas advanced amid
expectations for increased demand, after forecasts
showed below avera e tem eratures across most of the
MCX
CRUDE 102.1 104.54 101.43 104 1.860921
NAME OPEN HIGH LOW CLOSE % CNG
U.S. for the next two weeks.
BASEMETAL COMPLEX
Base metals traded mixed in range bound trade
MCX
. . . . .
ZINC 103.5 104.9 102.9 104.5 1.53
NICKEL 1200.6 1204 1182.7 1187 -1.58
LEAD 120.45 121.8 119.3 121.35 0.99
ALUMINIUM 115.2 116.1 114.45 115.7 0.73
COPPER 9474.75 9525 9466.25 9516 0.38 3850
ZINC 2325 2373.5 2325 2369 2.11 -125
supported by a soft dollar and modestly higher equity
markets, but awaiting fresh cues as investors eye
developments in Japan and the Middle East.
LME STOCKLM E
COPPER
ZINC
434350
736025. .
NICKEL 26350 2598 26349 26480 0.3 -384
LEAD 2685 2691 2680 2689 0.45 -600
ALUMINIUM 2592 2691 2588 2595 0.19 -5250
SENSEX NIFTY NASDAQ S&P NYSE DOW JON NIKKEI SHICOM KOREA HKFE $ INDEX
17954.44 5403.4 2257.96 1293.77 8228.41 12018.63 9490.93 2941.88 2017.23 22813.11 75.55
NICKEL
LEAD
ALUMINIUM
124464
287050
4600925
GLOBAL MARKETS UPDATE
-0.19 -0.1 -0.21 -0.36 -0.34 -0.15 -1.23 0.78 0.15 -0.2 0.15
Strictly for private circulation Page No. 1www.sharetipsexpert.com
8/6/2019 Share Tips Expert Commodity Report 23032011
2/8
OPEN
20974
HIGH
LOW
20835
-0.22
20990
% CNG
VOLUME
CLOSE
20908
FUTUR
E
-45
10325
RE CNG
25678
OI
INTRADAY LEVELS
X
GOLD
Gold turned modestly lower by -0.22 and settled at 20908 erasing earlier gains, as fears over
P.P. 20911
SUP 1 RES 1
20832 20987
SUP 2 RES 2
20756 21066
SUP 3 RES 3
20677 21142
MC
Japans nuclear crisis eased and the U.S. dollar rebounded from a 15-month low, while ongoing
turmoil in the Middle East and North Africa continued to support the precious metal. President of the
Federal Reserve Bank said that he opposed extended the Feds program of asset purchases, known
as quantitative easing, beyond June. Gold prices often move inversely to the US dollar, as gold
becomes more expensive for buyers using other currencies. Now technically market is trading in the
range as RSI for 18days is currently indicating 53.79, where as 50DMA is at 20625.08 and gold is
trading above the same and getting support at 20832 and below could see a test of 20756 level, And
resistance is now likely to be seen at 20987, a move above could see prices testing 21066.
54199
HIGH
54500
53715
OPEN
LOW
UR
E
OI
14929
84428
0.43
VOLUME
RE CNG
54296
% CNG
VERFU
P.P. 54170
SUP 1 RES 1
53841 54626
SUP 2 RES 2
INTRADAY LEVELSSilver continue to benefit from uncertainty over the situation in Libya and the ongoing efforts to
bring the Fukushima nuclear plant under control in Japan. Silver has been leading the charge,
supported by technical buying and short covering. Yesterday we have seen silver opened at 54199
and got support from rising crude and base metal prices and tested the intraday high of 54500 but
latter cool down as pressure seen in gold and prices dipped down till 53715 and finally settled higher
234
MCXS
I
53385 54955
SUP 3 RES 3
53056 55411
Page No. 2
on s or cover ng a . ow ec n ca y mar e s ra ng n e range as or ays s
currently indicating 67.91, where as 50DMA is at 48961.82 and silver is trading above the same and
getting support at 53841 and below could see a test of 53385 level, And resistance is now likely to
be seen at 54626, a move above could see prices testing 54955.
Strictly for private circulation www.sharetipsexpert.com
8/6/2019 Share Tips Expert Commodity Report 23032011
3/8
4662
HIGH
OPEN
4718
% CNG
1.12
VOLUME
4737
LOW
4626CLOSE
FUTURE
15669
RE CNG
53
INTRADAY LEVELSCrude oil post sharp gains yesterday settled up by 1.12% at 4718 rebounding from an earlier
167209
OI
CRUDE
P.P. 4694
SUP 1 RES 1
4650 4761
SUP 2 RES 2
4583 4805
SUP 3 RES 3
4539 4872
decline, amid ongoing turmoil in the Middle East and as fighting in Libya continued. Earlier in the
day, a U.S. Military spokesman said that a U.S. F-15 fighter jet crashed in Libya, apparently due to a
mechanical failure. Both crew members were safe. Coalition forces launched a third wave of air
strikes on Libya overnight in an effort to protect Libyan civilians from leader Muammar Gaddafi and
his troops. Libyan state television reported that several sites in Tripoli had been subject to new
attacks by what it called the "crusader enemy". Now crude is getting support at 4650 and below
could see a test of 4583 level, And resistance is now likely to be seen at 4761, a move above could
see prices testing 4805.
MC
HIGH
430.7LOW
426.7TUR
EOPEN
428.8
RE CNG
% CNG
0.52
VOLUME
86796
OI
20260
430.1
PPERFU
P.P. 429.2
SUP 1 RES 1
427.6 431.6
SUP 2 RES 2
2.25
INTRADAY LEVELSCopper yesterday traded with the positive node and settled 0.52% up at 430.1 as worries about
Japan's nuclear crisis eased and boosted risk appetite, and with the support of a weaker dollar, but
poor Chinese import data weighed on demand prospects. Benchmark copper prices on the LME
closed at $9,490 a tonne after falling 1.2% on Monday to close at $9,405.The U.S. dollar hit a 15-
month low against other major currencies and could extend losses as resumption in risk appetite
spurred demand for currencies that offer higher returns. Chinese data showing lower than expectedMCXC
O
425.2 433.2
SUP 3 RES 3
423.6 435.6
commodities imports for February, released on Monday, cast doubts over demand from the world's
top consumer of copper. For today's session market is looking to take support at 427.6, a break
below could see a test of 425.2 and where as resistance is now likely to be seen at 431.6, a move
above could see prices testing 433.2.
Strictly for private circulation www.sharetipsexpert.com Page No. 3
8/6/2019 Share Tips Expert Commodity Report 23032011
4/8
103.5
HIGH
OPEN
104.5
% CNG
1.53
VOLUME
104.9
LOW
102.9CLOSE
UTUR
E
8195
RE CNG
1.6
INTRADAY LEVELS
Zinc yesterday traded with the positive node and settled 1.53% up at 104.5 on overnight fell
23598
OI
X
ZINC
P.P. 104.1
SUP 1 RES 1
103.3 105.3
SUP 2 RES 2
102.1 106.1
SUP 3 RES 3
101.3 107.3
in US dollar index to a 15-month low of 75.2. But crude prices closed at USD 104/bbl as a
result of Japanese and Libya events. In this context, the Dow Jones Industrial Average fell
17.9 to close at 12,018.63, weighing down LME zinc prices to close at USD 2,307/mt, down
USD 12.5/mt. In yesterday's trading session zinc has touched the low of 102.9 after opening
at 103.5, and finally settled at 104.5. For today's session market is looking to take support at
103.3, a break below could see a test of 102.1 and where as resistance is now likely to be
seen at 105.3, a move above could see prices testing 106.1.
MC
HIGH
1204LOW
1182.7UR
EOPEN
1200.6
RE CNG
% CNG
-1.58
VOLUME
46471
OI
7483
1187
KELFU
P.P. 1191
SUP 1 RES 1
1178 1200
SUP 2 RES 2
-18.7
INTRADAY LEVELSNickel yesterday traded with the negative node and settled -1.58% down at 1187 tracking LME
nickel contract for delivery in three months opened at USD 26,750/mt and closed at USD 26,400/mt
over night, down by USD 350/mt from a day earlier, with the highest price at USD 26,750/mt and
the lowest price at USD 26,200/mt. LME base metals largely ended with gains on Tuesday due to
growing risk appetite from eased concern over Japan's nuclear crisis and also by virtue of supportMCXN
I
1170 1213
SUP 3 RES 3
1157 1221
rom wea er o ar. n c e was e on y pro uc a en e w osses on ues ay. or
today's session market is looking to take support at 1178.5, a break below could see a test of
1169.9 and where as resistance is now likely to be seen at 1199.8, a move above could see prices
testing 1212.5.
Strictly for private circulation www.sharetipsexpert.com Page No. 4
8/6/2019 Share Tips Expert Commodity Report 23032011
5/8
OPEN
115.2
HIGHR
% CNG
0.73
VOLUME
116.1
LOW
114.45CLOSE
115.7
UMFU
T
4330
OI
2135
RE CNG
Aluminium yesterday traded with the positive node and settled 0.73% up at 115.7 as weaker US
0.85
INTRADAY LEVELSLUMINI
P.P. 115.4
SUP 1 RES 1
114.7 116.4
SUP 2 RES 2
113.8 117.1
SUP 3 RES 3
113.1 118.0
dollar continued to push up LME aluminum prices to open higher at USD 2,584/mt. LME aluminum
prices later moved higher to test the resistance at USD 2,600/mt, and finally stood above this level,
up USD 30/mt or 1.17% compared with the previous trading day. The strengthening crude oil prices
dampened the upward momentum in US dollar index, and the US dollar index kept fluctuating
narrowly and faced strong pressure at 75.60, and finally closed at 75.573, down 0.105 or 0.14%
compared with the previous trading day. For today's session market is looking to take support at
114.7, a break below could see a test of 113.8 and where as resistance is now likely to be seen at
116.4, a move above could see prices testing 117.1.MCX
LOW
TURE
OPEN
187.7
HIGH
190.7
187
7790
RE CNG
OI
VOLUME
21826
1.21
189.9
.GAS
F % CNG
P.P. 189.2
SUP 1 RES 1
187.7 191.4
SUP 2 RES 2
Natural gas yesterday traded with the positive node and settled 1.21% up at 189.9 climbing to a six-
week high, amid expectations for increased demand, after forecasts showed below average
temperatures across most of the U.S. for the next two weeks. Earlier in the day, the U.S. Climate
Prediction Centers 8-to-14 day weather outlook showed colder air east of the Mississippi was
expected from March 25 until April 4. Colder-than-normal temperatures increase the need for gas-
fired electricity to heat homes, boosting demand for natural gas. Approximately 52% of U.S.
2.3
INTRADAY LEVELS
CXNA
185.5 192.9
SUP 3 RES 3
184.0 195.1
households use natural gas for heating, according to the Energy Department. In yesterday's trading
session natural gas has touched the low of 187 after opening at 187.7, and finally settled at 189.9.
For today's session market is looking to take support at 187.7, a break below could see a test of
185.5 and where as resistance is now likely to be seen at 191.4, a move above could see prices
www.sharetipsexpert.comStrictly for private circulation Page No. 5
8/6/2019 Share Tips Expert Commodity Report 23032011
6/8
DAILY SPR EAD IN SILVER - MCXDAILY SPR EAD IN GOLD - MCX
ACTIVE SPREAD UPDATE
MONTH RATE APRIL JUNE AUG MONTH RATE MAY JULY SEPT
APRIL 20908 274 571 MAY 54296 592 1148
JUNE 21182 297 JULY 54888 556AUG 21479 SEPT 55444
Spread between Gold APR & JUN contracts yesterday
ended at 274, we have seen yesterday that the gold
market had traded with a negative node and settled -
0.22% down. Spread yesterday traded in the range of 266
- 280.
Spread between Silver MAY & JUL contracts yesterday
ended at 592, we have seen yesterday that the silver
market had traded with a positive node and settled
0.43% up. Spread yesterday traded in the range of 592 -
731.
MONTH RATE APRIL MAY JUNE MONTH RATE APRIL JUNE
APRIL 4718 54 102 APRIL 430.1 5.5
MAY 4772 48 JUNE 435.6
JUNE 4820
DAILY SPREAD IN CRUDE - MCX DAILY SPREAD IN COPPER - MCX
Sprea etween cru e MAR & APR contracts yester ay
ended at 54, we have seen yesterday that the crude
market had traded with a positive node and settled 1.12%
up. Spread yesterday traded in the range of 38 - 54.
DAILY SPR EAD IN ZINC - MCX
Sprea etween copper APR & JUN contracts yester ay
ended at 5.5, we have seen yesterday that the copper
market had traded with a positive node and settled
0.52% up. Spread yesterday traded in the range of 5.3 -
6.1.
DAILY SPR EAD IN NI CKEL - MCXARKET
MONTH MONTH
MARCH 104.5 1.3 MARCH 1187 8.8
APRIL 105.8 APRIL 1195.8
Spread between zinc MAR & APR contracts yesterday
ended at 1.3, we have seen yesterday that the zincmarket had traded with a positive node and settled 1.53%
up. Spread yesterday traded in the range of 1 - 1.35.
Spread between nickel MAR & APR contracts yesterday
ended at 8.80, we have seen yesterday that the nickelmarket had traded with a negative node and settled -
1.58% down. Spread yesterday traded in the range of
8.00 - 9.6.PREAD
MONTH RATE MARCH APRIL MONTH RATE MARCH APRIL
MARCH 189.9 5.3 MARCH 1299.6 -224.1
APRIL 195.2 APRIL 1075.5
S read between natural as MAR & APR contracts S read between menthol oil MAR & APR contracts
DAILY SPREAD I N MENTHOL - MCXDAILY SPREAD IN N AT. GAS - MCX
yesterday ended at 5.30, we have seen yesterday that the
natural gas market had traded with a positive node and
settled 1.21% up. Spread yesterday traded in the range of5.3 - 5.5.
yesterday ended at -224.10, we have seen yesterday that
the menthol oil market had traded with a negative node
and settled -0.9% down. Spread yesterday traded in therange of -224.1 to -203.9.
Strictly for private circulation www.sharetipsexpert.com Page No. 6
8/6/2019 Share Tips Expert Commodity Report 23032011
7/8
DAY TIME CURRENCY Fo re cast P re viou s
3:30pm EUR 0.014 0.026
DATA
Industrial New Orders m/ mL
4:30pm USD 0 0
7:30pm EUR 5.1 5.8
7:30pm USD 291K 284K8:00pm USD 2.0M 1.7M
8:30pm EUR -11 -10
9:30pm USD 0 0
0 0 0 0
0 0 0 0
Fed Chairman Bernanke Speaks
0
0
Wed
Belgium NBB Business Climate
New Home SalesCrude Oil Inventories
Consumer Confidence
FOMC Member Fisher Speaks
ONOMI
C
DATA
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
Non-traditional use of spices including nutraceuticals now accounts for nearly 15% of spice production in the country
estimated at 50 lakh tonne a year. The new lines of applications are growing at a rate of 10%-12%, according to
"
EC 0
0
0
0
E
. . ,just 500 mg to 1 gm of turmeric extract in such drugs. But now, researchers are suggesting up to even 12 gram to
treat various types of cancer," he pointed out. Sami Labs has developed a new product called white turmeric which
finds application as a skin lightener. Apart from turmeric, which is the most sought after spice in the nutraceutical
market, black pepper, ginger and cinnamon are the other spices that are in demand. "Recently, the new drug
developed from capsicum extract for weight loss has been a rage in the US," Geemon Korah, chairman of All India
Spices Exporters Forum and CEO of Kancor Ingredients, said. The demand for nutraceutical products has gone up as
more people are turning to natural products for treating lifestyle diseases. The nutraceutical sector is growing at 12-
14 % in the US, 8-10 % in Europe, 14% in china and almost 9% in Japan while it is still at a nascent stage in India.
At the same time, the growth in the food industry globally, where spices are traditionally used, is 3-5 %, Geemon
CA
N
UKorah said.
The natural rubber market has regained confidence after a week of sharp fluctuation in prices. Prices had crashed by
Rs 33 per kg to Rs 185 per kg in three trading sessions after the earthquake in Japan 10 days ago. In the currentfiscal, rubber production is likely to see an increase of 3.5% to 8.63 lakh tonne. Better prices have been an incentive
to growers to increase production. In February, production was higher by almost 6%. The same trend is likely to hold
good for March as well. Though the overall production for the year is better, supplies to the market have remained
WSYO
low. Traders, however, are of the view that the supply conditions are better than the first six-seven months of the fis-
cal year. Rubber consumption is likely to see a modest 1.9% growth in 2010-11. The lower growth is mainly on
account of the poor offtake by the non-tyre sector. Despite the low growth in consumption, the fiscal year would end
with a deficit of 85,000 tonne rubber. The industry's estimate of deficit is much higher. The industry has been adding
to its capacity and is therefore expecting the deficit to go up to almost 2 lakh tonne next year. The supply shortfall in
the coming year is expected to prop up the prices. Though the prices crashed immediately after the disaster in Japan,
the quick turnaround in the market is cited as proof that the supply and demand conditions have not altered
drastically. In fact, international prices started falling even before the disaster in Japan.
N
Indian overnight cash rates were steady on Tuesday as demand for funds remained stable even in the second week
of the reporting fortnight. Demand for funds from banks is still there. Banks are borrowing to meet their daily
disbursement requirement. Demand, typically, is higher in the first week of the reporting fortnight as most banks
prefer to borrow more than the mandated reserve requirements earlier in the fortnight. Banks borrowed 432.7 billion
rupees through the central bank's morning repo auction on Tuesday, against a total of 788.90 billion rupees through
Strictly for private circulation www.sharetipsexpert.com Page No. 3
the central bank's twin repo auction on Monday.
8/6/2019 Share Tips Expert Commodity Report 23032011
8/8
Contact us
Plot no 36, Sector 23, Gurgaon, Haryana (INDIA)
Work Tel#: Fax No:
Mobile Tel#:
E-Mail: [email protected] URL: http:/ / ww w.sharetipsexpert.com
CARROTINVESTMENT
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
Strictly for private circulation www.sharetipsexpert.com Page No. 4
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.