Open High Low Close % Cng

Gold 26600 26769 26500 26510 0.12Silver 37222 37469 36808 36862 -0.41

Aluminium 112.9 113.4 111.7 111.8 -0.53Copper 372.45 375.3 370.8 372.9 0.28Lead 108.2 108.85 108.05 108.6 0.84Nickel 877.9 882.4 865 866.1 -1.01Zinc 128.25 128.9 127.05 127.2 -0.43

Crude 3069 3177 3040 3149 2.77Nat. Gas 169 171.7 167.8 169 0.78

USDINR 62.10 62.37 62.00 62.27 0.08EURINR 69.57 69.97 69.46 69.93 0.03GBPINR 95.75 96.15 95.68 96.01 0.19JPYINR 51.92 52.05 51.85 52.01 -0.20

12:30pm EUR 0.005 0.002

1:30pm EUR 10.5K 78.0K

3:30pm EUR -0.005 -0.01

8:30pm USD 48.3 47.5

All Day USD 16.8M 16.7M

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 00 0 0 0

0 0 0 00 0 0 00 0 0 0

$ Index Euro Pound Yen DJ Nasdaq Hang Seng Gold$ Silver$ Crude $95.37 1.1189 1.5371 119.77 2117.39 5008.10 24898 1207.62 16.47 49.60-0.13 0.09 0.09 -0.34 0.61 0.90 0.04 0.15 0.39 0.00

Global Market

0

0

0

0

0

ECONOMICAL DATAGerman Retail Sales m/m

Spanish Unemployment Change

PPI m/m

IBD/TIPP Economic Optimism

Total Vehicle Sales

0

0

0

Tue

SELL ZINC MAR @ 127.50 SL 128.50 TGT 126.50-125.60.MCXSELL NICKEL MAR @ 874 SL 885 TGT 865-850.MCXSELL ALUMINIUM FEB @ 112 SL 113 TGT 111.20-110.40-109.MCX

DAY TIME ZONE EXP PREV

Trading Calls for the DaySELL GOLD APR @ 26600 SL 26780 TGT 26460-26350.MCXSELL SILVER MAY @ 37000 SL 37380 TGT 36640-36320.MCXBUY CRUDE OIL MAR @ 3080 SL 3020 TGT 3125-3170.MCXSELL NAT.GAS MAR @ 169.20-170 SL ABV 173.80 TGT 166.80-164.20-161.50. MCX (STBT)SELL COPPER APR BELOW 371 SL 374.50 TGT 368.50-365.MCX

1Email: alpha-ho@hotmail.com

Commodity Research, Alpha CommoditiesPage No

Currency

Rupee settled flat on dollar buying by foreign banksmostly to repatriate profit made from selling Indianstocks.

Base Metal

Base metals prices ended with mixed node as pressure seen onworries over Chinese growth despite China’s central bankunexpectedly cut interest rates for the second time in less than fourmonths, indicating that Beijing is becoming more aggressive insupporting the economy as its momentum slows and deflation risksrise. A pair of manufacturing reports released over the past two dayspainted a mixed picture of the health of China's manufacturing sector.

Energy

Crude oil prices ended with gains despite of rising Libyan crudeoutput and a firmer dollar

COMMODITY WORLD

Tuesday, March 03, 2015

Round upPrecious Metals

Gold pared gains as the U.S. dollar rose and investors cashed ingains after upbeat Asian demand lifted the metal to two-weekhighs.

Open 26600High 26769Low 26500Close 26510% Cng 0.12OI 8810Volume 14398Resist 3 26955Resist 2 26862Resist 1 26686Support 1 26417Support 2 26324Support 3 26148

Open 37222High 37469Low 36808Close 36862% Cng -0.41OI 9774Volume 17412Resist 3 37945Resist 2 37707Resist 1 37284Support 1 36623Support 2 36385Support 3 35962

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MC

X S

ilver

MCX Silver05 MAY 2015

Commodity Research, Alpha CommoditiesPage No

COMMODITY WORLDM

CX

Gol

d

MCX Gold03 APR 2015

Silver settled down -0.41% at 36862 falling off a two-week peak the session before, struggling to push higher as the dollar hovered near an 11-yearhigh. The greenback, bolstered by expectations that the U.S. Federal Reserve is on track to raise interest rates this year, shrugged off a batch of softU.S. data including weak consumer spending and factory activity. While on the economic front, US consumer spending fell for a second straightmonth in January as households continued to cut back on purchases. Factory activity slowed in February and construction spending declined sharplyin January, adding to signs that economic growth moderated early in the first quarter. Janet Yellen's premium on consensus may lead to a FederalReserve decision the chair hasn't yet endorsed, as a near majority aligns in favour of a possible June interest rate hike. Meanwhile China's slowingeconomy will be at the forefront as parliament convenes for its annual meeting this week, with a weekend interest rate cut a reminder of thechallenge of balancing painful restructuring with combating the onset of deflation. In India, meanwhile, markets reacted to surprising news that thegovernment of Prime Minister Narendra Modi will keep the nation's tax rate for gold imports constant, in spite of speculation for months that thegovernment could cut the import duty. India's finance minister Arun Jaitley retained the duty for imports of gold at 10 percent. In 2013, Indiaincreased the tax on three separate occasions. Technically market is under fresh selling as market has witnessed gain in open interest by 29.27% tosettled at 9774, now Silver is getting support at 36623 and below same could see a test of 36385 level, And resistance is now likely to be seen at37284, a move above could see prices testing 37707.

Gold settled up 0.12% at 26510 snapped it's earlier gains as equities climbed, with investors mulling over a slew of economic data from the U.S. anda rate cut in China. Gold inched lower despite some soft manufacturing and construction data from the U.S. and the Chinese central bank slashinginterest rates, with the dollar jumping to its highest in about 11 years intraday against a select band of major currencies. In another negative for theprecious metal, India - one of the largest consumers of gold, made no change to its restrictive gold import policy as was widely expected, in itsannual budget announced last Saturday. The precious metal had found support in recent days after big losses earlier in February, fueled byexpectations the Federal Reserve will raise interest rates by mid-year. Market now say that a September rate hike is more likely than June, givingglobal economic headwinds, low inflation, and a relatively lackluster rise in U.S. GDP during the first quarter. Meanwhile, demand for the preciousmetal may rise after reports suggest Apple is planning to buy up vast amounts of gold to produce high-end versions of its Apple Watch. On theeconomic front, a report from the ISM showed U.S. manufacturing activity growth to have slipped to its lowest in more than a year, with labor issuesat West Coast ports continuing to cause problems for exporters. US construction spending unexpectedly fell in January, adding to concerns over theeconomy in the midst of winter lull for the second year running. Technically market is getting support at 26417 and below same could see a test of26324 level, And resistance is now likely to be seen at 26686, a move above could see prices testing 26862.

Open 3069High 3177Low 3040Close 3149% Cng 2.77OI 28213Volume 170033Resist 3 3341Resist 2 3259Resist 1 3204Support 1 3067Support 2 2985Support 3 2930

Open 169High 171.7Low 167.8Close 169% Cng 0.78OI 11687Volume 41160Resist 3 175Resist 2 173Resist 1 171Support 1 167Support 2 166Support 3 163

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atu

ral G

as

MCX Natural Gas26 MAR 2015

Commodity Research, Alpha CommoditiesPage No

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Cru

de

Oil

MCX Crude Oil19 MAR 2015

Naturalgas settled up 0.78% at 169 while still trading below 170 level traded near a two-week low as extended forecasts called for warmer weatheracross the majority of the U.S. in the second week of March. As bearish speculators are betting on the warm weather reducing late-winter demand forthe heating fuel. The heating season from November through March is the peak demand period for U.S. gas consumption. Despite Friday's gains,Nymex natural gas prices tumbled 27.5 cents, or 8.8%, last week, as ongoing concerns over ample supplies weighed. Total U.S. natural gas storagestood at 1.938 trillion cubic feet as of last week, 1.5% below the five-year average for this time of year. Last spring, supplies were 55% below thefive-year average, indicating producers have more than made up for last winter’s unusually strong demand. Futures are down almost 40% since mid-November as an unusually mild start to winter limited demand while production soared. The Energy Information Administration's next storage reportslated for release on March 5 is expected to show a withdrawal of approximately 220 billion cubic feet for the week ending February 27, as a recentcold blast stoked heating demand. The five-year average change for the week is a decline of 116 billion cubic feet, while supplies fell by 189 billionthe same time last year. Technically market is under short covering as market has witnessed drop in open interest by -3.46% to settled at 11687while prices up 1.3 rupee, now Naturalgas is getting support at 167.3 and below same could see a test of 165.6 level, And resistance is now likely tobe seen at 171.2, a move above could see prices testing 173.4.

Crudeoil settled up 2.77% at 3149 supported by traders entering the market after prices dropped sharply in the previous session on the back ofrecord U.S. stocks. Yesterday prices shook off earlier weakness on Monday to trade higher as traders digested the latest batch of U.S. economic datain their quest to gauge the strength of the economy. The U.S. economy, one of the world's bright spots last year, grew at a relatively lackluster pacein the first quarter, data revealed last week. While many analysts are chalking that up to unseasonably cold weather throughout much of the nation,others say that expectations should be tempered for the rest of the year. Still, the U.S. dollar remains strong compared to other major currencies,weighing on commodities, including crude oil. Meanwhile, speculations are rife that a nuclear deal could be reached with Iran gained strength, whichcould boost Tehran's oil exports significantly by at least 1 percent. U.S. crude inventories kept rising last week, adding another 8.4 million barrels,according to government data. Meanwhile, refinery maintenance has helped lift gasoline prices. Drivers are paying more at the pump than they werea month ago, with the U.S. national average jumping 12 cents from the previous week to $2.41 a gallon. Also Iraq's oil minister, Adel Abdel Mehdi,said on Sunday he expected to see crude prices at around $65. Saudi Arabian oil minister Ali al-Naimi said last week that oil markets have settleddown after a prolonged period of volatility late last year. Technically market is getting support at 3067 and below same could see a test of 2985 level,And resistance is now likely to be seen at 3204, a move above could see prices testing 3259.

Open 372.45High 375.3Low 370.8Close 372.85% Cng 0.28OI 11731Volume 34915Resist 3 380Resist 2 378Resist 1 375Support 1 371Support 2 369Support 3 366

Open 877.9High 882.4Low 865Close 866.1% Cng -1.01OI 13129Volume 25430Resist 3 894.8Resist 2 888.6Resist 1 877.4Support 1 860.0Support 2 853.8Support 3 842.6

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icke

l

MCX Nickel31 MAR 2015

Commodity Research, Alpha CommoditiesPage No

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Cop

per

MCX Copper30 APR 2015

Nickel settled down -1.01% at 866.1 on concern that Chinese authorities may have taken action because the economy was in worse shape thanexpected. HSBC’s February PMI for China hit a 7-month high of 50.7, but China’s exports were lackluster. HSBC’s final China manufacturing PMI roseto a renewed 7-month high of 50.7 in February, beating the initial reading of 50.1. This suggests that China’s manufacturing conditions improved as awhole, with output posting a high not seen since last summer. A higher growth in new orders dovetailed with a rise in China’s official manufacturingPMI. Greece’s Finance Minister indicated Monday that the Greek government hopes to initiate negotiations with international creditors as soon aspossible in a bid to extend its payment period. The minister added that the government will do everything possible to repay its debts. However, SaudiArabia and Libya increased crude oil output, causing crude prices to fell 2%, sending the US dollar index to 95 and pushing down base metals prices.LME nickel prices opened at USD 14,120/mt, and inched up due to the interest rate cut by the PBOC, reaching as high as USD 14,180/mt. LME nickelprices fell below USD 14,000/mt, and inched lower with LME nickel prices. During US trading hours, LME nickel prices dropped further and closed atUSD 13,860/mt, down 1.56%. Trading volumes increased 116 to 4,329 lots, and total positions increased 2,697 to 213,966. LME nickel inventoriesgrew 2,268 to 430,944 mt. Technically market is under fresh selling as market has witnessed gain in open interest by 30.69% to settled at 13129,now Nickel is getting support at 860 and below same could see a test of 853.8 level, And resistance is now likely to be seen at 877.4, a move abovecould see prices testing 888.6.

Copper settled up 0.28% at 372.85 given up earlier gains despite China’s central bank reducing interest rates and signs that China’s manufacturingsector is in a better state than expected. On the economic front, US ISM manufacturing PMI fell to a new 13-month low of 52.9 in February, slightlybelow 53 expected and down for a fourth straight month. US personal consumption expenditures edged down 0.2% MoM in January, a fall bigger thanthe expected 0.1% decline, while its personal income grew 0.3% MoM, short of a 0.4% rise estimated. The euro zone’s preliminary CPI shrank 0.3%YoY in February. The single currency area’s final manufacturing PMI for February came in at 51, below the initial reading and forecast of 51.1. Aspessimism grew over the euro zone economy, the US dollar index scaled another high on Monday. Also HSBC’s final China manufacturing PMI rose toa renewed 7-month high of 50.7 in February, beating the initial reading of 50.1. This suggests that China’s manufacturing conditions improved as awhole, with output posting a high not seen since last summer. A higher growth in new orders dovetailed with a rise in China’s official manufacturingPMI. Meanwhile Greece’s Finance Minister indicated Monday that the Greek government hopes to initiate negotiations with international creditors assoon as possible in a bid to extend its payment period. The minister added that the government will do everything possible to repay its debts.Technically market is under short covering as market has witnessed drop in open interest by -1% to settled at 11731 while prices up 1.05 rupee, nowCopper is getting support at 370.7 and below same could see a test of 368.5 level, And resistance is now likely to be seen at 375.2, a move abovecould see prices testing 377.5.

Open 128.25High 128.90Low 127.05Close 127.15% Cng -0.43OI 3048Volume 8956Resist 3 130.3Resist 2 129.6Resist 1 128.4Support 1 126.5Support 2 125.8Support 3 124.6

Open 112.90High 113.40Low 111.70Close 111.80% Cng -0.53OI 3234Volume 5487Resist 3 114.6Resist 2 114.0Resist 1 112.9Support 1 111.2Support 2 110.6Support 3 109.5

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lum

iniu

m

MCX Aluminium31 MAR 2015

Commodity Research, Alpha CommoditiesPage No

COMMODITY WORLDM

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Zin

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MCX Zinc31 MAR 2015

Aluminium settled down -0.53% at 111.8 prices were dragged down by a stronger dollar. US ISM manufacturing PMI fell to a new 13-month low of52.9 in February, slightly below 53 expected and down for a fourth straight month. US personal consumption expenditures edged down 0.2% MoM inJanuary, a fall bigger than the expected 0.1% decline, while its personal income grew 0.3% MoM, short of a 0.4% rise estimated. The euro zone’spreliminary CPI shrank 0.3% YoY in February. The single currency area’s final manufacturing PMI for February came in at 51, below the initial readingand forecast of 51.1. As pessimism grew over the euro zone economy, the US dollar index scaled another high on Monday. HSBC’s final Chinamanufacturing PMI rose to a renewed 7-month high of 50.7 in February, beating the initial reading of 50.1. This suggests that China’s manufacturingconditions improved as a whole, with output posting a high not seen since last summer. A higher growth in new orders dovetailed with a rise inChina’s official manufacturing PMI. LME aluminum climbed to USD 1,833/mt after opening at USD 1,818.5/mt on Monday, lifted by improving ChinaFebruary manufacturing PMI. But the light metal was dragged down by a stronger dollar to USD 1,800/mt later before closing at USD 1,805/mt.Technically market is under fresh selling as market has witnessed gain in open interest by 16.25% to settled at 3234 while prices down -0.6 rupee,now Aluminium is getting support at 111.2 and below same could see a test of 110.6 level, And resistance is now likely to be seen at 112.9, a moveabove could see prices testing 114.

Zinc settled down -0.43% at 127.15 as expectations of rising U.S. interest rates pushed up the dollar and flattened commodity prices. Majoreconomic indicators released overnight were mixed, with base metals prices following their own trends. HSBC’s final China manufacturing PMI rose toa renewed 7-month high of 50.7 in February, beating the initial reading of 50.1. This suggests that China’s manufacturing conditions improved as awhole, with output posting a high not seen since last summer. A higher growth in new orders dovetailed with a rise in China’s official manufacturingPMI. Greece’s Finance Minister indicated Monday that the Greek government hopes to initiate negotiations with international creditors as soon aspossible in a bid to extend its payment period. The minister added that the government will do everything possible to repay its debts. LME zinc pricesopened at USD 2,067.5/mt, then touched USD 2,088/mt due to upbeat HSBC’s February PMI for China and the interest rate drop by the PBOC.Economic data from Europe and the US were sluggish. Euro zone February CPI fell for the third straight month, meaning increasing deflationarypressure. ISM February manufacturing PMI for the US hit a 13-month low. US household spending in January shrank for the second consecutivemonth, distressing market sentiment. LME zinc inventories fell 3,175 to 564,175 mt. Technically market is under fresh selling as market haswitnessed gain in open interest by 13.6% to settled at 3048 while prices down -0.55 rupee, now Zinc is getting support at 126.5 and below samecould see a test of 125.8 level, And resistance is now likely to be seen at 128.4, a move above could see prices testing 129.6.

Ratio

71.92

8.42

71.10

11.71

98.87

18.63

0.85

Change Stock

825 297200

2268 430944

-3175 564175

-7225 3939425

-50 214700

Commodity Research, Alpha CommoditiesPage No 6

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NCDEX CHARJDDEL APR-MAY 14.00

News you can Use

Germany's parliament approved an extension of Greece's bailout after Finance Minister Wolfgang Schaeuble, who has voiced doubts about whetherAthens can be trusted, promised he would not let Greece "blackmail" its euro zone partners. With 542 members of the Bundestag voting "yes",including almost all of Chancellor Angela Merkel's right-left coalition and the opposition Greens, it was the biggest majority so far for a euro zonerescue package. There were 32 "no" votes and 13 abstentions. The Bundestag vote was the only major parliamentary hurdle for a four-monthextension to the bailout program for the most heavily indebted country in Europe's single currency zone. Schaeuble urged lawmakers to take what heacknowledged was a difficult decision, appealing to their sense of responsibility.Germany's ruling conservatives do not disguise their dislike of whattheir parliamentary leader Volker Kauder has called the "loutish" behavior of the Greek government. Schaeuble has told lawmakers in private thatVaroufakis' remarks reviving talk of a debt "haircut" had strained EU solidarity with Greece.

Greece is running out of options to fund itself despite a four-month bailout extension, raising pressure on Athens to quickly implement reforms it hasvocally opposed or default on debt repayments in a matter of weeks. Euro zone and IMF creditors gave Greece until the end of June to complete thebailout programme and receive the remaining 7.2 billion euros but it will not be allowed any funds until itShut out of debt markets and faced with asteep fall in tax revenues, Athens is expected to run out of cash by the middle or end of March. Its finance minister has warned that Greece willstruggle to repay creditors starting with a 1.5 billion euro IMF loan repayment due in March. Athens has been looking for quick fixes to tide it throughthe coming weeks. It is expected to get a green light early next week for cheap aid and funding support from the European Bank for Reconstructionand Development that could add up to more than a billion euros, sources from the bank told Reuters.Euro zone officials hope the liquidity squeeze willforce Prime Minister Alexis Tsipras's nascent government to agree reform plans more quickly than the end of April deadline set by creditors, pavingthe way for bailout funding to be released.

Raising interest rates too late is safer than acting too early, an influential Federal Reserve official said on Friday, endorsing a high-profile researchpaper that argues the U.S. economy, given time, can rebound to the strong growth rate to which Americans are accustomed. The paper by four topU.S. economists, presented on Friday to a roomful of powerful central bankers in New York, argues the Fed would be wise to keep rates at rockbottom for longer than planned and then tighten monetary policy more aggressively. New York Fed President William Dudley, who offered a critiqueof the paper, cited currently low inflation and warned against being too anxious to tighten monetary policy. The risks of hiking rates "a bit early arehigher than the risks of lifting off a bit late," he told a forum hosted by the University of Chicago's Booth School of Business. "This argues for a moreinertial approach to policy." The U.S. central bank is in the global spotlight as it weighs when to lift rates after more than six years near zero, andhow quickly to tighten policy thereafter. Some policymakers, like Cleveland Fed President Loretta Mester, caution against waiting too long, givenconcerns about potential financial stability and an erosion of public confidence in the economy.

MCX MENTHAOIL MAR-APR 10.40 LeadNCDEX RMSEED APR-MAY 21.00

NCDEX SYBEANIDR APR-JUN 20.00

NCDEX CHILLI APR-JUN 384.00 ZincMCX CPO MAR-APR 5.80 Aluminium

NCDEX JEERAUNJHA APR-MAY 270.00 CopperNCDEX TMCFGRNZM APR-MAY 104.00 Nickel

MCX CARDAMOM APR-MAY -20.70 LME Stock (Tons) NCDEX DHANIYA APR-MAY 89.00 Commodity

MCX LEAD MAR-APR 0.95 Lead Zinc ratio

MCX ALUMINIUM MAR-APR 0.75

MCX ZINC MAR-APR 0.85 Silver Copper ratio

MCX NICKEL MAR-APR 3.70 Crude Natural Gas ratio

MCX CRUDEOIL MAR-APR 136.00 Gold Copper ratio

MCX NATURALGAS MAR-APR 3.70 Silver Crude ratio

Commodity Spread

MCX GOLD APR-JUN 203.00 Gold Silver ratio

MCX SILVER MAY-JUL 622.00 Gold Crude ratio

COMMODITY WORLD

Spread View Ratio TradingCommodity

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COMMODITY WORLD