share tips expert commodity report 28032011
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8/6/2019 Share Tips Expert Commodity Report 28032011
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Daily Commodity Market Update as on Monday, March 28, 2011
PRECIOUS METALS COMPLEX
NAME OPEN HIGH LOW CLOSE % CNG
GOLD 20806 20839 20806 20829 0.2
SILVER 55400 55524 55336 55478 0.32
GOLD 1424.85 1429.3 1423.5 1426.65 -0.2
SILVER 37.2 37.36 37.02 37.16 -0.35
PLATINUM 1740.5 1735.99 1733 1735.99 -0.66
Bullion ended the week with gains as Portugal's credit
downgrade and escalating political unrest in the Arab
world underpinned safe-haven demand.SPOT $
MCX
NAME OPEN HIGH LOW CLOSE % CNG
CRUDE 4736 4745 4736 4742 0.15
N.GAS 193.3 199.7 193.3 197.4 2.53
Oil prices recovered Saturday after dropping Friday
dipped as traders weighed concerns about Middle East
unrest and Libya's conflict as well as demand for oil in
quake-hit Japan and debt-laden Europe. Natural gas rose
as forecasts showed colder-than-normal weather,
MCX
ENERGY COMPLEX
CRUDE 105.46 105.95 104.5 105.4 -0.056894
NAME OPEN HIGH LOW CLOSE % CNG
,
boosting demand for the heating fuel.
BASEMETAL COMPLEX
MCX
. . . . .
ZINC 106 106.3 106 106.2 0.09
NICKEL 1216 1217 1213.2 1216.7 0.24
LEAD 121.1 121.35 120.95 121.25 0.25
ALUMINIUM 116.9 117.3 116.9 117.2 0.21
COPPER 9705.25 9720.25 9585.25 9605 -1.18 4650
ZINC 2379 2395 2363.25 2364.75 -0.42 -175
COPPER
ZINC
439275
735275
Base meta s inc e ower as investors remaine cautious
over the long-term demand outlook despite upbeat U.S
economic data and stronger equities markets.
LME STOCKLM E
. . .
NICKEL 27050 2645 26750 26800 -1.01 660
LEAD 2674 2684 2640 2646 -1.27 -1650
ALUMINIUM 2640 2684 2630 2631 -0.38 -5925
SENSEX NIFTY NASDAQ S&P NYSE DOW JON NIKKEI SHICOM KOREA HKFE $ INDEX
18899.29 5674 2316.36 1313.8 8321.78 12220.59 9470.07 2998.78 2047.99 22999.99 76.31
GLOBAL MARKETS UPDATE
4602950
NICKEL
LEAD
ALUMINIUM
124254
283975
0.44 0.35 0.18 0.32 0.12 0.41 -0.69 0.7 -0.29 -0.69 -0.11
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8/6/2019 Share Tips Expert Commodity Report 28032011
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OPEN
20806
HIGH
FUTUR
E
% CNG
VOLUME
CLOSE
20829
0.2
20839
LOW
20806
Gold continued it positive ending on week but prices slumped Friday as stronger-than-forecast U.S.
X
GOLD
INTRADAY LEVELS
1691
OI
RE CNG
41
9132
P.P. 20825
SUP 1 RES 1
20810 20843
SUP 2 RES 2
20792 20858
SUP 3 RES 3
20777 20876
economic data prompted traders to book gains from record prices set earlier in the week. Gold is
closing the week slightly higher at 20829. This week we achieved a high of 21048. Our week's low of
20715 provides some support but, bigger picture, the key level is last weeks low of 20470. The price
action looks like side ways consolidation of the January 19800 to March 21270 up move. We believe
the risk remains higher for gold to 22200. Now technically market is trading in the range as RSI for
18days is currently indicating 51.4, where as 50DMA is at 20684.4 and gold is trading above the
same and getting support at 20810 and below could see a test of 20792 level, And resistance is now
likely to be seen at 20843, a move above could see prices testing 20858.
MC
LOW
UR
E
55336
OPEN
55400
HIGH
55524
VERFU
RE CNG
55478
% CNG
OI
15262
3324
0.32
VOLUME
P.P. 55446
SUP 1 RES 1
55368 55556
SUP 2 RES 2MCXS
I
Silver prices ended firm Saturday after falling Friday after a positive report on the economy sent
investors searching for riskier assets after trading higher earlier in the day on concern that Portugal
may have to seek a bailout and escalating unrest in Libya and the Middle East fuelled demand for
precious metals. Silver is higher this week at 55478. The strong up leg reached to 56555. The Gold
Silver ratio is closing as a bearish candle having dropped from last weeks 39.97 close to current
38.39. We broke the 1998 low of 39.09 thus exceeding our long term target. Risk remains lower in
176
INTRADAY LEVELS
55258 55634
SUP 3 RES 3
55180 55744
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the ratio. Now technically market is trading in the range as RSI for 18days is currently indicating
70.78, where as 50DMA is at 50016.3 and silver is trading above the same and getting support at
55368 and below could see a test of 55258 level, and resistance is now likely to be seen at 55556, a
move above could see prices testing 55634.
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8/6/2019 Share Tips Expert Commodity Report 28032011
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OPEN
4736
HIGH
FUTURE 4745
LOW
4736CLOSE
4742
% CNG
0.15
VOLUME
CRUDE
1689
OI
16153
RE CNG
7
INTRADAY LEVELS
Oil recovered Saturda after rices fell Frida on concern that the Euro ean debt situation and the P.P. 4741
SUP 1 RES 1
4737 4746
SUP 2 RES 2
4732 4750
SUP 3 RES 3
4728 4755
MC
crisis in Japan will curb fuel demand. Oil slipped as EU leaders acceded to German demands to make
smaller upfront payments for the support fund. Libyas crude exports may be curbed for months
because of sanctions and damage to production facilities, the International Energy Agency said. Now
technically market is trading in the range as RSI for 18days is currently indicating 58.47, where as
50DMA is at 4505.78 and crude is trading above the same and getting support at 4737 and below
could see a test of 4732 level, And resistance is now likely to be seen at 4746, a move above could
see prices testing 4750.
TUR
EOPEN
438.5
HIGH
439.4LOW
438.1
PPERFU 439.1
% CNG
0.14
VOLUME
1701
OI
19145
RE CNG
P.P. 438.9
SUP 1 RES 1
438.3 439.6
SUP 2 RES 2MCXC
O
Copper ended settled flat as investors continued to weigh the economic impact from Japan's nuclear
catastrophe and a worsening debt crisis in Europe. China's physical metals market is still
demonstrating no clear signs of aggressive restocking, which also helped reverse the upward metals
had built up since the Japanese earthquake and tsunami prompted expectations of higher demand
for reconstruction efforts. Chile's Codelco said its 2010 output dipped but should be steady this year,
and expects strong Chinese demand, Japan's recovery after a natural disaster, as well as new uses
0.6
INTRADAY LEVELS
437.6 440.2
SUP 3 RES 3
437.0 440.9
to stoke demand. In yesterday's trading session copper has touched the low of 438.1 after opening
at 438.5, and finally settled at 439.1. For today's session market is looking to take support at 438.3,
a break below could see a test of 437.6 and where as resistance is now likely to be seen at 439.6, a
move above could see prices testing 440.2.
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OPEN
106
HIGH
UTUR
E106.3
LOW
106CLOSE
106.2
% CNG
0.09
VOLUME
X
ZINC
361
OI
6389
RE CNG
0.1
INTRADAY LEVELS
P.P. 106.2
SUP 1 RES 1
106.0 106.3
SUP 2 RES 2
105.9 106.5
SUP 3 RES 3
105.7 106.6
MC
su n ng an me ng o, apan s op z nc sme er, sa wou resor o mpor s o
base metal as its 110,000 tonne-a-year Hachinohe zinc smelter in northern Japan would
probably remain shut for a while after the quake and tsunami damaged the facility. In
yesterday's trading session zinc has touched the low of 106 after opening at 106, and finally
settled at 106.2. For today's session market is looking to take support at 106, a break below
could see a test of 105.9 and where as resistance is now likely to be seen at 106.3, a move
above could see prices testing 106.5.
UR
EOPEN
1216
HIGH
1217LOW
1213.2
KELFU 1216.7
% CNG
0.24
VOLUME
657
OI
5873
RE CNG
P.P. 1216
SUP 1 RES 1
1214 1218
SUP 2 RES 2MCXN
I
2.9
INTRADAY LEVELS
Nickel yesterday traded with the positive node and settled 0.24% up at 1216.7 after prices
pressured on Friday on weakening trend at the London Metal Exchange, subdued demand from alloy
maker in the spot market led to the decline in nickel prices. In yesterday's trading session nickel has
touched the low of 1213.2 after opening at 1216, and finally settled at 1216.7. For today's session
1212 1219
SUP 3 RES 3
1210 1222
Page No. 4
market is looking to take support at 1214.3, a break below could see a test of 1211.8 and where as
resistance is now likely to be seen at 1218.1, a move above could see prices testing 1219.4.
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8/6/2019 Share Tips Expert Commodity Report 28032011
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ROPEN
116.9
HIGH
UMFU
T117.3
LOW
116.9CLOSE
117.2
VOLUME
% CNG
0.21
LUMINI
0.25
INTRADAY LEVELS
1863
RE CNG
OI
72
P.P. 117.1
SUP 1 RES 1
117.0 117.4
SUP 2 RES 2
116.7 117.5
SUP 3 RES 3
116.6 117.8MCX
There was a big oversupply of aluminium, with brimming inventories in LME warehouses. Data
showed aluminium headline inventories fell 5,925 tonnes to 4,602,950 tonnes, but remain less than
a percent from record highs. Aluminium yesterday traded with the positive node and settled 0.21%
up at 117.2. In yesterday's trading session aluminium has touched the low of 116.9 after opening at
116.9, and finally settled at 117.2. For today's session market is looking to take support at 117, a
break below could see a test of 116.7 and where as resistance is now likely to be seen at 117.4, a
move above could see prices testing 117.5.
199.7
193.3TURE
OPEN
193.3
HIGH
LOW
% CNG
197.4
.GAS
F2.53
5679
RE CNG
OI
VOLUME
2771
P.P. 196.8
SUP 1 RES 1
193.9 200.3
SUP 2 RES 2
CXNA
5
INTRADAY LEVELS
Natural gas rose to the highest level in more than seven weeks as forecasts showed colder-than-
normal weather, boosting demand for the heating fuel. The number of gas drilling rigs rose this week
after dropping to the lowest level since Jan. 29, 2010 in the previous week. The stockpile decrease
was smaller than the five-year average withdrawal for the week of 17 billion cubic feet, department
data show. A surplus to the five-year average rose to 2.2 percent from 1.4 percent the previous
'
190.4 203.2
SUP 3 RES 3
187.5 206.7
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wee . In yester ay s tra ing session natura gas as touc e t e ow o 193.3 a ter opening at
193.3, and finally settled at 197.4. For today's session market is looking to take support at 193.9, a
break below could see a test of 190.4 and where as resistance is now likely to be seen at 200.3, a
move above could see prices testing 203.2.
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ACTIVE SPREAD UPDATE
DAILY SPREAD IN GOLD - MCX DAILY SPREAD IN SILVER - MCX
MONTH RATE APRIL JUNE AUG MONTH RATE MAY JULY SEPT
APRIL 20829 269 588 MAY 55478 701 1345
JUNE 21098 319 JULY 56179 644AUG 21417 SEPT 56823
Spread between Silver MAY & JUL contracts yesterday
ended at 701, we have seen yesterday that the silver
market had traded with a positive node and settled
0.32% up. Spread yesterday traded in the range of 672 -
759.
Spread between Gold APR & JUN contracts yesterday
ended at 269, we have seen yesterday that the gold
market had traded with a positive node and settled 0.2%
up. Spread yesterday traded in the range of 269 - 295.
MONTH RATE APRIL MAY JUNE MONTH RATE APRIL JUNE
APRIL 4742 57 103 APRIL 439.1 5.6
MAY 4799 46 JUNE 444.7
JUNE 4845
DAILY SPREAD IN CRUDE - MCX DAILY SPREAD IN COPPER - MCX
Sprea etween copper APR & JUN contracts yester ay
ended at 5.6, we have seen yesterday that the copper
market had traded with a positive node and settled
0.14% up. Spread yesterday traded in the range of 5.5 -
5.65.
DAILY SPR EAD IN NICKEL - MCXARKET
DAILY SPREAD IN ZINC - MCX
Sprea etween cru e MAR & APR contracts yester ay
ended at 57, we have seen yesterday that the crude
market had traded with a positive node and settled 0.15%
up. Spread yesterday traded in the range of 57 - 67.
MONTH MONTH
MARCH 106.2 1.3 MARCH 1216.7 8.8
APRIL 107.5 APRIL 1225.5
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 0.09%
up. Spread yesterday traded in the range of 1 - 1.3.
Spread between nickel MAR & APR contracts yesterday
ended at 8.80, we have seen yesterday that the nickelmarket had traded with a positive node and settled
0.24% up. Spread yesterday traded in the range of 7.10 -
9.PREAD
MONTH RATE MARCH APRIL MONTH RATE APRIL MAY
MARCH 197.4 5.9 APRIL 1116.3 -144.4
APRIL 203.3 MAY 971.9
DAILY SPREAD IN NAT. GAS - MCX DAILY SPREAD IN MENTHOL - MCX
S read between natural as MAR & APR contracts S read between menthol oil APR & MAY contracts
yesterday ended at 5.90, we have seen yesterday that the
natural gas market had traded with a positive node and
settled 2.53% up. Spread yesterday traded in the range of4.5 - 6.6.
yesterday ended at -144.40, we have seen yesterday that
the menthol oil market had traded with a positive node
and settled 1.4% up. Spread yesterday traded in therange of -146.9 to -139.3.
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DAY TIME CURRENCY Fo re cast P re viou s
6:00pm USD 0.002 0.001L
Core PCE Price Index m/ m
DATA
6:00pm USD 0.006 0.002
6:00pm USD 0.005 0.01
7:30pm USD 0 -0.0288:30pm EUR 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0ONOMI
C
DATA
Personal Income m/ m
Pending Home Sales m/ mECB President Trichet Speaks
0
Personal Spending m/ m
Mo n 0
0
0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
EC 0
0
0
0
E
World wheat production will total 676 million metric tons in 2011, a growth of 3.4% from last year's levels but still
below the bumper harvests of 2008 and 2009, according Wednesday to a report by the United Nations' food body.
Wheat plantings in many countries have increased or are expected to increase this year in response to strong prices,
the Food and Agriculture Organization noted in its latest edition of the Crops Prospects and Food Situation report. At
the same time, yield recoveries are forecast in areas that were affected by drought in 2010, the Russian Federation in
particular, the FAO report noted. The majority of global coarse grains and paddy crops are still to be planted, making
it difficult to forecast total cereal production for 2011, the report added.
CA
N
U
Saudi Arabia, the world's top oil exporter, will step up its use of crude for power generation in 2011, Saleh Alawaji,
the country's junior electricity minister, said on Thursday, as the nation balances use of a new oilfield against
obligations to oil cartel OPEC. Saudi oil industry figures seen by Reuters showed the kingdom estimated direct use of
fuel for ower eneration to rise to 540 000 b d this ear from 403 000 b d last ear. Usin more crude to enerate
WSYO
, , .
electricity allows the kingdom to utilise fresh output from a major new oilfield while holding firm to its OPEC
commitments to curb exports. It also helps the kingdom meet stricter environment rules. Although sitting on the
world's biggest oil and gas reserves, Saudi Arabia is struggling to keep pace with rapidly rising power demand as
petrodollars have fueled a region-wide economic boom as well as rapid population growth. And the kingdom is
presently weighing up nuclear options which it sees as a good option for power generation and desalination despite
the recent crisis in Japan, Alawaji said.
NThe monetary policy will continue to be tight to curb high inflation, the prime minister's top economic adviser said on
Friday, forecasting headline inflation to ease to 7.5 percent in March. "The inflation rate continues to be high and
therefore the monetary policy will have to remain tight," C. Rangarajan, chairman of the prime minister's Economic
Advisory Council, told. The RBI has raised policy rates eight times in the last 12 months as headline inflation stays
way above its comfort level of around 5 percent. The bank has warned of more inflationary pressures, prompting
analysts to expect further rounds of monetary tightening this year. He also said the current account deficit in
2010/11 would be only slightly above 2.5 percent of GDP and expected capital inflows of around $60 billion in the
year would be enough to finance it.
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