share tips expert commodity report 23032011

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


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


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

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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.

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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.

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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.



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

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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.



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


the central bank's twin repo auction on Monday.


8/8

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share tips expert commodity report 23032011

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