Weekly commodity report 30 sep 2013 by epic research

MCX COMMODITY WEEKLY REPORT WWW.EPICRESEARCH.CO Epic Research Private Limited Corporate Office 411 Milinda Manor (Suites 409 - 417) 2 RNT MargOpp Central Mall Indore (M.P.) Hotline: +91 731 664 2300 / 2427 / 2230 Alternate: +91 731 664 2320 / 2226 +91 97521 99966 Or give us a missed call at 026 5309 0639

EPIC Research Report This Report contains all the study and strategy required by trader to trade on MCX commodities. Refer to the chart attacted in the Report to take proper Trading Decision.

Date: 30-September-2013

MCX Weekly Newsletter (30-September-2013)

WEEKLY COMMODITY WRAP…..!!!!!

Precious metals

Base metals LME base metals traded steady this week, deriving courage from positive macroeconomic numbers in US and China.

However, looming debt ceiling deadline in US is keeping a lid on the prices.

On fundamental front, ICSG stated that the global copper market during the first half of this year was in a surplus of 183,000 tons on a seasonally adjusted basis.

On inventory side, there has been persistent drawdown from LME Copper warehouse stocks, whereby stockpiles have declined by more than 50,000 tons during the course of September.

Persistent improvement in China’s manufacturing activity And trade figures conveys that economy seems to be Bottoming out.

However, the underlying demand scenario for most of the metals still seems to be uninspiring. In addition, uncertainty over the monetary policy decision in US can keep the bulls on the back foot.

We expect non-ferrous metals to persist with a range bound trading pattern during the course of next few weeks.

Precious metals inched lower this week, as concerns regarding tapering of monetary stimulus by US Federal Reserve continue to linger.

Voices from the members of the Federal Reserve convey that the apex bank can scale down the stimulus in October itself. In the latest, Federal Reserve Bank of New York President Dudley stated that Fed may start pulling back on the asset purchase program later this year and end it by the middle of next year.

However, the downside in the precious pack has been limited as the uncertainty over the debt ceiling negotiations in US provided some support.

US Congressional Budget Office has provided the deadline of October 22nd, whereby the debt limit could be hit In the short run, ambiguity over Fed’s stance on monetary Stimulus may discourage market participants from venturing in two sizable positions.

Effectively, the markets can lack clarity as far as price direction is concerned. However, we infer that tapering is inevitable, whether it is October, November or December remains a question.

It is just a matter of time, whereby persistent string of macroeconomic numbers can trigger this move. Meanwhile, markets will be monitoring the debt ceiling negotiations in US, whereby no concrete progress is yet being attained. We believe that US Congress will eventually reach a consensus on the debt ceiling. On price direction, we doubt whether gold will be able to sustain at current levels and prefer to sell on any decent bounce.

WWW.EPICRESEARCH.CO CALL: +917316642300

MCX Weekly Newsletter (30-September-2013)

GOLD MCX WEEKLY TECHNICAL VIEW

TRADING STRATEGY: GOLD MCX is trading too volatile and has faced correction last week. Momentum seem to be in favour of bulls and also USDINR may face correction this week.

Immedaite Resistance @31200 and Support @29300 1. Buy Gold on dips @30620-30650 TGTS 30850/31000 SL 30500 2. Buy Gold Above 31200 TGTS 31350/31500 SL 31000

WWW.EPICRESEARCH.CO CALL: +917316642300

MCX Weekly Newsletter (30-September-2013)

SILVER MCX TECHNICAL VIEW

TRADING STRATEGY: SILVER MCX faced correction last week. Momentum seem to be in favour of bears and also USDINR may face correction this week. Hence fresh Short Positions can be created. Immediate Resistance @51500 and Support @48850 1. Silver buy above 50500 TGTS 51000/51500 SL 50000 2. Silver sell below 48400 TGTS 48000/47500 SL 48800

WWW.EPICRESEARCH.CO CALL: +917316642300

MCX Weekly Newsletter (30-September-2013)

WWW.EPICRESEARCH.CO CALL: +917316642300

MCX Weekly Newsletter (30-September-2013)

DISCLAIMER The information and views in this report, our website & all the service we provide are believed to be reliable, but we do not accept any responsibility (or liability) for errors of fact or opinion. Users have the right to choose the product/s that suits them the most.

Sincere efforts have been made to present the right investment perspective. The information contained herein is based on analysis and up on sources that we consider reliable.

This material is for personal information and based upon it & takes no responsibility The information given herein should be treated as only factor, while making investment decision. The report does not provide individually tailor-made investment advice. Epic research recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a financial adviser. Epic research shall not be responsible for any transaction conducted based on the information given in this report, which is in violation of rules and regulations of NSE and BSE. The share price projections shown are not necessarily indicative of future price performance. The information herein, together with all estimates and forecasts, can change without notice. Analyst or any person related to epic research might be holding positions in the stocks recommended. It is understood that anyone who is browsing through the site has done so at his free will and does not read any views expressed as a recommendation for which either the site or its owners or anyone can be held responsible for . Any surfing and reading of the information is the acceptance of this disclaimer.

All Rights Reserved.

Investment in equity & bullion market has its own risks.

We, however, do not vouch for the accuracy or the completeness thereof. we are not responsible for any loss incurred whatsoever for any financial profits or loss which may arise from the recommendations above epic research does not purport to be an invitation or an offer to buy or sell any financial instrument. Our Clients (Paid Or Unpaid), Any third party or anyone else have no rights to forward or share our calls or SMS or Report or Any Information Provided by us to/with anyone which is received directly or indirectly by them. If found so then Serious Legal Actions can be taken.

WWW.EPICRESEARCH.CO CALL: +917316642300