✍ MCX DAILY LEVELS DAILY
ALUMINIUM COPPER
EXPIRY DATE
R4
R3
R2
R1
29 FEB 2016 113.60 111.40 109.20 108.40
PP
S2
S3
S4
106.20 104.80 102.60
100.40
29 FEB 2016 328.05 324.05 320.05 318.05 316.05 314.05 312.05 308.05
304.05
2437
2329
CRUDE OIL
18 MAR 2016
2545
2005
1897
GOLD
05 APR 2016
30525 30177 29829 29672 29481 29324 29133 28785
28437
LEAD
29 FEB 2016 129.40 126.15 122.90 121.10 119.65 117.80 116.40 113.15
109.90
NATURAL GAS 28 MAR 2016 146.60 141.50 126.40
2266
107
S1
133
2221
2158
2113
131.30 127.90 126.20 121.10
NICKEL
29 FEB 2016 646.50 626.60 606.70 599.40 586.80 579.50 566.90
SILVER
04 MAR 2016 38867 38419 37971 37744 37523 37296 37075 36627
36179
29 FEB 2016 128.65 125.50 122.35 121.20 119.20
109.75
ZINC
118
547
116
116.05 112.90
527.10
✍ MCX WEEKLY LEVELS WEEKLY
ALUMINIUM COPPER CRUDE OIL
EXPIRY
R4
29 FEB 2016 120.90
R3
R2
116
111
R1
320
18 MAR 2016
2333
2696
2463
S1
S2
S3
109.30 106.10 104.40 101.10 96.15
29 FEB 2016 343.65 333.80 323.95 2929
PP
314.10 310.15 304.25 294.40 2230
2100
1997
S4
91.20 284.55
1764
1531
GOLD
05 APR 2016 32831 31618 30405 29960 29192 28747 27979 26766
25553
LEAD
29 FEB 2016 151.30 141.20 131.10 125.20
121
115.10 110.90 100.80
90.70
NATURAL GAS
28 MAR 2016 163.90 153.60 143.30 136.50
133
126.20 122.70 112.40
102.10
NICKEL
29 FEB 2016 732.10 680.10 628.10 610.10 576.10 558.10 524.10 472.10
420.10
SILVER
04 MAR 2016 40267 39294 38321 37919 37348 36946 36375 35402
34429
ZINC
29 FEB 2016 142.40 134.10 125.80 122.90 117.50 114.60 109.15 100.90
92.60
✍ FOREX DAILY LEVELS DAILY
EXPIRY DATE
R4
R3
R2
R1
PP
S1
S2
S3
S4
USDINR
29 MAR 2016 69.7 68.50 5
69.20
69.05
68.90
68.80
68.65
68.35
68.05
GBPINR
29 MAR 2016 77.6 77.35 5
77
76.80
76.70
76.50
76.35
76.05
75.70
EURINR
29 MAR 2016 100. 100.05 99.35 75
99.10
98.70
98.40
98
97.30
96.60
JPYINR
29 MAR 2016 61.6 61.25 5
60.80
60.60
60.40
60.15
60
59.55
59.15
R2
R1
PP
S1
S2
S3
S4
✍ FOREX WEEKLY LEVELS DAILY
EXPIRY DATE
R4
R3
USDINR
29 MAR 2016 70.7 70.10 0
69.50
69.20
68.85
68.60
68.25
67.65
67
GBPINR
29 MAR 2016 80.4 79.25 0
78.10
77.35
76.95
76.20
75.80
74.65
73.50
EURINR
29 MAR 2016 103. 102.15 100.55 99.70 75
99
98.10
97.40
95.80
94.20
JPYINR
29 MAR 2016 64.2 62.85 0
60.25
59.65
58.90
57.60
56.25
61.55
60.95
✍ NCDEX DAILY LEVELS DAILY
EXPIRY DATE
R4
R3
R2
R1
PP
S1
S2
S3
S4
SYOREFIDR
18 MAR 2016
616
607
598
593
589
584
580
571
562
SYBEANIDR
18 MAR 2016
3870
3831
3792
3771
3753
3732
3714
3675
3636
RMSEED
20 APR 2016
4162
4105
4048
4017
3991
3960
3934
3877
3820
JEERAUNJHA
18 MAR 2016
15875 15375 14865
14560
14360 14055 13850 13350
12845
CHANA
20 APR 2016
4529
4442
4355
4305
4268
4218
4181
4094
4007
✍ NCDEX WEEKLY LEVELS WEEKLY
EXPIRY DATE
R4
R3
R2
R1
PP
S1
S2
S3
S4
SYOREFIDR
18 MAR 2016
643
630
617
609
604
596
591
578
565
SYBEANIDR
18 MAR 2016
3951
3885
3819
3784
3753
3718
3687
3621
3555
RMSEED
20 APR2016
4412
4278
4144
4065
4010
3931
3876
3742
3608
JEERAUNJHA
18 MAR 2016
17560 16550 15545
14890
14530 13885 13520 12510
11500
CHANA
20 APR2016
4883
4376
4304
3725
4690
4497
4183
4111
3918
MCX - WEEKLY NEWS LETTERS INTERNATIONAL NEWS
SPDR Gold Trust GLD, the world's largest gold-backed exchange Traded fund, said its holdings stood at 732.96 up 19.33 tonnes, from previous business day. Holdings of the largest silver backed exchange-tradedfund (ETF), New York's iShares Silver Trust SLV, stood at 9671.69 tonnes, remain unchanged from previous
Gold prices were poised to form a "golden cross", a closely-watched technical signal, potentially giving a further boost to bullion's biggest rally in years amid growing concerns about a global economic slowdown, technical analysts said on Friday.
Aluminium Bahrain (Alba), owner of one of the world's largest aluminium smelters, has cut its dividend for
Chinese zinc refineries have agreed to take sharply lower fees for processing raw material into metal as a long awaited shortage rears its head following the closure of several giant mines, industry sources said this week.
✍ Bullion The Centre has called a meeting on Monday to finalize a proposal to set up a National Bullion Board, an umbrella body to implement gold policies and reforms, as well as a gold spot exchange. Industry stakeholders, representatives from the Indian Institute of Management Ahmadabad (IIM-A)'s India Gold Policy Centre and officials from the commerce and finance ministry will attend the meeting, which comes a week ahead of the Union Budget for 2016-17. According to sources, finance minister Arun Jaitley will announce several measures in the meeting, intended to reform the gold trade. Read our full coverage on Union Budget 2016 Apart from these two major issues, the finance ministry will also consider duty on dore (unrefined gold) imports, in view of some cases of misuse of concessions in import duty by some refineries in excise-free zones. The move is aimed at ending a one per cent arbitrage by way of lower duty to refineries in excise-free zones. According to sources, the ministry is also considering a proposal to relax the Gold Monetisation Scheme (GMS) to ensure a better response. The Central Board of Direct Taxes had clarified that during raids by the income tax department, gold up
to 500g cannot be seized. The finance ministry might allow such gold to be monetize under GMS without producing evidence of purchase. Sudheesh Nambiath, lead analyst-precious metals, GFMS, Thomson Reuters, however, says certain factors might be missing in deliberation on gold policies. "In these deliberations, I haven't noticed willingness by policymakers to allow banks to buy gold bars from the market, allow banks to export refined gold bars and make banks operate as a bullion bank, instead of just being a channelization agent. Unless these basics are worked out, the concept of a spot gold exchange or the need to have a bullion board is not worth it."
Gold prices rallied sharply in yesterday’s session as the softness in equities clubbed with the dovish tone of the Fed policy meet helped the gold to build on the gains. Some of the Fed members sounded dovish and acknowledged that the slowdown in the emerging markets and global market uncertainty can weigh on their economy’s recovery. Also the optimism remained higher in the speculative positions that showed a 35 percent increase to 98,428 contracts – fresh buying accounted for 24,786 contracts. The weakness in the dollar after the fed minutes has helped gold to move up, however, the prices are once again trading lower from the previous session’s high suggesting that the lack of conviction in the investors to take it beyond the technical resistance levels. The markets will be eyeing for CPI data from US today for fresh cues on inflation that remains one of the catalyst in deciding the fate of the rates going ahead.
✍Energy C showed just 11 cents gains, registering at $30.77/bbl, whereas Brent crude oil moved down by 22 cents, registering at $34.28/bbl .MCX crude prices managed gaining Rs.11, registering at Rs.2125/bbl Total crude stockpiles in the US region moved up more than 504 million barrels, whereas stocks at Cushing also showed third weekly buildup. From products side, distillates stocks moved up for the second consecutive week and thus fading seasonal demand was the major concern. Gasoline moved up for the 14th straight week and within 7 weeks more than 37 million barrels buildup was observed. Weekly US crude productions were below 9.20 mbpd for the second consecutive week. Natural Gas futures tumbled by over 3 per cent in the domestic market on Friday as investors and speculators exited positions in the energy commodity amide a weak trend in the overseas market as forecasts calling for less cooler weather in the US Northeast over the next two weeks threatened to curb the demand outlook for the heating fuel in the world’s biggest gas consuming nation. Latest weather forecasting models signaled higherthan-normal temperatures in the US later in February and in early March, threatening to curb demand for gasfired heating at offices and homes. About 49 per cent of US households use natural gas for heating purposes. November to March is the peak US gas heating season. At the MCX, Natural Gas futures for February 2016 contract closed at Rs 123.8 per mm Btu, down by 3.28 per cent, after opening at Rs 128, against the previous closing price of Rs 128. It touched an intra-day low of 123.5
✍ Metals Copper prices rose by 0.33 per cent on Friday in the midst of hopes that fresh measures by China, the world’s biggest metals consumer, to bolster growth in the country’s economy may lift demand. The Chinese central bank relaxed curbs on the amount that banks can pay as deposits and charge for loans, while the country’s cabinet discussed reducing the minimum ratio of provisions that lenders can set aside for bad loans. A t the MCX, copper futures for February 2016 contract were trading at Rs.315.85 per 1 kg, up by 0.33 per cent, after opening at Rs. 314.90 against the previous closing price of Rs. 314.80. It touched the intra-day high of Rs. 318.05 till the trading. (At 4.55 PM today). Prices also rose due to the decline in the copper stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME copper stocks fell by 1425 metric tonnes to 208525 metric tonnes as on February 19, 2016.
As the Chinese data showed a gentle decline, though better than the previous data, some negativity was observed in the sector. As per Nickel International Study Group, global nickel market observed fourth straight year oversupply in 2015, with a surplus of 80,700 tones. Today, London copper edged up and is all set to show fourth weekly gain in five. Asian markets today during early morning session are showing some tad losses. The Chinese environment minister has mentioned of closing heavily polluting zinc and lead smelters. Indonesian minister referring to country’s revision in mining laws mentioned of changing rules that bans exports of unprocessed minerals including nickel ore and bauxite. Today, US CPI data would get released during late evening upon which the market is keeping an eye for the inflation details.
Amid weak global cues and muted domestic demand, lead prices were down by 0.38% to Rs 118.85 per kg in futures trading today as participants cut down their bets. Lead for delivery this month declined by 45 , or 0.38% to Rs 118.85 per kg in a business turnover of 244 lots. On similar lines, the metal for delivery in March contracts declined by 40 paise or 0.33% to Rs 119.40 per kg in 17 lots. Market-men said the fall in lead futures was due to a weak trend overseas as industrial metals retreated and sluggish demand at the domestic spot markets from battery-makers.
✍ NCDEX - WEEKLY NEWS LETTERS Almost a month after having suspended derivatives trading in castor, the National Commodity and Derivatives Exchange (NCDEX) wishes to re-launch it. Before doing so, it has decided to review the systems for surveillance and risk management, with a comprehensive audit of what had gone wrong, internal audits of four members who were put on square off mode and forensic audit of whole episode what went wrong.A forensic audit (forensic here means the results are suitable to be used in a court of law) began last week and its report is expected next month. It will look into all aspects of castor seed futures, including the trading pattern, whether there was an earlier use of proxies to build positions and so on.
NCDEX suspended castor seed futures on January 27. The decision met with several complaints of favoring the long side players, as castor prices were falling and some big position holders were not able to pay the margin money. The exchange after suspending all castor contracts, which were contributing a fifth of its volumes, also put four members’ under 'compulsory square off mode'; they were not allowed to enter any new
positions in any commodity. NCDEX says it is also strengthening its surveillance systems and has asked its people to track developments in the physical market, as “that is much bigger than futures and developments there impact derivatives�.The exchange was observing position build-up two weeks before the suspension. The February contract was trading at a discount and the March and April ones at a premium. However, traders were seen selling February futures.The exchange has also set up a grievance redressal cell on complaints relating to castor seed futures. Also, NCDEX e markets Ltd, a subsidiary for spot market trading, has offered its platform for sale and delivery of castor seed stocks held in exchange-approved warehouses.With castor contracts being suspended by National Commodity and Derivatives Exchange (NCDEX) for now, daily volumes of the commodity have moved up sharply on the regional Rajkot Commodity Exchange (RCX).
After NCDEX suspended castor contracts from January 27, volumes on RCX have increased to 5,310 tonnes from 920 tonnes in two weeks. What's more, in terms of value, the daily turnover of the exchange has moved up eight-fold, from Rs two core to Rs 16 crore, during this period.Currently, there are two exchanges that run castor seed contracts in India. but with NCDEX suspending the contracts, several traders or participants mainly from Gujarat resorted to trading at RCX, which resulted in volumes rising substantially.After NCDEX closed the castor seed contracts, RCX turned out to be the only destination for traders in India for the same and this resulted in increased volumes . NCDEX suspended futures trading in castor seed on January 27, in a bid to maintain market equilibrium, safeguard market integrity and in general interest. It should be mentioned here that RCX is not an electronic platform and runs contract in traditional way. Trading method in regional commodity exchange is traditionally called 'ring'. It is an open space where sellers loudly offer their stocks and similarly buyers present in the ring area demand for the needed quantity they wish to buy.There are 101 registered members in RCX but only 12 are active. The exchange has about 300 registered non-members who are trading through registered members. Activity of non members has increased in recent times which also reflects on the increased volumes.
Jeera prices closed lower by 2.43 per cent on Friday at the National Commodity & Derivatives Exchange Limited (NCDEX) on account of a surge in the supply from the producing regions in the midst of a decline in the export demand. At the NCDEX, jeera futures for March 2016 contract closed at Rs. 14,265 per quintal, down 2.43 per cent, after opening at Rs. 14,625 against the previous closing price of Rs. 14,620. It touched the intra-day low of Rs. 14,165.
Mustard Seed prices closed lower by 0.67 per cent on Friday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the profit booking by the traders on account of the weak crushing and export demand of mustard meal. At the NCDEX, Mustard Seed futures for April 2016 contract closed at Rs. 3,984 per quintal, down by 0.67 per cent, after opening at Rs. 4,017 against the previous closing price of Rs. 4,011. It touched the intra-day low of Rs. 3,966. Sentiment weakened further due to the sluggish export demand as a result of the weak demand for the commodity.
Chana ends lower as demand weakens Chana prices closed lower by 1.96 per cent on Thursday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the steady sowing progress of pulses along with high supplies in major producing states. At the NCDEX, chana futures for April 2016 contract closed at Rs. 4,302 per quintal, down by 1.96 per cent, after opening at Rs. 4,400 against the previous closing price of Rs. 4,388. It touched the intraday low of Rs. 4,261
LEGAL DISCLAIMER
This Document has been prepared by Ways2Capital (A Division of High Brow Market Research Investment Advisor Pvt Ltd). The information, analysis and estimates contained herein are based on Ways2Capital Equity/Commodities Research assessment and have been obtained from sources believed to be reliable. This document is meant for the use of the intended recipient only. This document, at best, represents Ways2Capital Equity/Commodities Research opinion and is meant for general information only. Ways2Capital Equity/Commodities Research, its directors, officers or employees shall not in any way to be responsible for the contents stated herein. Ways2Capital Equity/Commodities Research expressly disclaims any and all liabilities that may arise from information, errors or omissions in this connection. This document is not to be considered as an offer to sell or a solicitation to buy any securities or commodities.
All information, levels & recommendations provided above are given on the basis of technical & fundamental research done by the panel of expert of Ways2Capital but we do not accept any liability for errors of opinion. People surfing through the website have right to opt the product services of their own choices.
Any investment in commodity market bears risk, company will not be liable for any loss done on these recommendations. These levels do not necessarily indicate future price moment. Company holds the right to alter the information without any further notice. Any browsing through website means acceptance of disclaimer.