✍ MCX DAILY LEVELS DAILY
EXPIRY
R4
R3
R2
R1
PP
S1
S2
S3
S4
98.40
97.05
29 FEB 2016 312.65 309.05 305.45 303.35 301.85 299.75 298.25 294.65
291.05
DATE
ALUMINIUM COPPER CRUDE OIL
29 JAN 2016 105.15 103.80 102.45 101.60 101.10 100.25 99.75
1840
1701
GOLD
05 FEB 2016 26726 26544 26362 26261 26180 26079 25998 25816
25634
LEAD
29 JAN 2016 116.60 114.80
111.90 111.20 110.10 109.40 107.60
105.80
154.10 150.20 148.60 146.30 144.70 142.40 138.50
134.60
19 FEB2016
NATURAL GAS 24 FEB 2016
2535
158
2396
2257
113
2207
2118
2068
1979
NICKEL
29 JAN 2016 641.40 623.60 605.80 594.40
576.60 570.20 552.40
534.60
SILVER
04 MAR 2016 36392 35747 35102 34689 34457 34044 33812 33167
32522
ZINC
29 JAN 2016 108.90 106.80 104.60 103.30 102.50 101.20 100.30 98.20
96.05
588
✍ MCX WEEKLY LEVELS WEEKLY
ALUMINIUM COPPER CRUDE OIL
EXPIRY
R4
R3
R2
R1
PP
S1
S2
S3
S4
97.85
94.85
91.85
29 FEB 2016 326.25 317.55 308.85 305.05 300.15 296.35 291.45 282.75
274.05
29 JAN 2016 109.85 106.85 103.85 102.30 100.85 99.30
2608
2342
2250
2076
. 1984
1544
1278
GOLD
05 FEB 2016 28620 27822 27024 26592 26226 25794 25428 24630
23832
LEAD
29 JAN 2016 121.25 117.70 114.15 112.45 110.60 108.90 107.05 103.50
99.95
NATURAL GAS
24 FEB 2016 170.70 162.50 154.30 150.70 146.10 142.50 137.90 129.70
121.50
NICKEL
29 JAN 2016 658.80 634.50 610.20 596.50 585.90 572.20 561.60 537.30
513
SILVER
04 MAR 2016 37413 36385 35357 34817 34329 33789 33301 32273
31245
26 JAN 2016 115.90 111.10 106.35 104.20 101.60 99.45
87.40
ZINC
19 FEB 2016 2874
1810
96.85
92.10
WEEKLY MCX CALL
SELL GOLD FEB BELOW 26200 TGT 25900 SL 26511 BUY ZINC JAN ABOVE 104 TGT 107 SL 101.90 PREVIOUS WEEK CALL
BUY ZINC JAN ABOVE 102 TGT 104 SL 99.95 - SL
✍ FOREX DAILY LEVELS DAILY
EXPIRY
R4
R3
R2
R1
PP
S1
S2
S3
S4
DATE
USDINR
25 FEB 2016 69.1 68.75 0
68.40
68.20
68.10
67.90
67.75
67.45
67.10
GBPINR
25 FEB 2016 75.3 74.80 0
74.30
73.95
73.80
73.45
73.30
72.80
72.30
EURINR
25 FEB 2016 99
98.30
97.65
97.35
97.05
96.70
96.40
95.75
95.10
JPYINR
25 FEB 2016 59.4 58.85 5
58.25
57.85
57.65
57.20
57
56.40
55.80
R2
R1
PP
S1
S2
S3
S4
✍ FOREX WEEKLY LEVELS DAILY
EXPIRY
R4
R3
DATE
USDINR
25 FEB 2016 70.1 69.50 5
68.85
68.40
68.15
67.75
67.50
66.85
66.20
GBPINR
25 FEB 2016 78.7 77.20 0
75.65
74.60
74.10
73.10
72.60
71.05
69.50
EURINR
25 FEB 2016 99.9 5
99
98.05
97.55
97.10
96.60
96.10
95.15
94.20
JPYINR
25 FEB 2016 62.5 5
61
59.45
58.45
57.95
56.90
56.40
54.85
53.30
WEEKLY FOREX CALL
BUY GBPINR JAN AABOVE 97 TGT 97.50 SL 96.48 BUY EURINR JAN ABOVE 57 TGT 57.70 SL 56.30 PREVIOUS WEEK CALL
L
BUY GBPINR JAN ABOVE 97.52 TGT 98.50 SL 96.89 - NOT EXECUETD.
✍ NCDEX DAILY LEVELS DAILY
EXPIRY
R4
R3
R2
R1
PP
S1
S2
S3
S4
DATE
SYOREFIDR
19 FEB 2016
634
626
618
615
610
607
602
594
586
SYBEANIDR
19 FEB 2016 3890
3857
3824
3811
3791
3778
3758
3725
3692
4140
4095
4050
4026
4005
3981
3960
3915
3870
18 MAR 2016 14223 14008 13795 13695 13575 13480 13360 13145
12930
CHANA
20 APR 2016 4465
4405
4345
4320
4285
4260
4225
4165
4105
CASTORSEED
19 FEB 2016 3544
3490
3436
3408
3382
3354
3328
3274
3220
R4
R3
R2
R1
PP
S1
S2
S3
S4
RMSEED JEERAUNJHA
20 APR 20165
✍ NCDEX WEEKLY LEVELS WEEKLY
EXPIRY DATE
SYOREFIDR
19 FEB 2016
642
631
620
616
609
605
598
587
576
SYBEANIDR
19 FEB 2016 4120
4016
3912
3855
3808
3751
3704
3600
3496
RMSEED
20 APR 2016 4470
4326
4182
4092
4038
3948
3894
3750
3606
18 MAR 2016 15086 14606 14126 13863 13646 13383 13166 12686
12206
CHANA
20 APR 2016 4745
4595
4445
4370
4295
4220
4145
3995
3845
CASTORSEED
19 FEB 2016 4000
3809
3618
3499
3427
3308
3236
3045
2854
JEERAUNJHA
WEEKLY NCDEX CALL SELL REFSOYA FEB BELOW 610 TGT 600 SL 621.20 PREVIOUS WEEK CALL SELL SOYABEAN FEB BELOW 3769 TGT 3700 SL 3840 - CLOSED AT 3778 BUY CASTORSEED 3545 TGT 3629 SL 3459 - NOT EXECUTED
MCX - WEEKLY NEWS LETTERS INTERNATIONAL NEWS ✍ Bullion
Amid a weakening global trend and profit-booking by speculators, gold futures traded sharply lower by Rs 246 at Rs 26,346 per 10 gram today. Gold for delivery in far-month April contract drifted by Rs 246, or 0.93 per cent to Rs 26,346 per 10 gram in a business turnover of 535 lots at the Multi Commodity Exchange. In a similar fashion, the metal for delivery in February was trading down Rs 240, or 0.90 per cent to Rs 26,319 per 10 gram in 10,865 lots.Analysts said apart from profit-booking by speculators, a weak trend in the precious metals overseas, weighed on gold futures here. Meanwhile, gold prices fell 0.31 per cent to USD 1,097.80 an ounce in Singapore. Interest earned on deposits under the central government’s Gold Monetisation Scheme will not attract any tax; gain through trading or redemption will also be exempted from capital gains tax, it was officially reiterated on Sunday. This clarification, didn’t say if the tax deducted at source provision would apply to gains made by the scheme.The government also reiterated that in the course of any search operation by the income tax authorities, gold jewellery “to the extent of 500g per married lady, 250g per unmarried lady and 100g per male member of a family need not be seized". However, this notification quoted by the government doesn’t exempt depositors from disclosing the source for buying of gold. Since the launch of the scheme on November 5, 2015, a total of 900.1 kg of of gold had been mobilised as of this Wednesday. Apart from reiterating issues already clarified by the Reserve Bank, the note issued on Sunday also said the Bureau of Indian Standards (BIS) had modified the licensing condition for refiners already having an okay from the National Accreditation Board for Testing and Calibration Laboratories from the existing three years of refining experience to one year. This will increase the number of licensed refiners. BIS has on its website invited applications from the 13,000-odd licensed jewellers to each act as a collection and purity testing centre (CPTC) in the scheme, if they have a tie-up with its licensed refiners. Sectoral sources said the response by jewellers so far had been tepid. Another clarification on Sunday was: “Gold to be deposited with CPTCs/refineries can be of any purity. The CPTC/refiner will test the gold and determine its purity, which will be the basis on which the deposit certificate will be issued." This, however, doesn’t clarify the situation when refiners differ with a CPTC on purity. The government also said banks were free to hedge their positions in the case of short-term deposits under the scheme.
Taking weak cues from overseas markets, silver prices dropped by Rs 272 to Rs 34,417 per kg in futures trade on Thursday, as participants cut down their bets. In addition, profit-booking at prevailing levels by speculators weighed on silver prices. At the Multi Commodity Exchange, silver for delivery in March plunged by Rs 272, or 0.78 per cent, to Rs 34,417 per kg, in a business turnover of 8,429 lots. Similarly, the white
metal for delivery in far-month May fell by Rs 245, or 0.70 per cent, to Rs 34,768 per kg, in a business volume of 123 lots. In the international market, silver fell 0.74 per cent to USD 14.05 an ounce in London in early trade on Thursday. Traders said the fall in silver prices at futures trade was largely in tandem with a weak trend in precious metals in global markets on profitbooking by speculators.
� Crude
The oil price is set to fall further this year as supply vastly exceeds demand, with major oil exporter Iran's return to the market offsetting any production cuts from other countries, the IEA said on Tuesday."Can it go any lower?" the International Energy Agency asked in its monthly oil market report."Unless something changes, the oil market could drown in over-supply. So the answer to our question is an emphatic yes. It could go lower."The oil price this week hit lows not seen in 12 years, and is currently trading at or below 29 dollars per barrel.Iran's return to the oil market, a major reason for continued price weakness, has probably not been fully factored into prices yet, the IEA warned, contradicting many financial analysts."Iranian barrels are likely to back out similar quality sour crude from Saudi Arabia, Iraq and Russia - so producers are likely to become ever more competitive on the pricing front .Iran is facing "the not inconsiderable challenge" of finding buyers willing to take more oil into an already glutted market, the IEA said."However, if Iran can move quickly to offer its oil under attractive terms, there may be more 'pricing in' to come," it said.Even under the sanctions regime, Tehran did everything it could to ensure the country's oil sector is prepared for higher output as it strives to reclaim its spot as OPEC's second biggest producer after Saudi Arabia. Worldwide demand for oil is now expected to rise by 1.3 per cent in 2016 to 95.7 million barrels of oil, a sharp slowdown after a 1.8 per cent increase in 2015."We conclude that the oil market faces the prospect of a third successive year when supply will exceed demand by 1.0 mbd (1 million barrels per day) and there will be enormous strain on the ability of the oil system to absorb it efficiently," the IEA said.No relief should be expected from dominant OPEC member Saudi Arabia which appears to be settling in for a prolonged period of low prices as it continues to protect its market share rather than engineer any price rises, the report said.Low oil prices, while hurting both oil producers and oil companies, can often be positive for consumers and non-oil corporates and therefore for global growth. Crude oil futures extended their gains on Monday following a surge at the end of last week on short-covering and fuel demand triggered by freezing weather in parts of the northern hemisphere. Oil prices soared 10% on Friday, one of the biggest daily rallies ever, as bearish traders who had taken out record short positions scrambled to close them, betting the market's long rout may finally be over. Brent had gained eight cents to $32.26 a barrel by 0221 GMT after touching $32.69 a barrel earlier in the day. It settled at $32.18 a barrel in the previous session. US crude rose five cents to $32.24 a barrel, compared with its session-high of $32.64 and previous settlement at $32.19. “A change in investor sentiment was the key factor, with speculative short positions in WTI falling from historically high levels the previous week," ANZ said in a note on Monday, referring to US West Texas Intermediate crude. “Low crude oil prices continue to negatively impact high cost US oil producers. Indeed, recent Baker Hughes data suggested US oil explorers idled more oil rigs this week." Reuters
market analyst for commodities and energy technical Wang Tao said on Monday that Brent oil faces resistance at $32.72 per barrel, and may hover below this level for one day or retrace to support at $30.98, before rising again.
� Copper
Amid positive global cues and pick up in spot demand at the domestic markets, copper prices edged up by 0.72% to Rs 299.50 per kg in futures trading today as speculators created fresh positions. At the Multi Commodity Exchange, copper for delivery in February month rose by Rs 2.15, or 0.72% to Rs 299.50 per kg in business turnover of 841 lots.Similarly, the metal for delivery in far-month April contract traded higher by Rs 2.05, or 0.68% to Rs 304.40 per kg in 33 lots. Analysts attributed the rise in copper futures trade to a firm global trend where the metal led base metals higher. Globally, copper for delivery in three month climbed 1.2% to $4,413 a metric tonne on the London Metal Exchange.
� Nickel
Taking weak cues from global market and low demand at the domestic spot market, nickel prices dropped 0.86 per cent to Rs 610.40 per kg in futures trade today as traders cut down their bets.At Multi Commodity Exchange, nickel for delivery in current month was trading Rs 5.30, or 0.86 per cent, down at Rs 610.40 per kg in a business turnover of 1,702 lots.The metal for delivery December also shed Rs 5.20, or 0.84 per cent, to Rs 616.60 per kg in a turnover of 181 lots. Analysts said the fall in nickel prices in futures trade is mostly attributed to a weakening trend in base metal at the London Metal Exchange (LME) on concern Chinese demand is slowing and as the dollar traded at its strongest level in more than a decade.Furthermore, easing demand from alloy-makers at the domestic spot market.
� Lead
Lead prices were up by 0.73% to Rs 111.10 per kg in futures trade today as traders enlarged positions on the back of rising demand from consuming industries in the spot market amid firm global trend. At the Multi Commodity Exchange, lead for delivery in far-month February traded higher by 80 paise, or 0.73% to Rs 111.10 per kg in business turnover of 20 lots. Similarly, the metal for delivery in January contracts edged up by 75 paise, or 0.68% to Rs 110.50 per kg in 585 lots. Market analysts said increasing of positions by participants due to pick up in demand from battery-makers in the spot market and a firm trend in base metals global markets, mainly influenced lead prices at futures trade.
Lead prices edged up by 0.48 per cent to Rs 105.30 per kg in futures trading today as traders built up fresh bets due to pick up in demand in the domestic spot market.At Multi Commodity Exchange, lead for delivery in November month moved up by 50 paise, or 0.48 per cent to Rs
105.30 per kg in business turnover of 312 lots.Likewise, the metal for delivery in December contracts traded higher by 40 paise, or 0.38 per cent to Rs 106.30 per kg in 6 lots.Market analysts said fresh positions built-up by participants after pick up in demand from batterymakers in the spot market, mainly influenced lead prices at futures trade.
✍ Zinc
Zinc prices recovered 0.84% to Rs 102.30 per kg in futures trade today as speculators created fresh positions, taking positive cues from the domestic spot market on upsurge in demand.Besides, firming trend in base metals in global markets supported the upside. At the Multi Commodity Exchange, zinc for delivery in far-month February rose by 90 paise, or 0.84% to Rs 102.30 per kg in business turnover of 38 lots. On similar lines, the metal for delivery in January contracts traded higher by 70 paise, or 0.70% to Rs 101.40 per kg in 1,681 lots. Market analysts attributed the recovery in zinc futures to fresh bets created by participants due to pick up in demand from consuming industries in the spot market and a firm trend in base metals in global markets.
✍ NCDEX - WEEKLY NEWS LETTERS ✍ The Securities and Exchange Board of India (Sebi) believes its direction on tightening of open positions and circuit filter norms for agricultural commodities would not affect hedging in these.On Friday, it had directed the reducing of open interest (OI, contracts not settled at the end of trade) by half for near-month (expiry month) contracts. And, cut the limit for daily price movements on either side from the existing six per cent to four per cent. A year ago, the then regulator, the Forward Markets Commission (FMC), had increased all these limits to improve participation and liquidity, along with encouraging of hedging.Sebi has not touched the OI or position limits for far-month contracts, or any limits for hedgers. The reduction of OI limits for the near-month contract will reduce volatility in the near-month but improve liquidity in far months.” Also, that the reduced OI limits, “will not affect hedgers, as they will continue to seek higher limits as per extant norms”. The decision to suspend the forwards segment was a, "precautionary measure because there was thin liquidity at a time when agri commodity prices are very volatile.Usually in agri commodities, positions and liquidity were built into nearmonth contracts. Far-month (future months for which contracts exist) contracts trade at a thin liquidity. The changes made by Sebi will help in increasing of positions in far months. In some commodities, with a higher circuit filter in futures, traders used to rig prices in the spot market, too, and this would get some check with tighter norms, said a sectoral official. The near-month limits are still higher than a year before, is another justification.To encourage hedging on commodity derivatives, FMC had a year before liberalised the limits. Hedgers who were selling and depositing goods in exchange-accredited warehouses were given margin relaxations. The hedging positions would continue as before, a major relief for hedgers, said an exchange official.Sebi was tracking commodity derivatives for the past three months, after this came under its purview. During the period, volatility was quite high, as most agri commodity prices went up after an erratic monsoon and less sowing.
✍ Chana
Chana prices were up by 0.26% to Rs 4,273 per quintal in futures trade on Friday as participants created fresh positions, driven by pick up in demand at the spot market.At the National Commodity and Derivatives Exchange, chana for delivery in April rose by Rs 11, or 0.26%, to Rs 4,273 per quintal, with an open interest of 26,820 lots.On similar lines, the commodity for delivery in far-month May edged up by Rs 7, or 0.16%, to Rs 4,325 per quintal in 5,420 lots.Fresh positions built up by traders on the back of pick up in demand in the spot market led to the rise in chana prices at futures trade.
✍ Turmeric
Turmeric prices were down 5.17% to Rs 8,224 per quintal in futures trade on Thursday on subdued demand in the spot market against adequate stocks position.At the National Commodity and Derivatives Exchange, turmeric for delivery in April month declined by Rs 448, or 5.17% to Rs 8,224 per quintal with an open interest of 20,620 lots.Similarly, the spice for delivery in May contracts traded lower by Rs 412, or 4.72% to Rs 8,320 per quintal in 4,740 lots.Offloading of positions by traders, triggered by low demand at the spot market against adequate stocks position, mainly kept pressure on the turmeric prices at the futures trade.
✍ Jeera
Jeera prices closed higher by 0.11 per cent on Friday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the investors increased their holdings in the commodity in the midst limited arrivals from growing regions. At the NCDEX, jeera futures for March 2016 contract closed at Rs. 13,600 per quintal, up by 0.11 per cent, after opening at Rs. 13,605 against the previous closing price of Rs. 13,585. It touched the intra-day high of Rs. 13,675. Sentiment improved further as a result of reduced domestic supplies in the physical markets and some export enquiries.
✍ Mustard seed
Mustard Seed prices closed lower by 1.21 per cent on Thursday 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. 4,004 per quintal, down by 1.21 per cent, after opening at Rs. 4,042 against the previous closing price of Rs. 4,053. It touched the intraday low of Rs. 3,994. Sentiment weakened further due to the sluggish export demand as a result of the weak demand for the commodity.
✍ Coriander
Coriander prices fell 2.32 per cent to Rs 9,301 per quintal in futures trade today as speculators offloaded their positions, tracking muted spot demand.Besides, ample stock position on account of rising arrivals from major producing belts too weighed on coriander futures.At the National
Commodity and Derivatives Exchange, coriander prices for delivery in November fell Rs 221, or 2.32 per cent, to Rs 9,301 per quintal with open interest of 10,830 lots. The price for December delivery declined by Rs 184, or 1.84 per cent to Rs 9,811 per quintal with open interest of 21,400 lots.Market analysts said adequate stocks in the physical market against subdued demand mainly led to the fall in coriander futures prices.
� Cardamom
Cardamom prices tumbled 2.56 per cent to Rs 620 per kg in futures trading today after speculators locked-in gains at prevailing higher levels. Furthermore, weak demand in the spot markets too weighed on prices.At the Multi Commodity Exchange, cardamom for delivery in November plunged by Rs 16.30, or 2.56 per cent, to Rs 620 per kg in a business turnover of 2 lots.Similarly, the spice for delivery in December weakened by Re 1, or 0.13 per cent, to Rs 758 per kg in 43 lots.Marketmen attributed fall in cardamom at futures market to profit-booking by traders at existing levels amid easing demand in the spot market.
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