` ✍ MCX DAILY LEVELS DAILY
EXPIRY DATE
R4
R3
R2
R1
PP
S1
S2
S3
S4
ALUMINIUM
29-DEC-2017
151.10
146.90
142.70
141.10
138.90
137.10
134.50
130.30
123.10
COPPER
28- FEB-2018
477.50
471.00
465.0
462
458
455.80
451.50
445.10
438.60
CRUDE OIL
18-DEC-2017
3835
3800
3765
3750
3730
3716
3695
3660
3625
GOLD
05-FEB -2018
29120
28996
28790
28720
28590
28530
28390
28190
27990
LEAD
29-DEC-2017
165.80
163.60
161.40
159.90
159.10
157.70
156.80
154.60
152.40
NATURAL GAS
26-DEC-2017
184.10
178.90
173.90
171.90
168.80
166.80
163.60
158.60
153.40
NICKEL
29-DEC-2017
818
802
786
778
770
762
754
739
723
SILVER
05-MAR-2018
39640
39036
38428
38200
37820
37580
37210
36600
35990
ZINC
29-DEC-2017
218.80
215.40
211.90
210.70
208.50
207.20
205.05
201.60
198.10
Tuesday, 26 December 2017
✍ MCX WEEKLY LEVELS WEEKLY
EXPIRY
R4
R3
R2
ALUMINIUM
DATE 29-DEC-2017
162.40
154
145.60
COPPER
28- FEB-2018
504.30
487.80
CRUDE OIL
18-DEC-2017
3977
GOLD
05-FEB -2018
LEAD
R1
PP
S1
S2
S3
S4
142.60
137.20
134.20
128.80
120.40
112
471.20
465.60
454.70
449
438.10
421.60
405
3889
3801
3765
3713
3681
3625
3537
3449
29660
29286
28911
28780
28540
28407
28161
27786
27411
29-DEC-2017
181.20
174.30
167.50
163.0
160.60
156.10
153.80
146.90
140.10
NATURAL GAS
26-DEC-2017
220.10
204.10
187.90
178.40
171.80
162.80
155.70
139.60
123.50
NICKEL
29-DEC-2017
889
843
802
786
760
746
722
681
641
SILVER
05-MAR-2018
40100
39320
38544
38230
37760
37460
36980
36198
35410
ZINC
29-DEC-2017
227.60
220.90
214.10
211.80
207.40
205.50
200.60
193.90
187.1
✍ FOREX DAILY LEVELS DAILY USDINR
EXPIRY DATE 19-JAN-18
R4
R3
R2
R1
PP
S2
S3
66.922
66.100
65.300
64.800
64.500
64.000
63.700
62.900
0
0
0
0
0
0
0
77.800
77.050
76.700
76.350
76.000
75.650
74.900
0
0
0
0
0
0
0
86.550
86.350
86.250
86.150
86.050
85.950
85.750
0
0
0
0
0
0
0
57.100
57.000
56.950
56.900
56.900
56.800
56.700
0
0
0
0
0
0
0
5 EURINR
19-JAN-18
78.517 5
GBPINR
19-JAN-18
86.780 0
JPYINR
19-JAN-18
57.177 5
S1
S4 62.0775
74.1825
85.5200
56.6225
✍ FOREX WEEKLY LEVELS WEEKLY
EXPIRY DATE
R4
R3
R2
R1
PP
S1
S2
S3
S4
USDINR
19-JAN-18
64.445
64.400
64.300
64.300
64.250
64.200
64.200
64.100
64.055
0
0
0
0
0
0
0
0
76.600
76.500
76.400
76.350
76.300
76.250
76.100
75.975
0
0
0
0
0
0
0
0
88.400
87.400
86.800
86.400
85.800
85.400
84.400
83.392
0
0
0
0
0
0
0
5
59.400
58.300
57.600
57.200
56.550
56.100
55.000
53.922
0
0
0
0
0
0
0
5
0 EURINR
19-JAN-18
76.725 0
GBPINR
19-JAN-18
89.407 5
JPYINR
19-JAN-18
60.477 5
MCX - WEEKLY NEWS LETTERS � BULLION Gold was up 0.55 percent at $1,273.61 an ounce, after rising to $1.275.98, the highest since Dec. 5. Bullion was on track to see its strongest weekly performance since mid-October. U.S. growth prospects dimmed on Friday as data showed spending outpaced income in November and the Federal Reserve's preferred inflation measure -- the personal consumption expenditures price index that excludes food and energy -- rose by just 0.1 percent in November. U.S. data showing solid home sales but a fall in mortgage applications pushed the dollar to a two-week low. Besides, optimism on the U.S. tax overhaul would help boost growth and as economic data improves also had its fair share in price moves. Spot silver prices rose 1.9 percent to close at $16.4 per ounce on account of rise in copper prices and rise in gold prices as well. On the MCX, silver prices rose 1.98 percent to close at Rs.38410 per kg.
� BASE METAL LME Copper prices surged by 3.5 percent last week as stable economic numbers from China calmed fears of a sharp slowdown in the mainland nation. Along with this, Xi Jinping vowed to push ahead with a clean-up of the financial sector. Further, weaker DX continued to support dollar denominated metals since global investors have already factored in the passage of US tax bill. US Senate approved the final version of the US tax code in more than 30 years. Besides, latest data from the International Copper Study Group (ICSG) showed stagnant refined copper supplies, in combination with strong Chinese apparent usage in September, pushed deficit to 181,000 t from an estimated 160,000 t for the first seven months of the year. Base metals continued their positive momentum last week as stable Chinese economic data coupled with weaker DX supported an upside. MCX base metals apart from Lead traded higher in line with international trends.
� ENERGY WTI and Brent oil prices traded positive by 1.6 and 2.5 percent as OPEC started working on plans for an exit strategy from its deal to cut crude supplies, fuelling hopes it would not end supply cuts abruptly. U.S. crude stocks fell by 6.5 million barrels, more than expected, in the week to Dec. 15, while gasoline stocks rose 1.2 million barrels. Inventories have been steadily declining in the United States due to strong export demand and efforts by major oil producers to restrict supply. On the other side, rising U.S. output and the expected January reopening of the Forties pipeline in the North Sea could result in to headwinds for oil prices to rise. Market liquidity was drying up on Friday as traders closed positions ahead of the upcoming Christmas and New Year breaks.
MCX TECHNICAL VIEW � CRUDE OIL For the last three weeks, crude oil prices have been consolidating in a narrow range and in the previous week it dipped till the low of 3642 and recouped higher and ended almost near the week high of 3737. Although the price is recovering from the low it is till trading below the trend line resistance and it is failing to make convincing close above the January high of 3780. Going forward, if the prices manage to close above 3780 will provide fresh bull rally till 4000 and higher. The momentum indicator MACD is still on the positive note and the RSI reclaimed higher from 62 to 64. For the week, 3780 mark holds as a key break out level and convincing break above that will trigger a fresh rally. Thus we advise buying above 3780 mark for upside targets of 3900 then 3980. BUY CRUDE OIL JAN ABOVE 3790 TGT 3900 SL 3740
� ZINC During the last week, Zinc January contract prices extended its gains after opening at 205.70 and ended at 209.55 mark gaining 2.02%. Zinc price is reverting from the support of 199 and has penetrated the immediate trend line resistance providing a bullish break out of an down trend channel. According to the pattern, the upside targets are projected till 220 levels and surpass above that will extend the commodity till the trend channel resistance in the long run. The momentum indicator inched slightly higher and while
209.10 then a fresh rally can be seen till 216 then 218 levels. Therefore, we advise buying above 210 for given targets. SELL ZINC DEC ABOVE 210 TGT 214 SL 208
✍ NCDEX DAILY LEVELS DAILY
EXPIRY DATE
R4
R3
R2
R1
SYOREFIDR
19-JAN-2018
738.70
731.40
724.10
721.20
SYBEANIDR
19-JAN-2018
3164
3133
3102
RMSEED
19-JAN-2018
4271
4179
JEERAUNJHA
19-JAN-2018
22400
GUARSEED10
19-JAN-2018
TMC
20-APR-2018
PP
S1
S2
S3
S4
716.90
713.90
709.60
702.20
694.90
3086
3070
3055
3040
3009
2978
4087
4050
3995
3958
3903
3811
3719
22055
21710
21510
213520
21165
21020
20675
20330
4210
4151
4092
4055
4033
3999
3974
3915
3856
8396
8186
7980
7879
7766
7669
7556
7346
7136
✍ NCDEX WEEKLY LEVELS WEEKLY
EXPIRY
R4
R3
R2
R1
PP
S1
S2
S3
S4
752.90
736.40
727.40
719.90
710.90
703.40
686.90
670.40
DATE SYOREFIDR
19-JAN-2018
769.4 0
SYBEANIDR
19-JAN-2018
3192
3132
3101
3070
3041
3041
3012
2952
2892
RMSEED
19-JAN-2018
4287
4189
4091
4052
3989
3954
3895
3797
3699
JEERAUNJHA
19-JAN-2018
2368
22955
22225
21770
21485
21040
20765
20035
19305
5 GUARSEED10
19-JAN-2018
4210
4151
4092
4056
4033
3999
3974
3915
3856
TMC
20-APR-2018
8988
8556
8124
7950
7692
7520
7260
6828
6396
NCDEX - WEEKLY MARKET REVIEW ✍ SPICE COMPLEX NCDEX Jan Jeera falls on profit booking on Friday and prices moving sideways and consolidates near 21,300 levels on anticipation of good physical and export demand. For the December contract, NCDEX reported record deliveries allocations of 4,896 tonnes on Exchange platform. Moreover, good progress of jeera sowing in Gujarat also pressurizes prices. In Gujarat, Jeera acreage in Gujarat up by 35% to 3.5 lakh hectares as on 18th Dec 2017. Last year, it was 2.6 lakh ha at that same time while the normal acreage is 2.8 lakh ha. As per government data, Jeera exports during first six month of FY 2017/18 (Apr-Sep) is 77,827 tonnes, up 8.4% compared to last year exports volume for the same period. India's jeera exports in Sep increase 110% on year to 14,742 tn. Jeera arrivals for the first 15 days of Dec down by 50% to 1,985 tonnes on year due to tight supplies and lower stocks. Turmeric Apr contract closed higher on Friday due to fresh buying initiated by market participants due to firm physical demand and expectation of improved up-country demand from the new season. The supplies have improved during last one month due to government auctions and lower exports data. The export of turmeric is down by 15.2% to 56,900 tonnes for the first 6 month of FY 2017/18 compared to last years’ exports. The arrivals have been higher during first 15 days in December this year to 15,021 tonnes compared to 7,877 tonnes last year same month according to Agmarknet data.
✍ OILSEED COMPLEX NCDEX Soybean futures fell due to profit booking at higher levels on Friday. However, the prices have improved last week due to firm demand from the physical market as supplies have been diminishing. The arrivals have been lower during first 25 days of December compared to last year. As per, Agmarknet, 6.22 lakh tonnes of soybean arrived in physical market in December (1-25) against close to 7.6 lt last year for the same time period. SOPA increased its meal exports estimates for 2017/18 due to increased export incentives by 2% to 7% by government for all meals. Soymeal exports from the country in 2017-18 (OctSep) are seen rising to around 20 lakh tn from previous estimate of 15 lakh tn due to a recent rise in export incentives. Mustard Jan futures jump higher on Friday due to short covering by market participants on anticipation of increase in physical demand in coming month. Currently the prices have been moving according to the winter demand but reports of lower sowing acreage this year is supporting prices. The acreage of mustard was down 8% till last week at 62.8 lakh ha, as per latest rabi sowing report by the government. Rajasthan is the largest mustard growing state but the sowing pace is slower than last year at 20.6 lakh ha Vs 27.8 lakh ha.
✍ OTHER COMPLEX Chana Jan futures closed higher on Friday supported by government withdrew customs duty exemption on chana and imposed 30% duty with immediate effect. Reports of higher stocks and improved sowing progress have pressurized prices during the last two months. As per government data, India imported about 4.78 lakh tonnes of chana during Apr-Sep, up by 430% compared the last year imports. As per government sowing data, area under the chana crop across the country was up 13.7% on year at 96.23 lakh ha as on last week. Area under Chana exceeds 90 lakh ha for the second consecutive year. Last year area was close to 99 lakh ha. MP, Maharashtra, Rajasthan and Karnataka exceed normal sowing area this season. The NCDEX have imposed a special margin of 5% on the sell side to support falling prices. MCX Dec Cotton closed lower on profit booking after it touched fresh highs for the season on the prior session due to lower than expected arrivals in the domestic market. There is expectation of fall in domestic output due to pink bollworm attacks and fluctuating weather conditions during cotton sowing season in major cotton sowing states. Pakistan’s decision to permit import of Indian cotton has provided the latest trigger for the price rise. Along with Pakistan, buyers from China and Bangladesh too have finalized deals for Indian cotton. ICE cotton settled lower on Friday, but benchmark prices held close to seven-month highs as sustained speculative demand helped the March contract rise for a ninth straight week. The CFTC Commitment of Traders report showed cotton futures and options spec traders adding 8,165 contracts to their net long position. That 97,675 contracts figure was the largest reported net long position since midMay. The USDA reported net upland sales of 326,500 running bales for 2017/2018 for the week ending Dec. 14, which was up 26 % from the previous week and 21% from the prior 4-week average.
NCDEX TECHNICAL VIEW ✍ SOYABEAN Last week, Soybean January contract price opened slightly higher at 3024 and rose till the high of 3089 and finally settled at 3070. On the weekly chart prices has penetrated long term trend line resistance and has ended just above that. Going ahead, prices are likely to remain higher and can head towards the resistance of 3160 then 3280 levels. The momentum indicator MACD and stochastic have made a positive cross over on weekly chart and the RSI also inching higher from 52 to 56 is indicating bullish signs. For the week, the soybean prices are likely to remain higher and recommend to buy above 3103 for given upside targets of 3160 the 3200 levels.
BUY SOYABEAN JAN ABOVE 3105 TGT 3190 SL 3060
� RMSEED � RMSEED Last week, RMSEED January contract price opened slightly higher at 4020 and rose till the high of 4038 and found resistance level at and finally settled at 3998. On the 4 hourly chart prices forming inverted H&S Pattern indicating short term positive movement. Going ahead, prices are likely to remain higher and can head towards the resistance of 4100 then 4140 levels. The momentum indicator MACD and stochastic have made a positive cross over on weekly chart and the. RSI also inching higher from 52 to 56 is indicating bullish signs. For the week, the RM SEED prices are likely to remain higher and recommend to buy above 4040 for given upside targets of 4100 the 4140 levels. BUY RMSEED JAN ABOVE 4040 TGT 4140 SL 3990
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