Daily mcx newsletter 28 jan 2014

Daily mcx newsletter 28 jan 2014

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  DAILY MCX NEWSLETTER JAN.2014 28 - JAN.-2014 www.TheEquicom.com +919200009266 1
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  BULLION: The gold importcurbs implemented by the India Government has helped in containing Current Account Deficit (CAD) and balance of payments position, according to P Chidambaram, Finance Minister. Addressing a function to celebrate the International Customs Day, Chidambaram pointed otu that the restrictions on gold impoarts may be revisted at the end of the current fiscal. The CAD in the current fiscal is expected to soften significantly to USD 50 billion. Gold imports, which had peaked to 162 tonnes in May 2013, declined sharply to 19.3 tonnes in November after the government hiked import duty thrice in 2013, taking it to 10 per cent. BASE METAL: Supply concerns along with weakness in emerging markets are current factors weighing on commodity prices. This is seen in base metals where stronger supplies amidst a progressing economy is causing bearish sentiments to prevail In, 2014, however there could be a more supportive environment for base metals. Commodities tend to underperform in this part of business cycle when there is low GDP growth and low interest rates.This coupled with supply overhang means that commodities may continue to underperform over the next few months. ENERGY: Natural gas, the best performing commodity in energy complex so far this year , has risen sharply due to colder weather in US which raises demand for heating. US Natural Gas futures rose sharply to $5.4 per MMBTU while MCX Nat Gas futures rose 6.74% to Rs 340 per MMBTU after hitting a high of Rs 341.70. MCX Natural Gas has exceeded predicitons of most analysts who expected it to trade in 300-330 range. www.TheEquicom.com +919200009266 2
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  BULLION GOLD (5 FEB.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY :- CONSOLIDATE : - 29850, 30000 : - 29600, 28450 : - BUY ON DIPS SILVER (5 MAR.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 45350, 45660 : - 44850, 44500 : - BUY ON DIPS www.TheEquicom.com +919200009266 3
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  ENERGY CRUDEOIL (19 FEB.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY :- CONSOLIDATE : - 6150, 6200 : - 6030, 5950 : - BUY ON DIPS NATURAL GAS (28 JAN.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY : - BULLISH : - 325.00, 330.00 : - 315.00, 312.00 : - BUY ON DIPS www.TheEquicom.com +919200009266 4
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  BASE METAL COPPER (28FEB.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 462.00, 465.00 : - 455.00, 450.00 : - SELL ON HIGH LEAD (31 JAN.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 137.00, 138.00 : - 135.50, 134.40 : - BUY ON DIPS www.TheEquicom.com +919200009266 5
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  ZINC (31 JAN.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY :- CONSOLIDATE : - 127.70, 128.60 : - 125.90, 125.00 : - SELL ON HIGH ALUMINUM (31 JAN.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 110.00, 111.00 : - 108.00, 107.00 : - SELL ON HIGH NICKEL (31 JAN.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 905.00, 920.00 : - 885.00, 870.00 : - SELL ON HIGH www.TheEquicom.com +919200009266 6
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  GOLD SILVER COPPER CRUDEOIL PALLANDIUM PLATINUM USDINR EURUSD USDJPY USDCHF GBPUSD USDCAD 1256.86 19.762 3.259 95.80 722.30 1419.01 63.0900 01.367 5 102.687 00.8963 01.6605 01.1098 www.TheEquicom.com +919200009266 7
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  www.TheEquicom.com +919200009266 8
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