Daily mcx newsletter 29 jan-14

Daily mcx newsletter 29 jan-14

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  DAILY MCX NEWSLETTER JAN.2014 29 - JAN.-2014 www.TheEquicom.com 0731-6770000 1
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  BULLION: Paper shorting viaCOMEX is perhaps the most egregious and most visible. Its signature can be tracked via reports issued by the exchanges. While the CME recently disclaimed the accuracy of the data, the blatancy of this interference has gone on so long that the existence of the numbers that prove intervention have very little impact on speculators. Gold leasing has been the time-tested way that bullion banks are given cheap exposure to gold that they can borrow to sell into the market. This method comes with defacto sanctioning by the Exchange Stabilization Fund. BASE METAL: India plans to increase its steel production by 300 mn tons from the present level of 80 mn tons and that requires huge amount of coal. This follows the discussions Mr Beni Prasad Verma, India's steel minister had with the Australian minister on his visit to the nation on Tuesday. He also met Australian Minister of Foreign Affairs, Ms. Julie Bishop during a meeting of the Australia-idnia Business Council.Discussions were held on forging collaborative partnerships between the two countries in the areas of mining and coal trade. 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 0731-6770000 2
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  BULLION GOLD (5 FEB.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY :- CONSOLIDATE : - 29670, 29830 : - 29450, 29250 : - SELL ON HIGH SILVER (5 MAR.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 44350, 44750 : - 44000, 43800 : - SELL ON HIGH www.TheEquicom.com 0731-6770000 3
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  ENERGY CRUDEOIL (19 FEB.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY :- CONSOLIDATE : - 6170, 6230 : - 6070, 6040 : - BUY ON DIPS NATURAL GAS (25 FEB.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY : - BULLISH : - 322.50, 330.00 : - 310.00, 307.50 : - BUY ON DIPS www.TheEquicom.com 0731-6770000 4
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  BASE METAL COPPER (28FEB.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 456.00, 459.00 : - 450.00, 448.00 : - SELL ON HIGH LEAD (31 JAN.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 134.90, 136.00 : - 133.40, 132.50 : - SELL ON HIGH www.TheEquicom.com 0731-6770000 5
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  ZINC (31 JAN.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY :- CONSOLIDATE : - 126.20, 127.50 : - 124.00, 123.00 : - SELL ON HIGH ALUMINUM (31 JAN.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 108.40, 110.00 : - 107.20, 106.00 : - SELL ON HIGH NICKEL (31 JAN.) OUTLOOK: TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 895.00, 905.00 : - 875.00, 860.00 : - SELL ON HIGH www.TheEquicom.com 0731-6770000 6
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  GOLD SILVER COPPER CRUDEOIL PALLANDIUM PLATINUM USDINR EURUSD USDJPY USDCHF GBPUSD USDCAD 1253.09 19.569 3.261 97.18 715.30 1409.34 62.4800 01.3653 103.222 00.9002 01.6572 01.1145 www.TheEquicom.com 0731-6770000 7
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  www.TheEquicom.com 0731-6770000 8
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