GOLD MCX JUN:
Gold trading projected high range for the day is 29673-29820
Gold trading projected low range for the day is 29629-29482
Gold gained as volatility in currency market triggered by Japan’s aggressive monetary easing plan lifted bullion’s appeal
Prices also benefited after the U.S. government said wholesale inventories fell the most in nearly 1-1/2 years in February
SPDR gold trust holdings dropped by 4.94 tonnes to 1201 tonnes
Major Resistance on upside at 29754-29887-30020
Trend Deciding Level at 29592
Major Support on downside at 29459-29297-29164
SILVER MCX MAY:
Silver trading projected high range for the day is 52284-52925
Silver trading projected low range for the day is 51968-51327
Silver gained as a softer U.S. dollar supported prices while investors continued to speculate whether Fed will keep its loose monetary policy in place
Investors will closely monitor minutes from the Fed’s latest policy meeting, set to be released, for clues on U.S. monetary policy
Hopes that first-quarter earnings in the U.S. will meet expectations enticed investors out of the safe-haven greenback.
Major Resistance on upside at 52658-53194-53730
Trend Deciding Level at 51910
Major Support on downside at 51375-50628-50092
CRUDE MCX APR:
Crude trading projected high range for the day is 5139-5173
Crude trading projected low range for the day is 5113-5079
Crude oil ended with gains as a weak dollar and tame Chinese inflation data drew investors to commodities.
U.S. crude stockpiles rose by 5.1 million barrels during the week to April 5, data from the API showed
Today crude oil inventories: EXP: 1.6M PREV: 2.7M. Actual is at 8.00PM
Major Resistance on upside at 5161-5186-5211
Trend Deciding Level at 5118
Major Support on downside at 5093-5050-5025
COPPER MCX APR:
Copper trading projected high range for the day is 414.92-418.67
Copper trading projected low range for the day is 412.32-408.57
Copper ended with good gains as markets continued to absorb positive economic figures from China.
Workers at Chile’s state mining company Codelco went on a 24-hour strike on Tuesday to demand better job security and safety improvements
China’s central bank may keep its easing monetary policy in place, which will help financial markets and prices of bulk commodity rebound.
Warehouse stock for Copper at LME was at 587550mt that is up by 7950 MT.
Major Resistance on upside at 418-421-423
Trend Deciding Level at 412.65
Major Support on downside at 410-406-403
MENTHA OIL MCX APR:
Mentha Oil trading projected high range for the day is 1018-1030
Mentha Oil trading projected low range for the day is 1021-1009
Mentha Oil spot is at 1135/-. Spot market remains unchanged.
Mentha Oil ended lower on sluggish demand from consuming industries against increased supplies
The total area under cultivation is expected to rise by 20% at 2.1 lakh ha against last year’s 1.75 lakh ha.
At Barabanki, the total stock was 5, 64, 533 kg of which, physical stock accounted for 5, 63, 814 kg
Major Resistance on upside at 1024-1037-1050
Trend Deciding Level at 1012
Major Support on downside at 1000-989-976
NATURAL GAS MCX APR:
Natural Gas trading projected high range for the day is 222-225
Natural Gas trading projected low range for the day is 224-221
Natural gas ended with losses as investors took profits amid mild weather forecasts for the eastern half of the nation
Weather forecasters predicting mild temperatures in the key Midwest and East Coast markets also weighed.
Total U.S. natural gas in storage fell to 1.687 trillion cubic feet last week, 32% lower than last year at this time.
Major Resistance on upside at 223-227-231
Trend Deciding Level at 221
Major Support on downside at 217-215-211
Today Major Global Events:
|
Date |
Time |
Region |
Event |
Period |
Survey |
Prior |
Impact |
|
10-04-2013 |
16:30 |
US |
MBA Mortgage Applications |
5 Apr |
— |
-4.00% |
Slightly |
|
10-04-2013 |
23:30 |
US |
Monthly Budget Statement |
Mar |
— |
— |
Positive |
|
10-04-2013 |
23:30 |
US |
Fed Release Minutes |
— |
—- |
—- |
Positive |
|
10-04-2013 |
— |
CH |
Trade Balance [USD] |
Mar |
$15.15B |
$15.25B |
Slight |
|
10-04-2013 |
—- |
CH |
Exports YoY% |
Mar |
11.70% |
21.80% |
Slight |
|
10-04-2013 |
—- |
CH |
Imports YoY% |
Mar |
6.00% |
-15.20% |
Positive |
|
10-15 Apr |
—- |
CH |
Foreign Exchange Reserves |
Mar |
$3347.0B |
$3310.B |
Positive |
|
10-15 Apr |
— |
CH |
New Yuan Loans |
Mar |
890.0B |
620.0B |
Positive |
|
10-15 Apr |
— |
CH |
Money Supply – M2 [YoY] |
Mar |
14.60% |
15.20% |
—- |
|
10-15 Apr |
— |
IN |
Imports YoY% |
Mar |
— |
2.60% |
Negative |
|
10-15 Apr |
— |
IN |
Exports YoY% |
Mar |
—- |
4.20% |
Negative |
Today Mcx & Ncdex Intraday Calls:
BUY TURMERIC NCDEX MAY ABOVE 7100 SL 6980 TGT 7220-7360
SELL CRUDE OIL MCX APR BELOW 5125 SL 5150 TGT 5100-5075
SELL GOLD MCX JUN BELOW 29584 SL 29627 TGT 29556-29514