GOLD MCX JUN:
Gold trading projected high range for the day is 29828-30061
Gold trading projected low range for the day is 30032-29799
Gold dropped as economic optimism lifted US equities to near a record high and weakened bullion’s safe-haven appeal
Markit’s Eurozone Manufacturing PMI fell in March to 46.8 from 47.9 in February, slightly better than a preliminary estimate.
SPDR gold trust holdings dropped by 8.13 tonnes to 1208.92 tonnes.
Major Resistance on upside at 29910-30212-30514
Trend Deciding Level at 29745
Major Support on downside at 29443-29278-28976
SILVER MCX MAY:
Silver trading projected high range for the day is 52169-52966
Silver trading projected low range for the day is 5228-51931
Silver ended lower as a bout of technical selling set in after prices broke below a key support level.
Any improvement in the U.S. economy could scale back expectations for further easing by the Federal Reserve.
Investors will now monitor policy meetings at BoJ and ECB on Thursday, while U.S. payroll numbers on Friday will be the next key data.
Major Resistance on upside at 52474-53457-54440
Trend Deciding Level at 51864
Major Support on downside at 50881-50271-49288
CRUDE MCX APR:
Crude trading projected high range for the day is 5306-5340
Crude trading projected low range for the day is 5282-5248
Crude recovered from lows to settle firm after official data showed that U.S. factory orders rose by the most in five months in February.
Saudi Oil Minister saying that demand for crude from Saudi Arabia is likely to rise over the coming months.
Today crude oil inventories: EXP: 1.8M PREV: 3.3M. Actual is at 8.00PM.
Major Resistance on upside at 5327-5353-5379
Trend Deciding Level at 5285
Major Support on downside at 5259-5217-5191
COPPER MCX APR:
Copper trading projected high range for the day is 408.72-410.12
Copper trading projected low range for the day is 407.68-406.27
Copper ended with small gains but overall prices seen under pressure as downbeat manufacturing data from euro, US and China showed stuttering growth momentum.
Adding to concerns about the fragile global economic recovery, manufacturing across the euro zone fell deeper into decline in March.
Data showed Chile produced 420,207 tonnes of copper in February, a 2.8 percent expansion from a year earlier
Warehouse stock for Copper at LME was at 571125mt that is up by 1350mt.
Major Resistance on upside at 409.60-410.65-411.70
Trend Deciding Level at 407.85
Major Support on downside at 406.80-405.05-404
MENTHA OIL MCX APR:
Mentha Oil trading projected high range for the day is 1054.50-109.50
Mentha Oil trading projected low range for the day is 1033.50-1008.50
Major Resistance on upside at 1070-1088-1106
Trend Deciding Level at 1038.50
Major Support on downside at 1020-988-970
NATURAL GAS MCX APR:
Natural Gas trading projected high range for the day is 218.70-221.15
Natural Gas trading projected low range for the day is 220.50-217.80
Major Resistance on upside at 219.66-222.63-225.60
Trend Deciding Level at 217.73
Major Support on downside at 214.76-212.83-209.86
Today Major Global Events:
|
Date |
Time |
Region |
Event |
Period |
Survey |
Prior |
Impact |
|
03-04.2013 |
02:30 |
US |
Total Vehicle Sales |
Mar |
15.30M |
15.33M |
Slight |
|
03-04-2013 |
02:30 |
US |
Domestic Vehicle Sales |
Mar |
12.08M |
11.99M |
Positive |
|
03-04-2013 |
06:30 |
CH |
Non-Manufacturing PMI |
Mar |
— |
54.5 |
Positive |
|
03-04-2013 |
07:15 |
CH |
HSBC Service PMI |
Mar |
—- |
52.1 |
Positive |
|
03-04-2013 |
10:30 |
IN |
HSBC-Markit Services PMI |
Mar |
— |
54.2 |
Positive |
|
03-04-2013 |
14:00 |
UK |
PMI Construction |
Mar |
48 |
46.8 |
Positive |
|
03-04-2013 |
14:30 |
EC |
Euro-Zone CPI Estimate {YoY} |
Mar |
1.60% |
1.80% |
Slight |
|
03-04-2013 |
16:30 |
US |
MBA Mortgage Applications |
2-mar |
—- |
7.70% |
Positive |
|
03-04-2013 |
17:45 |
US |
ADP Employment Change |
Mar |
200K |
198K |
Slight |
|
03-04-2013 |
19:30 |
US |
ISM Non-Manf. Composite |
Mar |
55.8 |
56 |
Negative |
Today Calls To Watch::
SELL MENTHA OIL MCX APR BELOW 1044 SL 1058 TGT 1036-1030
BUY PEPPER NCDEX MAY ABOVE 35900 SL 35700 TGT 36050-36200
BUY ZINC MCX APR ABOVE 101 SL 100.40 TGT 101.60-102.20.