Commodities Trading for 26 Sep’2012

Posted on September 26, 2012 by Sree Lakshmi Reddy

GOLD:

Gold trading range for the day is 31270-31590.

Gold dropped after solid housing and confidence data out of the U.S. wiped out gains

IMF report revealed that central banks increased their holding of the precious metal in both July and August. SPDR Gold Trust said its holdings had risen to a record high of 1,331.332 tonnes by Sept’ 25

Gold is trading above 50DMA, which is at 30900. A little bit weaker dollar is helping set a slightly better tone for the market and at least not creating headwinds. Gold is consolidating between roughly $1,755 and $1,775 at the moment.

Resistance is at 31490-31585-31680

Trend Deciding Point at 31425

Support at 31330-31265-31170

SILVER:

Silver trading range for the day is 61495-63555.

Silver dropped as rekindled concerns about the euro zone’s debt crisis weighed on the euro and boosted the dollar. Solid data out of the U.S. sent the metal falling as investors stocked up on dollar positions. Federal Housing Finance Agency (FHFA) announced that house price index for July rose by 0.2% MoM.

Silver is trading above 50DMA, which is at 59400.

Resistance is at 62923-63545-64168

Trend Deciding Point at 662518

Support at 61895-61490-60866

CRUDE:

Crude trading range for the day is 4825-5015.

Crude turned lower with concerns about economic growth continuing to keep oil traders cautious

Washington cleared the way for tighter sanctions against Iran to curb the Middle East state’s nuclear ambitions. Today crude oil inventories: EXP: M PREV: M. Actual is at 8.00PM

Resistance is at 4957-5016-5074

Trend Deciding Point at 44921

Support at 4862-4825-4767

COPPER:

Copper trading range for the day is 441-448.5.

Copper gains after a double dose of positive economic data in the US bolstered investor appetite for risk

Concerns remained about outlook for physical demand from China, given sluggish consumption since beginning of the year. Concerns surround Spain’s finances as Madrid holds back from applying for bailout for fear of political backlash at home.

Warehouse stock for Copper at LME was at 220301 mt that is up by 350mt.

Resistance is at 460-475-490

Trend Deciding Point at 451.25

Support at 436.25-427.65-412.65

Today Commodity Advises:

BUY CRUDE MCX OCT ABOVE 4890 SL 4940 TGT 4854-4812.
SELL REF SOYA OIL NCDEX OCT BELOW 716.50 SL 719 TGT 714.50-712.50
SELL NICKLE BELOW 975 SL 986 TGT 965-955
SELL SOYABEAN NCDEX OCT BELOW 3385 SL 3415 TGT 3350-3315.

Commodities Out Look 11 Sep’2012

Posted on September 11, 2012 by Sree Lakshmi Reddy

GOLD:

Gold trading range for the day is 31747-32131.

Gold settled flat on profit booking after disappointing U.S. payrolls data boosted hopes that FED could unveil new stimulus

Gold imports by China from Hong Kong rose to 75,842 kilograms (about 76 metric tons) in July

Holdings of gold-backed exchange-traded funds rose to an all-time high of 72.492 million ounces.

SILVER:

Silver trading range for the day is 63277-64987.

Silver prices ended with gains tracking gains in base metals and crude prices

Downbeat US nonfarm payrolls in August also pushed hopes for QE3 by Fed in its interest rate meeting this Wednesday

Holdings at ishares silver trust gained by 69.32 tonnes to 9803.55 tonnes.

CRUDE:

Crude trading range for the day is 5259-5387.

Crude gains as supportive expectations that the U.S. Federal Reserve will act to stimulate the economy supported prices

Saudi Arabia Oil Minister Ali al-Naimi said that the recent rise in oil prices is not due to any lack of supply

U.S. crude oil stockpiles likely fell last week, with U.S. Gulf Coast oil production and imports still reeling after Hurricane Isaac

Crude is holding with a support at 5259 and resistance will be likely at 5387.

COPPER:

Copper trading range for the day is 444.6-459.

Copper rose driven by the increased likelihood of more economic stimulus in China and the United States

China’s August copper imports fell 2.9% from the previous month

The Chinese data “highlight the continued weakness in demand in the largest global consumer of commodities”.

Warehouse stock for Copper at LME was at 214650mt that is down by -1300mt.

ZINC:

Zinc trading range for the day is 106.78-112.88.

Zinc gains following their global counterparts as hopes of monetary stimulus from China and US firmed sentiments.

China’s industrial production rose 8.9% in August from a year earlier, lower than July’s 9.2%,

Downbeat US nonfarm payrolls in August also pushed hopes for QE3 by Fed in its interest rate meeting this Wednesday

Warehouse stock for Zinc at LME was at 938275mt that is down by -3925mt.

NICKLE:

Nickel prices ended with gains as risk appetite grew amid stimulus from the US and the EU

The growing expectation over QE3 after disappointing nonfarm data and ECB’s bond-buying plan boosted confidence

German Constitutional Court’s decision on whether or not grant ESM is a risk window this week.

Warehouse stock for Nickel at LME was at 120816mt that is down by -264mt.

NATURAL GAS:

Natural Gas trading range for the day is 145.83-155.83.

Natural gas ended higher despite of forecasts for cooler temperatures

Also supportive was the aftermath of Hurricane Isaac, which shut much of the natural gas production in the Gulf of Mexico.

Any significant gains were likely to be capped amid ongoing concerns over bloated U.S. inventory levels.

ALUMINIUM:

Aluminium trading range for the day is 110.17-115.17.

Aluminium ended higher as raising expectations for policy easing by the People’s Bank of China supported prices

China’s imports unexpectedly dropped 2.6% YoY in August while exports grew only 2.7% YoY, both missing forecasts

Downbeat US nonfarm payrolls in August also pushed hopes for QE3 by Fed in its interest rate meeting this Wednesday

Warehouse stock for Aluminium at LME was at 4869925mt that is down by -1500mt..

MENTHA OIL:

Mentha oil trading range for the day is 1356.1-1383.5.

Menthaoil spot is at 1522/-.Spot market is down by Rs.16/-.

Menthaoil dropped on profit booking tracking weakness in spot market demand.

Delhi government slaps ban on all gutka products

The total arrivals of mentha oil stood steady at 600-650 drums.

TODAY’S COMMODITY ADVICE:

BUY SILVER MCX DEC ABOVE 64140 SL 63940 TGT 64320-64560-64720.
BUY GOLD MCX OCT ABOVE 31950 SL 31870 TGT 31990-32035-32095.
BUY NATURAL GAS SEPT ABOVE 153.50 SL 150.50 TGT 155.20-157.50-159.

Commodity Outlook for 05 Sep’2012

Posted on September 5, 2012 by Sree Lakshmi Reddy

GOLD:

Gold trading range for the day is 31225-31599.

Gold settled higher on weaker US data fuelling expectations the Fed will implement fresh stimulus measures.

Gold seen support as ECB will announce details of measures to help stabilize the region’s sovereign debt markets.

ECB says gold, gold receivables fell EU1 mln in week. Forex reserves fell EU2.1 bln to EU241.9 bln.

SILVER:

Silver trading range for the day is 60952-62744.

Silver gained after data showed that manufacturing activity in U.S. contracted for third consecutive month in August

The Fed meets next week to discuss monetary policy, leaving the ECB’s meeting on Thursday in focus.

Holdings at is shares silver trust dropped by 28.63 tonnes to 9642.97 tonnes

CRUDE:

Crude trading range for the day is 5235-5453.

Crude ends lower as weak data adds to economic worries

Oil futures were higher earlier in the session as market sentiment improved after ECB President Mario barrel.

Prices getting support on growing concerns over tightening supplies from the North Sea region & Tropical Storm Leslie.

COPPER:

Copper trading range for the day is 427.1-432.7.

Copper dropped as U.S. data added further concern about the state of the global economy

ECB is expected to unveil details of a long-awaited debt-buying scheme to tackle the region’s debt crisis

Market sentiment remained upbeat amid growing speculation Fed was moving closer to stimulate growth in US economy

Warehouse stock for Copper at LME was at 218800mt that is down by -6475mt.

ZINC:

Zinc trading range for the day is 102.4-105.4.

Zinc gained despite of lower than expected PMI from the US ISM exerted pressure on base metal market

China’s demand for refined zinc weakened in August from July diluting hopes for a fourth-quarter rise in consumption.

Moody’s adjustment and warning added pressure on the EBC’s debt purchase plan.

Warehouse stock for Zinc at LME was at 949550mt that is down by -1525mt.

NICKLE:

Nickel trading range for the day is 886.7-915.

Nickel dropped as as lower-than-expected PMI from the US Institution of Supply and Management weighed on market.

Market is waiting for decisions and detailed rules of debt purchase plan from Draghi at the european central bank meeting

Commodities had limited downside room, though, as downbeat data was twined with expectations for easing policies.

Warehouse stock for Nickel at LME was at 119724mt that is down by -60mt.

NATURAL GAS:

Nat.Gas trading range for the day is 152.17-165.77.

Natural gas rallied +3.24% nearly four weeks high as renewed tropical storm activity in the Gulf of Mexico.

US National hurricane Center said Tropical Storm Leslie could strengthen into a hurricane.

Despite of gains, prices were expected to remain under pressure amid ongoing concerns over inventory levels.

ALUMINIUM:

Aluminium trading range for the day is 105.18-109.38.

Aluminium gained as downbeat data was twined with expectations for easing policies.

Investors expected the ECB would introduce the long-awaited bond buying program at its meet on Thursday

Moody’s adjustment and warning added pressure on the EBC’s debt purchase plan.

Warehouse stock for Aluminium at LME was at 4878475mt that is down by -6475mt.

Market Weekly Outlook 03-07 September’2012

Posted on September 3, 2012 by Sree Lakshmi Reddy

The market is likely to be volatile this week.
Automobile and cement stocks will be focus as companies from these two sector start unveil monthly sales volume data for August 2012 from Saturday, 1 September 2012.
Market Economics will unveil HSBC India Manufacturing Managers’ Index (PMI) for August 2012 on Monday, 3 September 2012. On Wednesday, 5 September 2012, Market Economics will unveil HSBC India Services PMI for August 2012.
The HSBC India Manufacturing PMI, which gauges business activity at India’s factories but not utilities, fell to 52.9 in July, from 55 in June ~ its biggest one-month drop since September last year. Still, the index has remained above the 50 mark that divides growth and contraction for more than three years. Manufacturing accounts for around 15% of India’s gross domestic product.
In Europe, European Central Bank (ECB) holds its monthly policy meeting on euro area interest rates on Thursday, 6 September 2012. The ECB slashed its interest rates to an all-time low in July. The ECB is expected to continue its easing cycle, probably as soon as in September, to help the economic recovery of recession- and crisis-ridden members of the euro zone.
German Chancellor Angela Merkel holds a meeting with Spanish Prime Minister Mariano Rajoy on Thursday, 6 September 2012.
UK’s central bank — The Bank of England — holds its monthly meeting on interest rates on Thursday, 6 September 2012.
The Federal Open Market Committee (FOMC) holds a two-day meeting on US interest.

Nifty Weekly View:

Nifty taking Support @ 50DMA. Now 50 DMA @ 5258. As per Trend line another gigantic Support at 5200. Any Close below this 5200, will Drag Nifty 200 DMA at 5120 levels.
On the Upside Bulls have a seen close above 5355 and then a close above 5400. After then can move towards 5488 and 5577 levels.
Our short term target for Nifty: The Minimum Target will be 4700+1097 = 5867.

So these levels should be noted carefully to found further Support and Resistance.

Nifty made low on 20-12-2011 @ 4531 Nifty made high on 22-02-2012 @ 5628 Total Rally is 1097 Points. 75% correction of 1097 is 822 @ 4805. Nifty may bounce from 4770 levels. The minimum Target will be 4770+1097= 5867. Only Close below 4977 will terminate above view.
Nifty weekly Range will be at 5200-5244-5288-5355-5400-5438
Weekly Resistance at 5355-5400-5488
Weekly Axle at 5288
Weekly Support at 5244-5200.

Gold Weekly View

Gold Mcx October as seen in the weekly chart above has opened at 30,984.00 initially moved lower, and as expected found very good support at 30,656.00 levels. Later prices rallied sharply towards 31,405 levels and finally closed sharply higher from the previous weeks closing levels.
This week we expect gold prices to find Support at 31,130.00–31,000.00 levels and further below strong support is seen at 30,860.00-30,830.00 levels. Trading consistently below 30,820.00 levels would trigger sharp correction initially towards 30,382.00 then 30,198.00 and then finally towards the major support at 29,756.00 levels.
Resistance is observed in the range of 31,600.00-31,630.00 levels. Trading consistently above 31,630 levels would lead towards the strong resistance at 31,880.00levels, and then finally towards the Major resistance at 32,200.00 levels.

Gold Trading levels for the week:

Trend: UP
Support at 31,130.000-30,860.00
Resistance at 31,600.00-31,800.00
Advice: Buy Gold Mcx Oct Around 31,140.00-31,000.00 SL 30,700.00 Target 31,600.00

{Or}

Sell Gold Mcx Oct Around 31,840.00-31,880.00 SL 32,160.00 Target 31,500.00

Silver Weekly View

Silver Mcx December as seen in the weekly chart above has opened at 59,700.00 levels initially moved lower, but found support at 58,601.00 levels. Later prices rallied sharply towards 61,170.00 levels, and finally closed sharply higher from the previous weeks closing levels.
This week we expect Silver prices to find support in the range of 60,240.00-60,200.00 levels and then strong support is seen at 59,300.00-59,250.00 levels. Trading consistently below 59,240.00 levels would trigger correction initially towards 58,240.00 levels and then finally towards the major support at 57,670.00 levels.
Resistance is now observed in the range of 61,880.00-61,940.00 levels. Trading consistently above 61,940.00 levels would lead towards the strong resistance at 62,800.00 levels and then finally towards the major Resistance at 63,400.00 levels.

Silver Trading levels for the week:

Trend: Up
Support at 60,240.00-59,300.00
Resistance at 61,880.00-62,800.00
Advice: Buy Silver Mcx Dec Around 60240-60140 SL 59200 Target 61300.

{Or}

Sell Silver Mcx Dec Around 61940-61880 SL 62400 Target 61500-60850.

Copper Weekly View:

Copper Mcx November as seen in the weekly chart above has opened at 431.15 levels initially moved higher, but found strong resistance at 432.90 levels. Later prices fell sharply towards 423.00 levels and finally closed lower from the previous weeks closing levels.
This week we expect Copper prices to find support in the range of 422.50-421.50 levels and further below strong support is seen at 417.80-416.80 levels. Daily closing below 416.80 levels would indicate that a short term top has been posted and thereby correction can be expected initially towards 413 and then finally towards 408.80 levels.
Resistance is now observed in the range of 431-433 levels. Trading consistently above 433 levels would lead towards the strong resistance at 437.60 and then finally towards the major resistance at 441.10 levels.

Copper Trading levels for the week:

Trend: Side-Ways
Support at 422.50-417.80
Resistance at 431.10-437.60
Advice: Buy Copper MCX Nov Around 422.50-421.50 SL 417 Target 428-431.

Crude Weekly View:

Crude Mcx September as seen in the weekly chart above has opened at 5363.00 levels initially moved sharply higher and as expected found good resistance at 5424.00 levels. Later prices fell sharply towards 5257.00 levels and finally closed marginally higher from the previous weeks closing levels.
This week we expect Crude prices to find support at 5295.00-5285.00 levels. Trading consistently below 5280.00 levels would lead towards the strong support at 5130.00-5110.00 levels. Daily closing below 5100.00 levels would indicate that the current rally has come to end and thereby correction can be expected initially towards 4990.00 levels and then finally towards the major support at 4893.00 levels.
Resistance is now observed in the range of 5456.00-5466.00 levels. Trading consistently above 5470.00 levels would extend the previous week’s rally initially towards 5548.00 levels and then finally towards the Major resistance at 5625.00 levels.

Crude Oil Trading levels for the week:

Trend: Up
Support at 5295.00-5130.00
Resistance at 5456.00-5548.00
Advice: Buy Crude Mcx Sep Around 5300-5290 SL 5235 Target 5365-5450.

Economic Indicators For The Week:

Date & Time	Region	Events	Period	Survey	Prior
09/03/2012 & 06:30	CH	Non-Manufacturing PMI	Aug	—	55.6
09/03/2012 & 08:00	CH	HSBC Manufacturing PMI	Aug	—	49.3
09/03/2012 & 10:30	JN	Vehicle Saies {YoY}	Aug	—	36.10%
09/03/2012 & 10:02	GE	PMI Manufacturing	Aug F	45.1	45.1
09/03/2012 & 13:30	EC	PMI Manufacturing	Aug F	45.3	45.3
09/03/2012 & 14:00	UK	PMI Manufacturing	Aug	46.1	45.4
09/04/2012 & 14:30	EC	Euro-Zone PPI {MoM}	Jul	0.20%	-0.50%
09/04/2012 & 19:30	US	ISM Manufacturing	Aug	50	48
09/04/2012 & 19:30	US	ISM Price Paid	Aug	46	39.5
09/04/2012 & 19:30	US	Construction Spending MoM	Jul	0.4%	0.4%
09/05/2012 & 02:30	US	Total Vehicle Sales	Aug	14.20M	14.05M
09/05/2012 & 02:30	US	Domestic Vehicle Sales	Aug	11.05M	11.00M
09/05/2012 & 8:00	CH	HSBC Services PMI	Aug	—	53.1
09/05/2012 &13:25	GE	PMI Services	Aug F	48.3	48.3
09/05/2012 &13:30	EC	PMI Composite	Aug F	46.6	46.6
09/05/2012 & 13:30	EC	PMI Services	Aug F	47.5	47.5
09/05/2012 & 14:30	EC	Euro-Zone Retail Sales(MoM)	Jul	-0.20%	0.10
09/05/2012 & 16:30	US	MBA Mortgage Application	31-Aug	—	-4.30%
09/05/2012 & 18:00	US	Nonfarm Productivity	2QF	1.80%	1.60%
09/05/2012 & 18:00	US	Unit Labor cost	2QF	1.40%	1.70%
09/06/2012 & 14:30	EC	Euro Zone GDP s.a.(QoQ)	2QP	-0.20%	-0.20%
09/06/2012 & 15:30	GE	Factory Orders MoM (sa)	Jul	0.30%	-1.70%
09/06/2012 & 16:30	UK	BOE ANNOUNCES RATES	6-Sep	0.50&%	0.50%
09/06/2012 & 17:15	EC	ECB Announces Interest Rates	6-Sep	0.50%	0.75%
09/06/2012 & 17:45	US	EDP Employment Change	Aug	145K	165K
09/06/2012 & 18:00	US	Continuing Claims	25-Aug	3315K	3316K
09/06/2012 & 19:30	US	ISM Non-Manf.Composite	Aug	52.5	52.6
09/07/2012 & 11:30	GE	Export SA(MoM)	Jul	-0.50%	-1.05%
09/07/2012 & 11:30	GE	Imports SA {MoM}	Jul	-0.30%	-3.00%
09/07/2012 & 11:30	GE	Current Account {Euro}	Jul	13.5B	16.5B
09/07/2012 & 11:30	GE	Trade Balance	Jul	15.3B	17.9B
09/07/2012 & 14:00	UK	Industrial Production {MoM}	Jul	1.50%	-2.50%
09/07/2012 & 14:00	UK	Manufacturing production {MoM}	Jul	1.80%	-2.90%
09/07/2012 & 15:30	GE	Industrial Production MoM {Sa}	Jul	0.00%	-0.90%
09/07/2012 & 18:00	US	Change in Non Farm Payrolls	Aug	125K	163K
09/07/2012 & 18:00	US	Change in Private Payrolls	Aug	140K	172K
09/07/2012 & 18:00	US	Change In Manufact. Payrolls	Aug	10K	25K
09/07/2012 & 18:00	US	Unemployment Rate	Aug	8.30%	8.30%
07-12 Sep	GE	Whole Sale Price Index {Mom}	Aug	—-	0.30%

Upcoming IPO – Comfort Commotrade Limited (CCL)

Posted on August 28, 2012 by Sree Lakshmi Reddy

Incorporated in 2007, Comfort Commotrade Limited (CCL) is currently engaged in the business of commodity broking. They offers trading in many commodities such as bullion (gold, silver), energy (crude oil, natural gas), metals, food grains (rice, maize), spices, oil and oil seeds and others. They are the member of MCX and NCDEX.

Comfort Group is headquartered in Mumbai. The group is also engaged in the business of providing loans through its group company Comfort Intech Limited. The Company has a diversified client base that includes HNIs, retail customers, mutual fund houses, financial institutions, corporate clients and others.

Company Promoters:

The promoters of the company are:

Mr. Anil Agrawal
Mrs. Annu Agrawal

Objects of the Issue:

The objects of this Issue are to raise funds to:

1. Expand their business operations;

2. Enhancement of margin money maintained with the exchanges;

3. General corporate purpose;

4. Issue expenses.

Issue Details:

Issue Open: Sep 05, 2012 – Sep 10, 2012
Issue Type: Fixed Price Issue IPO
Issue Size: 6,000,000 Equity Shares of Rs. 10
Issue Size: Rs. 6.00 Crore
Face Value: Rs. 10 per Equity Share
Issue Price: Rs. 10 per Equity Share
Market Lot: 10000 Shares
Minimum Order Quantity: 10000 Shares
Listing At: BSE/NSE