Free Commodity Trading Tips 27-12-2010

8/8/2019 Free Commodity Trading Tips 27-12-2010

1/8

Daily Commodity Market Update as on Monday, December 27, 2010

PRECIOUS METALS COMPLEX

NAME OPEN HIGH LOW CLOSE % CNG

GOLD 20469 20494 20436 20479 0.21

SILVER 44375 44435 44354 44420 -0.02

GOLD 1384.25 1384.10 1371.85 1383.35 -0.07

SILVER 29.23 29.24 28.28 29.15 -0.21

PLATINUM 1723.00 1730.49 1699.50 1730.49 1.08

Gold prices edged higher supported by the euro's

recovery from a three-week low versus the dollar, and as

a further ratings downgrade stoked concerns over euro

zone debt. Silver ended flat due to less liquidity in the

market and minimal physical buying ahead of the year

end.

SPOT $

MCX


CRUDE 4145 4164 4145 4161 0.43

N.GAS 184.10 184.10 183.00 183.60 -0.60

ENERGY COMPLEX

Crude oil ended higher supported by cold weather across

the globe, appetite for risk assets and signals from OPEC

it would not arrest the rally. Natural gas declined on

forecasts of warmer-than-normal weather that may curb

MCX

CRUDE 90.61 91.63 90.33 91.51 0.99


demand for the heating fuel.

BASEMETAL COMPLEX

MCX

. . . . .

ZINC 103.75 104.40 103.50 103.90 0.34

NICKEL 1077.90 1088.80 1077.90 1083.20 0.58

LEAD 110.50 111.20 110.15 110.70 0.45

ALUMINIUM 110.1 110.95 109 109.45 -0.37

COPPER 0.00 0.00 0.00 0.00 0.00 3000

ZINC 0.00 0.00 0.00 0.00 0.00 -200

Base metal ended firm in the range bound trade on Friday

as trading was erratic ahead of the Christmas break.

LME STOCKLM E

COPPER

ZINC

370725

698625. . . . .

NICKEL 0.00 0.00 0.00 0.00 0.00 570

LEAD 0.00 0.00 0.00 0.00 0.00 -25

ALUMINIUM 0.00 0.00 0.00 0.00 0.00 -6225

SENSEX NIFTY NASDAQ S&P NYSE DOW JON NIKKEI SHICOM KOREA HKFE $ INDEX

20062.57 6013.3 2230.27 1256.77 7921.92 11573.49 10364.63 2854.91 2031.23 22833.8 80.47

NICKEL

LEAD

ALUMINIUM

136878

207850

4275275

GLOBAL MARKETS UPDATE

-0.06 0.03 0 -0.16 -0.12 0.12 0.83 0.7 0.08 -0.3 -0.15

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2/8

OPEN

20469

HIGH

CLOSE

20479

% CNG

0.21

VOLUME

20494

LOW

20436

FUTUR

E

Gold prices edged higher supported by the euro's recovery from a three-week low versus the

42

RE CNG

5853

OI

18115

INTRADAY LEVELS

X

GOLD

P.P. 20470

SUP 1 RES 1

20445 20503

SUP 2 RES 2

20412 20528

SUP 3 RES 3

20387 20561

o ar, an as a ur er ra ngs owngra e s o e concerns over euro zone e . o yp ca ycomes under pressure from a softer euro and consequently stronger dollar, but its usual close

inverse relationship with the U.S. currency has weakened this year as both assets have

benefited from the euro zone debt crisis. Gold opened the day at 20469, before fund selling

after mixed economic data took the metal to an intraday low of 20436. Sporadic physical

interest took us back to opening levels but volumes soon faded and range trading

commenced. Quiet trade for the remainder of the session took us to a close of 20479. Now

support for the gold MCX is seen at 20445 and below could see a test of 20412. Resistance is

MC

44354

OPEN

44375

HIGH

44435LOW

UR

E

-0.02

VOLUME

6925

OI

16048

RE CNG

44420

% CNG

VERFU

P.P. 44403

SUP 1 RES 1

44371 44452

SUP 2 RES 2

INTRADAY LEVELSSilver ended flat due to less liquidity in the market and minimal physical buying ahead of the

year end. The prices to remain in a range though the overall trend will be positive on

weakness in dollar and in the course of persistent European debt crisis and Korean crisis.

Silver opened the day at 44375 and eventually trading down to a low of 44354. The metal

later climbed reaching an intraday high of 44435 on short covering. Range trading for the

-10

MCXS

I

44322 44484

SUP 3 RES 3

44290 44533

www.sharetipsexpert.com Page No. 2

rema n er o e sess on oo us o a c ose o . ow ec n ca y mar e s ra ng n e

range as RSI for 18days is currently indicating 63.46, where as 50DMA is at 41726 and silver

is trading above the same and getting support at 44371 and below could see a test of 44322

level, And resistance is now likely to be seen at 44452, a move above could see prices testing

Strictly for private circulation


3/8

4145

HIGH

OPEN

4161

% CNG

0.43

VOLUME

4164

LOW

4145CLOSE

FUTURE

21428

RE CNG

18

INTRADAY LEVELS

19493

OI

CRUDE

P.P. 4157

SUP 1 RES 1

4149 4168

SUP 2 RES 2

4138 4176

SUP 3 RES 3

4130 4187

Crude oil ended higher supported by cold weather across the globe, appetite for risk assets

and signals from OPEC it would not arrest the rally. OPEC's most influential oil minister, Saudi

Arabia's Ali al-Naimi, said he was still happy with an oil price of $70-$80 per barrel and there

was no need for an extra OPEC meeting before the next scheduled one in June. Now support

for the crude is seen at 4149 and below could see a test of 4138. Resistance is now likely to

be seen at 4168, a move above could see prices testing 4176.

MC

HIGH

428.10LOW

425.75TUR

EOPEN

425.90

RE CNG

% CNG

0.54

VOLUME

27790

OI

36727

427.90

PPERFU

P.P. 427.3

SUP 1 RES 1

426.4 428.8

SUP 2 RES 2

2.3

INTRADAY LEVELSCopper rose underpinned by expectations of restocking next year by top consumer China,

however trade was erratic ahead of the Christmas break. The latest stocks data showed that

copper stocks in Shanghai fell, but in LME sheds rose for a ninth session, having since mid-

month climbed some five percent as consumers shed inventory to cut costs over the break.

But at 370,725 tonnes, total stockpiles remain still down by one third from cycle highs ofMCXC

O

424.9 429.6

SUP 3 RES 3

424.1 431.1

555,075 tonnes seen in Fe ruary. Copper as touc e a ow o Rs 425.75 a g a ter opening

at Rs 425.9, and last traded at Rs427.9.For today market is looking for the support at 426.4,

a break below could see a test of 424.9 and where as resistance is now likely to be seen at

428.8, a move above could see prices testing 429.6.

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4/8

103.75

HIGH

OPEN

103.9

% CNG

0.34

VOLUME

104.40

LOW

103.5CLOSE

UTUR

E

7842

RE CNG

0.35

INTRADAY LEVELS

8324

OI

X

ZINC

P.P. 103.9

SUP 1 RES 1

103.5 104.4

SUP 2 RES 2

103.0 104.8

SUP 3 RES 3

102.6 105.3

nc yes er ay ra e w e pos ve no e an se e . up a . . ome suppor

had been seen from the LME stock also which came down by -50mt, the total stock at LME is

now at 698825mt. In yesterday's trading session zinc has touched the low of 103.5 after

opening at 103.75, and finally settled at 103.9. For today's session market is looking to take

support at 103.5, a break below could see a test of 103 and where as resistance is now likely

to be seen at 104.4, a move above could see prices testing 104.8. Spread between zinc DEC &

JAN contracts yesterday ended at 1.25. Spread yesterday traded in the range of 1 - 1.3.

MC

HIGH

1088.80LOW

1077.90UR

EOPEN

1077.90

RE CNG

% CNG

0.58

VOLUME

19095

OI

10044

1083.20

KELFU

P.P. 1083.3

SUP 1 RES 1

1077.8 1088.7

SUP 2 RES 2

6.3

INTRADAY LEVELSNickel yesterday traded with the positive node and settled 0.59% up at 1083.2 supported by

strong demand at the domestic spot market and tracking firm cues from London Metal

Exchange. Some pressure had been seen from the LME stock also which came up by 1026mt,

the total stock at LME is now at 136308mt. In yesterday's trading session nickel has touched

the low of 1077.9 after opening at 1077.9, and finally settled at 1083.2. For today's sessionMCXN

I

1072.4 1094.2

SUP 3 RES 3

1066.9 1099.6

mar et is oo ing to ta e support at 1077.8, a rea e ow cou see a test o 1072.4 an

where as resistance is now likely to be seen at 1088.7, a move above could see prices testing

1094.2. Spread between nickel DEC & JAN contracts yesterday ended at 11.10. Spread

yesterday traded in the range of 10.30 - 12.1.



5/8

OPEN

110.1

HIGHR

VOLUME

LOW

109CLOSE

109.45

% CNG

-0.37

110.95

UMFU

T

INTRADAY LEVELSChina may limit power supply to energy-intensive industries over winter session due to tight

6783

OI

2134

RE CNG

-0.4

LUMINI

P.P. 109.8

SUP 1 RES 1

108.7 110.6

SUP 2 RES 2

107.9 111.8

SUP 3 RES 3

106.7 112.6

supp y o coa , resu ng n ur ng ou pu o some me a s nc u ng a um num. ere ore,

aluminum prices may gain over the next three or four months on the back of shortage of

supply in China. Aluminium yesterday traded with the negative node and settled -0.36% down

at 109.45. Some pressure had been seen from the LME stock also which came up by 5775mt,

the total stock at LME is now at 4281500mt. In yesterday's trading session aluminium has

touched the low of 109 after opening at 110.1, and finally settled at 109.45. For today's

session market is looking to take support at 108.7, a break below could see a test of 107.9

and where as resistance is now likely to be seen at 110.6, a move above could see prices

MCX

LOW

183.00TURE

OPEN

184.10

HIGH

184.10

15793

RE CNG

183.60

-0.60

VOLUME

6047

OI

.GAS

F % CNG

P.P. 183.6

SUP 1 RES 1

183.0 184.1

SUP 2 RES 2

-1.1

INTRADAY LEVELSNatural gas declined on forecasts of warmer-than-normal weather that may curb demand for

the heating fuel. Gas inventories declined by 184 billion cubic feet in the week ended Dec. 17

to 3.368 trillion cubic feet, the Energy Department. Temperatures in the northern Midwest

may average below- normal in January, February and March, according to the National

Weather Service. Gas inventories have been declining since Nov. 19 as cold weather sparks

-

CXNA

182.5 184.7

SUP 3 RES 3

181.9 185.2

www.sharetipsexpert.com

eman or e ea ng ue . a ura as yes er ay we ave seen a mar e as move -

0.6%. Market has opened at 184.1 & made a low of 183 versus the day high of 184.1. The

total volume for the day was at 6047 lots and the open interest was at 15793.Now support for

the Natural Gas is seen at 183 and below could see a test of 182.5. Resistance is now likely to

Strictly for private circulation Page No. 5


6/8

DAILY SPREAD I N GOLD - MCX

ACTIVE SPREAD UPDATE

DAILY SPREAD IN SILVER - MCX

MONTH RATE FEB APRIL JUNE MONTH RATE MARCH MAY JULY

FEB 20479 183 343 MARCH 44420 193 289

APRIL 20662 160 MAY 44613 96JUNE 20822 JULY 44709

Spread between Silver MAR & MAY contracts yesterday

ended at 193, we have seen yesterday that the silver

market had traded with a negative node and settled -

0.02% down. Spread yesterday traded in the range of

182 - 195.

Spread between Gold FEB & APR contracts yesterday

ended at 183, we have seen yesterday that the gold

market had traded with a positive node and settled 0.21%

up. Spread yesterday traded in the range of 174 - 190.

MONTH RATE JAN FEB MARCH MONTH RATE FEB APRIL

JAN 4161 56 99 FEB 427.90 2.20

FEB 4217 43 APRIL 430.10

MARCH 4260

DAILY SPREAD IN CRUDE - MCX

DAILY SPREAD IN COPPER - MCX

ARKET

DAILY SPREAD IN ZINC - MCX

Sprea etween cru e JAN & FEB contracts yester ay

ended at 56, we have seen yesterday that the crude

market had traded with a positive node and settled 0.43%

up. Spread yesterday traded in the range of 55 - 60.

Sprea etween copper FEB & APR contracts yester ay

ended at 2.2, we have seen yesterday that the copper

market had traded with a positive node and settled

0.54% up. Spread yesterday traded in the range of 2.2 -

2.6.

DAILY SP READ IN NICKEL - MCX

MONTH MONTH

DEC 103.90 1.25 DEC 1083 11.10

JAN 105.15 JAN 1094

PREAD

Spread between zinc DEC & JAN contracts yesterday

ended at 1.25, we have seen yesterday that the zincmarket had traded with a positive node and settled 0.34%

up. Spread yesterday traded in the range of 1 - 1.3.

Spread between nickel DEC & JAN contracts yesterday

ended at 11.10, we have seen yesterday that the nickelmarket had traded with a positive node and settled

0.58% up. Spread yesterday traded in the range of 10.30

- 12.1.

MONTH RATE DEC JAN MONTH RATE JAN FEB

DEC 183.60 5.30 JAN 1133.90 8.40

JAN 188.90 FEB 1142.30

DAILY SP READ IN MENTHOL - MCX

S read between natural as DEC & JAN contracts S read between menthol oil JAN & FEB contracts

DAILY SPREAD IN N AT. GAS - MCX

yesterday ended at 5.30, we have seen yesterday that the

natural gas market had traded with a negative node and

settled -0.6% down. Spread yesterday traded in the rangeof 4.3 - 5.7.

yesterday ended at 8.40, we have seen yesterday that

the menthol oil market had traded with a negative node

and settled -0.11% down. Spread yesterday traded in therange of 2 to 8.4.



7/8

DAY TIME CURRENCY Forecast Prev ious

0 0 0 0

DATA

NO DATAL

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

0

0

0

Mo n

0

0

0

0

0

ONOMI

C

DATA

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

EC 0

0

0

0

E

,due to rise in global demand, a trade ministry official said. Total revenues from spices exports are seen rising 15 per

cent from Rs 5,560 crore the previous year, said the official, who handles spices exports. There is good demand for

our value-added spice products from countries like the US, Malaysia, Singapore, Dubai and Germany, which is

pushing overall exports higher, he said. He expressed concerns there could be a drop a chilli output and its quality

due to unexpected rains in main growing states such as Andhra Pradesh, Tamil Nadu, and Karnataka. According to

industry estimates, Andhra Pradeshs chilli output is seen falling 25 per cent on year this crop year (July-June). The

countrys chilli exports in April-October rose 26 per cent from a year ago to 141,000 tonnes and generated revenues

of Rs 865 crore, Spices Board data showed. Asked about the drop in exports of turmeric and pepper, the official said.

CA

N

U

Despite the untimely rains last month delaying sowing in Gujarat, the area under wheat sowing in the state has seenan increase of 1.74 lakh hectares over the last year. Many farmers are said to have chosen wheat over jeera in the

wake of erratic weather in November as jeera crop is quite sensitive to vagaries of the weather. As per the data

provided by the state agriculture department, the area under wheat cultivation so far is 9,75,200 hectares as against

WSYO

8,01,400 hectares in the corresponding period last year, which shows a rise of 1.74 lakh hectares. Good monsoon

and sufficient availability of water has helped increase the sowing of wheat in Gujarat. This will translate into a good

wheat production in the state, said B R Shah, agriculture director, department of agriculture, government of Gujarat.

Amid growing fear among farmers that taking up jeera crop could prove risky after unseasonal rain in November,

farming community decided to opt for wheat leading to an increasing in area under wheat crop. The farmers in

Jamnagar and Surendranagar districts, who saw their cotton getting damaged due to untimely rains, have also

turned to wheat.

N

Indian cash rates continued to trade firm on Friday tracking steady demand from cash-strapped banks but

expectations of some government spending and central bank's repo auction provided some support. Cash rates have

been in a tight range for sometime now and is likely to be like this till the time liquidity comes back into the system.

Government spending may happen, but such huge spending so as to ease cash rates looks unlikely. Reserve Bank of

India deputy governor Subir Gokarn said that while call rates were higher than the central bank's interest rate


corridor, they were stable, indicating there was no panic over liquidity.


8/8

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Free Commodity Trading Tips 27-12-2010