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Today's MCX Market Report 30 April

Rehana Kapoor
Rehana Kapoor

The document is a daily newsletter on commodities markets from TheEquicom. It provides analysis and outlook on precious metals like gold and silver, energy markets like crude oil and natural gas, and base metals like copper, lead, zinc, and aluminum. Key points include expectations for gold and silver prices in the near future, recovery in US natural gas production, milder weather forecast impacting natural gas prices, and ongoing oversupply in base metals markets except China. Technical charts with support and resistance levels and trading strategies are given for various commodities.

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www.TheEquicom.com +919200009266 30th APRIL2013 www.TheEquicom.com +919200009266 Daily MCX Newsletter 30th April2013 MCX NEWSLETTER- DAILY
www.TheEquicom.com +919200009266 MARKET WRAP
www.TheEquicom.com +919200009266 BULLION Silver futures for May delivery on India's Multi Commodity Exchange (MCX) may trade bullish according to our analyst and further buying is expected only above 46000 level for the day. Two major US data releases are scheduled at 06.00 PM IST today and may have high impact on bullion. Barclays expect gold prices to recover to an average $1,500/oz in Q4 13 but given the weight of cash negative ETP holdings, they believe downside risk still exists in the near term, and expects prices to average $1350/oz. Continued ETP outflows remain a key downside risk to prices in the near term and are on track to mark a fresh record high, surpassing the weakness in February. MARKET NEWS ENERGY According to pipeline data estimates, natural gas production has recovered in late April to above 65 Bcf/d and Barclays in its recent market report, expects production to average around this level before dipping into declines in the second half of the year. For next Tuesdays EIA-914 production report, Barclays expects a moderate m/m growth for Februarys natural gas lower-48 production. Furthermore, production should continue to recover in March and April, as well freeze offs slowly comes back online. Natural gas prices came off at the front end of the curve, with the prompt contract down 5% w/w, as the weather forecast for the next 15 days turned milder. BASE METAL LME cash price forecast to$16,766/t from $17,766/t and upgraded the size of the surplus to 108Kt from88Kt. LME stocks have risen 33Kt year-to- date, which particularly demonstrates the oversupply in the market ex-China, given that net refined imports into China rose 36% y/y in Q1 alone. Within China, while it is difficult to ascertain exact volumes and a breakdown between Private/SRB stockpiling, Barclays believe as much as 25Kt of inventory has built over the same period given ongoing weakness in the domestic stainless sector.
www.TheEquicom.com +919200009266 SILVER (5 JULY) OUTLOOK: TREND : - CONSOLIDATE RESISTANCE : - 46500, 47800 SUPPORT : - 45000, 44200 STRATEGY : - BUY ON DIPS BULLION GOLD (5 JUNE) OUTLOOK: TREND : - CONSOLIDATE RESISTANCE : - 27500, 27900 SUPPORT : - 26800, 26500 STRATEGY : - BUY ON DIPS TECHNICAL VIEW
www.TheEquicom.com +919200009266 CRUDEOIL (20 MAY) OUTLOOK: TREND : - BULLISH RESISTANCE : - 5190, 5280 SUPPORT : - 5020, 4950 STRATEGY : - BUY ON DIPS NATURAL GAS (28 MAY OUTLOOK: TREND : - BULLISH RESISTANCE : - 240, 242 SUPPORT : - 228, 225 STRATEGY : - BUY ON DIPS ENERGY
www.TheEquicom.com +919200009266 BASE METAL COPPER (28 JUNE) OUTLOOK: TREND : - CONSOLIDATE RESISTANCE : - 396, 400 SUPPORT : - 382, 378 STRATEGY : - BUY ON DIPS LEAD (31 MAY) OUTLOOK: TREND : - CONSOLIDATE RESISTANCE : - 112.80, 113.90 SUPPORT : - 109.50, 108.20 STRATEGY : - BUY ON DIPS
www.TheEquicom.com +919200009266 ZINC (31 MAY) OUTLOOK: TREND : - CONSOLIDATE RESISTANCE : - 103.50, 104.40 SUPPORT : - 101.80, 100.90 STRATEGY : - BUY ON DIPS ALUMINUM (31 MAY) OUTLOOK: TREND : - CONSOLIDATE RESISTANCE : - 103.20, 104.50 SUPPORT : - 101.40, 99.60 STRATEGY : - BUY ON DIPS NICKEL (31 MAY) OUTLOOK: TREND : - CONSOLIDATE RESISTANCE : - 860, 874 SUPPORT : - 825, 815 STRATEGY : - BUY ON DIPS
www.TheEquicom.com +919200009266 GOLD 1469.30 SILVER 24.2300 COPPER 03.2285 CRUDE OIL 94.3800 NATURAL GAS 04.3590 PALLADIUM 700.350 PLATINUM 1500.00 USDINR 54.2070 EURUSD 01.3091 USDJPY 98.0200 USDCHF 00.9376 GBPUSD 01.5482 USDCAD 01.0118 INTERNAIONAL MARKET
www.TheEquicom.com +919200009266 ECONOMIC CALANDER
www.TheEquicom.com +919200009266
www.TheEquicom.com +919200009266 Disclaimer The information and views in this report, our website & all the service we provide are believed to be reliable, but we do not accept any responsibility (or liability) for errors of fact or opinion. Users have the right to choose the product/s that suits them the most. Sincere efforts have been made to present the right investment perspective. The information contained herein is based on analysis and up on sources that we consider reliable. This material is for personal information and based upon it & takes no responsibility The information given herein should be treated as only factor, while making investment decision. The report does not provide individually tailor-made investment advice. TheEquicom recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a financial adviser. TheEquicom shall not be responsible for any transaction conducted based on the information given in this report, which is in violation of rules and regulations of NSE and BSE. The share price projections shown are not necessarily indicative of future price performance. The information herein, together with all estimates and forecasts, can change without notice. Analyst or any person related to TheEquicom might be holding positions in the stocks recommended. It is understood that anyone who is browsing through the site has done so at his free will and does not read any views expressed as a recommendation for which either the site or its owners or anyone can be held responsible for . Any surfing and reading of the information is the acceptance of this disclaimer. All Rights Reserved. Investment in Commodity and equity market has its own risks. We, however, do not vouch for the accuracy or the completeness thereof. we are not responsible for any loss incurred whatsoever for any financial profits or loss which may arise from the recommendations above. TheEquicom does not purport to be an invitation or an offer to buy or sell any financial instrument. Our Clients (Paid Or Unpaid), Any third party or anyone else have no rights to forward or share our calls or SMS or Report or Any Information Provided by us to/with anyone which is received directly or indirectly by them. If found so then Serious Legal Actions can be taken.

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Today's MCX Market Report 30 April

  • 3. www.TheEquicom.com +919200009266 BULLION Silver futures for May delivery on India's Multi Commodity Exchange (MCX) may trade bullish according to our analyst and further buying is expected only above 46000 level for the day. Two major US data releases are scheduled at 06.00 PM IST today and may have high impact on bullion. Barclays expect gold prices to recover to an average $1,500/oz in Q4 13 but given the weight of cash negative ETP holdings, they believe downside risk still exists in the near term, and expects prices to average $1350/oz. Continued ETP outflows remain a key downside risk to prices in the near term and are on track to mark a fresh record high, surpassing the weakness in February. MARKET NEWS ENERGY According to pipeline data estimates, natural gas production has recovered in late April to above 65 Bcf/d and Barclays in its recent market report, expects production to average around this level before dipping into declines in the second half of the year. For next Tuesdays EIA-914 production report, Barclays expects a moderate m/m growth for Februarys natural gas lower-48 production. Furthermore, production should continue to recover in March and April, as well freeze offs slowly comes back online. Natural gas prices came off at the front end of the curve, with the prompt contract down 5% w/w, as the weather forecast for the next 15 days turned milder. BASE METAL LME cash price forecast to$16,766/t from $17,766/t and upgraded the size of the surplus to 108Kt from88Kt. LME stocks have risen 33Kt year-to- date, which particularly demonstrates the oversupply in the market ex-China, given that net refined imports into China rose 36% y/y in Q1 alone. Within China, while it is difficult to ascertain exact volumes and a breakdown between Private/SRB stockpiling, Barclays believe as much as 25Kt of inventory has built over the same period given ongoing weakness in the domestic stainless sector.
  • 4. www.TheEquicom.com +919200009266 SILVER (5 JULY) OUTLOOK: TREND : - CONSOLIDATE RESISTANCE : - 46500, 47800 SUPPORT : - 45000, 44200 STRATEGY : - BUY ON DIPS BULLION GOLD (5 JUNE) OUTLOOK: TREND : - CONSOLIDATE RESISTANCE : - 27500, 27900 SUPPORT : - 26800, 26500 STRATEGY : - BUY ON DIPS TECHNICAL VIEW
  • 5. www.TheEquicom.com +919200009266 CRUDEOIL (20 MAY) OUTLOOK: TREND : - BULLISH RESISTANCE : - 5190, 5280 SUPPORT : - 5020, 4950 STRATEGY : - BUY ON DIPS NATURAL GAS (28 MAY OUTLOOK: TREND : - BULLISH RESISTANCE : - 240, 242 SUPPORT : - 228, 225 STRATEGY : - BUY ON DIPS ENERGY
  • 6. www.TheEquicom.com +919200009266 BASE METAL COPPER (28 JUNE) OUTLOOK: TREND : - CONSOLIDATE RESISTANCE : - 396, 400 SUPPORT : - 382, 378 STRATEGY : - BUY ON DIPS LEAD (31 MAY) OUTLOOK: TREND : - CONSOLIDATE RESISTANCE : - 112.80, 113.90 SUPPORT : - 109.50, 108.20 STRATEGY : - BUY ON DIPS
  • 7. www.TheEquicom.com +919200009266 ZINC (31 MAY) OUTLOOK: TREND : - CONSOLIDATE RESISTANCE : - 103.50, 104.40 SUPPORT : - 101.80, 100.90 STRATEGY : - BUY ON DIPS ALUMINUM (31 MAY) OUTLOOK: TREND : - CONSOLIDATE RESISTANCE : - 103.20, 104.50 SUPPORT : - 101.40, 99.60 STRATEGY : - BUY ON DIPS NICKEL (31 MAY) OUTLOOK: TREND : - CONSOLIDATE RESISTANCE : - 860, 874 SUPPORT : - 825, 815 STRATEGY : - BUY ON DIPS
  • 8. www.TheEquicom.com +919200009266 GOLD 1469.30 SILVER 24.2300 COPPER 03.2285 CRUDE OIL 94.3800 NATURAL GAS 04.3590 PALLADIUM 700.350 PLATINUM 1500.00 USDINR 54.2070 EURUSD 01.3091 USDJPY 98.0200 USDCHF 00.9376 GBPUSD 01.5482 USDCAD 01.0118 INTERNAIONAL MARKET
  • 11. www.TheEquicom.com +919200009266 Disclaimer The information and views in this report, our website & all the service we provide are believed to be reliable, but we do not accept any responsibility (or liability) for errors of fact or opinion. Users have the right to choose the product/s that suits them the most. Sincere efforts have been made to present the right investment perspective. The information contained herein is based on analysis and up on sources that we consider reliable. This material is for personal information and based upon it & takes no responsibility The information given herein should be treated as only factor, while making investment decision. The report does not provide individually tailor-made investment advice. TheEquicom recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a financial adviser. TheEquicom shall not be responsible for any transaction conducted based on the information given in this report, which is in violation of rules and regulations of NSE and BSE. The share price projections shown are not necessarily indicative of future price performance. The information herein, together with all estimates and forecasts, can change without notice. Analyst or any person related to TheEquicom might be holding positions in the stocks recommended. It is understood that anyone who is browsing through the site has done so at his free will and does not read any views expressed as a recommendation for which either the site or its owners or anyone can be held responsible for . Any surfing and reading of the information is the acceptance of this disclaimer. All Rights Reserved. Investment in Commodity and equity market has its own risks. We, however, do not vouch for the accuracy or the completeness thereof. we are not responsible for any loss incurred whatsoever for any financial profits or loss which may arise from the recommendations above. TheEquicom does not purport to be an invitation or an offer to buy or sell any financial instrument. Our Clients (Paid Or Unpaid), Any third party or anyone else have no rights to forward or share our calls or SMS or Report or Any Information Provided by us to/with anyone which is received directly or indirectly by them. If found so then Serious Legal Actions can be taken.