MOST ACCURATE COMMODITY MARKET TRENDS FOR TODAY 31-OCT-2013

MOST ACCURATE COMMODITY MARKET TRENDS FOR TODAY 31-OCT-2013

 

GOLD (5 DEC.) TREND: CONSOLIDATE
RES 1: 30450
RES 2: 30850
SUPP 1: 29925
SUPP 2: 29580
STRATEGY: SELL ON HIGHS

SILVER (5 DEC.) TREND: CONSOLIDATE
RES 1: 50400
RES 2: 50850
SUPP 1: 49400
SUPP 2: 49000
STRATEGY: SELL ON HIGHS

CRUDE OIL (19 NOV) TREND: BEARISH
RES 1: 6050
RES 2: 6120
SUPP 1: 5870
SUPP 2: 5760
STRATEGY: SELL ON HIGHS

COPPER (29 NOV.) TREND: CONSOLIDATE
RES 1: 454
RES 2: 457.30
SUPP 1: 446.50
SUPP 2: 443.30
STRATEGY: SELL ON HIGHS

LEAD (29 NOV) TREND: CONSOLIDATE
RES 1: 136.40
RES 2: 137.50
SUPP 1: 133.75
SUPP 2: 132.85
STRATEGY: SELL ON HIGHS

ZINC (29 NOV) TREND: CONSOLIDATE
RES 1: 121
RES 2: 121.80
SUPP 1: 119.20
SUPP 2: 118
STRATEGY: SELL ON HIGHS                        

ALUMINIUM (29 NOV) TREND: CONSOLIDATE
RES 1: 115.70
RES 2: 116.60   
SUPP 1: 113.70
SUPP 2:  112.50
STRATEGY: SELL ON HIGHS

NICKEL (29 NOV) TREND: CONSOLIDATE
RES 1: 907         
RES 2: 914.50
SUPP 1: 895.50
SUPP 2: 892.60
STRATEGY: SELL ON HIGHS

NATURAL GAS (25 NOV) TREND: CONSOLIDATE
RES 1: 227.70
RES 2: 232.50
SUPP 1: 220.40
SUPP 2: 217
STRATEGY: SELL ON HIGHS

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AGRI MARKET TRENDS FOR TODAY 30-OCT-2013

MOST ACCURATE  AND PROFITABLE AGRI MARKET TRENDS FOR TODAY 30-OCT-2013

CHANA (20 NOV.) TREND: CONSOLIDATE 
RES 1: 3185 
RES 2: 3215 
SUPP 1: 3095 
SUPP 2: 3060 STRATEGY: BUY ON DIPS

CASTORSEED (20 NOV.) TREND: CONSOLIDATE 
RES 1: 3640
RES 2: 3695 
SUPP 1: 3565 
SUPP 2: 3515 
STRATEGY: SELL ON HIGH 

DHANIYA (20 NOV.)TREND: CONSOLIDATE 
RES 1: 6915 
RES 2: 6985 
SUPP 1: 6820 
SUPP 2: 6795 
STRATEGY: BUY ON DIPS

SOYABEAN (20 NOV.) TREND: CONSOLIDATE 
RES 1: 3830 
RES 2: 3865 
SUPP 1: 3765 
SUPP 2: 3715 
STRATEGY: BUY ON DIPS

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COMMODITY MARKET TRENDS FOR TODAY 30-OCT 2013

COMMODITY MARKET TRENDS FOR TODAY 30-OCT 2013

GOLD (5 DEC.) TREND: CONSOLIDATE
RES 1: 30770
RES 2: 31000
SUPP 1: 29925
SUPP 2: 29600
STRATEGY: BUY ON DIPS

SILVER (5 DEC.) TREND: CONSOLIDATE
RES 1: 49820
RES 2: 50200
SUPP 1: 49060
SUPP 2: 48500
STRATEGY: BUY ON DIPS

CRUDE OIL (19 NOV) TREND: CONSOLIDATE
RES 1: 6100
RES 2: 6200
SUPP 1:6000
SUPP 2: 5940
STRATEGY: SELL ON HIGHS

COPPER (29 NOV.) TREND: CONSOLIDATE
RES 1: 453.20
RES 2: 457
SUPP 1: 444
SUPP 2: 441.50
STRATEGY: SELL ON HIGHS

LEAD (29 NOV) TREND: CONSOLIDATE
RES 1: 136
RES 2: 137.50
SUPP 1: 133.90
SUPP 2: 132
STRATEGY: SELL ON HIGHS

ZINC (29 NOV) TREND: CONSOLIDATE
RES 1: 112.90
RES 2: 121.70
SUPP 1: 118.60
SUPP 2: 117
STRATEGY: SELL ON HIGHS

ALUMINIUM (29 NOV) TREND: CONSOLIDATE
RES 1: 116
RES 2: 117.80   
SUPP 1: 113.70
SUPP 2:  112.50
STRATEGY: SELL ON HIGHS

NICKEL (29 NOV) TREND: CONSOLIDATE
RES 1: 908         
RES 2: 915
SUPP 1: 891.70
SUPP 2: 881
STRATEGY: SELL ON HIGHS

NATURAL GAS (25 NOV) TREND: CONSOLIDATE
RES 1: 228.20
RES 2: 234.60
SUPP 1: 220.80
SUPP 2: 215.70
STRATEGY: SELL ON HIGHS

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COMMODITY MARKET DAILY REVIEW 29-OCT-2013

GOLD , SILVER , COPPER , BASE METAL AND MANY MORE DAILY REVIEW29-OCT-2013

Gold

Gold prices closed on a flat note on Monday despite expectations of a continuing QE program as fall in SPDR Gold Holdings acted as a negative factor. Holdings in the world's largest gold ETF have slipped to 872.02 tonnes. Yesterday, a stronger DX also restricted upside in gold prices. In the Indian markets, prices rose 0.1 percent due to Rupee depreciation and closed at Rs.30758/10 gms after touching a high of Rs.31164/10 gms on Monday.

Gold imports in value terms in India dropped by 65 percent to $3.9 billion worth of gold in the Sep'13 quarter as compared to $11.1 billion for the same period last year. The decline in imports is mainly on the back of restrictions by the RBI on gold imports. On 22nd July'13, RBI introduced an 80:20 formula for imports of gold under which, 20 percent of every consignment of gold should be imported for re-export purposes. On a quarterly basis, import value for the yellow metal slipped by 76 percent from $16.5 billion in April quarter to $3.9 billion for the Q2 FY2013-14.

Silver
Spot silver prices slipped around 0.2 percent yesterday on the back of strength in the DX along with weak market sentiments in later part of the trade. However, sharp downside in prices was restricted as a result of rise in gold prices along with upside in base metals complex. The white metal touched an intra-day low of $22.32/oz and closed at $22.50/oz in yesterday's trade.

On the MCX, near month contract prices slipped around 0.3 percent and closed at Rs.49561/kg after touching an intra-day low of Rs.49432/kg on Monday.

Outlook
In today's trade, we expect gold prices to trade higher on account of expectations of delay in QE tapering program by the Federal Reserve. Further, a weaker DX will act as a positive factor. However, sharp upside will be capped as a result of decline in SPDR gold holdings. Rupee depreciation will support upside movement in precious metal prices on the MCX today.

Base Metals
Base metals on the LME traded higher yesterday mainly due to positive industrial production data from the US. Also, unfavorable pending home sales data lead to a expectations of delay in QE tapering by Federal Reserve acted as a positive factor.

However, strength in the DX along with mixed inventories scenario restricted gains in prices.

In the Indian markets, base metals traded on a positive note due to Rupee depreciation.

Copper
LME Copper traded on a flat note yesterday mainly on positive industrial production data along with unfavorable pending home sales which signaled delay in QE taper. Further, decline in LME inventories by 0.6 percent to 478,200 tonnes supported gains.

However, strength in the DX along with weak global market sentiments capped sharp gains. Also, rise in interest rates in China, the biggest consumer, continue to exert downside pressure on prices of the red metal. The metal touched an intra-day low of $7155/tonne and closed at $7178/tonne on Monday.

The near month MCX Copper contrac t traded on a flat note and Rupee depreciation prevented sharp fall in prices.
 

 Outlook
In today's session, we expect base metals group to trades higher on the back of expectations of delay in QE tapering by the Federal Reserve along with weakness in the DX. Further, favorable US industrial production data in yesterday's trade will support an upside in prices. However, sharp upside in prices will be capped as a result of forecast for decline in US consumer confidence data in the evening session. Additionally, decline in US pending home sales data in previous trade will restrict positive movement in prices. In the Indian market, Rupee depreciation will support upside in prices.
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Indian stock market daily morning report

Indian stock market daily morning report

Markets ended lower on Monday as investors turned cautious and booked profits ahead of the RBI monetary policy review on Tuesday. FMCG majors coupled with bank shares contributed the most to the decline.

The 30-share Sensex ended down 113 points at 20,570 and the 50-share Nifty closed 44 points lower at 6,101.

- Shares of two gold finance companies hit their upper circuit limits of 5% each on BSE on market buzz that the central bank may allow them to lend 75% of the value of jewellery compared with 60% at present.

Muthoot Finance and Manappuram Finance were both locked at their respective 5% upper circuit of Rs 104.70 and Rs 15.73.

- Bharat Gears was locked at 20% upper circuit at Rs 42 on BSE after net profit jumped 672.9% to Rs 3.71 crore on 8.5% growth in net sales to Rs 108.69 crore in Q2 September 2013 over Q2 September 2012.

- Ajanta Pharma closed 14.74% up at Rs 839.75 on BSE after net profit surged 155% to Rs 56 crore on 50% growth in revenue from operations to Rs 280 crore in Q2 September 2013 over Q2 September 2012.

- Colgate-Palmolive (India) closed 3.96% down at Rs 1,228.10 on BSE after net profit declined 24.51% to Rs 109.52 crore on 16% growth in net sales to Rs 895.70 crore in Q2 September 2013 over Q2 September 2012.

- Among the 13 BSE Sectoral Indices, 3 sectors ended the day in positive while 10 sectors ended in negative. Top Gainers: BSE Consumer Durables up by 1.29% and bSe Capital Goods by 0.98%. Top Losers: BSE FMCG down by 2.56% and BSE Realty by 2.10%.

Market breadth was negative at ~0.702 as investors sold large cap stocks. On provisional basis, FII's bought Rs 6.37bn worth of Indian equities and DII's sold Rs 9.03 worth of equities.

Economic and Corporate Developments

- The government and the RBI are considering easing the 80:20 rule that requires importers to supply at least 20% of their imports to exporters.

Officials said the rule is inhibiting imports and traders have made a presentation to the government to relax the condition as it is troublesome for them to show proof of export for every lot of imports.

Buzzing Stocks

- Excel Crop Care was locked at 5% upper circuit at Rs 289.40 on BSE after the company said its board will consider a scheme of arrangement between the company and Gujarat-based TML Industries.

- Dabur India closed 3.75% down at Rs 175.65 on BSE after consolidated net profit rose 23.4% to Rs 249.74 crore on 14.9% growth in net sales to Rs 1,749 crore in Q2 September 2013 over Q2 September 2012.

- HOV Services hit an upper circuit limit of 20% at Rs 38.90 on BSE on a media report that the company has put its BPO company, SourceHOV for sale and is expecting a valuation of $1.2 billion.

- Neyveli Lignite Corporation closed 1.47% down at Rs 57.05 on BSE after net profit declined 28.3% to Rs 240 crore on 2.5% growth in net sales to Rs 1,382.82 crore in Q2 September 2013 over Q2 September 2012.

- Taj GVK Hotels & Resorts lost 1.16% to Rs 55.20 on BSE after the company reported net loss of Rs 1.90 crore in Q2 September 2013 as against net profit of Rs 1.6- crore in Q2 September 2012.

- Essel Propack closed 5.40% up at Rs 43.95 on BSE after consolidated net profit rose 23.45% to Rs 28.69 crore on 10.38% increase in net total income from operations to Rs 526.07 crore in Q2 September 2013 over Q2 September 2012.

- Bharti Infratel closed 1.50% dwon at Rs 154.15 on BSE after consolidated net profit fell 22.43% to Rs 277.40 crore on 2.35% increase in revenue to Rs 2,683.70 crore in Q2 September 2013 over Q1 June 2013.

- Commercial Engineers & Body Builders Company lost 4.6% at Rs 11 on BSE after the company reported net loss of Rs 15.0- crore in Q2 September 2013 as against net profit of Rs 16.29 crore in Q2 September 2012.

- Everest Industries closed 13.71% down at Rs 129.95 on BSE after the company reported net loss of Rs 6.65 crore in Q2 September 2013 as against net profit of Rs 12.51 crore in Q2 September 2012.

- Kolte-Patil Developers rose 3.82%, in the morning trade, to Rs 80.20 on BSE after consolidated net profit jumped 64.4% to Rs 32.23 crore on 1.3% fall in net sales to Rs 187.43 crore in Q2 September 2013 over Q2 September 2012.

- KEC International closed 10.86% up at Rs 34.20 on BSE after consolidated net profit surged 34% to Rs 22 crore on 6.6% growth in net sales to Rs 1,77- crore in Q2 September 2013 over Q2 September 2012.

- Just Dial closed 3.13% up at Rs 1,057.95 on BSE after net profit rose 97.93% to Rs 28.66 crore on 28.56% rise in net sales to Rs 112.66 crore in Q2 September 2013 over Q2 September 2012.

- JSW Energy closed 2.71% down at Rs 44.95 on BSE after net profit fell 35.82% to Rs 163 crore on 2.5% decline in total income from operations to Rs 2,025 crore in Q2 September 2013 over Q2 September 2012.

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RBI expected to raise interest rates, roll back rupee support

The RBI is expected to raise policy interest rates for the second time in as many months on Tuesday to fight stubbornly high inflation, while rolling back further emergency measures put in place recently to support the slumping rupee.

Despite the risks to an already sluggish economy, the Reserve Bank of India (RBI) is forecast to lift its policy repo rate by 25 basis points (bps) to 7.75 percent, according to 29 of 41 economists polled by Reuters.
New RBI chief Raghuram Rajan, a high-profile former chief economist at the International Monetary Fund, took office in early September and stunned markets in his first policy review just weeks later by raising interest rates to combat fierce price pressures dogging Asia's third-largest economy.

"Given that food price inflation is at a 38-month high, there is a risk that it could spread to generalised inflation expectations," said Samiran Chakraborty, head of research at Standard Chartered in Mumbai.

Annual food inflation accelerated to 18.4 percent in September, its highest since mid-2010, pushed up by prices of vegetables including onions and stirring public discontent ahead of national elections which must be held by next May.
"At this moment, it is likely that overall there would be a bias towards fighting inflation," he said, adding that the RBI may raise the policy repo rate by 25 bps on Tuesday and by the same amount in December.

In its quarterly macroeconomic review on Monday, the central bank said it expects inflation to remain near current elevated levels for the remainder of the fiscal year that ends in March.
"Both WPI (wholesale price index) and CPI (consumer price index) inflation may stay range-bound around the current levels that remain above comfort levels," it said in its report.
FURTHER UNWINDING OF RUPEE MEASURES SEEN
While the central bank looks set to raise its repo rate, it is likely to cushion the blow to credit markets by further unwinding liquidity tightening measures implemented this summer as it struggled to shore up the tumbling rupee.

The rupee slumped to record lows in August, at one point sliding some 20 percent for the year, on concerns about the country's gaping current account and fiscal deficits, and as global investors dumped emerging market assets for fear the U.S. Federal Reserve was set to start tapering its massive stimulus programme.

The currency has since clawed back some ground, giving the RBI room to lower its Marginal Standing Facility (MSF) rate a further 25 bps to 8.75 percent, the Reuters poll showed. Lowering the MSF, an overnight borrowing rate for banks, eases the cost of funds for lenders, fuelling credit growth.

The RBI had jacked up the MSF by 200 bps in July as the rupee sagged. It rolled back 75 bps of that at its September 20 review and another 50 bps earlier this month. The combination of a repo increase and further MSF cuts would restore the gap between the two rates to its usual 100 bps.

The rupee closed on Monday at 61.52 to the dollar, down 10.6 percent on the year, after stabilising in recent months on the back of India's support measures as well as the delay in the Fed's expected winding-down of its stimulus.
"The strategy will be to continue on the path of dismantling the extraordinary measures taken during the rupee crisis. I don't think he (Rajan) will be ultra-hawkish and will emphasise that growth is a concern and that also needs to be tackled," said Abheek Barua, chief economist at HDFC Bank.

India's economy grew at 4.4 percent in the June quarter, the slowest since early 2009. The 5 percent growth rate recorded in the last fiscal year through March was the weakest in a decade.

On Monday, the RBI said it expects a "modest" growth improvement in the second half of the fiscal year.

Still, the headline wholesale price index (WPI) unexpectedly hit a seven-month high in September of 6.46 percent as food prices surged, while the consumer price index jumped an annual 9.84 percent, spurring expectations for another rate hike.

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NCDEX/AGRI MARKET TRENDS FOR TODAY 29-OCT-2013

AGRI MARKET TRENDS FOR TODAY 29-OCT-2013

CHANA (20 NOV.) TREND: CONSOLIDATE 
RES 1: 3185
RES 2: 3215
SUPP 1: 3095
SUPP 2: 3060
STRATEGY: BUY ON DIPS

SOYBEAN (20 NOV.) TREND: CONSOLIDATE 
RES 1: 3830
RES 2: 3865
SUPP 1: 3765
SUPP 2: 3715
STRATEGY: BUY ON DIPS

DHANIYA (20 NOV.)TREND: CONSOLIDATE 
RES 1: 6915
RES 2: 6985
SUPP 1: 6820
SUPP 2: 6795
STRATEGY: BUY ON DIPS

CASTORSEED (20 NOV.) TREND: CONSOLIDATE 
RES 1: 3680
RES 2: 3705
SUPP 1: 3565
SUPP 2: 3515
STRATEGY: SELL ON HIGH  

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MOST PROFITABLE COMMODITY MARKET TRENDS FOR TODAY 29-OCT-2013

MOST PROFITABLE COMMODITY MARKET TRENDS FOR TODAY 29-OCT-2013

GOLD (5 DEC.) TREND: CONSOLIDATE
RES 1: 31000
RES 2: 31160
SUPP 1: 30450
SUPP 2: 30150
STRATEGY: BUY ON DIPS

SILVER (5 DEC.) TREND: CONSOLIDATE
RES 1: 49980
RES 2: 50300
SUPP 1: 49100
SUPP 2: 48550
STRATEGY: BUY ON DIPS

CRUDE OIL (19 NOV) TREND: CONSOLIDATE
RES 1: 6150
RES 2: 6230
SUPP 1:6020
SUPP 2: 5950
STRATEGY: SELL ON HIGHS

COPPER (29 NOV.) TREND: CONSOLIDATE
RES 1: 449.35
RES 2: 454.80
SUPP 1: 443
SUPP 2: 438.70
STRATEGY: SELL ON HIGHS

LEAD (31 OCT) TREND: CONSOLIDATE
RES 1: 136
RES 2: 137.50
SUPP 1: 133.70
SUPP 2: 132.20
STRATEGY: SELL ON HIGHS

ZINC (31 OCT) TREND: CONSOLIDATE
RES 1: 119.65
RES 2: 120.20
SUPP 1: 117.70
SUPP 2: 116.60
STRATEGY: SELL ON HIGHS

ALUMINIUM (31 OCT) TREND: CONSOLIDATE
RES 1: 114.75    
RES 2: 116          
SUPP 1: 111.70
SUPP 2:  110
STRATEGY: SELL ON HIGHS

 NICKEL (31 OCT) TREND: CONSOLIDATE
RES 1: 901          
RES 2: 910
SUPP 1: 884.80
SUPP 2: 872.70
STRATEGY: SELL ON HIGHS

NATURAL GAS (25 NOV) TREND: CONSOLIDATE
RES 1: 224.75
RES 2: 228.60
SUPP 1: 215.50
SUPP 2: 211
STRATEGY: SELL ON HIGHS

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MOST ACCURATE BANK NIFTY AND NIFTY MARKET TRENDS FOR TODAY 29-OCT-2013

MOST ACCURATE BANK NIFTY AND NIFTY MARKET TRENDS FOR TODAY 29-OCT-2013

BANK NIFTY TREND- CONSOLIDATE 

RES1:10980 

RES2:11130 

SUPP1:10570 

SUPP2:10400 

STRATEGY- SELL ON HIGH

NIFTY SPOT TREND- CONSOLIDATE 

RES1:6170 

RES2:6220 

SUPP1:6030 

SUPP2:5955 

STRATEGY- SELL ON HIGH

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Indian Stock Market Trading Tips Free for Tomorrow 28 Oct 13

MOST ACCURATE STOCK TRADING CALLS FOR TOMORROW 28-OCT 2013

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ECLERX SERVICES BUY ABOVE 1071

TG-1081/1093/1107 

SL-1064  

MONNET ISPAT SELL BELOW 122 

TG-120.50/118.50/116 

SL-123.10

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NATURAL GAS AND OIL DAILY REVIEW FOR TODAY 28-OCT-2013

DAILY OIL & NATURAL GAS REVIEW 28-10-2013

Crude Oil

Nymex crude oil prices declined around 3 percent in the last week on the back of rising trend in API and US crude oil inventories. Further, rise in US crude oil production along with slow refinery activity expectations exerted downside pressure on the prices. Additionally, decline in US manufacturing data acted as a negative factor.

Prices tend to recover in later part of the week but remained negative after unfavorable economic data from the US increased expectations of delay in QE tapering program by the Federal Reserve. Crude oil prices touched a weekly low of $95.95/bbl and closed at $97.90/bbl in last trading session of the week.

On the domestic bourses, prices slipped around 2.4 percent and closed at Rs.6045/bbl on Friday after touching a low of Rs.5937/bbl in the last week. Rupee depreciation restricted sharp fall in prices.

 Natural Gas

On a weekly basis, Nymex natural gas prices slipped by more than 1 percent on the back of more than expected rise in US natural gas inventories.

Weakness in the DX prevented sharp fall in prices. Gas prices touched a weekly low of $3.545/mmbtu and closed at $3.727/mmbtu in last trade of the week.

In the Indian markets, prices dropped around 1.6 percent and closed at Rs.227.30/mmbtu on Friday after touching a low of 218.60/mmbtu in the previous week.

Outlook

From the intra-day perspective, we expect crude oil prices to trade higher on the back of expectations of delay in QE tapering program by the Federal Reserve. Further, weakness in the DX will support an upside in prices. Additionally, forecast for rise in US industrial production data in the evening session will act as positive factor for prices. But, rising trend in inventories, increase in US crude production along with expectations of ease of sanctions on Iran will cap sharp gains in prices. In the Indian markets, Rupee appreciation will restrict upside in oil prices.

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COMMODITY MARKET TREDING TIPS FOR TODAY 28-OCT-2013

MOST ACCURATE MCX/COMMODITY MARKET TRENDS FOR 28-OCT-2013

GOLD (5 DEC.) TREND: CONSOLIDATE
RES 1: 31200
RES 2: 31500  
SUPP 1: 30560
SUPP 2: 30300
STRATEGY: BUY ON DIPS

 SILVER (5 DEC.) TREND: CONSOLIDATE
RES 1: 50330  
RES 2: 50600
SUPP 1: 49130
SUPP 2: 48560
STRATEGY: BUY ON DIPS

CRUDEOIL (19 NOV.) TREND: CONSOLIDATE
RES 1: 6100
RES 2: 6160
SUPP 1: 5935
SUPP 2: 5880 
STRATEGY: SELL ON HIGHS

COPPER (29 NOV.) TREND: CONSOLIDATE
RES 1: 448.60
RES 2: 454.80
SUPP 1: 443.00
SUPP 2: 438.00
STRATEGY: SELL ON HIGHS

LEAD (31 OCT.) TREND: CONSOLIDATE
RES 1: 135.15
RES 2: 136.00
SUPP 1: 133.25
SUPP 2: 131.70
STRATEGY: SELL ON HIGHS

ZINC (31 OCT.) TREND: CONSOLIDATE
RES 1: 118.90
RES 2: 119.90
SUPP 1: 117.10
SUPP 2: 116.50
STRATEGY: SELL ON HIGHS

ALUMINIUM (31 OCT.) TREND: CONSOLIDATE
RES 1: 113.40 
RES 2: 114.70
SUPP 1: 112.00
SUPP 2:  110.70
STRATEGY: SELL ON HIGHS

NICKEL (31 OCT.) TREND: CONSOLIDATE
RES 1: 896.00 
RES 2: 910.00
SUPP 1: 885.00
SUPP 2: 870.00
STRATEGY: SELL ON HIGHS

NATURAL GAS (28 OCT.) TREND: CONSOLIDATE
RES 1: 229.00
RES 2: 232.70
SUPP 1: 225.00
SUPP: 222.90
STRATEGY: SELL ON HIGHS

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NIFTY AND BANK NIFTY MARKET TRENDS FOR TODAY-28-OCT-2013

NIFTY AND BANK NIFTY MARKET TRENDS FOR TODAY-28-OCT-2013

NIFTY SPOT TREND- CONSOLIDATE 

RES1:6220 

RES2:6260 

SUPP1:6070 

SUPP2:6000 

STRATEGY- BUY ON DIPS

BANK NIFTY TREND- CONSOLIDATE 

RES1:11080 

RES2:11290 

SUPP1:10720 

SUPP2:10545 

STRATEGY- BUY ON DIPS

 

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STOCK MARKET TRADING CALL FOR MONDAY 28-OCT-2013

MOST ACCURATE AND PROFITABLE STOCK MARKET TRADING CALL FOR MONDAY 28-OCT-2013

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UNITED SPIRITS FUTURES BUY ABOVE 2630 

TG-2655/2700
SL-2609

RCOM FUTURES BUY ABOVE 145 

TG-146/148
SL-144.30

HINDALCO FUTURES SELL BELOW 109.40 

TG-108.40/106.50
SL-110.1

IDEA FUTURES SELL BELOW 172.25 

TG-171/168.50
SL-173.1

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GOLD AND SILVER DAILY REVIEW 25-OCT-2013

GOLD AND SILVER DAILY MARKET REVIEW 25-OCT-2013

Gold

Spot gold prices gained by more than 1 percent yesterday on the back of upbeat market sentiments after expectations of delay in QE tapering program by the Federal Reserve. Further, weaker DX also supported an upside in prices.

Gold prices managed to trade on a positive note despite decline in ETF holdings managed under SPDR Gold Holdings Trust which slipped around 0.2 percent to 876.52 tonnes. The yellow metal touched an intra-day high of $1351.61/oz and closed at 1346.50/oz in yesterday's trading session.

In the Indian markets, prices rose 1.3 percent and closed at Rs.30562/10 gms after touching an intra-day high of Rs.30635/10 gms on Thursday.

Silver

Taking cues from positive sentiments in gold and the base metals space, silver prices gained around 0.8 percent yesterday. Further, weakness in the DX supported an upside in prices. The white metal touched an intra-day high of $22.85/oz and closed at $22.70/oz in yesterday's trade.

On the MCX, near month contract prices increased by 0.7 percent and closed at Rs.50107/kg after touching an intra-day high of Rs.50330/kg on Thursday. Rupee appreciation capped sharp gains in prices.

Outlook

In today's trade, we expect gold prices to trade higher on account of expectations of delay in QE tapering program by the Federal Reserve. Further, a weaker DX will act as a positive factor. However, sharp upside will be capped as a result of decline in SPDR gold holdings.

Rupee depreciation will lead to further gains in precious metal prices on the MCX today.

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Gold regains 32,000 level on seasonal demand, global cues

Gold regains 32,000 level on seasonal demand, global cues

Amid rising domestic demand and a firming global trend, gold prices today regained Rs 32,000 per ten gram level after seven weeks in the national capital. Gold prices spurted by Rs 480 to Rs 32,410 per ten gram, a level last seen on September 4, while silver held steady at Rs 50,200 per kg on lack of support from industrial units. Traders said increased buying of gold by stockists and jewellers to meet the rising festive and marriage season demand, amid firming global trend, influenced the sentiment.

While gold gained in domestic markets for the coming Diwali festival demand, a rising trend in global markets as the dollar fell against the euro, boosting demand for precious metals as an alternative investment, remained positive factors for the market. Gold in London, which normally sets price trend on the domestic front, rose 0.6 per cent to USD 1,341.90 an ounce. On the domestic front, gold of 99.9 and 99.5 percent purity soared by Rs 480 each to Rs 32,410 and Rs 32,210 per ten gram, respectively. The metal had gained Rs 305 yesterday. Sovereign held steady at Rs 25,300 per piece of eight gram. On the other hand, silver ready and weekly-based delivery held unchanged at Rs 50,200 and Rs 50,000 per kg, respectively. Silver coins, which normally used for "Puja" on Diwali festival and gifting during marriage celebrations, spurted by Rs 1,000 to Rs 88,000 for buying and Rs 89,000 for selling of 100 pieces on hectic demand.

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