Share Tips Expert Commodity Report 24122010

8/8/2019 Share Tips Expert Commodity Report 24122010

1/8

Daily Commodity Market Update as on Friday, December 24, 2010

PRECIOUS METALS COMPLEX

NAME OP EN HI GH LOW CLOSE % CNG

GOLD 20469 20494 20436 20458 0.10SILVER 44375 44435 44354 44380 -0.11

GOLD 1379.35 1385.40 1375.60 1382.80 0.21SILVER 29.26 29.39 29.21 29.34 0.17PLATINUM 1711.00 1729.50 1710.00 1712.00 0.06

Bullion eased yesterday before fund selling after mixedeconomic data took the metal low as investors look toend a record breaking year by taking some profits off thetable before the holidays.

SPOT $

MCX


CRUDE 4145 4163 4145 4158 0.36N.GAS 184.10 184.10 183.00 183.70 -0.54

ENERGY COMPLEX

Crude oil surged above USD 91 a barrel to its highestprice in more than two years, as OPEC member Libya'sapparent lack of concern over prices prompted, Ultra-coldweather stoking demand and depleting US stockpiles alsosu orted rices. Also Natural Gas traded in the ran e of

MCX

CRUDE 89.99 90.80 89.85 90.48 0.54


.182-188 despite of colder weather.

BASEMETAL COMPLEX

MCX

. . . . .ZINC 103.75 104.40 103.55 104.05 0.48NICKEL 1077.90 1086.60 1077.90 1081.00 0.38LEAD 110.50 111.20 110.15 110.75 0.50ALUMINIUM 110.1 110.95 110 110.35 0.46

COPPER 9350.00 9371.00 9205.00 9351.00 0.43 3000ZINC 2325.00 2330.50 2275.00 2314.00 1.00 -200

Base meta s counter yester ay en e wea as argenumber of long positions liquidate in the market afterprofit-taking, and market sentiment was depressed.

LME STOCKLM E

COPPERZINC

370725698625. . . . .

NICKEL 24200.00 2463.75 23650.00 23900.00 0.25 570LEAD 2431.00 2470.00 2395.00 2450.00 0.82 -25ALUMINIUM 2460.00 2470.00 2425.25 2450.00 0.53 -6225

SENSEX NIFTY NASDAQ S&P NYSE DOW JON NIKKEI SHICOM KOREA HKFE $ INDEX20073.66 6011.6 2230.27 1256.77 7921.92 11573.49 10279.19 2835.16 2029.6 22833.8 80.45

NICKELLEADALUMINIUM

136878207850

4275275

GLOBAL MARKETS UPDATE

0.45 0.53 -0.25 -0.16 -0.12 0.12 -0.65 -0.7 -0.39 -0.3 -0.34

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2/8

OPEN20469HIGH

ACTION BUY GOLD FEB @ 20410-435 SL 20370 TGT 20460-20490.MCX

CLOSE20458

20494LOW

20436

% CNG0.10

VOLUME F U T U R

RE CNG

Gold yesterday traded as per expectation with the bearish tone as investors look to end a

21

18305

3545OI

INTRADAY LEVELS X G O L D

P.P. 20463SUP 1 RES 120431 20489SUP 2 RES 220405 20521SUP 3 RES 320373 20547

recor rea ng year y a ng some pro s o e a e e ore e o ays. o ease a eropening at 20505, before fund selling after mixed economic data took the metal to an intradaylow of 20382. Sporadic physical interest took us back to opening levels but volumes soonfaded and range trading commenced. Quiet trade for the remainder of the session took us toa close of 20438. now technically market is trading in the range as RSI for 18days is currentlyindicating 50.97, where as 50DMA is at 20395.26 and gold is trading above the same andgetting support at 20376 and below could see a test of 20316 level, And resistance is nowlikely to be seen at 20503, a move above could see prices testing

M

44354

OPEN44375HIGH

44435

ACTION SILVER WILL TRADE IN THE RANGE 44000-44600 RANGE WAIT FOR FRESH ENTRY.MCX

LOW U R E

-0.11VOLUME

3905OI

16700RE CNG

44380% CNG

V E R F U

P.P. 44390SUP 1 RES 144344 44425SUP 2 RES 2

INTRADAY LEVELSSilver slipped from the opening session from 44401 and eventually trading down to a low of 44011 holding support at 44000 marks. The metal later climbed reaching an intraday high of 44450 breaking the morning high on short covering. Range trading for the remainder of thesession took us to a close of 44439. Silver technical support and resistance points lie at 44000and 44670. The Gold and silver ratio looks poised to drop to the 2006 low of 44.08. now

-50

M C X S I

44309 44471SUP 3 RES 344263 44506

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tec nica y mar et is tra ing in t e range as RSI or 18 ays is current y in icating 63.9, w ereas 50DMA is at 41552.56 and silver is trading above the same and getting support at 44144and below could see a test of 43858 level , And resistance is now likely to be seen at 44583, amove above could see prices testing 44736


3/8

E

ACTION CRUDE OVERRANNED WILL WAIT FOR FRESH ENTRY IMP SUPPORT IS AT 4115.MCX

OPEN4145HIGH

4158% CNG

0.36VOLUME

F U T U

R 4163LOW

4145CLOSE

22039RE CNG

15

INTRADAY LEVELS

13146OI

X C R U D

P.P. 4155SUP 1 RES 14148 4166SUP 2 RES 24137 4173SUP 3 RES 34130 4184

ru e o yes er ay umpe y a mos an a ove a a ove a arre o shighest price in more than two years, as OPEC member Libya's apparent lack of concern overprices prompted, Ultra-cold weather stoking demand and depleting US stockpiles alsosupported prices. Now technically market is trading in the range as RSI for 18days is currentlyindicating 69.41, where as 50DMA is at 3946.28 and crude is trading above the same andgetting support at 4107 and below could see a test of 4072 level, And resistance is now likelyto be seen at 4167, a move above could see prices testing 4192.

M C

HIGH

428.10LOW

425.75 T U R E

ACTION BUY COPPER FEB @ 423.50 SL 421 TGT 424.80-426.50.MCX

OPEN425.90

RE CNG

% CNG0.41

VOLUME19283

OI38040

427.35

P P E R F U

P.P. 427.1SUP 1 RES 1426.0 428.4SUP 2 RES 2

1.75

INTRADAY LEVELSCopper prices slipped back to 425.60 after having surged to record highs during the course of the week as a weaker dollar and supply worries helped to drive the price of the red metalupwards. Copper, used in power and construction, hit a high of 428.95 on Tuesday and is nowup by 25% over the course of this year. Supply problems have played a part in recent pricesurges, and these were brought back into focus on Wednesday by news that the troubled M

C X C O

424.7 429.4SUP 3 RES 3423.7 430.7

o a uas m ne was av ng o oo or new rou es or s ou pu a er e a ac e porterminal, which supplies the mine, was shut down due to an accident. In yesterday's tradingsession copper has touched the low of 422.3 after opening at 426.25, and finally set tled at425.6. For today's session market is looking to take support at 423.2, a break below could see



4/8

ACTION BUY ZINC DEC @ 103.50 SL 102.60 TGT 104-104.80.MCX

OPEN103.75HIGH

VOLUME

LOW

103.55CLOSE104.05% CNG

0.48

F U T U R E 104.40

INTRADAY LEVELS

Zinc yesterday we have seen that market has moved -1.26%, zinc prices dipped as large

4702OI

7983RE CNG

0.5

C X Z I N C

P.P. 104.0SUP 1 RES 1103.6 104.5SUP 2 RES 2103.2 104.9SUP 3 RES 3102.8 105.3

number of long positions liquidate in the market after profit-taking, and market sentiment wasdepressed. LME zinc prices overnight down USD 2/mt and closed at USD 2,302/mt sinceinvestors left the market after profit-taking as Christmas holiday nears. Market has opened at104.3 & made a low of 102.95 versus the day high of 104.5. The total volume for the day wasat 16839 lots and the open interest was at 8285.Now support for the zinc is seen at 102.8 andbelow could see a test of 102.1. Resistance is now likely to be seen at 104.4, a move abovecould see prices testing 105.2.

M

1077.90 U R E

ACTION SELL NICKEL DEC @ 1090-1095 SL ABV 1105 TGT 1082-1070-1062.MCX

OPEN1077.90

HIGH

1086.60LOW

10621OI

10892RE CNG

1081.00% CNG

0.38VOLUME

K E L F U

P.P. 1081.8SUP 1 RES 1

1077.1 1085.8SUP 2 RES 2

Nickel yesterday traded with the negative node and settled -1.37% down at 1076.9, LMEnickel prices fell to test USD 23,700/mt Trading volumes were thin before the Charismas eve,and nickel fundamentals were poor at present. Chinas imports of nickel ore hit new high, upby 81.84% YoY and up by 13.86% MoM, indicating increased capacity of NPI. In addition,exports of Chinas stainless steel are also increasing, weighing on nickel prices. Funds may

- -

4.1

INTRADAY LEVELS

M C X N I

1073.1 1090.5SUP 3 RES 3

1068.4 1094.5

ow into ot er mar et ut avoi entering nic e mar et uring t e pre- o i ay or post- o i ayperiod. In yesterday's trading session nickel has touched the low of 1070.5 after opening at1087.5, and finally settled at 1076.9. For today's session market is looking to take support at1069, a break below could see a test of 1061 and where as resist is at 1095.



5/8

U R E

ACTION BUY ALUMINIUM DEC @ 109-109.50 SL 108 TGT 110.50-111.50.MCX

OPEN110.1HIGH

0.46VOLUME

110.95LOW

110CLOSE110.35% CNG

U M

F U

T

0.5

INTRADAY LEVELS

Aluminum yesterday traded with the negative node and settled -0.82% down at 109.85.

2248OI

2505RE CNG

L U M I N I

P.P. 110.4SUP 1 RES 1109.9 110.9SUP 2 RES 2109.5 111.4SUP 3 RES 3109.0 111.8

Some pressure had been seen from the LME stock also which came up by 5775mt, the totalstock at LME is now at 4281500mt. Spot aluminum market sentiment was neutral, and spotaluminum prices in east China failed to keep pace with future aluminum prices, Somesuppliers were still moving goods for cash at the end of year, but buyers only made purchasesmoderately, keeping trading sentiment sluggish. For today's session market is looking to takesupport at 109.3, a break below could see a test of 108.8 and where as resistance is nowlikely to be seen at 110.6, a move above could see prices testing 111.4.

M C X

LOW183.00 F U

T U R ACTION BUY NAT.GAS JAN ABV 190.50 SL 188.50 TGT 192.50-195-198.MCX

OPEN184.10HIGH

184.10

16389RE CNG

183.70% CNG-0.54

VOLUME2531

OI

R A G A S

P.P. 183.6SUP 1 RES 1183.1 184.2SUP 2 RES 2

-1

INTRADAY LEVELSNatural Gas yesterday we have seen that market has moved -0.38% dipped after agovernment report showed that U.S. stockpiles fell more than expected last week. Gasinventories declined by 184 billion cubic feet in the week ended Dec. 17 to 3.368 trillion cubicfeet, the Energy Department. Temperatures in the northern Midwest may average below-normal in January, February and March, according to the National Weather Service. Gas

X N A T U

182.5 184.7SUP 3 RES 3182.0 185.3

www.sharetipsexpert.com

inventories have been declining since Nov. 19 as cold weather sparks demand for the heatingfuel.Now support for the Natural Gas is seen at 182 and below could see a test of 179.3.Resistance is now likely to be seen at 187.7, a move above could see prices testing 190.7.

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M


6/8

MONTH RATE FEB APRIL JUNE MONTH RATE MARCH MAY JULY

FEB 20458 187 365 MARCH 44380 180 332

ACTIVE SPREAD UPDATE

DAI LY SP READ I N GOLD - MCX DAI LY SP READ I N SILVER - MCX

APRIL 20645 178 MAY 44560 152

JUNE 20823 JULY 44712

Spread between Gold FEB & APR contracts yesterdayended at 187, we have seen yesterday that the goldmarket had traded with a positive node and settled 0.1%up. Spread yesterday traded in the range of 165 - 190.

Spread between Silver MAR & MAY contracts yesterdayended at 180, we have seen yesterday that the silvermarket had traded with a negative node and settled -0.11% down. Spread yesterday traded in the range of 180 - 194.

MONTH RATE JAN FEB MARCH MONTH RATE FEB APRIL

JAN 4158 56 102 FEB 427.35 2.15

FEB 4214 46 APRIL 429.50

MARCH 4260

DAI LY SP READ I N CRUDE - MCX DAILY SP READ I N COP P ER - MCX

Spread between crude JAN & FEB contracts yesterdayended at 56, we have seen yesterday that the crude

market had traded with a ositive node and settled 0.36%

Spread between copper FEB & APR contracts yesterdayended at 2.15, we have seen yesterday that the copper

market had traded with a ositive node and settled

MONTH RATE DEC JAN MONTH RATE DEC JAN

DEC 104.05 1.25 DEC 1081 10.60 M A R K E

DAILY SPREAD IN ZINC - MCX

.up. Spread yesterday traded in the range of 53 - 60. 0.41% up. Spread yesterday traded in the range of 2.1 -

2.6.

DAILY SP READ IN NICKEL - MCX

JAN . JAN

S P R

E A D

Spread between zinc DEC & JAN contracts yesterdayended at 1.25, we have seen yesterday that the zincmarket had traded with a positive node and settled 0.48%up. Spread yesterday traded in the range of 1 - 1.3.

Spread between nickel DEC & JAN contracts yesterdayended at 10.60, we have seen yesterday that the nickelmarket had traded with a positive node and settled0.38% up. Spread yesterday traded in the range of 10.20- 12.1.

MONTH RATE DEC JAN MONTH RATE DEC JAN

DEC 183.70 5.20 DEC 1124.00 14.00

JAN 188.90 JAN 1138.00

DAILY SP READ IN MENTHOL - MCXDAILY SPREAD IN N AT. GAS - MCX

Spread between natural gas DEC & JAN contractsyesterday ended at 5.20, we have seen yesterday that thenatural gas market had traded with a negative node and

Spread between menthol oil DEC & JAN contractsyesterday ended at 14.00, we have seen yesterday thatthe menthol oil market had traded with a positive node

settled -0.54% down. Spread yesterday traded in therange of 4.3 - 5.2.

and settled 0.42% up. Spread yesterday traded in therange of 14 to 17.4.



7/8

DAY TI ME CURRENCY F or ec as t P r ev io us

All Day EUR 0 0 A L

ECONOMICAL DATA

DATA

German Bank HolidayAll Day EUR 0 0

All Day USD 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 O N O M I

D A T A

0

0

0

Fr i

Italian Bank HolidayBank Holiday

0

0

0

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

E 00

0

0

Gold prices are likely to hit $1850 an ounce by the end of next year on strong demand from emerging economies andsupply side constraints, Paul Horsnell, managing director of Barclays Capital said in a media briefing. Gold will first

slide to $1,310-1,325 early next year on profit booking. But, the precious metal will get good buying support from

E

central banks in Asia and West Asia regions, who are looking for opportunities to increase their gold portfolio. Anyaim to pick up gold in good volume will raise prices steadily to $1,450 by mid-next year and then the targeted $1,850towards the end, Horsnell said Gold surged over 34 per cent since October 1, 2009 and 23 per cent so far this year.Today, spot gold in London was at $1,337.17 an ounce at 1242 GMT, down from $1,343.50 the day before and downfrom a session high of $1,349.05 as the dollar clawed back gains against the euro. Talking about Indias central bank,the Reserve Bank of India (RBI), Paul said, RBI picked up 200 tonnes of gold at the right time last year and is nowscouting for opportunities to buy more. The current official gold holding at 557.7 tonnes is just 7.5 per cent of RBIsasset allocations with nearly nine per cent of growth in the GDP. China being the worlds largest gold producer holds1,054 tonnes equivalent to a paltry 1.6 per cent of the central banks total asset portfolios. The country is

C A N U

un ers an a y n e process o ra s ng go por o o am ca y oo ng a a ou e g grow n e coun ry seconomy.

NCDEX seeks to upgrade APMC markets: Commodity exchange NCDEX on Wednesday said it is in talks with variousstate governments for upgrading agricultural produce marketing committee (APMC) markets on a build-operate-transfer basis. "We have submitted a proposal for upgrading APMC markets in Rajasthan, Karnataka, Maharashtraand MP on a build-o erate-transfer basis " NCDEX S ot Exchan e executive vice- resident Ra esh Sinha said. He said

W S Y O

- - , - .the company has earmarked a budget of Rs. 1 crore for upgrading each one of these markets. "We would equip themwith an electronic exchange and these would also be linked with others in different parts of the country, therebycreating a nationwide data bank for agri-produce in the country," Sinha said. The company will undertake theseupgrade projects through its subsidiary, NCDEX Spot Exchange (NSPOT). NSPOT will operate the market for 10years, following which it will be handed over to the mandi. NSPOT will work on continuous improvement of operationsand integrate these markets with continuous online electronic markets before handing them over, he said.:

N U.S. jobless claims dip, consumer spending rises: New U.S. claims for jobless benefits dipped last week andconsumer spending increased in November for a fifth straight month, reinforcing views of a solid economic growthpace in the fourth quarter. Initial claims fell 3,000 to a seasonally adjusted 420,000, the Labor Department said onThursday, matching economists' expectations. A separate report from the Commerce Department showed spendingrose 0.4 percent after increasing by an upwardly revised 0.7 percent in October. Economists polled by Reuters hadexpected spending, which accounts for about 70 percent of U.S. economic activity, to rise 0.5 percent last monthafter a previously reported 0.4 percent gain in October. "It hasn't been such a bad year for the economy -- we thinkit will grow around 2.5 percent this year and 3.5 percent next year. Unfortunately, it's been a jobless recovery," saidMichael Woolfolk, a senior currency strategist at BNY Mellon in New York. U.S. Treasury prices fell slightly after the


, . . .data, while stock index futures edged lower. The dollar held losses against the yen, but maintained gains versus theeuro. In another report, the Commerce Department said orders for long-lasting manufactured goods excludingtransportation increased 2.4 percent, the largest increase since March, after a 1.9 percent drop in October. Overallorders dropped by a larger-than-expected 1.3 percent last month, dragged down by a plunge in bookings for civilianaircraft and motor vehicles.


8/8

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Share Tips Expert Commodity Report 24122010