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Transcript of Daily commodity report_17_feb_2014 by epic research

YOUR MINTVISORY Call us at +91-731-6642300

17th FEBRUARY

DAILY COMMODITY REPORT

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17th FEBRUARY

COMMODITY CONTRACT OPEN PRICE HIGH LOW CLOSE PRICE %CHANGE OI (in lots)

GOLD 05 APR 2014 29230.00 29426.00 20230.00 29184.00 0.58 10782

SILVER 05 MAR 2014 44999.00 46337.00 44999.00 44922.00 3.00 11311

CRUDE 19 FEB 2014 6244.00 6244.00 6156.00 6253.00 -0.99 10481

NATURAL GAS 25 FEB 2014 320.50 333.90 320.10 318.70 2.35 14089

COPPER 28 FEB 2014 446.95 447.50 444.75 446.30 -0.08 10507

NICKEL 28 FEB 2014 883.10 886.80 880.10 881.80 -0.05 6201

LEAD 28 FEB 2014 131.60 132.50 131.55 131.55 0.15 3322

ZINC 28 FEB 2014 126.25 127.25 126.25 126.30 0.24 3346

ALUMINIUM 28 FEB 2014 106.50 107.00 106.00 106.45 -0.33 3504

DAILY MARKET WRAPUP

METAL TONNES IN STORAGE

ALUMINIUM -10575

COPPER -1550

LEAD -500

NICKEL -276

ZINC -4150

LME WAREHOUSE STOCKS (14-FEB- 2014)

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COMMODITY UNITS PRICE CHANGE % CHANGE CONTRACT

CRUDE OIL (WTI) USD/BBL. 100.59 +0.29 +0.29% MAR 14

CRUDE OIL (BRENT) USD/BBL. 109.27 +0.19 +0.17% APR 14

RBOB GASOLINE USD/GAL. 281.01 +0.48 +0.17% MAR 14

NYMEX NATURAL GAS USD/MMBTU 5.40 +0.19 +3.62% MAR 14

NYMEX HEATING OIL USD/GAL. 308.22 +0.40 +0.13% MAR 14

COMMODITY UNITS PRICE CHANGE % CHANGE CONTRACT

COMEX GOLD USD/T OZ. 1,329.60 +11.00 +0.83% APR 14

GOLD SPOT USD/T OZ. 1,329.89 +11.23 +0.85% N/A

COMEX SILVER USD/T OZ. 21.95 +0.52 +2.45% MAR 14

COMEX COPPER USD/LB. 328.45 +2.00 +0.61% MAR 14

PLATINUM SPOT USD/T OZ. 1,431.56 +3.81 +0.27% N/A

INTERNATIONAL MARKETS

ENERGY COMMODITY FUTURES

PRECIOUS AND INDUSTRY METALS

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17th FEBRUARY

COMMODITY EXPIRY SUP.3 SUP.2 SUP.1 PIVOT RES.1

ALUMINIUM 28-FEB 104.38 105.12 105.53 106.27 106.68

COPPER 28-FEB 441.78 443.27 444.53 446.02 447.28

CRUDEOIL 19-MAR 6102 6139 6180 6217 6258

GOLD 5-APR 29067 29148 29262 29343 29457

LEAD 28-FEB 130.13 130.77 131.23 131.87 132.33

NATURALGAS 25-FEB 304.57 312.33 318.37 326.13 332.17

NICKEL 28-FEB 870.6 875.1 877.9 882.4 885.2

SILVER 5-MAR 43784 44392 45502 46110 47220

ZINC 28-FEB 125.08 125.67 126.08 126.67 127.08

INTRADAY SUPPORT AND RESISTANCE

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17th FEBRUARY

MOST ACTIVE CONTRACTS

Symbol Expiry Date LTP Value (In Lacs) Volume (In Lots)

NATURAL GAS 25-02-2014 326.20 4,24,02,085.60 1,29,988

SILVERMICRO 28-02-2014 46283.00 4,82,52,34,165.00 1,04,255

SILVER M 28-02-2014 46295.00 2,30,40,55,855.00 49,769

CRUDE OIL 19-02-2014 6191.00 29,73,97,067.00 48,037

SILVER 05-03-2014 46270.00 1,30,09,73,590.00 28,117

LEADMINI 28-02-2014 131.80 22,00,005.60 16,692

COPPER 28-02-2014 445.95 72,90,390.60 16,348

COPPERMINI 28-02-2014 446.00 59,67,034.00 13,379

NICKEL 28-02-2014 881.40 1,13,90,332.20 12,923

NICKELMINI 28-02-2014 881.70 1,07,18,826.90 12,157

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17th FEBRUARY

TODAY,S COMMODITY NEWS

COMMODITY HEADLINES

Gold and silver value surges for the third day

Gems and jewellery exports to rise

Gold hits 3-1/2 month high on favourable US data

Lead up 0.3% on spot demand, overseas cues

Copper up 0.19% on global cues, spot demand

India unlikely to benefit from metals' price fall

Palm oil imports fall to lowest in 5 months

Tea prices drop over poor grade

Refined oil imports rise on inverse duty structure

Oil prices down after lackluster US stockpiles

Crude oil futures down 0.18% on weak Asian cues

Oil prices down in Asian trade

Commodities, securities norms to converge

Rubber imports up by 41% in Apr-Jan

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17th FEBRUARY

SPECIAL NEWS

The Government on Friday raised the import tariff value on

gold to $421 from $404 per 10 grams and silver tariff value to

$663 per kg from $635, respectively, taking into account the

volatility in the global prices The tariff value on imported

brass scrap has reduced to $3913 per tonne from $3,959 per

tonne, while on poppy seeds it has been kept unchanged at

$3,195 per tonne.The tariff value of areca nuts has been raised

to $1,872 per tonne from $1,816 per tone

GDP rose by 0.3% in the euro area during the fourth quarter

of2013, compared with the previous quarter, according to

flash estimates publishedby Eurostat, the statistical office of

the European Union. In the third quarterof 2013, GDP grew

by 0.1% in the euro area. Compared with the same quarter

ofthe previous year, seasonally adjusted GDP rose by 0.5% in

the euro area, after-0.3% in the previous quarter. Over the

whole year 2013 3, GDP fell by 0.4%in the euro area.

The total rabi sown area, as per reports received from States,

during the week ending 14.2.2014 stands at 656.67 lakh hec-

tare as compared to 621.39 lakh hectare at this time last year,

up 5.70%. Total sown area under wheat, total pulses, total

coarse cereals and rapeseed & mustard are final for rabi sea-

COMMODITY BUZZ

The Gold prices for April expiry settled at $ 1318.6 per troy

ounce. This was the highest level for Gold since November

last year. The rally in COMEX Gold for the week ending 14

February 2014 was phenomenal. The prices galloped by

4.4% after US economic data enthused confidence in Gold

traders. The Commerce Department released a report on

Thursday showing an unexpected drop in U.S. retail sales in

the month of January.

Comex Copper prices settled at $ 3.262 per pound on 14

February 2014 from $ 3.236 per pound on 7 February 2014.

The buying sentiments of Copper got a setback during the

weekend after the news that China is expected to show

slower growth though the week still ended in green for the

commodity. The exports targets of China are getting slower

and expected to remain tugged at 7.5% in 2014.

Light Sweet Crude Oil for March 2014 delivery settled at $

100.3 per barrel on 14 February 2014, against $ 99.88 per

barrel a week before. Weak Dollar resulted in offsetting the

retail sales data thereby benefiting the prices of Light Sweet

Crude Oil on a marginal basis. The retail sales of US de-

clined after the auto sales showed a sharp decline. invento-

ries of Crude Oil increased by 3.3 million barrels.

COMMODITY BUZZ AND ECONOMIC EVENTS

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17th FEBRUARY

EPIC RESEARCH ANALYST SPEAKS

SILVER

Finally Silver has broke its upper range 45850 level and made high of 46700. Due to positive nots on COMEX silver we expect MCX

silver can move up to 47500, on the other side below 45850 level can take price to 45500-45200 level.

BUY SILVER ABOVE 46850 TGTS 47100/47450 SL 46600

SELL SILVER BELOW 46500 TGTS 46250/45900 SL 46800

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17th FEBRUARY

EPIC RESEARCH ANALYST SPEAKS

GOLD

Gold prices moved higher as poor US Retail sales and Unemployment data raised safe haven appeal for gold and weaker dollar also

helped Gold prices to move higher. We expect Gold prices may move more higher for the coming day's as poor US data and ETF

buying could keep the prices in range to higher.

BUY GOLD(APR) ABOVE 29450 TGTS 29530/29630 SL 29350

SELL GOLD(APR) BELOW 29250 TGTS 29170/29070 SL 29350

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17th FEBRUARY

EPIC RESEARCH ANALYST SPEAKS

CASTORSEED

Castorseed Mar looking sideways to bearish in daily chart. Momentum indicators also support bearishness,

recommending sell on high. In Intraday basis having some bullishness but allover castorseed is in downside

nearest support @ 4250 & nearest resistance @ 4310.

BUY DHANIYA APR ABOVE 9430 TGT 9460,9510 SL 9380

SELL DHANIYA APR BELOW 9250 TGT 9220,9170 SL 9290

RESISTANCE 1 4298.70

RESISTANCE 2 4330