Profitable Mcx Weekly updates by the Equicom 17-Feb
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Microsoft Word - DAILY MCX NEWSLETTER
17 - FEB.-2014
DAILY MCX NEWSLETTER
Gold and Silver miners- short covering leading the way to higher prices
Ultimately, for those in control of prices, it's about short term profits. If one maintains ultimate
control over one market, then a loss someplace else can be made up easily.
Its shareholders share prices, quarterly bonuses that matter most. The long term matters less
because across the board because there is no skin in the game (except for the taxpayer, though
even that is diminishing to a certain degree).
Big banks are celebrated; the CEOs have become darlings wearing presidential cufflinks in a
media show. One analyst after another paraded out, becoming background for an investing public
addicted to the noise.
MCX Natural Gas price has strong support at 312/321 level while strong resistance is at 333/338 level.
Expect selling pressure near 335-337 zone and any rally towards the same would be a selling
Crude oil futures were trading slightly lower which reflected traders expectations of declining
crude demand as refineries in the West reduced capacity for maintenance.
BASE METAL: Chinas unwrought copper imports were strong in January.
In fact, value of Chinas total exports jumped by 10.6% in January compared to the same period last
year, even as the value of imports climbed by 10% as the nation that has for a long time focused on
investment growth bought humongous volumes of iron ore, copper and crude oil. This, in effect
meant Chinas import growth beat predictions by a huge margin way away from 3% predicted.
Chinas imports of iron ore, refined copper, crude oil and even soybeans, the rate of growth jumped
by 18% y/y, 53%, 12% and 24% respectively.
Working Expenses have been proposed at Rs. 1,10,649 crore, which is Rs. 13,589 crore higher than
the Revised Estimates for the current year.
GOLD (5 MAR.)
SILVER (5 MAR.)
TREND : - CONSOLIDATE RESISTANCE : - 46800, 47000 SUPPORT : - 46200, 45900 STRATEGY : - BUY ON DIPS
TREND : - CONSOLIDATE RESISTANCE : - 29430, 29600 SUPPORT : - 29230, 29000 STRATEGY : - BUY ON DIPS
CRUDEOIL (19 FEB.)
NATURAL GAS (25 FEB.)
TREND : - CONSOLIDATE RESISTANCE : - 330.00, 335.00 SUPPORT : - 315.00, 310.00 STRATEGY : - SELL ON HIGH
TREND : - CONSOLIDATE RESISTANCE : - 6260, 6320 SUPPORT : - 6150, 6100 STRATEGY : - BUY ON DIPS
COPPER (28 FEB.)
LEAD (28 FEB.)
TREND : - CONSOLIDATE RESISTANCE : - 132.50, 133.50 SUPPORT : - 130.50, 129.50 STRATEGY : - SELL ON HIGH
TREND : - CONSOLIDATE RESISTANCE : - 447.30, 450.00 SUPPORT : - 444.00, 440.00 STRATEGY : - SELL ON HIGH
ZINC (28 FEB.)
ALUMINUM (28 FEB.)
NICKEL (28 FEB.)
TREND : - CONSOLIDATE RESISTANCE : - 895.00, 910.00 SUPPORT : - 870.00, 850.00 STRATEGY : - SELL ON HIGH
TREND : - CONSOLIDATE RESISTANCE : - 106.80, 107.50 SUPPORT : - 105.00, 104.00 STRATEGY : - SELL ON HIGH
TREND : - CONSOLIDATE RESISTANCE : - 127.00, 128.00 SUPPORT : - 125.50, 124.50 STRATEGY : - SELL ON HIGH
GOLD 1305.49 SILVER 20.730 COPPER 3.250 CRUDEOIL 100.28 PALLANDIUM 730.80
USDINR 62.3900 EURUSD 01.3678 USDJPY 101.757 USDCHF 00.8923 GBPUSD 01.6652
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