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17 - FEB.-2014

DAILY MCX NEWSLETTER

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BULLION:

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.

ENERGY:

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

opportunity.

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.

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GOLD (5 MAR.)

SILVER (5 MAR.)

BULLION

OUTLOOK:

TREND : - CONSOLIDATE RESISTANCE : - 46800, 47000 SUPPORT : - 46200, 45900 STRATEGY : - BUY ON DIPS

OUTLOOK:

TREND : - CONSOLIDATE RESISTANCE : - 29430, 29600 SUPPORT : - 29230, 29000 STRATEGY : - BUY ON DIPS

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CRUDEOIL (19 FEB.)

NATURAL GAS (25 FEB.)

ENERGY

OUTLOOK:

TREND : - CONSOLIDATE RESISTANCE : - 330.00, 335.00 SUPPORT : - 315.00, 310.00 STRATEGY : - SELL ON HIGH

OUTLOOK:

TREND : - CONSOLIDATE RESISTANCE : - 6260, 6320 SUPPORT : - 6150, 6100 STRATEGY : - BUY ON DIPS

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COPPER (28 FEB.)

LEAD (28 FEB.)

BASE METAL

OUTLOOK:

TREND : - CONSOLIDATE RESISTANCE : - 132.50, 133.50 SUPPORT : - 130.50, 129.50 STRATEGY : - SELL ON HIGH

OUTLOOK:

TREND : - CONSOLIDATE RESISTANCE : - 447.30, 450.00 SUPPORT : - 444.00, 440.00 STRATEGY : - SELL ON HIGH

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ZINC (28 FEB.)

ALUMINUM (28 FEB.)

NICKEL (28 FEB.)

OUTLOOK:

TREND : - CONSOLIDATE RESISTANCE : - 895.00, 910.00 SUPPORT : - 870.00, 850.00 STRATEGY : - SELL ON HIGH

OUTLOOK:

TREND : - CONSOLIDATE RESISTANCE : - 106.80, 107.50 SUPPORT : - 105.00, 104.00 STRATEGY : - SELL ON HIGH

OUTLOOK:

TREND : - CONSOLIDATE RESISTANCE : - 127.00, 128.00 SUPPORT : - 125.50, 124.50 STRATEGY : - SELL ON HIGH

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GOLD 1305.49 SILVER 20.730 COPPER 3.250 CRUDEOIL 100.28 PALLANDIUM 730.80

PLATINUM 1411.40

USDINR 62.3900 EURUSD 01.3678 USDJPY 101.757 USDCHF 00.8923 GBPUSD 01.6652

USDCAD 01.0952

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