DAILY MCX NEWSLETTER 19-SEP.

-2013

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BULLION
Gold prices in the global market, edged lower and continued its bearish rally which started last week and was seen trading near five week low as traders were seen awaiting to know whether US Central Bank start tapering its monetary stimulus later this year. Gold futures on India's Multi Commodity Exchange (MCX) was seen trading slightly positive and may record a decline during intraday trade tracking a bearish trend in the global market. The Federal Open Market Committee (FOMC) is scheduled to start a two day meet on Tuesday and is expected that the US Central Bank start curbing its $85 billion monthly bond purchasing program. Equities and bonds recorded an up-tick on Monday and the US dollar witnessed a fall.

BASE METAL
MCX copper, nickel and lead futures continued their downward movement on Tuesday and was seen trading bearish amid weak international cues and appreciation of Indian Rupee (INR) against US Dollar (USD). The trend in copper futures for November delivery on India's Multi Commodity Exchange (MCX) looks bearish for the day and intra-day traders are advised to stay on sell side. MCX lead for September delivery looks bearish and is expected to continue with the trend.

ENERGY
Crude oil prices may climb further this week as US Federal Reserve said it will maintain its monthly bond purchases at $85 bn levels. WTI crude rose to $108.72 per barrel while ICE Brent Crude rose to $11.06 per barrel. WTI crude oil witness the biggest increase since August 27 on Wednesday by climbing 2.5% to $108.07 per barrel. Brent for November settlement rose as much as 50 cents, or 0.5 percent, to $111.10 a barrel on the London-based ICE Futures Europe exchange. The European benchmark crude was at a premium of $3.10 to WTI for the same month. The spread shrank for a third day yesterday to $3.32, the narrowest since Aug. 19, Bloomberg reported.

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BULLION
GOLD (5 OCT.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : -CONSOLIDATE : - 30270, 30500 : - 29620, 29270 : - BUY ON DIPS

SILVER (5 DEC.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 50400, 50950 : - 49250, 48490 : - BUY ON DIPS HIGH

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ENERGY

CRUDEOIL (21 OCT.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 6880, 6950 : - 6760, 6700 : - BUY ON DIPS

NATURAL GAS (25 SEP.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 240.50, 244.00 : - 232.50, 228.00 : - BUY ON DIPS

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BASE METAL
COPPER (29 NOV.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : -470.00, 474.00 : - 464.00, 458.00 : - BUY ON DIPS

LEAD (30 SEP.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 132.50, 133.60 : - 131.40, 130.50 : - BUY ON DIPS

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ZINC (30 SEP.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 118.60, 119.50 : - 116.90, 116.00 : - BUY ON DIPS

ALUMINUM (30 SEP.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 112.20, 113.70 : - 110.00, 109.00 : - BUY ON DIPS

NICKEL (30 SEP.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 895.00, 910.00 : - 880.00, 868.00 : - BUY ON DIPS

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GOLD SILVER COPPER CRUDE OIL NATURAL GAS PALLADIUM PLATINUM

1360.00 23.021 03.328 107.64 03.718 720.40 1467.00

USDINR EURUSD USDJPY USDCHF GBPUSD USDCAD

63.3800 01.3526 98.1700 00.9127 01.6142 01.0222

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