MCX COMMODITY WEEKLY REPORT

EPIC Research Report

This Report contains all the study and strategy required by trader to trade on MCX commodities. Refer to the chart attracted in the Report to take proper Trading Decision.
Research Analyst: Prateek Gupta Date: 19-August-2013

MCX Daily Newsletter (19-August-2013)

WEEKLY COMMODITY WRAP..!!!!!

Base metals
LME base metals exhibited resilient impressive upside, as Macroeconomic developments from Europe and China Proved positive. Chinas industrial production and retail sales witnessed impressive growth during July. In Europe, the regions GDP was up by 0.3% in the second quarter, whereby the regions greatest recession has eventually ended. Q2 GDP rise is followed by six quarters of consecutive declines. Improvement in economic activity is attributed to strong growth of 0.7% in Germany and 0.5% rise in France. Portugal grew by a 1.1% and recessionary conditions in Italy and Spain have moderated. On supply front, production cutbacks in Aluminum sector has become rampant with Alcoa announcing that it will be temporarily cutting production at a smelter in Brazil, while permanently shutting down part of its operations in Massena, New York. In Chile, workers have initiated a strike at Escondida copper mine, demanding improved working conditions and a bonus. We remain friendly towards base metals during the course of next few weeks as improving economic landscape on both the sides of the Atlantic should provide encouragement to the bulls.

Precious metals
Precious metals have witnessed a strong spell of buying this Week, with gold prices trading above the crucial resistance of US$1,365/oz and silver prices well above US$23/oz. Weakness in The greenback has provided lot of cushion to the precious pack.

US dollar index is on the verge of scaling back below 81 levels. In Addition, speculation is rife that large funds categorically from the Middle East may have initiated out fresh long positions. Turbulent Situation in Egypt corroborates this perception.

On demand side, China consumed 706.36 tons of gold in the first six months of 2013, up by enormous 54% on yoy basis. Meanwhile, World Gold Council reported that global demand hit a four-year low in the second quarter, in spite of a jump in jewellery buying.

In India, prices remain elevated as the government has raised import duty on refined gold bars to 10%, up from 8% previously. Import duty on silver is hiked to 10%. This is the third duty increase in eight months.

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MCX Daily Newsletter (19-August-2013)

WEEKLY ECONOMIC CALENDAR

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MCX Daily Newsletter (19-August-2013)

MCX BULLIONS DAILY TECHNICAL LEVELS

GOLD MCX HOURLY CANDLESTICK CHART
TRADING STRATEGY: GOLD MCX has a bull run last week due to USD/INR and Import duty also has been increased. International markets are also in uptrend. Hence triple factors has taken GOLD MCX to higher levels. Keep A close watch on Currency Market movements. Immedaite Resistance @31185 and Support @30400 1. 2. Sell GOLD MCX below 30300 TGT 30100/29900 SL 30500 Buy GOLD MCX Above 31200 TGT 31300/31500 SL 31000

SILVER MCX HOURLY CANDLESTICK CHART

TRADING STRATEGY: SILVER MCX has also has strong bull Run last week due to USD/INR and Import duty also has been increased. International markets are also in uptrend. Hence triple factors has taken GOLD MCX to higher levels. Keep A close watch on Currency Market movements. Immedaite Resistance @52300 and Support @48350 1. 2. BUY SILVER MCX around 48350 TGT 48900/49500 SL 47900 SELL SILVER MCX Below 47900 TGT 47500/47000 SL 48200

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MCX Daily Newsletter (19-August-2013)

MCX BASE METALS DAILY TECHNICAL LEVELS

COPPER MCX HOURLY CANDLESTICK CHART
TRADING STRATEGY: COPPER is trading at all time highs in Indian Commodity markets. As Rupee V/s Dollar has reached 62.00 levels. Hence Taken whole base metal Pack to Higher levels. Any correction in Currency would lead to divergence of MCX commodities with International Markets Immediate Resistance @465 and Support @454 1. 2. Sell COPPER MCX Below 452 TGT 445/440 SL 459 Buy COPPER MCX Above 468 TGT 475/482 SL 460

MCX BASE METALS DAILY TECHNICAL LEVELS

CRUDEOIL MCX HOURLY CANDLESTICK CHART
TRADING STRATEGY: CRUDEOIL MCX is in strong up trend in both International and Indian Markets. Any correction will be buying opportunity till any signs of reversal is seen. CRUDEOIL all time highs are 147$ in international Markets and has potential to touch higher highs. Immediate Resistance @--------- And Support @6500 1. 2. Buy CRUDEOIL MCX above 6800 TGT 6850/6900 SL 6750 Sell CRUDEOIL MCX below 6520 TGT 6420/6320 SL 6620

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MCX Daily Newsletter (19-August-2013)

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