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ENERGY COMPLEX
BASEMETAL COMPLEX
LOW
22430
CLOSE
22820
% CNG
-0.86
VOLUME
46542
OI
13896
RE CNG
-194
INTRADAY LEVELS
Gold trimmed losses on Monday, significantly from its earlier plunge as optimism over the death of Al
P.P. 22630
Qaeda leader Osama bin Laden appeared to be short-lived. Earlier dollar was boosted by the
perception that that Bin Laden's death could make the U.S. less subject to further terrorist. SUP 1 RES 1
Furthermore, the death of bin Laden will do nothing to curb accelerating global inflation or provide a 22426 22831
solution to the euro zone’s ongoing sovereign debt crisis. Dollar weakness has been fueling the rally SUP 2 RES 2
in gold as economic uncertainties and speculation of more monetary easing by the Fed. Now gold is
22225 23035
getting support at 22426 and below could see a test of 22225 level, and resistance is now likely to
be seen at 22831, a move above could see prices testing 23035. SUP 3 RES 3
22021 23236
OPEN
71100
MCX SILVER FUTURE
HIGH
71100
LOW
65702
CLOSE
71350
% CNG
-4.05
VOLUME
139991
OI
13869
RE CNG
-2775
INTRADAY LEVELS
Silver recovered significantly and trimmed losses, while from its earlier plunge as optimism over the
death of Osama bin Laden appeared to be short-lived. Silver prices tumbled, marking their biggest P.P. 68459
loss since late 2008 dropping by 7.91 percent to 65702 and later recovered and settled at -4.05 that SUP 1 RES 1
is at 68575, and in international Silver dropped as much as 13% to a ten-day low of $42.23 after
65818 71216
CME Group, operator of Comex raised the amount of cash that traders must deposit for speculative
positions. Dollar weakness has been fueling the rally in bullion as economic uncertainties and SUP 2 RES 2
speculation of more monetary easing by Fed. Now silver is getting support at 65818 and below could 63061 73857
see a test of 63061 level, And resistance is now likely to be seen at 71216, a move above could see SUP 3 RES 3
prices testing 73857.
60420 76614
5097
LOW
4933
CLOSE
5055
% CNG
0.16
VOLUME
151204
OI
18340
RE CNG
8
INTRADAY LEVELS
Crude oil turned higher as optimism over news of Al Qaeda leader Osama bin Laden’s death
appeared to be short-lived and as the U.S. dollar resumed its decline. Dollar was boosted by the P.P. 5028
perception that that bin Laden's death could make the U.S. less subject to further terrorist attacks, SUP 1 RES 1
but some analysts remained skeptical of whether it would reduce the security risks facing the U.S.
4960 5124
NATO air strikes over the weekend killed Gaddafi’s youngest son and three of his grandchildren. Anti-
government protests escalated in Syria, while violence continued in Yemen in an attempt to maintain SUP 2 RES 2
pressure on President Ali Abdullah Saleh. Now crude is getting support at 4960 and below could see 4864 5192
a test of 4864 level, And resistance is now likely to be seen at 5124, a move above could see prices SUP 3 RES 3
testing 5192.
4796 5288
OPEN
415.9
MCX COPPER FUTURE
HIGH
417.8
LOW
407.65
CLOSE
415.9
% CNG
0.26
VOLUME
83096
OI
25502
RE CNG
1.1
INTRADAY LEVELS
Copper yesterday traded with the positive node and settled 0.26% up at 417 as yesterday shangain P.P. 414.2
and LME was closed on account of May 1st, China announced its manufacturing PMI was 52.9% in SUP 1 RES 1
April, down from March's 53.4%, well below market expectations of 54.0%, a sign of slowing growth
410.5 420.7
in China's manufacturing industry. Later, the US announced its ISM manufacturing data was 60.4%
in April, higher than market expectations of 60.1%, helping the US dollar index rally. For today's SUP 2 RES 2
session market is looking to take support at 410.5, a break below could see a test of 404 and where 404.0 424.3
as resistance is now likely to be seen at 420.7, a move above could see prices testing 424.3. SUP 3 RES 3
400.4 430.8
LOW
99.25
CLOSE
101.2
% CNG
0
VOLUME
8671
OI
11431
RE CNG
0
INTRADAY LEVELS
Zinc yesterday traded with the range bound and settled at 101.2. The overall transactions were
quiet on account of the Labor Day holiday in Shanghai and LME. Last Friday, SHFE three-month zinc P.P. 100.6
contract prices opened lower at RMB 17,400/mt, and mostly moved between RMB 17,250 - SUP 1 RES 1
17,350/mt during the day. Investors left the market ahead of the Labor Day holiday, resulting in
99.8 102.0
quiet transactions. SHFE zinc prices fell to RMB 17,250-17,350/mt, and spot transactions were also
muted. Downstream buyers were cautious at fluctuating zinc prices.In yesterday's trading session SUP 2 RES 2
zinc has touched the low of 99.25 after opening at 100.9, and finally settled at 101.2. For today's 98.4 102.8
session market is looking to take support at 99.8, a break below could see a test of 98.4 and where SUP 3 RES 3
as resistance is now likely to be seen at 102, a move above could see prices testing 102.8.
97.6 104.2
OPEN
1196
MCX NICKEL FUTURE
HIGH
1196
LOW
1170
CLOSE
1202.4
% CNG
-0.79
VOLUME
19610
OI
5639
RE CNG
-9.4
INTRADAY LEVELS
Nickel yesterday traded with the negative node and settled -0.79% down at 1193 LME was closed for
2 session that is on Friday and Monday on account for Royal weeding on Friday and Labour day on P.P. 1186
Monday. LME nickel for delivery in three months opened at USD 26,800/mt and closed at USD SUP 1 RES 1
26,845/mt last Thursday, up by USD 85/mt from a day earlier, with the highest price at USD
1177 1203
27,000/mt and the lowest price at USD 26,400/mt. Trading sentiment turned quiet, and traders'
willingness to move goods was not high with the approach of National Day holiday. Supply of nickel SUP 2 RES 2
from Russia was reduced to certain extent, with relatively firm prices reported. For today's session 1160 1213
market is looking to take support at 1176.7, a break below could see a test of 1160.3 and where as SUP 3 RES 3
resistance is now likely to be seen at 1202.8, a move above could see prices testing 1212.5.
1151 1229
INTRADAY LEVELS
Aluminium yesterday traded with the negative node and settled -0.53% down at 121.9. On May 2nd,
ISM announced the index of the manufacturing sector was 60.4% during April, higher than the
P.P. 121.8
expected 59.5%. The US dollar index opened at 73.01 and closed at 73.15 after hitting a low of
72.72, up 0.17%. The US President Obama said Bin Laden was killed in a firefight during a “targeted SUP 1 RES 1
operation” that Mr. Obama ordered in Pakistan, and market players expected that the stabilized 121.4 122.3
situation in Middle East will increase crude oil supply, and crude oil for June delivery slipped 41 cents SUP 2 RES 2
to settle at USD 113.52/bbl on NYMEX as a result. LME market was closed on Monday for a holiday.
121.0 122.7
For today's session market is looking to take support at 121.4, a break below could see a test of 121
and where as resistance is now likely to be seen at 122.3, a move above could see prices testing SUP 3 RES 3
122.7. 120.6 123.1
OPEN
MCX NAT.GAS FUTURE
207.9
HIGH
210.7
LOW
206.5
CLOSE
208.3
% CNG
-0.05
VOLUME
25815
OI
5701
RE CNG
-0.1
INTRADAY LEVELS
Natural gas yesterday traded with the negative node and settled -0.05% down at 208.2 but overall
trading firm jumping to a 14-week high amid speculation warmer-than-normal weather and declining P.P. 208.5
production would widen a stockpile deficit. The U.S. EIA said last Thursday that total U.S. natural SUP 1 RES 1
gas storage in the week ended April 22 stood at 1.685 trillion cubic feet, 0.6% below the five-year
206.2 210.4
average. Inventories fell below the five-year average for the first time since the week ended Feb 25.
Stockpiles were 11% below 2010 levels, the widest year-on-year deficit since early August 2008. For SUP 2 RES 2
today's session market is looking to take support at 206.2, a break below could see a test of 204.3 204.3 212.7
and where as resistance is now likely to be seen at 210.4, a move above could see prices testing SUP 3 RES 3
212.7.
202.0 214.6
ended at 52, we have seen yesterday that the crude ended at 5.35, we have seen yesterday that the copper
market had traded with a positive node and settled 0.16% market had traded with a positive node and settled
up. Spread yesterday traded in the range of 21 - 55. 0.26% up. Spread yesterday traded in the range of 1.7 -
5.35.
Spread between zinc MAY & JUN contracts yesterday Spread between nickel MAY & JUN contracts yesterday
ended at 1.35, we have seen yesterday that the zinc ended at 9.80, we have seen yesterday that the nickel
market had traded with a range bound node and settled market had traded with a negative node and settled -
0% flat. Spread yesterday traded in the range of 0.9 - 0.79% down. Spread yesterday traded in the range of
1.35. 9.10 - 10.6.
Spread between natural gas MAY & JUN contracts Spread between menthol oil MAY & JUN contracts
yesterday ended at 5.00, we have seen yesterday that the yesterday ended at -91.70, we have seen yesterday that
natural gas market had traded with a negative node and the menthol oil market had traded with a positive node
settled -0.05% down. Spread yesterday traded in the and settled 0.8% up. Spread yesterday traded in the
range of 4.6 - 5.2. range of -91.7 to -84.5.
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
Tue 0 0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
India’s pulses imports in the crop year 2010-11 (July-June) are likely to fall 14.28 per cent to 3 million tonnes
compared to 3.5 million tonnes shipped in the year-ago period. Higher production in the country will lead to low
imports, traders and importers said. In its third advanced crop estimate earlier this month, the ministry of agriculture
said pulses production in 2010-11 could be 17.3 million tonnes, the highest ever. It pegged tur production at 3.2
million tonnes, urad at 1.8 million tonnes and moong at 1.4 million tonnes. Trade sources and experts put India’s
annual pulses demand at 19 million tonnes, out of which nearly 3-4 million tonnes is imported. The country is the
biggest importer and consumer of pulses. India imports yellow peas mainly from Canada, Ukraine and the US. Yellow
peas demand grew in 2009-10 when consumers started using it as a cheaper substitute to tur dal, which was then
priced at Rs 70 a kg. Even though tur dal rates have nearly halved in past couple of months because of arrival
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pressure and better production, yellow split peas are still quoting cheaper, at about Rs 15-18 a kg across the country.
Global natural rubber production for 2011 may come in at 10.025 million tonne, lower than an earlier forecast of
10.060 million tonne due to output revisions in member countries, the ANRPC said. Despite the revision, the global
output for the commodity mainly used in tyre was still higher than 9.473 million tonne in 2010, according to the
Association of Natural Rubber Producing Countries (ANRPC). The ANRPC's total supply would rise this year by 5.8%,
slightly slower than the previously-expected 6.2% rate, the group said in a report. The revision results from down-
scaling of Thailand's figure and China; and slightly improved outlook expected for Indonesia and India. Output in
Thailand, the world's main rubber producer, was revised down to 3.375 million tonne in 2011 from an earlier forecast
of 3.430 million tonne, still higher than 3.252 million tonne in 2010. Second-largest producer Indonesia's output
forecast was raised to 2.972 million tonne from a prior estimate of 2.955 million tonne. Last year, Indonesia
produced 2.736 million tonne.
The Reserve Bank of India, battling surging price pressures, is widely expected to lift key interest rates by 25 basis
points when announcing its annual monetary policy on May 3, even as some economists call for a 50 basis point rise.
A quarter-point rise would take the repo rate, at which it lends to banks, to 7 percent and the reverse repo rate, at
which banks park funds with it to 6 percent, and would be the ninth increase in rates by the Reserve Bank of India
since March 2010. Following a March headline inflation reading of nearly 9 percent, analysts now expect the RBI to
raise rates a total of 75 basis points for the rest of 2011, or 25 basis points more than they anticipated in mid-March.
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