Documentos de Académico
Documentos de Profesional
Documentos de Cultura
Weekly Tracker
Contents
Returns Non Agri Commodities Currencies Agri Commodities
0.6
3.6
2.8
0.5
0.4
0.2
(0.2)
ETF Performance
Outlook
In the coming week, we expect gold prices to trade on a positive note as a result of upbeat global market sentiments coupled with weakness in the DX. Further, expectations of favorable economic data from major global economies will support an upside in the prices. Additionally, decline in US unemployment rate in last week will act as a positive factor for the prices. Appreciation in the Indian Rupee will cap gains in the prices on the MCX. Spot Gold : Support 1,465/1,440 Resistance 1,492/1514. (CMP: $1477.20) Buy MCX Gold June between 26,820-26,780, SL-26,600, Target- 27,400.(CMP: Rs.27,089)
84.0
83.5 83.0 82.5 82.0 81.5 81.0
80.5
80.0 79.5 79.0
US Dollar Index
Silver
56,000
54,000 52,000 50,000 48,000 46,000 44,000
30
28 26 24
ETF Performance
42,000
22
Outlook
26.0
24.0
22.0
Buy MCX Silver July between 45,000-44,900, SL-44,100, Target -46,400. (CMP:45,371)
Copper
Weekly Price Performance
Copper prices increased by 3.6 percent in the previous week. The red metal touched a weekly high of $7306.5/tonne and closed at $7290/tonne in the last trading session of the week. On the domestic front, prices ended on positive note by 3.4 percent and closed at Rs. 395.30/kg on Friday after touching a high of Rs. 395.9/kg in the last week. Appreciation in the Indian Rupee capped sharp gains in the prices on the MCX. LME copper inventories declined around 1.76 percent in the last week and stood at 608,700 tonnes as on 3rd May, 2013 as against 619,600 tonnes as on 26th April, 2013 . Copper inventories in the warehouse monitored by the Shanghai fell by 1.6 percent and stood at 213,782 tonnes for the week ending on 3rd May, 2013. Rise in risk appetite in the global market sentiments coupled with weakness in the DX. Further, favorable unemployment rate and consumer sentiment data from US supported an upside in the prices. Additionally, decline in LME and Shanghai copper inventories acted as a positive factor for the prices. Copper prices are expected to trade on a positive note on the back of optimistic global markets coupled with weakness in the DX. Additionally, decline in LME and Shanghai inventories along with expectations of favorable economic data from the major global economies will support an upside in the prices. Appreciation in the Indian Rupee will cap gains in the prices on the MCX. LME Copper: Support 7125/6944 Resistance 7471/7652. (CMP: $7290) Buy MCX Copper June between 387-385, SL-380, Target -405. (CMP:397.30)
LME and MCX Copper Price Performance
8,400 8,200 8,000 7,800 7,600 455 445 435 425 415 405 395 385 375 365
Copper Inventories
7,400
7,200 7,000 6,800
Outlook
Crude Oil
5,000
4,900 4,800 4,700 90.0 88.0 86.0
388.6 384
381.4
388.9 387.6
388.6
Outlook
385.9 382.7
$/INR - Spot
56.0 55.5 55.0 54.5
54.0
53.5 53.0
Euro
Euro/$ - Spot
News
EURO/INR - Spot
73.0
72.5 72.0 71.5 71.0
70.5
70.0 69.5 69.0
Outlook
Chana
Chana prices declined for the second consecutive week on account of increasing arrivals & subdued demand at higher levels. Chana spot as well as May futures settled 3.14% & 3.48% lower w-o-w. Higher prices since the beginning of the month has led to a significant increase in arrivals last week which dragged prices lower. According to the third advance estimates released last week, Chana output is pegged marginally lower to 8.49 mn tn compared with its second advance estimates of 8.57 million tonnes. Chana output is expected to breach its 2010-11 record of 8.2 mn tn in 2012-13.
Outlook
Weekly Strategy
Turmeric
Outlook
Weekly Strategy
Jeera
International Scenario
Outlook
Weekly Levels
Soybean
Outlook
Strategy
Buy NCDEX Soybean June between 3820-3860, SL -3680, Target - 4070 / 4100.
Global Scenario
Domestic Scenario
Strategy
Sugar
Weekly Price Performance
Sugar prices settled marginally lower by 0.1% last week as higher supplies is seen offsetting the summer demand. ICE sugar is currently trading at its lowest levels since June 2010 and settled 0.7% lower on account of global sugar surplus situation for third consecutive year.
Outlook
Strategy
Kapas/Cotton
Weekly Price Performance
Cotton futures recovered last week and settled 1.3% higher on account of short coverings. Lower levels buying also supported an upside in the prices. ICE Cotton futures gained 3% last week on strong export sales data and U.S. plantings delays which prompted worry over upcoming supplies. US export sales for the week ending April 25 reached 314,400 running bales, up 32% from previous week and most since mid-January. Cotton Corporation & NAFED are expected to offload 8 lakh bales at lower prices. After an unsuccessful bid to offload of 2.5 lakh bales of cotton in April, the government has now decided to give it a fresh chance. CAB in its latest meet has projected cotton crop at 34 mn bales for 2012-13 season compared to the previous estimates of 33 mn bales. Mill consumption is expected to go up from 22.3 million bales last year to 23.5 million bales. Exports are estimated at 8.1 mn bales. While Import are estimated 2.5 mn bales.
China will start to sell its high-quality reserves of fibre, which should spur purchases by textile mills after Beijing's stockpiling tightened domestic supplies. Starting on Friday, 19th April, govt has offered cotton imported in 2011 and purchased from the 2012 harvest and has allowed textile mills to buy up to 8 months' worth of consumption. Beijing has said it would offer a total of 4.5 million tonnes for the auctions to last until end of July. With CCI and NAFED offloading more stocks in the local markets, Cotton may remain under downside pressure in the current week. However, if international markets recover sharply, then we may see prices taking a rebound from lower levels.
Sell MCX Cotton May between 18500-18600, SL -18950, Target - 17970 / 17890.
Outlook
Strategy
Thank You!
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