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Intraday Buy Gold Holding Sell Gold 30800 to 31100

Recommendations

Intraday Strategy: 
Buy MCX Apr Gold between 30450 to 30500 label, SL – below 30400, Target – 30750 , 30800
 

Holding Strategy:
Sell MCX Apr Gold between 30800 to 30850 label few lots Sell again few lots if rally 31100 label, SL – Above 31560,
Target – 30350, 30000, 29600, 29500, 29300


Morning Technical Levels for Metals and Energy 14 March 2014

Commodity     Exchange    Contract    Trend        S2           S1           LTP            R1             R2

Bullions
Gold               MCX               Apr            Up           30200       30400      30549       30750       30850
Spot Gold                                                 Up           1355         1364        1371         1378          1382
GoldHedge     NCDEX          Mar            Up          26660       26830      26968        27100        27190
Silver              MCX              May            Up         46100        46400      46734        47000       47300
Spot Silver                                                Up          20.90        21.10       21.19         21.30         21.50
SilverHedge     NCDEX         Apr            Up          4170         4200        4233          4250          4280


Base Metals
LME Copper                                            Down       6290        6340        6400         6450           6510
Copper             MCX              Apr           Down         393         396         399.60       403             407
Zinc                 MCX              Mar           Down        119.00     120.00     121.25     122.20        123.00
Lead                MCX              Mar           Down         121.50     122.50     123.45     124.50       125.50
Aluminium      MCX              Mar          Down         103.00     104.00     104.95     106.00       107.00
Nickel             MCX              Mar           Up              952          960          969.80     977             985
Energy
Crude Oil       MCX               Mar           Down         5920        5970        6021        6060         6110
Crude Oil       NYMEX         Apr            Down         96.50       97.30       98.16       98.90       99.80
Brent Crude Oil MCX           Apr            Down         6490        6540       6600        6630         6670
Brent Crude Oil NYMEX      Apr           Down         105.70     106.50     107.40     108.00    108.60
Natural Gas     MCX             Mar           Down          262           265         268.9        272         277

International Commodities DATA
Friday| March 14, 2014
Important Events for Today
Indicator                                         Country Time (IST)    Actual        Forecast     Previous     Impact
Monetary Policy Meeting Minutes  Japan     5:20am             -                     -                 -         Medium
Trade Balance                                   UK       3:00pm             -              -8.7B         -7.7B         Medium
PPI m/m                                            US        6:00pm             -               0.2%          0.2%        High
Core PPI m/m                                   US        6:00pm             -                0.2%         0.2%        Medium
Prelim UoM Consumer Sentiment   US        7:25pm             -                81.9           81.2         High

Outlook    Gold and silver
Gold and silver prices are expected to trade on a positive note today on the back of rise in safe haven demand due to
geopolitical tensions between Ukraine and Russia. Further, upbeat market sentiments coupled with strength in the
DX on account of positive data set released from US will act as a positive factor. However, sharp upside in the
prices will be capped as physical demand in Asian regions has slowed down. In the Indian markets, depreciation
in the Rupee will support sharp gains in the prices.

Outlook Crude
From an intraday perspective, crude prices will trade lower as the data set released from China yesterday showed
that economy slowed markedly in the first two months of the year, with growth in investment, retail sales and
factory output all falling to multi-year lows. Besides, China's implied oil demand fell 3.1 percent
in the same time frame from a year ago, as the economy of the world's second largest oil consumer slowed sharply.
In the Indian markets, prices will trade positive taking cues from international markets
and the rupee weakness in today’s trading session.

Outlook Copper
We expect base metals prices to trade on a negative note today on the back of concerns of economic growth in Chinese economy.
Further, weak market sentiments due to geopolitical tensions between Ukraine and Russia coupled with strength
in the DX will exert downside pressure on the prices.
However, estimates of positive consumer sentiments data from the US in the evening session will restrict sharp downside in the prices.
In the Indian markets, depreciation in the Rupee will cushion downside movement in the prices.