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Saturday, August 30, 2014

DAILY FOREX REPORT FROM RESEARCH VIA 01/SEP/2014

MARKET HEADLINES
  • Euro falls to near 21-month low vs Swiss franc
    The euro fell to its lowest in nearly 21 months against the Swiss franc on Thursday amid speculation that the European Central Bank will ease monetary policy in coming months, possibly by quantitative easing. The euro fell to 1.20595 francs on trading platform EBS, its lowest since early December 2012 and down 0.1 percent on the day. Before the latest speculation about the ECB, the Swiss franc had been rising due to safe-haven inflows amid renewed tensions between Russia and Ukraine. A sustained drop in the euro could test the Swiss National Bank's three-year old pledge to cap the franc at 1.20 per euro. "The likelihood of the ECB taking further measures is increasing, should long-term inflation expectations fall further," said Esther Reichelt, currency strategist at Commerzbank. "This is exerting downward pressure on euro/Swiss franc. So long as such speculation persists, it will be difficult for it to recover on a sustained basis."
  • Rupee volatility falls to 3-week low, but may soon spike
Rupee's one-month implied volatility fell to 6.137, lowest since August 5. But traders expect a surge in September. Key risk events include the Supreme Court ruling on coal blocks (September 1) and US employment data (September 5), say traders. September also marks the end of quarter, which typically leads to volatility as firms square books.

Friday, August 29, 2014

DAILY COMMODITY REPORT FROM RESEARCH VIA 29/AUG/2014

Precious Metals
 
DAILY BUZZ
GOLD
Gold futures closed lower in the domestic market on Wednesday as investors and speculators exited positions in the precious metal as a drop in bullion-backed holdings signaled weakening investment demand for the yellow metal. Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell to 795.60 tons on Wednesday from its previous close of 797.09 tons on Tuesday. However, a weaker dollar boosted the appeal of gold as an alternative asset, curbing losses in the precious metal. Weaker greenback makes the bullion cheaper for those holding other currencies, thus bolstering demand. However, caution ahead of US GDP data, jobless claims and pending home sales data which may influence the country’s monetary policy outlook weighed on sentiment. Gold futures may trade lower today amid caution ahead of key US data. Gold futures for October 2014 contract, at MCX, closed at Rs. 27,780 per 10 grams, down by 0.41 per cent, after opening at Rs. 27,863, against the previous closing price of Rs 27,895. It touched an intra-day low of Rs 27,765

Base Metals & Energy 

DAILY BUZZ
COPPER
Copper futures ended lower in the domestic market on Wednesday as investors and speculators exited positions in the industrial metal after consumer confidence in Germany fell for the first time in one and a half years in August 2014, signaling a faltering recovery in Europe’s biggest economy, darkening the demand outlook for industrial metals. The gauge measuring consumer confidence in Germany fell to 8.9 this month from 8.6 in July, the biggest drop since May 2011, GfK said. All eyes are on the European Central Bank (ECB) which will announce its policy decision next week amid speculation of fresh easing measures to boost the sagging 18-member economy. At the MCX, Copper futures for August 2014 contract closed at Rs. 422.85 per 1 kg, down by 0.73 per cent, after opening at Rs. 425, against the previous closing price of Rs. 425.95. It touched an intra-day low of Rs 421.75
CRUDE OIL
Crude oil futures were trading higher in the domestic market on Thursday as a dip in oil and gasoline stockpiles in the US signaled a pickup in fuel demand in the world’s biggest crude oil consumer. While crude stockpiles fell 2 million barrels last week, gasoline supplies declined 960,000 barrels to 212.3 million barrels, the EIA said. All eyes are on the Q2 US GDP data to be released today which is expected to confirm an annualized growth of 4 per cent after a surprise contraction in the previous quarter when bad weather played spoilsport. At the MCX, Crude Oil futures, for the September 2014 contract, is trading at Rs 5,685 per barrel, up by 0.18 per cent, after opening at Rs 5,686, against a previous close of Rs 5,675. It touched an intra-day high of Rs 5,693. (At 11:01 AM)
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Thursday, August 28, 2014

DAILY FOREX MARKET REPORT AND ANALYSIS 28/Aug/2014


MARKET HEADLINES

  • Rupee down 4 paise against the US dollar
    The rupee depreciated by four paise to 60.47 against the US currency in opening trade today at the Interbank Foreign Exchange market due to dollar's gains against other currencies overseas. Forex dealers said besides dollar's gains against other currencies on positive economic data, month-end demand for the American unit from importers put pressure on the rupee, but a higher opening in the domestic equity market capped the losses. Yesterday, the domestic currency had gained 13 paise to close at nearly four-week high of 60.43 against the American unit following fresh dollar selling by exporters and sustained investments by foreign funds. Meanwhile, the benchmark BSE Sensex spurted by 142.51 points, or 0.54 per cent, to 26,585.32 in early trade today.

Wednesday, August 27, 2014

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Tuesday, August 26, 2014

TODAY'S COMMODITY MCX REPORT FROM RESEARCH VIA

Precious Metals

DAILY BUZZ
GOLD
Gold futures fell in the domestic market on Monday as investors and speculators exited positions in the precious metal tracking a weak trend in the overseas market amid speculation that a faster than anticipated recovery in the US labour market may prompt the US Federal Reserve to raise interest rates sooner than currently expected, dimming the appeal of the bullion as a store of value. US Fed Chairman Janet Yellen said that the Fed could hike borrowing costs sooner than earlier expected if labour market progress continued at a rapid than anticipated rate. A stronger dollar also dimmed the appeal of the bullion as an alternative asset. Stronger greenback makes gold more expensive for those holding other currencies, thus dimming demand. Gold futures for October 2014 contract, at MCX, is trading at Rs. 27,770 per 10 grams, down by 0.15 per cent, after opening at Rs. 27,774, against the previous closing price of Rs 27,813. It touched an intra-day low of Rs 27,773.
Base Metals & Energy 
DAILY BUZZ
CRUDE OIL
Crude oil futures rose in the domestic market on Monday as the depreciation in the Indian rupee against the US dollar more than offset the losses in the energy commodity in the overseas market. A weaker rupee against the greenback exerts upward pressure on domestic crude oil prices. Crude futures fell in the overseas market amid speculation that the conflict in the Middle East won’t disrupt supplies as Libya’s oil output rose even as Islamic militants seized Tripoli’s international airport while supply from Iraq, the OPEC’s second biggest oil producer remained intact despite the country’s inability to form a new government. At the MCX, Crude Oil futures, for the September 2014 contract, is trading at Rs 5,686 per barrel, up by 0.12 per cent, after opening at Rs 5,690, against a previous close of Rs 5,679. It touched an intra-day high of Rs 5,695.
ZINC
Zinc prices fell by 0.28 per cent on Monday at the domestic markets after German business confidence deteriorated to the lowest level in more than a year in August, dampening optimism over the health of the euro zone’s largest economy which reduced the demand outlook for the metal. German research institute, Ifo said its Business Climate Index fell to a seasonally adjusted 106.3 this month, below forecasts for 107.0 and down from a reading of 108.0 in July. Zinc futures for August 2014 contract, at MCX, were trading at Rs 141.45 per kg, down by 0.28 per cent after opening at Rs. 142.20 against the previous closing price of Rs. 141.85. It touched the intra-day low of Rs. 141.20 till the trading.
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Monday, August 25, 2014

DERIVATIVE DAILY ANALYSIS 25/Aug/2014


India Indices- On Friday market Nifty Index opened 13.45 points up at 7904.55 in positive from the previous day closing 7891.10 and closed in positive at 7913.20. Nifty index opened positive but we saw selling in Nifty and near 12.30 o’clock Nifty traded with the day low of 7900.05 after noon again Nifty recovered and we saw hyper buying in Nifty and near the closing of the market Nifty Index traded with the life time high of 7929.05 and closed positive at 7913.20 with +0.28%, +22.10 points up. And the full day Nifty Index traded between 7929.05-7900.05. At the end of the day Nifty futures Gained +0.42%, +33.55 points up to close at 7936.70 from the previous day closing at 7903.15 with premium of 23.20 points and percent change in open interest of +2.50%.

Bank Nifty Bank Nifty index opened up at 15699.05 with +36.85 points up from the previous day closing at 15662.20 and closed positive at 15819.15. Bank Index opened up with the day low of 15696.30 and the Full market day we saw continuous buying, and near the closing of the market Bank Index traded with the day high of 15865.30 and closed in positive at 15819.15 with +1.00%, +156.95 points up, and the full day Bank Nifty Index traded between 15865.30-15696.30. At the end of the market day Bank Nifty futures Gained +1.12%, +176.15 points up to close at 15847.85 from the previous day closing at 15671.70 with the daily premium of +28.70 points and percent change in open interest of +8.05%.

Nifty Futures- Nifty futures opened at 7912.20 with +9.05 points up from the previous day closing at 7906.30. From the morning we saw normal selling in Nifty and near 12.30 o’clock Nifty traded with the day low of 7906.30 but after noon Nifty moved up with continuous buying and near the closing of the market Nifty traded with the life time high of 7939.80 and closed positive at7936.70. And the full day Nifty Futures traded between 7939.80-7906.30 At the end of the day Nifty futures Gained +0.42%, +33.55 points up to close at 7936.70 from the previous day closing at 7903.15 with premium of 23.20 points and percent change in open interest of +2.50%.

DAILY PIVOTS


INDEX
S2
S1
PP
R1
R2
NIFTY
7885
7899
7914
7928
7943
BANKNIFTY
15625
15722
15794
15891
15963
SENSEX
26312
26366
26437
26491
26562

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Saturday, August 23, 2014

DAILY FOREX REPORT FOR 25/Aug/2014


MARKET HEADLINES

  • Australia shares close higher for a 7th day, up 1.4% for week Australian shares edged 0.1 per cent higher on Friday, boosted by solid earnings from Santos Ltd which supported the energy sector, though gains were tempered as some stocks traded ex-dividend. Santos jumped 3.9 per cent to A$15.16, its highest since November 2013. The S&P/ASX 200 index added 6.7 points to 5,645.6 at the close of trade, and gained 1.4 per cent for the week, climbing for a second week. The benchmark posted its seventh consecutive session of gains, its longest such streak since mid-July. New Zealand's benchmark NZX 50 index added 0.3 per cent, or 14.1 points to 5,167.0.
  • Rupee hits 3-week high on S&P's fiscal deficit talk The rupee strengthened on Friday to a three-week high against the dollar after Bloomberg quoted an analyst at Standard & Poor's calling the government's target to lower the fiscal deficit a positive for the country's ratings. "The fiscal policy stance has been a constraining factor for India's sovereign ratings for some time," Bloomberg quoted S&P's associate director of sovereign ratings, Agost Benard, as saying. "If authorities can deliver on their fiscal goals resulting in a lower debt and interest burden that would benefit India's credit fundamentals," he was also quoted as saying. "If authorities can deliver on their fiscal goals resulting in a lower debt and interest burden that would benefit India's credit fundamentals," he was also quoted as saying. The partially convertible rupee rose to as high as 60.3750 per dollar, its strongest level since July 31, but had eased to 60.45/46 by 12:33 pm. It closed at 60.61/62 on Thursday.The government has a fiscal deficit target of 4.1 per cent of gross domestic product for the year ending in March 2015.  
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Friday, August 22, 2014

TODAY'S PRECIOUS METAL REPORT FROM RESEARCH VIA


DAILY BUZZ

SILVER
Silver prices fell by Rs 211 to Rs 42,130 per kg in futures trade today as speculators engaged in reducing positions largely in tune with a weakening trend overseas.
At the Multi Commodity Exchange, silver for delivery in September traded lower by Rs 211, or 0.50 per cent, to Rs 42,130 per kg in a business turnover of 331 lots.
Similarly, the white metal for delivery in far-month December declined by Rs 181, or 0.42 per cent, to Rs 42,897 per kg in a business volume of 35 lots.
In the international market, silver fell 0.41 per cent to $ 19.37 an ounce in Singapore.
Market analysts said a subdued trend in the global markets as minutes of the Federal Reserve's last meeting signalled that policy makers may increase borrowing costs earlier than expected amid strengthening dollar, reducing appeal of precious metals, put pressure on silver futures here.
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Thursday, August 21, 2014

DAILY BASE METAL REPORT FROM RESEARCH VIA 21/Aug/2014

Base Metals & Energy

DAILY BUZZ
ZINC
Zinc futures edged up by 0.36 per cent to Rs 141.25 per kg today as speculators enlarged positions on positive cues from global markets and better domestic demand.
At the Multi Commodity Exchange, zinc for delivery in September was up by 50 paise, or 0.36 per cent, to Rs 141.25 per kg, with a business turnover of 20 lots.
The metal for delivery in current month also rose by 45 paise, or 0.32 per cent, to Rs 140.70 per kg in a business volume of 233 lots.
Marketmen said besides improved demand in the domestic spot market, a firming trend in the metal overseas as stockpiles fell and after a jump in US home building increased speculation that demand is rising in the second- biggest user of industrial metals, supported the rise zinc prices at futures trade here.
Meanwhile, inventories tracked by the London Metal Exchange fell for the second day to 736,525 tonnes, according to exchange data.
Globally, zinc for delivery in three months rose as much as 0.4 per cent to $ 2,312 a metric tonne at the LME.
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Wednesday, August 20, 2014

DERIVATIVE DAILY ANALYSIS 20/Aug/2014 | Nifty Futures Tips

DERIVATIVE DAILY ANALYSIS 20/Aug/2014 | Nifty Futures Tips

DAILY FOREX REPORT FROM RESEARCH VIA 20/Aug/2014


MARKET HEADLINES

  • Asia forex edge higher; yuan hits 5-month high
    Most emerging Asian currencies crawled higher on Tuesday with the Chinese yuan at a five-month high as geopolitical tensions over the conflict in Ukraine eased. The firm dollar, however, kept trading ranges tight. Spot yuan rose 0.1 per cent to 6.1368 per dollar, its strongest since March 13, amid confidence in China's economy even though the central bank set a lower official guidance rate. The Taiwan dollar advanced on strong domestic stocks, while the Malaysian ringgit rose on solid economic fundamentals. Regional equities gained after Russia's foreign ministry said on Monday a 'certain progress' was achieved during talks among Russia, Ukraine, Germany and France over the weekend. Still, the easing tensions over Ukraine, as well as a solid US housing data, supported the dollar. Investors are closely watching Wednesday's release of minutes from the Federal Reserve's July policy meeting and comments from a global central bankers' meeting in Jackson Hole, Wyoming, starting on Thursday. "I wouldn't expect strong hawkish signals from Jackson Hole," said Yuna Park, a currency and bond analyst at Dongbu Securities in Seoul. "If expectations of a delay in the Fed's interest hike build up, Asia FX will strengthen further. Weak economic fundamentals in Europe may also drive more funds to Asia."
  • Dollar firm in Asia as Ukraine tensions ease
    The dollar held steady in Asia on Tuesday as concerns over a Ukrainian clash with Russia eased, while investors looked to a speech by the US Federal Reserve chief this week. In midday Tokyo trade, the greenback rose to 102.62 yen, up from 102.57 yen in New York and 102.32 yen in Tokyo earlier Monday. The euro was weaker at $1.3351 from $1.3363, while it bought 137.04 yen against 137.05 yen in US trade. "There was a general easing of geopolitical tensions, with no new developments being good news in Ukraine and Gaza," National Australia Bank said in a note. The Japanese yen and Swiss franc, considered safe-haven currencies in times of turmoil, notched up gains Friday after Ukraine said it had destroyed some Russian armoured cars, sparking fears of an escalation. Moscow dismissed the claim. A weekend meeting of the two nations' foreign ministers, which also involved officials from France and Germany, concluded with an agreement for the sides to meet again and continue trying to de-escalate the worst East-West crisis since the Cold War. In the Gaza Strip, a new 24-hour ceasefire came into effect Tuesday after Israeli and Palestinian negotiators agreed to extend a five-day truce, minutes before a midnight deadline, to allow for further talks on a long-term deal.
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Tuesday, August 19, 2014

DAILY STOCK FUTURES CALLS FROM RESEARCH VIA 19/Aug/2014

REVIA FUTURE: SELL TATA MOTORS DVR BELOW 348.65 TGTS 347.90/346.65/344.90 SL 349.40 (9977785000) WWW.RESEARCHVIA.COM
REVIA FUTURE: TATA MOTORS DVR HIT 1ST TGT 347.90 BOOK PART PROFIT (9977785000) WWW.RESEARCHVIA.COM
REVIA FUTURE: TATA MOTORS HIT 2ND TGT 346.65 LOW OF 346.30 BOOK MORE PROFIT (9977785000) WWW.RESEARCHVIA.COM

REVIA CASH: BUY SUNTV ABOVE 372 TGTS 375/382/392 SL 369 (9977785000) WWW.RESEARCHVIA.COM
REVIA CASH: SUN TV HIT 1ST TGT 375 CMP 376.50 BOOK PART PROFIT (9977785000) WWW.RESEARCHVIA.COM

REVIA CASH: BUY BHARAT FORG ABOVE 777.50 TGTS 783.50/791/800.50 SL 771.50 (9977785000) WWW.RESEARCHVIA.COM
REVIA CASH: BHARAT FORG HIT 1ST TGT 783.50 HIGH OF 784.60 BOOK PART PROFIT (9977785000) WWW.RESEARCHVIA.COM

REVIA ULTRA FUTURE: BUY SRIRAM TRANSPORT  ABOVE 911 TGTS 916/923 SL 906 (9977785000) WWW.RESEARCHVIA.COM
REVIA ULTRA FUTURE: SRIRAM TRANSPORT HIT 1ST TGT 916 BOOK PART PROFIT (9977785000) WWW.RESEARCHVIA.COM
REVIA ULTRA FUTURE: SRIRAM TRANSPORT HIT FINAL TGT 923 BOOK FULL PROFIT (9977785000) WWW.RESEARCHVIA.COM


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DAILY FOREX REPORT 19/AUG/2014 -

DAILY FOREX REPORT 19/AUG/2014 -

Monday, August 18, 2014

TODAY'S STOCK FUTURES TIPS FROM RESEARCH VIA

REVIA FUTURE: BUY REC LTD ABOVE 288.50 TGTS 290/292.50/296 SL 286.50 (9977785000) WWW.RESEARCHVIA.COM
REVIA FUTURE: REC HIT 1ST TGT 290 HIGH OF 290.20 BOOK PARTIAL PROFIT (9977785000) WWW.RESEARCHVIA.COM
 

REVIA FUTURE: BUY SSLT ABOVE 290.30 TGTS 291.05/292.30/294.05 SL 289.30 (9977785000) WWW.RESEARCHVIA.COM
REVIA FUTURE: SSLT HIT 1ST TGT 291.05 CMP 291.20 BOOK PARTPROFIT (9977785000) (9977785000) WWW.RESEARCHVIA.COM
REVIA FUTURE: SSLT HIT 2ND TGT 292.30 HIGH OF 292.50 BOOK MORE PROFIT (9977785000) WWW.RESEARCHVIA.COM
 

REVIA ULTRA FUTURE: BUY TATA MOTORS DVR ABOVE 352.50 TGTS 353.75/355.50 SL 351.25 (9977785000) WWW.RESEARCHVIA.COM
REVIA ULTRA FUTURE: TATA MOTORS DVR HIT 1ST TGT 353.75 HIGH OF 354.35 BOOK PART PROFIT (9977785000) WWW.RESEARCHVIA.COM
 

REVIA FUTURE: BUY VOLTAS ABOVE 228.40 TGTS 229.15/230.40/232.15 SL 227.40 (9977785000) WWW.RESEARCHVIA.COM
REVIA FUTURE: VOLTAS HIT FINAL TGT 229.15 HIGH OF 230 BOOK PART PROFIT (9977785000) WWW.RESEARCHVIA.COM
REVIA FUTURE: VOLTAS HIT 2ND TGT 230.40 BOOK MORE PROFIT (9977785000) WWW.RESEARCHVIA.COM
REVIA FUTURE: VOLTAS MADE A HIGH OF 232.00 NEAR TO OUR FINAL TGT 232.15 BOOK FULL PROFIT (9977785000) WWW.RESEARCHVIA


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Stock Futures tips: Derivative Weekly Analysis as on August 18, 2014

Stock Futures tips: Derivative Weekly Analysis as on August 18, 2014

Thursday, August 7, 2014

DAILY FOREX REPORT FROM RESEARCH VIA 7/AUG/2014


MARKET HEADLINES


  • China's yuan crosses midpoint into stronger territory for 1st time since March
    China's foreign exchange market on Wednesday traded yuan at a higher price than the official guidance rate for the first time since the currency's trading band was widened in March. The movement illustrates the steady return of bullish sentiment even in the face of flat guidance from the central bank. The People's Bank of China (PBOC) set the daily midpoint rate at 6.1681 per dollar on Wednesday. But the spot rate traded at 6.1680 per dollar in the afternoon, firmer than the midpoint for the first time since March 11 and its strongest position against the dollar since March 17. On March 15, the PBOC widened the intraday trading band - the range the spot rate has to trade above or below the daily fix - to 2 percent up from 1 percent, allowing greater two-way volatility into the market. Traders said the bank engineered a 3.3 percent depreciation in the Chinese currency in the first four months of this year to deter speculators from betting on a non-stop yuan appreciation. This caused the spot rate to trade far weaker than the midpoint for several months.

Wednesday, August 6, 2014

DAILY MCX COMMODITY REPORT 6/AUG/2014

Precious Metals

DAILY BUZZ
GOLD/SILVER
Snapping its four-day rising streak, gold prices fell by Rs 135 to Rs 28,390 per 10 grams in the national capital today on fall in demand at prevailing higher levels amid a weak global trend.
However, silver held steady at Rs 45,000 per kg on some support.
Traders said besides fall in demand at prevailing higher levels, weak global trend led to the fall in gold prices.
Gold in New York, which normally sets price trend on the domestic front, fell 0.46 per cent to USD 1 ,288.20 an ounce and silver by 0.84 per cent to USD 20.13 an ounce in yesterday's trade.
In Delhi, gold of 99.9 and 99.5 per cent purity dropped by Rs 135 each to Rs 28,390 and Rs 28,190 per 10 grams, respectively. It had gained Rs 325 in the previous four sessions.
Sovereign also declined by Rs 100 to Rs 24,700 per piece of eight grams.
On the other hand, silver ready held steady at Rs 45,000 per kg while weekly-based delivery lost Rs 490 at Rs 44,090 per kg on lack of buying support from speculators
Base Metals & Energy
DAILY BUZZ
NICKEL
Nickel prices moved down by 0.21 per cent to Rs 1,134.80 per kg in futures trade today as speculators trimmed positions even as the metal strengthened overseas.
At the Multi Commodity Exchange, nickel for delivery in September declined by Rs 2.40, or 0.21 per cent, to Rs 1,134.80 per kg in a business turnover of three lots.
The metal for delivery in August shed Rs 2.30, or 0.20 per cent, to Rs 1,129.50 per kg in 329 lots.
LEAD
Lead prices shed 0.50 per cent to Rs 138.05 per kg in futures trading today as speculators trimmed positions amidst a weak global trend and sluggish demand from battery-makers in the spot market.
At the Multi Commodity exchange, lead for delivery in August eased by 70 paise, or 0.50 per cent, to Rs 138.05 per kg in a business turnover of 185 lots.
The metal for delivery in September fell by a similar margin to trade at Rs 138.70 per kg in just one lot. At the LME, lead for delivery in three months retreated 0.8 per cent to USD 2,260 per tone.
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Tuesday, August 5, 2014

DAILY FOREX REPORT FROM RESEARCH VIA 5/Aug/2014


MARKET HEADLINES

  • Rupee gains 29 paise against US dollar The rupee recovered from over four-month low by strengthening 29 paise to 60.89 against the dollar in early trade today at the Interbank Foreign Exchange market on increased selling of the US currency. Forex dealers said a higher opening in the domestic equity market also supported the rupee but the dollar's gain against other currencies overseas limited the rise. The domestic currency had lost 63 paise to close at over four-month low of 61.18 against the dollar in Friday's trade on weakness in global stock markets and a strong US currency overseas. Meanwhile, the benchmark BSE Sensex recovered by 128.14 points, or 0.50 per cent, to 25,608.98 in early trade today.
  • Euro slips in Asia on Portugal bank bailout The euro slipped against the dollar in Asia on Monday following news of a bailout for a crisis-hit Portuguese bank, while the dollar held steady after falling on US jobs data. Portugal's central bank announced late Sunday that the nation will inject 4.4 billion euros ($5.9 billion) into the Banco Espirito Santo (BES) amid fears of a catastrophic bank run. The euro bought $1.3421 in Asia on Monday, down from $1.3430 in US trade late Friday, while fetching 137.80 yen against 137.75 yen. The dollar was at 102.66 yen compared with 102.60 yen in New York on Friday. The dollar slipped on Friday after US jobs data for July turned out to be solid but not strong enough to boost inflation expectations. Stocks were lacklustre Monday, weighed down by concerns over the impact of stricter sanctions on Russia on European economies and the situation surrounding the BES, said Yoshihiro Okumura, general manager of research at Chibagin Asset Management. "European risk is having an impact on the broader market," Okumura told Dow Jones Newswires. BES, Portugal's third-largest banking group, will be split into two entities, with its toxic assets isolated and its healthier assets regrouped in a new Novo Banco, national bank governor Carlos Costa said late Sunday. The market focus is now shifting to Thursday's monthly meeting of the European Central Bank (ECB), although it is widely expected to hold fire on new policy action despite a lingering threat of eurozone deflation and geopolitical risks. "The ECB might be enjoying a summer lull, eventually, with no hints of new action expected" at the upcoming meeting, Credit Agricole said in a note. The Bank of Japan (BoJ) is also scheduled to hold a two-day policy meeting later this week.
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Monday, August 4, 2014

WEEKLY COMMODITY MCX REPORT 4/Aug/2014


Precious Metal

DAILY BUZZ
SILVER
Silver futures rose in the domestic market on Friday as investors and speculators booked fresh positions in the precious metal amid a pickup in physical demand for the bullion in the domestic spot market. However, caution ahead of the US jobs data which may show strength in the labour market of the world’s biggest economy and may prompt the Fed to raise interest rates in the near-term, dimmed the appeal of silver as a store of value, trimming gains in the precious metal. The US economy may have added more than 200,000 jobs for a sixth straight month in July, data may show today. At the MCX, Silver futures, for the September 2014 contract, closed at Rs. 44,484 per kg, up by 0.19 per cent, after opening at Rs. 44,393, against the previous closing price of Rs 44,399. It touched an intra-day high of Rs 44,580 .

Base Metals & Energy
DAILY BUZZ
COPPER
Copper prices fell by 0.11 per cent on Friday at the domestic markets as the slowest gain in manufacturing activity in the Chicago region since October 2008 in July 2014 signaled doubts over the US economic recovery, clouding the demand outlook for the metal. The Chicago Purchasing Managers Index fell to 52.6 in July from 62.6 in the previous month, with a reading above 50 signaling expansion. At the MCX, copper futures for August 2014 contract were trading at Rs.435.60 per 1 kg, down by 0.11 per cent, after opening at Rs. 436.50 against the previous closing price of Rs. 436.10. It touched the intra-day low of Rs. 435.60 till the trading. (At 3.50 PM today). However, losses were curbed due to the decline in the copper stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME copper stocks fell by 550 metric tonnes to 146200 metric tonnes as on August 1, 2014.
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