DAILY MCX REPORT FROM RESEARCH VIA 31/OCT/2014

GOLD

Gold futures tumbled in the domestic market on Thursday as investors and speculators exited positions in the precious metal tracking a weak trend in the overseas market after the US Fed ended monthly bond purchases while investment demand tumbled after holdings in the largest exchange traded product (ETP) fell to the lowest level in six years.

Assets in the SPDR Gold Trust, the biggest bullion-backed ETP, shrank to the lowest level since October 2008 to 742.40 metric tons on Wednesday.

Gold futures for December 2014 contract, at MCX, is trading at Rs. 26,765 per 10 grams, down by 1.16 per cent, after opening at Rs. 26,990, against the previous closing price of Rs 27,079. It touched an intra-day low of Rs 26,761. (At 11:34 AM).

COPPER
 
Copper futures fell in the domestic market on Thursday as investors and speculators exited positions in the industrial metal tracking a weaker trend in the overseas market as the Fed’s decision to end QE boosted the dollar, curbing the demand for the base metal as an alternative asset.

Stronger greenback makes copper expensive for those holding other currencies, thus dimming demand.

Investors will be keeping an eye on planned mine strikes in Indonesia and Peru which may signal tighter copper supplies.

At the MCX, copper futures for November 2014 contract is trading at Rs. 417.85 per 1 kg, down by 0.89 per cent, after opening at Rs. 420.70, against the previous closing price of Rs. 421.60. It touched an intra-day low of Rs. 417.75. (At 11:38 AM).

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DAILY FOREX MARKET REPORT AND ANALYSIS 30/OCT/2014

MARKET HEADLINES

• Rupee up 7 paise against dollar in early trade

The rupee strengthened by seven paise to 61.25 against the dollar in early trade today at the Interbank Foreign Exchange on increased selling of the US currency by exporters and banks. Besides, the dollar's weakness against other currencies overseas as investors await news from the US Federal Reserve about interest rate plans for the world's largest economy and a higher opening in the domestic equity market supported the rupee, forex dealers said. The rupee had slipped by two paise to close at 61.32 against the US dollar in yesterday's trade due to some demand for the American unit in an overall lacklustre trade. Meanwhile, the benchmark BSE Sensex regained the 27,000-mark by surging 150.26 points, or 0.56 per cent, to 27,031.08 in early trade today.

• Dollar struggles as soft data push yields lower, Fed awaited

The US dollar nursed modest losses on Tuesday, having slipped overnight after soft economic data tempered risk appetite and pushed safe-haven US debt yields lower. Expectations of more dovish comments from the Federal Reserve, due to kick of its closely-watched two-day policy review later in the session, also weighed on the greenback. The greenback eased to 107.805 yen, retreating from Monday's near three-week peak of 108.38. It also ceded a bit of ground against the euro, which last traded at $1.2711 off Monday's low of $1.2665.

The dollar was lifted earlier on Monday after a closely-watched Ifo report showed German business sentiment in October hit its lowest level in almost two years. But support for the US currency faded after weaker-than-expected US housing data was released later in the session, pushing Treasury yields lower.

Data also showed US services sector activity slowed in October to a six-month low, while manufacturing output in Texas dipped, pointing to some moderation in economic growth early in the fourth quarter. he soft data reinforced expectations that the Fed will reassure markets that any interest rate hikes are a long way off even as it ends its massive bond-buying stimulus.

The Fed kicks off its policy review later on Tuesday and is all but certain to announce the completion of its quantitative easing program when it wraps up its two-day meeting. "Trade overnight had a very distinctive feeling of 'wait and see'," said Evan Lucas, market strategist at IG. "With the end of the asset purchase program a foregone conclusion, speculation is once again mounting about the movement of interest rates." But with US inflation weak, the European economy stumbling and the dollar on the rise, markets are keen to see if Fed officials will acknowledge risks to their expectations that the US recovery will continue to strengthen. 

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RESEARCH VIA DAILY FOREX MARKET UPDATE 29/OCT/2014

MARKET HEADLINES

• Rupee extends losses vs dollar, down 8 paise
  The rupee extended losses for the second consecutive day against the American currency, slipping by another eight paise to 61.38 on month-end dollar demand from importers. The rupee resumed lower at 61.33 per dollar as against the last closing level of 61.30 at the Interbank Foreign Exchange market and hovered in a range of 61.31 and 61.41 per dollar before quoting at 61.38 at 1000 hours. Month-end dollar demand from oil companies mainly affected the rupee value against the US currency, a forex dealer said. In the global market, Oil moved lower after Goldman Sachs slashed its price forecasts for the next two years owing to a global supply glut. US benchmark West Texas Intermediate (WTI) for December delivery fell 46 cents to USD 80.54 while Brent crude for December eased 59 cents to USD 85.24 in mid-morning trade. In New York market, the dollar slipped against the Japanese yen yesterday, ahead of crucial policy meetings of the Federal Open Market Committee and the Bank of Japan. Meanwhile, the Indian benchmark Sensex recovered by 97.88 points of 0.37 per cent to 26,850.78 at 1000hrs.
• Dollar struggles as soft data push yields lower, Fed awaited

The US dollar nursed modest losses on Tuesday, having slipped overnight after soft economic data tempered risk appetite and pushed safe-haven US debt yields lower. Expectations of more dovish comments from the Federal Reserve, due to kick of its closely-watched two-day policy review later in the session, also weighed on the greenback. The greenback eased to 107.805 yen, retreating from Monday's near three-week peak of 108.38. It also ceded a bit of ground against the euro, which last traded at $1.2711 off Monday's low of $1.2665. The dollar was lifted earlier on Monday after a closely-watched Ifo report showed German business sentiment in October hit its lowest level in almost two years. But support for the US currency faded after weaker-than-expected US housing data was released later in the session, pushing Treasury yields lower. Data also showed US services sector activity slowed in October to a six-month low, while manufacturing output in Texas dipped, pointing to some moderation in economic growth early in the fourth quarter. The soft data reinforced expectations that the Fed will reassure markets that any interest rate hikes are a long way off even as it ends its massive bond-buying stimulus. The Fed kicks off its policy review later on Tuesday and is all but certain to announce the completion of its quantitative easing program when it wraps up its two-day meeting. "Trade overnight had a very distinctive feeling of 'wait and see'," said Evan Lucas, market strategist at IG. 

PIVOT POINTS

• S1-56.6385
• S2-56.5490
• PP-56.8140
• R1-56.9035
• R2-57.0790

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MARKET ANALYSIS AND UPDATE FOR 29/10/2014 | Nifty Futures Tips

MARKET ANALYSIS AND UPDATE FOR 29/10/2014 | Nifty Futures Tips

DAILY NIFTY MARKET ANALYSIS AND REPORT 29/10/2014 | Nifty Outlook

DAILY NIFTY MARKET ANALYSIS AND REPORT 29/10/2014 | Nifty Outlook

DAILY MCX REPORT FROM RESEARCH VIA 16/OCT/2014

DAILY BUZZ

GOLD

Tracking a firming global trend, gold prices rose 0.55 per cent to Rs 27,119 per ten gram in futures trade today as speculators enlarged positions.

At the Multi Commodity Exchange, gold for delivery in December contracts moved up by Rs 147, or 0.55 per cent to Rs 27,119 per ten gram in business turnover of 1,800 lots.

On similar lines, gold for delivery in February traded higher by Rs 149, or 0.55 per cent to Rs 27,260 per ten gram in 24 lots.

Analysts attributed the rise in gold futures to a firming global trend where the metal traded at nearly four-week highs. as speculation that the US Federal Reserve may delay raising borrowing costs on slowing global growth hurt the dollar and boosted demand for a safe-haven.

Meanwhile, gold traded higher at $1,236.12 an ounce from $1,235.87 yesterday in Singapore.

COPPER

Copper prices moved up by 0.13 per cent to Rs 420.45 per kg in futures trade today as speculators enlarged positions after base metals rose in overseas markets amid pick-up in spot demand.

At the Multi Commodity Exchange, copper for delivery in February next year traded higher by 55 paise, or 0.13 per cent to Rs 420.45 per kg in business turnover of 10 lots.

In a similar fashion, the metal for delivery in November edged up by 50 paise, or 0.12 per cent to Rs 413.80 per kg in 2,306 lots.

Meanwhile, copper for delivery in three months gained 0.2 per cent to USD 6,723.25 a metric tonne at the London Metal Exchange

ZINC

Zinc prices rose by 0.74 per cent on Tuesday at the domestic markets after better than expected China export data eased concerns over an economic slowdown in the world’s biggest metals consumer, lifting the demand outlook for zinc. China’s exports climbed 15.3 per cent, year on year in September 2014, surpassing estimates of a 12 per cent rise. Zinc futures for October 2014 contract, at MCX, were trading at Rs 143.15 per kg, up by 0.74 per cent after opening at Rs. 142.55 against the previous closing price of Rs. 142.10. It touched the intra-day high of Rs. 143.30 till the trading. (At 4.15 PM).

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TODAY'S SURE SHOT NIFTY OPTION TIPS AND EQUITY TIPS

REVIA ULTRA CASH: BUY CROMPTON ABOVE 208 TGTS 210/215 SL 206 (9977785000) WWW.RESEARCHVIA.COM
REVIA ULTRA CASH: CROMPTON BUY CALL HIT 1ST TGT 210 HIGH OF 210.45 BOOK PART PROFIT  (9977785000) WWW.RESEARCHVIA.COM

REVIA CASH: BUY VOLTAS ABOVE 236 TGTS 238/242/250 SL 233(9977785000) WWW.RESEARCHVIA.COM
REVIA CASH: VOLTAS BUY CALL HIT 1ST TGT 238 BOOK PART PROFIT (9977785000) WWW.RESEARCHVIA.COM

REVIA CASH:  BUY BHARAT FORGE ABOVE 770 TGTS 776/785/795 SL 763 (9977785000) WWW.RESEARCHVIA.COMREVIA CASH: BHARAT FORGE BUY CALL HIT 1ST TGT 776 HIGH OF 778.80 BOOK PART PROFIT (9977785000) WWW.RESEARCHVIA.COM
REVIA CASH:   BHARAT FORGE BUY CALL HIT 2ND TGT 785 HIGH OF 787 BOOK MORE PROFIT (9977785000) WWW.RESEARCHVIA.COM

REVIA OPTION: BUY YES BANK 580 PUT ABOVE 13.25 TGTS 14.25/16.75/19.25 SL 11.75 (9977785000) WWW.RESEARCHVIA.COM
REVIA OPTION: YES BANK 580 PUT HIT 1ST TGT 14.25 HIGH OF 15.65 BOOK PART PROFIT   (9977785000) WWW.RESEARCHVIA.COM

REVIA OPTION: BUY NIFTY 7900 PUT ABOVE 111 TGTS 121/136/161 SL 96 (9977785000) WWW.RESEARCHVIA.COM
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REVIA ULTRA OPTION: BUY VOLTAS 240 CALL ABOVE 7 TGTS 8/10 SL 5.50 (9977785000) WWW.RESEARCHVIA.COM
REVIA ULTRA OPTION: VOLTAS 240 CALL HIT 1ST TGT 8 BOOK PART PROFIT (9977785000) WWW.RESEARCHVIA.COM

REVIA NIFTY: BUY NIFTY ABOVE 7870 TGTS 7890/7920/7970 SL 7845 (9977785000) WWW.RESEARCHVIA.COM
REVIA NIFTY: NIFTY BUY CALL HIT 1ST TGT 7890 HIGH OF 7894.50 BOOK PART PROFIT (9977785000) WWW.RESEARCHVIA.COM
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REVIA NIFTY: BUY BANK NIFTY ABOVE 15700 TGTS 15740/15800/15900 SL 15640 (9977785000) WWW.RESEARCHVIA.COM
REVIA NIFTY: BANK NIFTY BUY CALL HIT 1ST TGT 15740 HIGH OF 15751 BOOK PART PROFIT (9977785000) WWW.RESEARCHVIA.COM
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DAILY FOREX REPORT RESEARCH VIA 14/oct/2014

MARKET HEADLINES

• Rupee up 8 paise against dollar in early trade

The rupee recovered by 8 paise to 61.27 against the US dollar in early trade today at the Interbank Foreign Exchange market on fresh selling of the American currency.

Besides strengthening of the euro and yen against the dollar in overseas market supported the rupee, but a lower opening in the domestic equity market capped gains, forex dealers said.

The rupee had lost 30 paise to close at 61.35 in the previous session on Friday on fresh demand for the US currency from banks and importers due to firm dollar overseas and sharp fall in local equities.

The benchmark BSE Sensex fell by 159.35 points, or 0.61 per cent, to 26,138.03 in early trade today.

• Rupee down 30 paise at 61.35 vs dollar

Snapping a four-day gaining spree, the rupee today fell by 30 paise to close at 61.35 against the dollar on fresh demand for the US currency from banks and importers due to firm dollar overseas and sharp fall in local equities.

The local currency rupee resumed lower at 61.15 per dollar as against yesterday's closing level of 61.05 at the Interbank Foreign Exchange ( Forex) and dropped further to 61.36 per dollar before concluding the day at 61.35 per dollar, a loss of 30 paise or 0.49 per cent.

It moved in a range of 61.11 and 61.36 per dollar during the day.

"Rupee traded weak today taking cues from strong dollar overseas and weak local equities. After depreciating for four continuous weeks, rupee posted its first weekly gain this week," said Pramit Brahmbhatt, CEO, Veracity Group. 

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GOLD SILVER DAILY UPDATES FOR 13/OCT/2014

GOLD

Gold prices rose 0.72 per cent to Rs 27,080 per 10 grams in futures trade today as speculators created fresh positions after the precious metal climbed to almost two-week high in global markets.

At the Multi Commodity Exchange, gold for delivery in February next year was up by Rs 194, or 0.72 per cent, to Rs 27,080 per 10 grams in a business turnover of six lots.

The metal for delivery in December moved up by Rs 187, or 0.70 per cent, to Rs 26,924 per 10 grams in a turnover of 836 lots.

Gold rose by 0.40 per cent to USD 1,225.60 an ounce in Singapore, the highest since September 26.

SILVER

Silver prices fell by 0.55 per cent to Rs 38,402 per kg in futures trade today amidst profit-booking by speculators and a weak trend overseas.

At the Multi Commodity Exchange, silver for delivery in December traded lower by Rs 213, or 0.55 per cent, to Rs 38,402 per kg in a business turnover of 897 lots.

Similarly, the white metal for delivery in March declined by Rs 212, or 0.54 per cent, to Rs 39,080 per kg in a business volume of six lots.

In the international market, silver lost 0.50 per cent at USD 17.28 an ounce in Singapore.

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DAILY GOLD SILVER UPDATES FROM RESEARCH VIA 10/OCT/2014

GOLD

Gold prices rose 0.72 per cent to Rs 27,080 per 10 grams in futures trade today as speculators created fresh positions after the precious metal climbed to almost two-week high in global markets.

At the Multi Commodity Exchange, gold for delivery in February next year was up by Rs 194, or 0.72 per cent, to Rs 27,080 per 10 grams in a business turnover of six lots.

The metal for delivery in December moved up by Rs 187, or 0.70 per cent, to Rs 26,924 per 10 grams in a turnover of 836 lots.

Gold rose by 0.40 per cent to USD 1,225.60 an ounce in Singapore, the highest since September 26. 

SILVER

Silver prices rose sharply by 1.28 per cent to Rs 39,365 per kg in futures trading today as speculators created fresh positions amid a firming trend in the precious metal overseas.

At the Multi Commodity Exchange, silver for delivery in March 2015 was up by Rs 497, or 1.28 per cent, at Rs 39,365 per kg in a business turnover of 18 lots.

Likewise, the white metal for delivery in December traded higher by Rs 383, or 1.18 per cent, to Rs 38,670 per kg in 1,476 lots. 

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TODAY'S STOCK FUTURES TIPS FROM RESEARCH VIA

REVIA FUTURE: SELL DLF BELOW 151.75 TGTS 151/149.75/148 SL 152.75 (9977785000) WWW.RESEARCHVIA.COM
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REVIA FUTURE: SELL RELIANCE CAPITAL BELOW 452.75 TGTS 451.25/448.75/445.25 SL 454.75 (9977785000) WWW.RESEARCHVIA.COM
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REVIA ULTRA FUTURE: BUY IRB INFRA ABOVE 227.50 TGTS 228.15/229 SL 226.50  (9977785000) WWW.RESEARCHVIA.COM
REVIA ULTRA FUTURE: IRB INFRA HIT 1ST TGT 228.15 CMP 228.45 BOOK PART PROFIT (9977785000) WWW.RESEARCHVIA.COM
REVIA ULTRA FUTURE: IRB INFRA HIT FINAL TGT 229 HIGH OF 229.20 BOOK FULL PROFIT (9977785000) WWW.RESEARCHVIA.COM

REVIA ULTRA FUTURE: BUY ADANI PORTS ABOVE 267.50 TGTS 268.75/270.50 SL 266.25 (9977785000) WWW.RESEARCHVIA.COM
REVIA ULTRA FUTURE: ADANI PORTS HIT OUR 1ST TGT 268.75 HIGH OF 268.90 BOOK PART PROFIT  (9977785000) WWW.RESEARCHVIA.COM

REVIA ULTRA FUTURE: SELL AURO PHARMA BELOW 965 TGTS 960/953 SL 970 (9977785000) WWW.RESEARCHVIA.COM
REVIA ULTRA FUTURE: BOOK PART PROFIT IN AURO PHARMA SELL CALL AT CMP 961.25 AND REVISE SL AT COST (9977785000) WWW.RESEARCHVIA.COM

REVIA EQUITY HNI: BUY UBL ABOVE 708 TGTS 718/735 SL 698 (9977785000) WWW.RESEARCHVIA.COM
REVIA EQUITY HNI: UBL BUY CALL HIT 1ST TGT 718 CMP 719 BOOK PART PROFIT (9977785000) WWW.RESEARCHVIA.COM

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TODAY'S GOLD UPDATES FROM RESEARCH VIA 8/OCT/2014

GOLD

Gold prices fell by 0.16 per cent to Rs 26,678 per ten grams in futures trade today as speculators indulged in trimming positions in tandem with a weak global trend.

At the Multi Commodity Exchange, gold for delivery in December fell by Rs 43, or 0.16 per cent, to Rs 26,678 per ten grams in a business turnover of 409 lots.

Similarly, the metal for delivery in February 2014 contracts lost Rs 21, or 0.08 per cent, to Rs 26,883 per ten grams in a business turnover of just one lot.

Analysts attributed the fall in gold futures to trimming of positions by speculators in tandem with a weak global trend as the dollar advanced towards a four-year high, reducing demand for precious metals as an alternative investment.

Meanwhile, gold fell 0.4 per cent to $1,203.02 an ounce in Singapore in early trade today. 

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DAILY COMMODITY MARKET UPDATE AND REPORT 6/OCT/2014

Precious Metals

GOLD/SILVER

Continuing its rising streak for the third day, gold prices advanced by Rs 130 to Rs 27,470 per ten grams in the national capital today on increased buying by jewellers and retailers amid ongoing festive season even as the metal weakened overseas.

Silver, however, met with resistance and dropped by Rs 1,050 to Rs 38,650 per kg on reduced offtake by industrial units and coin makers.

Marketmen said steady inflow of buying by jewellers and retailers, triggered by ongoing festive season and a weakening rupee against the dollar that made imports costlier, mainly influenced gold prices.

In Delhi, gold of 99.9 and 99.5 per cent purity rose by Rs 130 each to Rs 27,470 and Rs 27,270 per ten grams, respectively. It had gained Rs 110 in previous two days.

Globally, gold fell 0.24 per cent to USD 1205.80 an ounce in London.

Sovereign, however, held steady at Rs 24,200 per piece of eight grams in limited deals.

On the other hand, silver ready plunged by Rs 1,050 to Rs 38,650 per kg and weekly-based delivery by Rs 1,025 to Rs 38,170 per kg. It had gained Rs 165 in last two sessions.

Base Metals & Energy 

COPPER

Copper prices fell by 0.08 per cent on Wednesday at the domestic markets as soft inflation data in Europe reduced the demand for the metal. Eurostat, the statistics arm of the European Union, reported that the euro area's annual inflation rate fell to a five-year low of 0.3 per cent in September from 0.4 per cent in August. Core inflation, which strips out food, energy, alcohol and tobacco costs, came in at 0.7 per cent, down from 0.9 per cent in August. At the MCX, copper futures for November 2014 contract were trading at Rs.415.65 per 1 kg, down by 0.08 per cent, after opening at Rs. 415.10 against the previous closing price of Rs. 416. It touched the intra-day low of Rs. 413.70 till the trading.

ZINC

Zinc prices fell by 1.17 per cent on Wednesday at the domestic markets as a disappointing consumer confidence report reduced the demand outlook for the metal. The Conference Board reported earlier that its consumer confidence index fell to 86.0 this month from 93.4 in August, whose figure was revised up from a previously reported 92.4. Zinc futures for September 2014 contract, at MCX, were trading at Rs 139.40 per kg, down by 1.17 per cent after opening at Rs. 140.80 against the previous closing price of Rs. 141.05. It touched the intra-day low of Rs. 138.80 till the trading.

Agro Outlook 

CASTORSEED

Castorseed prices fell by 0.65 per cent on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of fresh supply of the commodity in the major mandies as well as strong production estimates. At the NCDEX, castor seed futures for October 2014 contract was trading at Rs. 4,560 per quintal tonnes, down by 0.65 per cent, after opening at Rs. 4,580 against the previous closing price of Rs. 4,590. It touched the intra-day low of Rs. 4,552 till the trading.

CARDAMOM

Cardamom prices fell by 0.95 per cent on Wednesday at the Multi Commodity Exchange (MCX) due to the adequate stocks availability in the physical market on account of higher supply from the producing belts of Chandausi in Uttar Pradesh. At MCX, Cardamom futures for October 2014 contract were trading at Rs. 832 per kg, down by 0.95 per cent, after opening at Rs. 832 against the previous closing price of Rs. 832.20. It touched the intra-day low of Rs. 821.10 till the trading.

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