MCX COMMODITY DAILY REPORT

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EPIC Research Report

This Report contains all the study and strategy required by trader to trade on MCX commodities. Refer to the chart attracted in the Report to take proper Trading Decision.

Date: 16-September-2013

MCX Weekly Newsletter (16-September-2013)

WEEKLY COMMODITY WRAP..!!!!!

Base metals
LME base metals traded lower this week on account of mixed macroeconomic numbers. In Europe, industrial production fell 1.5% in July, as compared with the expectations of a 0.1% Increase. German industrial production fell 2.3% in July from June levels and France, Italy, Ireland and Portugal also reported lower Readings. However, the downside in metal prices was limited as Markets garnered strength from improving backdrop in China. Chinas industrial output grew at its fastest pace in 17 months In August, rising some 10.4% from a year earlier and coming in Well ahead of estimates. Steel production was up almost 16% in August on YOY basis, up from 10.9% in July, while electricity output expanded 13.4% compared with 8.1% July. Progress in Chinese economic activity should provide some support to the non-ferrous metals; however the proverbial Sept-taper may put the bulls on the back foot. The tapering Amount may vary between US$10-$20bn of monthly bond Buying, which is not that significant considering the fact that US is a $16 trillion economy. However, the intuition of an end to dirt cheap interest rates may trigger an orchestrated selloff in the entire commodity pack. Base metals should remain relatively less vulnerable, as the complex is more receptive to Chinese economic activity rather than what the wise men at Federal Reserve are contemplating at. Nevertheless, the pack Cannot defy the impact of consequential strong US dollar.

Precious metals
Precious metals fell sharply this week, with gold prices breaching The crucial support of US$1,350/oz and silver prices heading Below US$22/oz. Jitters ahead of the Federal Reserve decision next week has taken a toll on the pack. The consensus is that the apex bank may taper the monetary stimulus (bond buying programmers) by US$10bn. Meanwhile, market participants have factored in the Syrian situation, whereby the tensions heave deescalated to an extent. Syria has accepted Russian proposal of Handing over the chemical weapons to the International body. Syrian is ready to declare the location of the chemical weapons To representatives of Russia and other United Nations member States and stop the production of the chemical weapons as well. Recent weakness in gold prices seems to extending till US$1,280/oz. However at the end of the this month, gold Prices should garner an element of support, as US Congress Legislators have yet not passed a law to finance the budget For the 2014 fiscal year that commences on October 1st. The government is projected to reach its debt limit in midOctober. Although Democrats have called for a debt-limit Increase with no policy changes, House Republicans are Under pressure from committee members to withdraw the Health-care program.

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MCX Weekly Newsletter (16-September-2013)

GOLD MCX HOURLY CANDLESTICK CHART

TRADING STRATEGY: GOLD MCX is trading too volatile and has faced correction last week. Momentum seem to be in favour of bears and also USDINR may face correction this week. Immedaite Resistance @32420 and Support @31550
1. Gold buy above 30235 TGTS 30500/31000 SL 30000 2. Gold sell below 29880 TGTS 29600/29300 SL 30100

SILVER MCX HOURLY CANDLESTICK CHART

TRADING STRATEGY: SILVER MCX faced correction last week. Momentum seem to be in favour of bears and also USDINR may face correction this week. Hence fresh Short Positions can be created. Immediate Resistance @55620 and Support @54250
1. 2. Silver buy above 50900 TGTS 51700/52500 SL 50100 Silver sell below 49850 TGTS 49050/48050 SL 50350

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MCX Weekly Newsletter (16-September-2013)

COPPER MCX HOURLY CANDLESTICK CHART

TRADING STRATEGY: COPPER MCX also faced correction last week and May take Support around levels @470-465. Any Correction towards 470 will be buying opportunity in Copper. Immediate Resistance @476 and Support @472 1. Copper Buy above 461 TGTS 470/485 SL 451 2. Copper Sell below 450 TGTS 440/430 SL 460

CRUDEOIL MCX HOURLY CANDLESTICK CHART

TRADING STRATEGY: CRUDEOIL MCX has strong support Support around 7100-7050 levels and any correction towards those levels will be buying opportunity. Alternetively we may see selling if beaks support @7050 Immediate Resistance @7225 And Support @7135 1. Crude oil Buy above 7000 TGTS 7100/7300 SL 6850 2. Crude oil Sell below 6750 TGTS 6650/6500 SL 6900

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MCX Weekly Newsletter (16-September-2013)

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