Accurate Commodity Future Call

BUY GOLD ABOVE 29580 TGT 29640SL BELOW 29500

SELL COPPER BELOW 430.50  TGT 428 SL ABOVE 433.50

SELL ZINC(OCT) BELOW  206.80 TGT 206 SL ABOVE 207.80

             MCX COMMODITY TIPS

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Zinc futures dip on subdued demand

Zinc futures were trading lower during the afternoon trade in the domestic market on Thursday as speculators trimmed positions amid easing demand in the spot market. Analysts said offloading of positions by participants on the back of tepid demand in the spot markets, mainly led to decline in zinc prices at futures trade.

At the MCX, zinc futures for September 2017 contract was trading at Rs 206.50 per kg, down by 0.27 per cent, after opening at Rs 206.75, against a previous close of Rs 207.05. It touched the intra-day low of Rs 205.80 

 

 

                       

                                 MCX COMMODITY TIPS

 

SELL ZINC  BELOW 206.50 TGT 205.90 SL ABOVE 207.30

 

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Gold, silver trade lower

MCX Gold futures traded down by 0.15% at Rs 29,826 per 10 gram around 1015 hours, whereas MCX Silver futures traded almost flat at Rs 39,852, lower by 0.01% from its last close price. 

As per analysts, bullion counter will continue to remain sideways as the movement of US dollar, geopolitical tensions and US durable goods  order  data will influence the price movement of the precious metal.  The movement of rupee will also reflect on the prices of the precious metal. In the morning trade on Wednesday, rupee traded at 65.56, down by 11 paise.    

Following the global cues, domestic equity markets also traded down in the intraday trade on Wednesday. S&P BSE Sensex was lower by 140.91 points, or 0.45%, at 31458.85, while NSE Nifty index was down by 36.60 points, or 0.37%, at 9,834.90 at around 1126 hours.   

SELL ZINC  BELOW 208.20 TGT 207.50 SL ABOVE 209.20
 
SELL CRUDE OIL BELOW 3450 TGT 3420 SL ABOVE 3886

BUY LEAD ABOVE 162.30 TGT 161.50 SL BELOW 164.30

SELL GOLD BELOW 29870 TGT 29810 SL ABOVE 29960

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Oil demand may exceed supply by up to 4 million bpd by 2019: Trafigura

SINGAPORE  - Global oil demand may be between 2 million to 4 million barrels per day (bpd) more than worldwide crude supply by the end of 2019 as exploration spending has declined as prices fell, an executive with commodities trading house Trafigura said on Tuesday.

The mismatch in supply and demand is the result of a decline in spending to find new oil and gas reserves and as existing wells, especially new wells from shale formations, are naturally used up, said Ben Luckock, Trafigura’s co-head of group market risk, at an industry conference in Singapore.

Benchmark Brent crude oil prices collapsed to as low as $27.10 a barrel in January 2016 from as much as $115.71 in June 2014. Prices have rebounded since then to over $59. The steep decline in revenue as prices dropped caused companies to cut their exploration budgets.

Luckock pointed to a drop in exploration spending in 2016 to about $300 billion from $700 billion two years earlier as a reason supply will eventually fall below demand.

                                 MCX COMMODITY TIPS

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Accurate Commodity Levels

SELL GOLD BELOW 29530 TGT 29470 SL ABOVE 29611
 
SELL CRUDE OIL BELOW 3285 TGT 3255 SL ABOVE 3321

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Gold, silver gain on heightened geopolitical tension

Gold traded higher in the early hours of trade on Friday as a result of the increasing geopolitical tensions in the Korean Peninsula, coaxing the investors to invest in the safe-haven asset.

MCX Gold was trading 0.56% higher at Rs 29,729 at around 1030 hours, whereas, MCX Silver was trading 0.54% higher at Rs 40,050 at the same time in Friday’s trade. The world’s largest gold-backed exchange-traded fund, SPDR Gold Trust witnessed a surge in its holdings by 0.73% to 852.24 tonnes in Thursday’s trade.

Meanwhile, domestic equity markets witnessed a negative sentiment in the early trade hours as rupee plunge below 65-mark, hitting its lowest level in the past five and a half months. The BSE Sensex was trading 260 points, or 0.80% lower at 32,110 level at 1040 hours, while NSE Nifty index was down by 99 points, or 0.97%, at 10,023 level at around the same time.

The precious metal is expected to trade sideways on the back of increasing global political tension, however, the movements in the dollar index and the ECB chief, Draghi speech is likely to reflect on the price movement of the bullion.

 

                 
                                           GOLD COMMODITY TIPS

BUY COPPER ABOVE 417.80 TGT 419.80-422.80-426.80 SL BELOW 414.50 CMP 417.80

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Cardamom futures dip amid easing spot demand

Cardamom futures were trading lower during the morning trade in the domestic market on Thursday as speculators booked profits at prevailing levels amid easing demand in the spot market.

Analysts said besides profit booking by participants at existing level, fall in demand against adequate stocks position, mainly led to decline in cardamom prices at futures trade.

At the MCX, cardamom futures for October 2017 contract was trading at Rs 1138 per kg, down by 0.07 per cent, after opening at Rs 1138, against a previous close of Rs 1138.80. It touched the intra-day low of Rs 1137.

                                             MCX COMMODITY TIPS  

BUY GOLD ABOVE 29480 TGT 29550 SL BELOW 29400
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Mentha oil futures up on increasing demand

Mentha oil futures were trading higher during the morning trade in the domestic market on Wednesday amid pick-up in demand at domestic spot market and restricted supplies from producing regions. Market analysts said fresh positions built up by traders following pick-up in demand from consuming industries in the spot market against restricted supplies from Chandausi, led to the rise in mentha oil prices in futures trade.

At the MCX, mentha oil futures for September 2017 contract was trading at Rs 1171.10 per kg, up by 0.33 per cent, after opening at Rs 1164.60, against the previous closing price of Rs 1167.30. It touched the intra-day high of Rs 1171.10

 

MCX TIPS

 

SELL LEAD BELOW 156.60 TGT 155.80 SL ABOVE 157.50

SELL ZINC BELOW 202 TGT 201 SL ABOVE 203
 

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Lead futures dip on subdued demand

Lead futures were trading lower during the afternoon trade in the domestic market on Tuesday as participants reduced their exposure amid subdued demand from consuming industries in the spot market. Marketmen said the weakness in lead futures was due to a sluggish demand from battery-makers at the domestic markets.

At the MCX, lead futures for September 2017 contract is trading at Rs 152.30 per kg, down by 0.13 per cent, after opening at Rs 151.90, against a previous close of Rs 152.50. It touched the intra-day low of Rs 151.65.

                            MCX COMMODITY TIPS

SELL COPPER BELOW 423 TGT 421 SL ABOVE 426

SELL CRUDE OIL BELOW 3225 TGT 3195 SL ABOVE 3161 

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Oil edges up on rising refinery demand, falling U.S. rig count

SINGAPORE - Oil markets were firm on Monday and remained near multi-month highs hit late last week as the number of U.S. rigs drilling for new production fell and refineries continued to restart after getting knocked out by Hurricane Harvey.

U.S. West Texas Intermediate (WTI) crude futures were at $50.01 per barrel at 0547 GMT, and close to the more than three-month high of $50.50 reached last Thursday.

Brent crude futures, benchmark for oil prices outside the United States, were at $55.71 a barrel, up 9 cents and not far from the almost five-month high of $55.99 touched on Thursday.

"Demand forecasts from OPEC and IEA ... continued to improve sentiment in the market. Refineries are also reporting a much better recovery from the recent hurricanes," ANZ bank said on Monday.

Oil refineries across the Gulf of Mexico and the Caribbean were restarting after being shut due to hurricanes Harvey and Irma, which battered the region over the past three weeks.

Royal Dutch Shell's Deer Park refinery in Texas was among the latest, beginning its restart on Sunday. The plant can process 325,700 barrels per day.

                               MCX COMMODITY TIPS

SELL LEAD BELOW 152 TGT 151.40 SL ABOVE 152.80

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Nickel futures dip on easing demand

 
Copper futures were trading lower during the noon trade in the domestic market on Thursday as speculators offloaded their positions amid a weak trend in global markets.

Marketmen attributed the fall in copper futures to weakness in metal at the London Metal Exchange (LME) on profit-taking, rising inventories at the exchange's warehouses, nervousness about demand in China and a higher dollar.

At the MCX, copper futures for November 2017 contract was trading at Rs 422.00 per kg, down by 0.52 per cent, after opening at Rs 423.95, against a previous close of Rs 424.20. It touched the intra-day low of Rs 421.15

                                          BEST COMMODITY TIPS

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White metal up amid robust global cues

Silver futures were trading higher during the afternoon trade in the domestic market on Wednesday taking positive cues from the global market. Market analysts said a firm trend in precious metals in global market mainly attributed to the rise in silver prices at the futures trade.

At the MCX, silver futures for December 2017 contract was trading at Rs 41380 per kg, up by 0.40 per cent, after opening at Rs 41242, against a previous close of Rs 41,216. It touched the intra-day high of Rs 41,434.

                                        FREE COMMODITY TIPS 
 


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Gold, silver decline in morning session

Gold prices were trading in red during the morning trade on Tuesday on the account of weak trend overseas and subdued demand from local jewellers.

MCX Gold was down 0.31%, or Rs 94, at Rs 29,839 per 10 gram around 1035 hours, whereas MCX Silver was down 0.33%, or Rs 134, at Rs 41,030 per 1 kg.

The market participants expect that gold to trade sideways on Tuesday due to profit booking after the recent rally. While stronger dollar index and less damage by Hurricane IRMA are factors pushing down the gold prices.

Latest holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, declined 0.3% to 834.50 tonnes till September 8. Holdings of the largest silver-backed exchange-traded-fund (ETF), New York's iShares Silver Trust SLV, stood at 10,173.58 tonnes, remain unchanged from the previous business day.

Meanwhile, BSE Sensex was up 168 points, or 0.53%, at 32,050, while Nifty was up 47 points, or 0.47 per cent, at 10,053.

                                            
                                            MCX COMMODITY TIP

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Cardamom futures up on rising demand

Cardamom futures were trading higher during the morning trade in the domestic market on Monday as investors and speculators extended their positions in the agri-commodity amid rise in physical demand for cardamom in the domestic spot market.

Further, insufficient supplies on higher physical arrivals from the major cardamom producing regions, supported the upward trend in the domestic cardamom prices.

At the MCX, cardamom futures for October 2017 contract was trading at Rs 1191.40 per kg, up by 0.54 per cent, after opening at Rs 1195, against a previous close of Rs 1185. It touched the intra-day high of Rs 1195.

                                              GOLD COMMODITY TIPS

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Lead futures down on easing demand

Lead futures were trading lower during the afternoon trade in the domestic market on Friday as participants reduced their exposure amid subdued demand from consuming industries in the spot market. Marketmen said the weakness in lead futures was due to a sluggish demand from battery-makers at the domestic markets.

At the MCX, lead futures for September 2017 contract is trading at Rs 146.80 per kg, down by 1.54 per cent, after opening at Rs 148.95, against a previous close of Rs 149.10. It touched the intra-day low of Rs 146.60.

 

LIVE COMMODITY TIPS

 

SELL CRUDEOIL BELOW  3135 TGT  3115-3085-3035 SL ABOVE 3175 CMP 3135

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Essar Oil announces $250 mn capex for UK refinery

Ruia brothers led Essar Oil UK on Wednesday announced its plans to invest $250 million in capital expenditure and maintenance at Stanlow refinery to boost production and revenues.

"Major investment in 2018 will increase annual throughput from 68 million to 75 million barrels," the company said in a release here. 

Essar Oil UK Non-Executive Chairman Prashant Ruia in a statement said the major investment "we have confirmed in Stanlow will materially increase throughput and further grow revenues, building on the tremendous progress we have made in turning around the business over the past six years".

"Essar has committed this year to a significant multi-million dollar capex investment in the Tiger Cub project at Stanlow to deliver improved yields across the product slate and drive revenue growth," Chief Executive Officer S. Thangapandian said.

Essar Oil UK owns and operates the Stanlow refinery complex, which produces over 16 per cent of transport fuels in the UK, the company said.

 

BUY ALUMINIUM ABOVE 133.30 TGT 133.80-134.50-135.50 SL BELOW  132.50 CMP 133.30 

 

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Crude palm oil, Cardamom prices tank while Mentha oil soars

Agri commodities namely crude palm oil and mentha oil prices in futures trading witnessed a dip during Tuesday’s trade.

Crude palm oil prices shed 0.13% to Rs 526.30 per 10 kg in futures trade as traders reduced exposure due to lower demand in the spot market against adequate stock positions. At the MCX, crude palm oil for delivery in October drifted down by 70 paise or 0.13% to Rs 526.30 per 10 kg in business turnover of 9 lots.

Cardamom prices drifted lower by 1.02% to Rs 1,200 per kg as market participants reduced their exposure amid easing demand in the spot market against adequate stocks. At the Multi Commodity Exchange, cardamom for delivery in September fell by Rs 12.40 or 1.02% to Rs 1,200 per kg in business turnover of 15 lots.

Analysts said besides profit booking by participants at existing level, fall in demand against adequate stocks position, mainly led to decline in cardamom prices at futures trade.

                   MCX COMMODITY TIPS TODAY
 
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Copper futures surge 0.91% on robust demand

Copper futures were trading higher during the noon trade in the domestic market on Monday amid pick-up in demand at the domestic spot markets. Marketmen attributed the rise in copper futures to a rising demand from consuming industries at domestic spot markets.

At the MCX, copper futures for November 2017 contract was trading at Rs 445.95 per kg, up by 0.91 per cent, after opening at Rs 443.10, against a previous close of Rs 441.95. It touched the intra-day high of Rs 447.50. 

BUY ALUMINIUM ABOVE  135.30 TGT 135.80-136.50-137.50 SL BELOW 134.50 CMP 135.30

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Mentha oil futures rise on surging demand

Mentha oil futures were trading higher during the morning trade in the domestic market on Friday amid pick-up in demand at domestic spot market and restricted supplies from producing regions. Market analysts said fresh positions built up by traders following pick-up in demand from consuming industries in the spot market against restricted supplies from Chandausi, led to the rise in mentha oil prices in futures trade.

At the MCX, mentha oil futures for September 2017 contract was trading at Rs 1198 per kg, up by 0.74 per cent, after opening at Rs 1195.30, against the previous closing price of Rs 1189.20. It touched the intra-day high of Rs 1201.50. 

MCX COMMODITY CALL TIPS

 

SELL COPPER BELOW 440.80 TGT 438 SL ABOVE 444

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