Updates on Bullion, Base Metals and Energy Levels 14th March. 17

                        

Gold futures edged lower on MCX as speculators exited their positions in the precious metal on diminishing safe-haven demand due to an uptick in the US dollar ahead of a two-day US Federal Reserve meeting where the central bank is widely expect to raise interest rates. The chances of raising interest rate by the US Fed are higher when the meeting concludes on Wednesday led by signs of an uptick in inflation and continued strength in the US jobs market.

Crude oil futures continued their declining trend for the sixth straight session on Monday, as the rising US crude inventories continued to weigh on oil prices, and investors feared the supply glut in US inventories could hamper OPEC’s efforts to rebalance supply and demand. The EIA has recently reported domestic oil stockpiles have surged to their highest ever. Meanwhile, the oil services firm Baker Hughes reported that US oil rig count rose for an eighth straight week to the highest level since 2015. U.S. rig count rose by 8 to 617.

Copper futures ended higher on Monday as traders refocused on supply disruptions at mines in Chile and Indonesia. Over the weekend, the union at Chile’s Escondida, the world’s largest copper mine, rejected efforts by BHP Billiton, the majority-owner of the mine, to restart talks. The strike has now been running for more than a month. A strike at the Cerro Verde mine in Peru, which is owned by Freeport-McMoRan, began. A dispute over the terms of an export license for Freeport’s Grasberg mine in Indonesia also continues to drag on. Copper prices improved further as the dollar weakened against a basket of the other major currencies ahead of the outcome of this week’s Federal Reserve meeting, which is expected to result in the first of a series of rate hikes this year.

Technical Level

Gold 

Support at 28050 and Resistance 28300

Gold looks weak and could touch its support level of 28050, further downside panic will see below 28050 else could touch its resistance level of 28300 again.

Fresh buying can be initiated above 28300

Trade with levels only

Silver

Support at 40200 and Resistance 40700

Break and sustain below 40200 will take it to 39800---39500 mark else it could touch its resistance level of 40700 again.

Fresh buying can be initiated above 40700 mark

Crude Oil

Support at 3185 and Resistance 3260

Break and sustain below 3185 will take it to 3130---3080 and then to 3030 mark else could touch its resistance level of 3260 again.

Trade with levels only

Natural Gas

Support at 197 and Resistance at 203.50

Break and sustain above 203.50 will take it to 208---212+++ mark else could touch its support level of 197 again.

Fresh selling can be initiated below 197.00 on closing basis.

Copper

Support at 383 and Resistance at 388

Break and sustain below 383  will take it to 378---373 and then to 369 mark else could touch its resistance level of 388 again.

Fresh buying can be initiated above 388.00

Major Economic Data

07:00 P.M PPI m/m:  Previous 0.6%, Forecast 0.1%, Actual –??

Impact – Increase in PPI - will have negative impact bullion and positive impact on base metals and dollar index vice – versa.

07:00 P.M Core PPI m/m:  Previous 0.4%, Forecast 0.2%, Actual –??

Impact – Increase in Core PPI - will have negative impact bullion and positive impact on base metals and dollar index vice – versa.

More will update soon!!

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बिजनेस न्यूज़ : फरवरी में बढ़ी थोक महंगाई

फरवरी में थोक महंगाई में बढ़ौतरी देखने को मिली है और ये अपने लगभग 39 महीनें के शिखर पर पहुंच गई है। फरवरी में थोक महंगाई दर 6.55 फीसदी के स्तर पर पहुंच गई है जबकि जनवरी में थोक महंगाई दर 5.25 फीसदी के स्तर पर रही थी। वहीं, दिसंबर की थोक महंगाई दर 3.68 फीसदी से संशोधित होकर 3.39 फीसदी हो गई है। महीने दर महीने आधार पर फरवरी में खाने-पीने की चीजों खासकर चावल, फ्रूट्स, दालों की महंगाई दर -56 फीसदी से बढ़कर 2.69 फीसदी हो गई है। वहीं माह दर माह आधार पर ईंधन की महांगाई दर -18.14 फीसदी के मुकाबले 21.02 फीसदी रही है।

महीने दर महीने आधार पर फरवरी में प्राइमरी आर्टिकल्स की महंगाई दर भी बढ़ी है। महीने दर महीने आधार पर फरवरी में प्राइमरी आर्टिकल्स की महंगाई दर 1.27 फीसदी से बढ़कर 5 फीसदी रही है। वहीं महीने दर महीने आधार पर फरवरी में मैन्यूफैक्चर्ड प्रोडक्ट्स की महंगाई दर घटी है। महीने दर महीने आधार पर फरवरी में मैन्यूफैक्चर्ड प्रोडक्ट्स की महंगाई दर 3.99 फीसदी से घटकर 3.66 फीसदी हो गई है। जबकि महीने दर महीने आधार पर फरवरी में कोर महंगाई की दर 2.7 फीसदी से गिरकर 2.4 फीसदी हो गई है।

Source: MarkettimesTv

More will update soon!!

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Update on Nifty levels, Bank Nifty levels and Equity Pick of the day 14th March 2017

Nifty 8934/Sensex 28946/ Bank Nifty 20727

22 Advances / 29 Declines/ 0 Unchanged

SGX NIFTY – Hit All Time high 9198.00

With the poll results out for the five states, the market is expected to continue its upward march on the back of the strong mandate that the BJP has got in the politically crucial and sensitive state of Uttar Pradesh. The poll results were being keenly watched as a strong vote for the BJP is expected to give fillip to the ongoing policy reforms.

“The stock market rejoice on Monday with almost 250 points rally on the SGX Nifty, and likely to continue on Tuesday. This firmly puts the central government’s focus back on the reform path, which will enthuse market. This assumes significance as the GST Council is scheduled to meet on March 16. The last meet held on March 5 gave in-principle approval to two key draft laws.

This week would also see the listing of Music Broadcast, the company that runs Radio City. The company saw a huge interest from investors that led to the public issue getting subscribed close to 40 times. The segment reserved for high networth individuals was subscribed 110 times while that for institutional investors was subscribed 40 times.

While the shares of Avenue Supermarts, which manages the D Mart chain of supermarkets, will be listed on March 21, the week could see investor interest in shares of retail chains and even FMCG companies that see a large chunk of their sales through such modern retail stores.

The initial public offer of Avenue Supermarts was subscribed close to 105 times.

Eye on U.S. rates

The week would also see the U.S. Federal Reserve meeting on this week to decide on increasing interest rates. Interestingly, mortgage rates in U.S., especially those for 30-year home loans, have already risen to their highest level this year ahead of the Fed meeting. The markets also stand to gain from the bullish stance of overseas investors that have turned net buyers in the equity market. Incidentally, the Fed decision could also impact foreign liquidity in all emerging markets, including India.

Data shows that foreign portfolio investors (FPIs) have been net buyers at ₹9,629 crore in March after pumping in ₹9,902 crore in February. Meanwhile, domestic institutional investors (DIIs), that include banks and insurance companies, sold shares worth more than ₹4,000 crore in the previous week.

FII Activity (10th March 2017)

The FIIs as per Friday’s data were net buyers in equity and debt segments both, according to data released by the NSDL.

In equity segment, the gross buying was of Rs 5792.62 crore against gross selling of Rs 3855.46 crore. Thus, FIIs stood as net buyers of Rs 1937.16 crore in equities.

In the debt segment, the gross purchase was of Rs 755.56 crore with gross sales of Rs 652.67 crore. Thus, FIIs stood as net buyers of Rs 102.89 crore in debt.

Now what to expect ??

Nifty Future Levels 

We will expect gap up opening today. Hurdle and target intact at 9218---9248.

Today's Top Pick

Tata Steel

Tata Steel tumbled over 5 percent last week. The trend looks negative. Major supports are at ₹460-- ₹450. If unable to breach its support level of ₹460-- ₹450 then it can touch its resistance level of ₹500 again. Break and sustain above  ₹500 will take it to ₹540-₹550, which act as a crucial long-term resistance zone. 

Else if Tata Steel breaks below ₹450, it can touch ₹435-₹430. Further downside panic will see below ₹430 which is           unlikely to breach in near term. 

A strong trendline support is present around ₹415. which is likely to halt the fall. As such, an upward reversal is more                                    likely thereafter.                        

More will update soon!!

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Team IMV wishes you a very Happy & Colorful HOLI

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Updates on Bullion, Base Metals and Energy Levels 10thMarch. 17

Gold futures traded down on MCX as investors exited their positions in the precious metal on diminishing safe-haven demand due to an uptick in the US dollar ahead of the US non-farm payrolls data due later in the day. Traders keenly eyed the February non-farm payrolls data due today as a barometer of the US economy after Fed Chair Yellen said last week that the central bank was poised to lift rates provided jobs and inflation data held up.

Crude oil futures traded higher on MCX as investors and speculators extended their positions in the energy commodity but pressured by concerns that a global supply glut is proving stubbornly persistent. Data showed that crude stocks in the US, the world's top oil consumer, swelled by 8.2 million barrels last week to a record 528.4 million barrels. US drilling has picked up as producers planning to expand crude production in North Dakota, Oklahoma and other shale regions, while output has jumped in the Permian, America's largest oilfield.

Copper futures ended lower on Thursday on speculation that ongoing supply issues could be resolved shortly. BHP Billiton said it may try to restart production at Escondida copper mine in Chile using temporary workers once the strike surpasses 30 days. Further, another large build in London Metal Exchange (LME) copper stocks too added pressure to copper prices. Reports showed that copper stocks in LME-registered warehouses rose a further 38,775 tonnes on Wednesday. They have increased 126,575 tonnes, or 64 percent, this month. Meanwhile, investors are waiting for February non-farm payrolls, which is due later in the day. This data is the key indicator, which will provide hints as to whether the Federal Reserve will raise rates at its meeting next week.

Technical Level

Gold 

Support at 28225 and Resistance 28550

Looks weak and could touch its support level of 28225, Weekly close below 28225 will see more downside panic else could touch its resistance level of 28550 again.

Trade with levels only.

Silver 

Support at 40400 and Resistance 41000

Break and sustain below 40400 will take it to 40000--39800 mark, else could touch its resistance level of 41000.

Fresh buying can be initiated above 41000

Crude Oil

Weekly close below 3280 will see more downside panic till 3120---3050 and then to 2800 mark.

Hurdle intact at 3450---3520

Copper

Support at 378 and Resistance at 385

Break and sustain below 378 will take it to 373—369 and then to 365 mark else could touch its resistance level of 385 again.

Fresh buying can be initiated above 384.00

Major Economic Data

07:00 P.M Non-Farm Employment Change:  Previous 227K, Forecast 200k Actual –??

Impact - Increase in Non-Farm Employment Change – will have negative impact on bullion and positive impact on base metals and dollar index or vice – versa.

07:00 P.M Unemployment Rate:  Previous 4.8% Forecast 4.7%, Actual –??

Impact – Increase in Unemployment Claims – will have positive impact on bullion and negative impact on base metals and dollar index or vice – versa.

More will update soon!!

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Launched "BTST STBT calls pack in Equity Future Segment".

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Update on Nifty levels and Bank Nifty levels of the day 10th March 2017

Nifty 8972/Sensex 28929/ Bank Nifty 20721

27 Advances / 24 Declines/ 0 Unchanged

Indian benchmarks end a lacklustre session with modest cut; Nifty settles above 8900 mark

Indian benchmarks ended the range bound day of trade on a flat note with positive bias as investors remained cautious ahead of exit polls data for assembly elections in 5 states which will be released later in the day. Actual results will be announced on Saturday, and will help to shape the next two years of Modi’s government as it heads for the 2019 general election. Sentiments got some support after Prime Minister Narendra Modi express the hope of reaching a breakthrough on the goods and services tax (GST) bill in the Budget session of Parliament that resumed after a month-long break on Thursday. The government is looking to roll out the new tax regime from July 1. Further, some support also came with the report that Finance Minister Arun Jaitley will chair a high-level meeting with Reserve Bank officials on Friday to address the issue of non-performing assets in the banking sector. The meeting, which will also be attended by Financial Services Secretary Anjuly Chib Duggal, will discuss ways of resolution of stressed assets urgently. However, gains remained capped with the ICRA’s report that India's current account deficit is expected to see a 50 per cent rise to $30 billion in 2017-18 from $20 billion in the current financial year on higher oil and gold imports. Since 2013-14, a combination of lower crude oil and gold imports has helped curtail India's current account deficit, absorbing the impact of declining merchandise exports, services trade surplus or remittances in some of these years.

On the global front, Asian equity markets ended mostly in red on Thursday as investors turned nerves after a strong private payroll report from the United States made a rate hike by the Federal Reserve a near certainty. U.S. private sector job growth recorded its biggest increase in more than a year in February amid a surge in construction and factory hiring, suggesting the economy stays on solid ground.  Besides, lower commodity prices and mixed inflation data out of China also dampened investor sentiment. While copper hovered near a one-month low on selling triggered by a firmer dollar, oil prices recovered some lost ground in the early deals after plunging more than 5% overnight to their lowest levels this year, on data showing production cuts from OPEC and other exporters have not been enough to reduce US supplies. Meanwhile, European markets were trading in red as investors await cues from the ECB policy meeting due later in the day.

Back home, after getting weak start, the local benchmarks traded below neutral line for most part of the session, though some lower buying in final hour of trade helped the indices to end session in positive territory.

FII Activity (09th March 2017)

The FIIs as per Thursday’s data were net sellers in equity segment, while there were no buying and selling witnessed in debt segment, according to data released by the NSDL.

In equity segment, the gross buying was of Rs 0.25 crore against gross selling of Rs 0.32 crore. Thus, FIIs stood as net sellers of Rs 0.07 crore in equities.

Now what to expect next??

Nifty Future Levels 

Support at 8870 and Resistance at 8980—9050

Trading in range, either side breakout with volume will decide further.

Wait for confirmation

Bank Nifty Future Levels

Support at 20500 and resistance at 21025

Too trading in range, either side breakout with volumes will decide further traders can trade in range with strict stop loss.

Trade in a range with levels only.

More will update soon!!

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We had recommended Selling in Copper at around 402-405 for initial target of 376..... Since then COPPER is moving towards south direction ⬇⬇... Today it made a fresh low of 379.35✔✔ (almost near to our first target of 376, Profit of almost 25++ Points)

Have you missed that report??🤦‍♂

Then here is the link of same. Click on the link to View/ Download your FREE copy of same http://docdro.id/KRPyct3

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Updates on Bullion, Base Metals and Energy Levels 09th March. 17

Gold futures declined on MCX as investors exited their positions in the precious metal on diminishing safe-haven demand due to an uptick in the US dollar ahead of the US non-farm payrolls data on Friday. Traders keenly eyed the February non-farm payrolls data due tomorrow as a barometer of the US economy after Fed Chair Yellen said last week that the central bank was poised to lift rates provided jobs and inflation data held up.

Crude oil futures edged lower on MCX as investors and speculators exited their positions in the energy commodity after US government data revealed a weekly jump in crude supplies that lifted total inventories to another record. Crude inventories in the United States, the world's top oil consumer, surged last week by 8.2 million barrels, handsomely beating forecasts of a 2 million barrel build. The plunge came even as representatives from the Organization of the Petroleum Exporting Countries (OPEC) this week touted high compliance among the output-cut agreement participants since the start of the year.

Copper futures ended lower on Wednesday to a one-month low on selling triggered by a higher dollar, lower imports of the metal by top consumer China and rising inventories. Growing expectations the US Federal Reserve will hike rates next week have boosted the US currency, which when it rises makes dollar-denominated metals more expensive for holders of other currencies. Copper imports to China totalled 340,000 tonnes in February, down 10.5 percent from January and down 19 percent from a year ago. Stocks of copper in LME approved warehouses at 288,525 tonnes have nearly doubled since last Thursday. However, mine disruptions in Chile, Peru and Indonesia are supporting prices.

Technical Level

Gold 

Support at 28480 and Resistance 28550

Break and sustain below 28480 will take it to 28380---28330 and 28225 mark else could touch its resistance level of 28550 again.

Fresh buying can be initiated above 28550 mark

Trade with levels only.

Silver 

Support at 41000 and then 41350.

Looks weak and could touch its support level of 41000. Break and sustain below 41000 will take it to 40700---40450 mark else could touch its resistance level of 41350 again

Fresh buying can be initiated above 41350 mark.

Crude Oil

Crude oil forming Wedge patter on daily chart.

Support at 3280. 

Weekly close below 3280 will see more downside panic till 3120---3050 and then to 2800 mark.

Hurdle intact at 3350---3420.

Copper

Support at 378 and Resistance at 384

Break and sustain below 378 will take it to 373—369 and then to 365 mark.

Revise stop loss of 384

Trade with levels only

Major Economic Data

07:00 P.M Unemployment Claim:  Previous 223K Forecast 239K, Actual –??

Impact – Increase in Unemployment Claims – will have positive impact on bullion and negative impact on base metals and dollar index or vice – versa.

09:00 P.M Natural Gas Storage:  Previous 7B, Forecast -59B, Actual –??

Impact – Increase Natural Gas Storage – will have negative impact on natural gas prices or vice versa.

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News Update:Oil prices turned lower during European morning hours

Oil prices turned lower during European morning hours on Thursday, with the U.S. benchmark falling below the $50-level for the first time since the start of December after data showed another massive increase in U.S. crude supplies.

Futures have been trading in a narrow $5 range around the low-to-mid-$50s over the past three months as sentiment in oil markets has been torn between rising stockpiles and increased shale production in the U.S. and hopes that oversupply may be curbed by output cuts announced by major global producers.

OPEC and non-OPEC countries made a strong start to lowering their oil output by almost 1.8 million barrels per day by the end of June.

Kuwait is scheduled to host a ministerial meeting on March 26 comprising both OPEC and non-OPEC members to review compliance with the output agreement, the second such meeting since the deal was reached.

Oil ministers of Saudi Arabia, Russia, Kuwait, Oman, Algeria and Venezuela will attend the meeting, along with the OPEC secretary general.

More will update soon!!

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