DAILY MCX NEWSLETTER

18-OCT. -2013

THE EQUICOM PROFIT UPDATE: PLEASE CLOSE YOUR POSITION IN COPPER, OUR SL TRIGGERED www.TheEquicom.com 09200009266

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BULLION

BASE METAL

ENERGY

According to HSBC, since the governments closure, key economic indicators have not been released and so far its unclear when the data might be released. FOMC meeting result may be bullish for gold. Here the odds are high that the central bank will stand aside once again, if for no other reason than to make sure that it does administer yet another needless shock to the system, said Edward Meir, commodities consultant at INTL FCStone. The few economic indicators that have been released are weaker and there is talk that the Fed may not do anything in the fourth quarter at all and perhaps wait until the first half of 2014 before making any kind of move, he added. That would support gold prices, but Meir added that gold must overcome other headwinds, such as sluggish investment and physical demand.

India copper futures was seen trading negative on Thursday amid weak international cues. The base metal is expected to trade further down during intraday trade. Intra-day support for copper November delivery on India's Multi Commodity Exchange (MCX) is seen at 445, 441 and 435 levels while resistance is seen at 456. Traders may sell around 446 with the stop loss of 450 for the target of 441. Earlier, in the global market, copper futures recorded an up-tick and jumped a two week high after US law makers passed an accord on the US debt. Copper for delivery in three months on the London Metal Exchange (LME) rose by 0.6% to $7,300 per ton, the highest since October 3 this morning.

Technically, support for MCX crude oil October delivery is seen at 6050 and 6000 levels while resistance is seen at 6190 and 6250 levels. Traders are advised to sell around 6120 with the stop loss of 6250 for the target of 6050, according to Amit Nagar, Research Analyst at The Equicom. MCX crude oil is expected to witness buying sentiments in the evening session as US Budget and Debt deadlock temporarily resolved. Quarter-on-quarter, the quantity bought in the retail industry increased by 1.5%. This is the largest quarter-on-quarter rise since March 2008 when the economy as a whole was at its peak, before the economic downturn.

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BULLION
GOLD (5 DEC.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : -CONSOLIDATE : - 29675, 29800 : - 28320, 28000 : - SELL ON HIGHS

SILVER (5 DEC.)
OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 48400, 48850 : - 47540, 47050 : - SELL ON HIGHS

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ENERGY
CRUDEOIL (21 OCT.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 6190, 6260 : - 6060, 6000 : - SELL ON HIGHS

NATURAL GAS (28 OCT.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 232.00, 237.00 : - 228.00, 225.00 : - SELL ON HIGHS

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BASE METAL

COPPER (29 NOV.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : -452.00, 456.00 : - 445.00, 441.00 : - SELL ON HIGHS

LEAD (31 OCT.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 132.25, 133.60 : - 130.65, 129.80 : - SELL ON HIGHS

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ZINC (31 OCT.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 116.70, 117.35 : - 115.30, 113.90 : - SELL ON HIGHS

ALUMINUM (31 OCT.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 111.90, 112.70 : - 110.00, 109.00 : - SELL ON HIGHS

NICKEL (31 OCT.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 870.00, 890.00 : - 843.00, 830.00 : - SELL ON HIGHS

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GOLD SILVER COPPER CRUDE OIL NATURAL GAS PALLADIUM PLATINUM

1316.41 21.774 03.301 100.75 03.756 733.50 1431.00

USDINR EURUSD USDJPY USDCHF GBPUSD USDCAD

61.1300 01.3663 98.1100 00.9034 01.6144 01.0295

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