DAILY MCX NEWSLETTER

18-DEC. -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

India Government drive to reduce gold consumption to discourage gold imports, reduce Current Account Deficit (CAD) also caused increase in smuggling activity and reduced gold jewellery exports. Alarmed by the huge increase in gold imports that cause foreign exchange outgo of $56.8 bn in 2012-13, India government hiked import duty on gold to 10% in different stages from a low rate of 2%. A variety of measures were taken by Finance Ministry and Reserve Bank of India (RBI) to curb consumption of the yellow metal including the introduction of the stipulation that one fifth of the imported bullion had to be exported in value added form. The measures to discourage imports led to fall in gold and silver import value to $25.5 bn in the first eight months of 2013-14 compared to $33.5 bn last fiscal. However, large number of smuggling incidents have been reported since May at various international airports in the country.

Copper surplus is expected to widen and outpace demand growth in 2014, according to International Copper Study Group (ICSG). ICSG pointed out that surplus is expected to grow from 387,000 tons this year to 632,000 tons in 2014.Global copper demand is expected to increase by 4.5% in 2014 as economic recovery gains steam internationally. Refined copper production to rise 5.5% to 22.1 mn tons next year on China production gains. In 2013- it grew 3.9% to 20.9 mn tons. Projects deferred during financial crisis will go onstream in 2014-15 increasing mine output World mine output to surge 11.4% to 18.6 mn tons in 2014. Copper witnessed some uptrend in LME this week climbing to $7159 a ton on weak dollar, China demand for the metal although the metal has fallen close to 10% year-to-date.It broke below $7,000 a tonne in mid-November after holding in a $7,000$7,400 range since August.

The inflation surge in November was caused by rise in prices across categories- fuel, food articles, non-food articles and manufactured products. "Momentum indicators suggest that while inflation in primary articles is likely to moderate in the coming months, inflation in manufactured products could accelerate further. Momentum in manufactured product categories - food, textiles, basic metals, alloys and metal products, shows an upward trend, partly reflecting the adverse impact of the weak rupee on imported inflation," according to CRISIL Research. With a weak rupee and rising fuel prices, margins of producers are under stress. The extent of rising input costs being passed on to consumers is likely to rise further, especially if household consumption begins to improve, following a normal monsoon, and a consequent increase in farm incomes. Given the rising inflation - both at the retail and wholesale level, the RBI with inflation control as its prime objective, is set to hike the repo rate once again later this week.

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BULLION
GOLD (5 FEB.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : -CONSOLIDATE : - 29000, 29200 : - 28400, 28150 : - SELL ON HIGH

SILVER (5 MAR.)
OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 45100, 45500 : - 44300, 44000 : - BUY ON DIPS HIGH

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ENERGY
CRUDEOIL (20 JAN.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 6100, 6140 : - 6000, 5960 : - SELL ON HIGH

NATURAL GAS (26 DEC.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : -CONSOLIDATE : - 266.50, 270.50 : - 260.00, 256.00 : - BUY ON DIPS

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BASE METAL

COPPER (28 FEB.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : -462.50, 466.00 : - 455.00, 452.00 : - SELL ON HIGH

LEAD (31 DEC.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 134.00, 135.00 : - 131.50, 130.50 : - SELL ON HIGH

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ZINC (31 DEC.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 124.00, 125.00 : - 121.00, 119.50 : - SELL ON HIGH

ALUMINUM (31 DEC.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 110.00, 111.00 : - 108.80, 107.00 : - SELL ON HIGH

NICKEL (31 DEC.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 875.00, 880.00 : - 861.50, 856.00 : - BUY ON DIPS

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GOLD SILVER COPPER CRUDE OIL NATURAL GAS PALLADIUM PLATINUM

1233.00 19.904 03.310 97.65 04.304 700.50 1351.80

USDINR EURUSD USDJPY USDCHF GBPUSD USDCAD

61.9450 01.3772 103.010 00.8849 01.6283 01.0608

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