DAILY MCX NEWSLETTER

24 - JAN. JAN.-2014 2014

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BULLION:
The price of gold is gravitating around $1,200/oz, so there's a substantial difference. Looking at the global picture. Yes, the price of gold has gone down, but it's approaching a floor of production costs. By midyear the price of gold will be higher. General market sentiment has obliged me to remove or decrease substantially my exploration goodwill, which was a proxy of the quality of the teams, the quality of the projects and the general market sentiment.

BASE METAL:
China's metal ores and concentrate imports rose sharply in 2013 with copper concentrate, bauxite and nickel bearing imports hitting all time highs, according to Barclays Research. China's processing industry continued to expand and domestic producers built stocks to ensure against shortages due to factors such as the Indonesian ban on ore exports, Barclays said.

ENERGY:
Central Electricity Regulatory Commission in its draft guidelines for 2014-2019 has changed the basis for calculating incentives and disincentives and this could impact the return on equity earned by thermal-based central generating stations. However, positives with respect to water availability and operations and maintenance could partly mitigate the impact. As these are draft guidelines, a conclusive view will emerge post completion of the consultation process currently underway and the finalisation of guidelines.

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BULLION

GOLD (5 FEB.)
OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 29500, 29700 : - 28150, 28900 : - SELL ON HIGH

SILVER (5 MAR.)
OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 45200, 45500 : - 44500, 44000 : - SELL ON HIGH

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ENERGY

CRUDEOIL (19 FEB.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - BULLISH : - 6150, 6200 : - 6030, 5950 : - BUY ON DIPS

NATURAL GAS (28 JAN.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - BULLISH : - 300.00, 308.00 : - 295.00, 290.00 : - BUY ON DIPS

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BASE METAL

COPPER (28 FEB.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 456.00, 459.30 : - 451.00, 448.00 : - SELL ON HIGH

LEAD (31 JAN.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 134.00, 135.00 : - 132.00, 131.00 : - SELL ON HIGH

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ZINC (31 JAN.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 127.70, 128.50 : - 126.00, 125.00 : - SELL ON HIGH

ALUMINUM (31 JAN.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 108.00, 109.50 : - 106.50, 105.50 : - SELL ON HIGH

NICKEL (31 JAN.)

OUTLOOK:
TREND RESISTANCE SUPPORT STRATEGY : - CONSOLIDATE : - 890.00, 875.00 : - 915.00, 930.00 : - SELL ON HIGH

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GOLD SILVER COPPER CRUDEOIL PALLANDIUM PLATINUM

1259.56 20.012 3.297 97.54 746.30 1456.20

USDINR EURUSD USDJPY USDCHF GBPUSD USDCAD

62.1800 01.3683 103.436 00.8987 01.6632 01.1106

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