MCX DAILY LEVELS

DAILY

EXPIRY

R4

R3

R2

R1

PP

S1

S2

S3

S4

ALUMINIUM

31 AUG 2016

31975

91783

31591

31497

31399

31305

31207

31015

30823

COPPER

31 AUG 2016

330

327

324

323

321

320

319

316

313

CRUDE OIL

19 AUG 2016

3380

3345

3310

3289

3275

3254

3240

3205

3170

GOLD

05AUG 2016

31591

31478

31365

31292

31252

31179

31139

31026

30913

LEAD

31 AUG 2016

126

126

126

126

125

125

125

125

124

NATURALGAS 26 AUG 2016

194

188

182

179

176

172

170

164

158

NICKEL

31 AUG 2016

725

714

703

699

692

688

681

670

659

SILVER

05 SEP 2016

49860

48248

46636

45581

45024

43969

43412

41800

40188

ZINC

31 AUG 2016

159

157

155

154

153

152

151

150

148

MCX WEEKLY LEVELS

WEEKLY

EXPIRY

R4

R3

R2

R1

PP

S1

S2

S3

S4

ALUMINIUM

31 AUG 2016

166

161

157

155

153

151

148

144

140

COPPER

31 AUG 2016

340

334

327

325

321

318

314

308

301

CRUDE OIL

19 AUG 2016

4001

3736

3471

3362

3206

3097

2941

2676

2411

GOLD

05AUG 2016

32361

32043

31725

31565

31407

31247

31089

30771

30453

LEAD

31 AUG 2016

136

133

129

128

126

124

122

119

115

NATURALGAS

26 AUG 2016

200

192

184

179

176

171

168

160

152

NICKEL

31 AUG 2016

748

729

710

702

691

683

672

653

634

SILVER

05 SEP 2016

50815

49145

47475

46459

45805

44789

44135

42465

40795

ZINC

31 AUG 2016

166

161

157

155

153

151

148

144

140

Monday, 22 August 2016

WEEKLY MCX CALL

BUY NATBUY GOLD OCT ABOVE 31571 TGT 31764 SL 31393
SELL ZINC AUG BELOW 152 TGT 150 SL 154URAL GAS AUG ABOVE 178 TGT 186 SL 173

PREVIOUS WEEK CALL

BUY NATURAL GAS AUG ABOVE 178 TGT 186 SL 173 - CLOSED AT 177.30

FOREX DAILY LEVELS

DAILY

EXPIRY

R4

USDINR

29 AUG 2016

67.95

EURINR

29 AUG 2016

GBPINR
JPYINR

R3

R2

R1

PP

S1

S2

S3

S4

67.75 67.55

67.35

67.15

66.95

66.75

66.55

66.35

76.70

76.50 76.30

76.10

75.90

75.70

75.50

75.30

75.10

29 AUG 2016

88.80

88.60 88.40

88.20

88

87.80

87.60

87.40

87.20

29 AUG 2016

67.75

67.55 67.30

67.10

66.90

66.75

66.55

66.35

66.05

FOREX WEEKLY LEVELS

DAILY

EXPIRY

R4

R3

R2

R1

PP

S1

S2

S3

S4

USDINR

29 AUG 2016

68.20

67.90

67.60

67.30

67

66.70

66.40

66.10

65..80

EURINR

29 AUG 2016

77

76.70

76.40

76.10

75.80

75.50

75.20

74.90

74.60

GBPINR

29 AUG 2016

89.20

88.90

88.60

88.30

88

87.70

87.40

87.10

86.80

JPYINR

29 AUG 2016

68.20

67.85

67.50

67.15

66.80

66.55

66.20

64.95

64.55

WEEKLY FOREX CALL

SELL JPYINR AUG BELOW 66.48 TGT 65.92 SL 67.01
BUY GBPINR AUG ABOVE 88.20 TGT 89 SL 87.60

PREVIOUS WEEK CALL

SELL JPYINR AUG BELOW 66.50 TGT 66 SL 67- NOT EXECUTED

 NCDEX DAILY LEVELS

DAILY

EXPIRY

SYOREFIDR

20-AUG-2015

SYBEANIDR

20-AUG-2015

RMSEED

R4

R3

R2

R1

PP

S1

S2

S3

S4

669

664

661

660

657

655

651

646

3591

3548

3505

3477

3462

3434

3419

3376

3333

18-SEP-2015

4988

4922

4856

4813

4790

4747

4724

4658

4592

JEERAUNJHA

18-SEP-2015

19530 19155

18780

18545

18405 18170 18030 17655

17280

GUARSEED10

20-OCT-2015

3829

3769

3709

3678

3649

3619

3589

3529

3469

TMC

20-SEP-2015

7922

7856

7790

7754

7724

7688

7658

7592

7526

DATE

674

NCDEX WEEKLY LEVELS

WEEKLY

EXPIRY

R4

R3

R2

R1

PP

S1

S2

S3

S4

SYOREFIDR

20-AUG-2015

719

700

681

672

662

653

643

624

605

SYBEANIDR

20-AUG-2015

3961

3807

3653

3563

3499

3409

3345

3191

3037

RMSEED

18-SEP-2015

5118

5021

4924

4883

4827

4786

4730

4633

4536

JEERAUNJHA

18-SEP-2015

20748 19988

19228

18902

18468 18142 17708 16948

16188

GUARSEED10

20-OCT-2015

4183

4026

3869

3792

3712

3635

3555

3398

3241

TMC

20-SEP-2015

8815

8457

8099

7909

7741

7551

7383

7025

6667

DATE

WEEKLY NCDEX CALL

SELL RM SEED SEP BELOW 4770 TGT 4669 SL 4871
BUY SOYABEAN 3525 TGT 3592 SL 3459

PREIOUS WEEEK CALL

BUY RM SEED SEP ABOVE 4870 TGT 4950 SL 4819 - NOT EXECUTED

MCX - WEEKLY NEWS LETTERS

GLOBAL UPDATE
Gold prices edged lower in European trade on Wednesday, reversing overnight gains as market
players looked ahead to minutes of the Federal Reserves July policy meeting, which many feared
could be more hawkish than the statement. Gold for December delivery on the Comex division of the
New York Mercantile Exchange shed $ 9.95, or 0.73%, to trade at $1,346.95 a troy ounce by 3:05 AM
ET, after rising $ 9.40, or 0.7%, on Tuesday. Investors will be focusing on minutes of the Federal
Reserves most recent policy meeting due at 2:00 PM. for further clarity on the timing of the next U.S.
rate hike.
Gold edged back above $1,350 an ounce on Thursday as the dollar gave up earlier gains against a
currency basket, with uncertainty over the outlook for U.S. monetary policy continuing to underpin the
metal. Palladium slid, however, after surging more than 4 percent in the previous session in a rally
triggered by a wave of short-covering after recent hefty gains. The metal is testing support at the $700
an ounce level.
Glencore has shelved plans to sell a copper mine in Chile that was expected to fetch about $500
million, after failing to achieve a high enough price, according to people familiar with the situation.
Along with other big mining companies, Glencore has been seeking to offload a range of assets to
reduce debt following a commodities price crash, but a rally on raw materials markets and in the value
of share prices of mining companies this year has taken away the need for urgent sales at any price.
Extending gains for the second day, nickel prices advanced by 0.61% to Rs 689.30 per kg in futures
trading today as participants engaged in enlarging their positions, tracking a firm trend at spot market
on rising demand from consuming industries.At the Multi Commodity Exchange, nickel for delivery in
August month gained Rs 4.20, or 0.61% to Rs 689.30 per kg in business turnover of 1,893 lots.
Taking weak cues from overseas markets, silver prices moved down by 0.22% to Rs 46,232 per kg
in futures trade today as participants cut down their bets.At the Multi Commodity Exchange, silver for
delivery in September declined by Rs 104 or 0.22% to Rs 46,232 per kg in business turnover of 646
lots.Likewise, the white metal for delivery in December contracts was trading lower by Rs 94 or
0.20% to Rs 47,353 per kg in 18 lots.
Crude oil held gains in Asia on Friday with Brent comfortably above $50 a barrel as an output
freeze by key producers was said to be gaining traction, though vast global oversupply continues to
hang over the market. On the New York Mercantile Exchange, WTI crude for September delivery
gained 0.27% to 48.35 a barrel. On the Intercontinental Exchange, Brent crude for October delivery
inched up 0.06% to $50.92 a barrel. Overnight, Brent crude futures surged above $50 for the first time
since Fourth of July, while hitting its highest level in nearly two months, as global oil prices continued
to rally on the prospects that major producers could reach a deal to stabilize worldwide energy markets
at a closely-watched meeting next month.

 GOLD
Gold prices advanced for a second day by gaining Rs 55 to Rs 31,130 per 10 grams at the bullion
market on Tuesday, tracking a firming trend overseas amid increased buying by Jeweller s to meet
rising demand from retailers at domestic spot market. Silver also recovered by Rs 500 to Rs 47,000 per
kg due to increased off-take from coin makers and other consuming industries.
Gold cut its gains on Tuesday after mixed US economic data failed to give clarity on the prospects for
a US interest rate rise this year and the US dollar pared losses from a seven-week low. US consumer
prices were unchanged in July as the cost of gasoline fell for the first time in five months and
underlying inflation moderated, while US housing starts unexpectedly climbed and industrial
production rose more than forecast in the same month.
Gold imports more than halved to $ 4.97 billion in the first four months of the current fiscal, which is
expected to keep a lid on the current account deficit. The sliding prices of the precious metal in both
global and domestic markets are seen as a contributory factor for the 52.5 per cent decline. Gold
imports stood at $ 10.47 billion in April-July of 2015. The in-bound shipments contracted for the sixth
consecutive month in July by 63.65 per cent to $1.07 billion, according to Commerce Ministry data.
The global economic crisis will continue to drive the demand for gold and silver worldwide. Bullion
experts at the India International Gold Convention organised by Foretell Business Solutions Limited
unanimously expressed that global demand will continue to remain strong, and price higher. It is also
expected that gold demand in India, which was declined in first half of calendar year 2016, will
increased in second half of the year. "Demand is expected to come back and price discounts expected
to narrow form October. The overall demand is expected to remain around 380 to 400 tonnes for
second half of calendar 2016 on account of increase in farmers' incomes, salary arrears to central
government employees under 7th Pay Commission and festive demand," said Debajit Saha, head of
bullion research at Foretell Business Solutions Pvt Ltd.Gold demand remained extremely poor in the
first half of current calendar year. Market had entered into dip discount, impacting official supply of
gold. Discount increased the moment government announced levy of the excise duty, which prompted
jewellers to go on a long strike. Three factors pulled demand down. High import duty incentivized
parallel imports. Announcement of excise duty and the subsequent strike, lead to destocking at
jewellers end. Last, unanticipated increase in price of gold in early 2016, pushed domestic prices and
drove demand out further, besides increasing scrap flows.
Physical gold demand in Asia improved modestly this week as consumers returned to the market ahead
of upcoming festivals in India and China when demand is usually high. In India, the world's second
biggest gold consumer, discounts narrowed as jewellers started buying for the festive season. Dealers

were offering a discount of up to $52 an ounce over the global spot benchmark XAU= , down from up
to $60 last week.
"Large jewellers have started building inventory for the upcoming festival season. In coming weeks,
demand is expected to pick up further if prices remain stable at the current level," said a Mumbaibased bullion dealer with a global bank. India's gold demand may rise in the second half of 2016 after
falling to the lowest in seven years in the first half as monsoon rains spur rural demand during the peak
festive season, the World Gold Council said on Aug. 11. of gold demand in India comes from villages,
where jewellery is a traditional investment.
CRUDE OIL
Crude futures rose to fresh 1-month highs on Tuesday, ahead of the American Petroleum Institute's
weekly inventory report, as investors continued to weigh the possibility that discussions between
leading OPEC producers at an energy forum next could help stabilize global oil prices. On the New
York Mercantile Exchange, WTI crude for September delivery traded between $ 45.34 and $ 46.61 a
barrel before closing at $ 46.58, up 0.83 or 1.84% on the session. Since dipping below $40 a barrel
earlier this month, WTI crude has rallied more than 17% over the last two weeks. On the
Intercontinental Exchange, brent crude for October delivery wavered between $ 47.90 and $ 49.33 a
barrel, before settling at $ 49.32, up 0.95 or 1.95% on the day. At session-highs, brent futures reached
their highest level since July 7.
Oil prices fell in Asia on Wednesday in continued reaction to U.S, industry estimates of stockpiles last
week that showed gasoline inventories unexpectedly higher even as crude stocks fell. On the New
York Mercantile Exchange, WTI crude for September delivery fell 0.52% to $46.34 a barrel. On the
Intercontinental Exchange, Brent crude for October delivery dropped 0.73% to $48.87 a barrel. The
American Petroleum Institute reported a bigger-than-expected 1 million-barrel drop in U.S. crude
supplies that was unexpected, sources said, but gasoline supplies jumped 2.2 million barrels for the
week ended Aug. 12, a worrying demand signal well ahead of the end of the summer driving season.
President Nicolas Maduro said on Tuesday that Venezuela had struck $4.5 billion in mining deals with
foreign and domestic companies, part of plan to lift the OPEC nation's economy out of a deep
recession causing food shortages and social unrest. Maduro said the deals were with Canadian, South
African, U.S. and Venezuelan companies, but did not specify whether contracts had been signed or just
initial agreements.
The socialist leader, whose popularity hit a nine-month low in a survey published this week, said he
expected $20 billion in mining investment contracts to be signed in coming days and that 60 percent of
the income Venezuela received would be spent on social projects. Maduro hit back at critics from the
left who accuse him of riding roughshod over environmental rules and indigenous rights in the
Orinoco mineral belt in Venezuela's south in his rush to shore up his government's precarious finances.

The price of oil is jumping for a third consecutive day on after some reassurance for the markets that
oil's biggest players are working to try and stabilise the world's most important commodity. Both major
oil benchmarks are up by just less than 1% in early trading on Monday, with Brent crude, the
international benchmark higher by 0.94% to $47.41 per barrel. US West Texas Intermediate crude is up
by the same margin to trade at $44.91.
COPPER
Copper eased by 0.25 per cent to Rs 320.40 per kg in futures trade today today as traders trimmed
positions amid sluggish demand at the domestic spot markets. At Multi Commodity Exchange, copper
for delivery in August month declined by 80 paise, or 0.25 per cent to Rs 320.40 per kg in business
turnover of 870 lots. Similarly, the metal for delivery in November contracts shed 70 paise, or 0.21 per
cent to Rs 326.80 per kg in 26 lots.
Copper futures rose 0.48 per cent to Rs 326.95 per kg today as participants enlarged their positions,
taking positive cues from overseas markets and pick-up in spot demand. At the Multi Commodity
Exchange, copper for delivery in current month contract was trading higher by Rs 1.55 or 0.48 per cent
to Rs 326.95 per kg with a turnover of 1,469 lots.
Amid a firm global trend and pick up in demand at domestic spot market, copper prices traded higher
by 0.16% to Rs 317.60 per kg in futures trade today as speculators enlarged positions. At the Multi
Commodity Exchange, copper for delivery in August traded higher by 50 paise or 0.16% to Rs 317.60
per kg in business turnover of 323 lots.

NCDEX - WEEKLY NEWS LETTERS

GLOBAL UPDATE
National Commodity & Derivatives Exchange today said its cotton contract has performed well
registering a jump of 338 per cent at Rs 1,376.71 crore for the quarter till March 21, 2016. "Our cotton
contract has performed well and traded value jumped by 338 per cent at 1,376.71 crore for the quarter
till March 21, 2016 as against Rs 313.99 crore in the quarter ended December 2015," NCDEX said in
a statement here. As prices of pulses continue to rule high, the government on Tuesday decided to
further import 1 lakh tonnes of chana and masoor dals to boost domestic supply and check price rise.A
decision in this regard was taken in the meeting of an inter-ministerial committee, headed by
Consumer Affairs Secretary Hem Pande in New Delhi.

Sowing of kharif crops in the first week of August remained on track as rains continued to be plentiful
and acreage under most major crops such as rice, pulses, coarse cereals and oilseeds posted a rise
compared to the previous year. Total acreage under kharif crops till August 5 this year at 885.29 lakh
hectares compared to 841.65 lakh hectare sowed in the same period last year. Cotton was the only crop
where acreage declined considerably to 96.48 lakh hectare till August 5 this year compared to 105.68
lakh hectare in the same period last year. Many farmers sowing cotton switched to other crops because
of last years damage to the But cotton crop by white flies in Punjab and Haryana. Pulse acreage
continued to be high with total acreage in the period rising to 121.10 lakh hectare. Rice acreage
increased to 281.95 lakh hectare. Sowing of coarse cereals till August 5 rose to 163.77 lakh hectare
compared to 158.66 lakh hectare in the same period of the previous year. Oilseeds acreage too gained
at 167.58 lakh hectare. While sugarcane sowing increased marginally from 46.87 lakh hectare to 46.11
lakh hectare in the same period last year, jute sowing edged down to 7.55 lakh hectare to 7.73 lakh
hectare.
Agri commodity prices have started softening after reports of above normal monsoon so far this
season, raising the prospects for better kharif crops. Government data showed 11 per cent decline in
the modal prices of moong dal this month; it currently sells in the wholesale market at Rs 80 a
kg.Masoor dal also reported a decline in its prices by 5.3 per cent at Rs 71 a kg. Urad dal and gram dal
also posted 7.7 per cent and seven per cent fall in their modal prices at Rs 133.83 a kg and Rs 93 a kg,
respectively. Tur dal, however, stabilised at Rs 130 a kg as on August 16.
Jeera prices rose 0.75% to Rs 18,160 per quintal in futures trading on Wednesday as participants raised
their bets, tracking a firm trend at spot market on rising domestic as well as exports demand. Further,
tight stocks position following lower supply from the producing belts too fuelled the uptrend. At the
National Commodity and Derivatives Exchange, jeera for delivery in August contracts rose by Rs 135
or 0.75%, to Rs 18,160 per quintal with an open interest of 273 lots.
SOYABEAN
Soyabean futures traded lower by Rs 35 to Rs 3,734 per quintal today after traders trimmed their
positions, tracking a weak trend overseas. At the National Commodity and Derivative Exchange,
soyabean for delivery in far-month February month slipped by Rs 35, or 0.93 per cent to Rs 3,734 per
quintal, clocking an open interest of 2,100 lots. In a similar manner, soyabean for delivery in mostactive October month receded by Rs 20, or 0,56 per cent to Rs 3,575 per quintal having an open
interest of 53,530 lots.
Majority of oils in Indore mandis have been witnessing an uptrend on strong global cues and improved
domestic demand with soya refined being quoted at Rs.650-55, while soya solvent ruled at Rs. 615620 up 15. Cotton oil also ruled higher at Rs. 700 up 20 from last week. Similarly, palm oil also gained
higher at Rs. 665 up 40, while groundnut oil ruled at Rs.1,470-75 1,440-60. Amid negligible arrival,

mustard seeds ruled flat at Rs. 4,250-4,300 a quintal, while raida was quoted at Rs.4,200-50. Plant
deliveries of mustard oil for Jaipur line were also quoted lower at Rs. 5,060-65.
Rise in duty on imported oils by the Centre lifted soya oil in Indore mandis. In private trading, soya
refined ruled at Rs.635-40, while soya solvent rose to Rs.600-605. Soyabean remained flat Rs.3,700
on subdued demand, while plant deliveries also ruled steady at Rs.3,750. Given enthusiastic crop
report, rally in soybean appears unlikely in the coming days. Soyameal ruled firm at Rs. 33,00035,000 a quintal on improved domestic demand.

CHANA
The active chana futures hit the upper circuit to close at a record high of Rs 5,543 a quintal on Friday
despite the arrival season having got under way. Brokers and traders attributed the jump to production
expected to be two-fifths below last year's 87 lakh tonnes. Traders were also comforted by fears of a
ban in chana futures getting allayed by a regulatory clarification. Rather, the regulator directed
NCDEX, which offers chana futures, to raise the margin on buyers to 45% from 20% effective April
22. So despite the special cash margin kicking in on Friday, chana hit a record high.

TURMERIC
At Erode market, finger prices traded at Rs.8500ql and bulb prices at Rs.8100/ql and arrivals were at
2198 bags. Sowing has continued to progress on a firm note in Telangana and Andhra Pradesh. Sowing
coverage as on 17th Aug 2016 in Telangana was at 44919 hec, higher by 15% y/y while it is higher by
8% y/y in Andhra Pradesh. The prices of turmeric are moving sideways to down due to mixed
fundamentals of good sowing acreage coupled with declining supplies. The Sep16 delivery contract
on NCDEX closed 0.18% higher to settle at Rs 7,694 per quintal. The demand from the industrial may
support prices. Turmeric acreage in Telangana as on 17 Aug was up 15.4 % at 45,000 hectares as
compared to 39,000 hectares last year. Sowing of turmeric is over in 93 per cent of normal area and up
by 110 % of normal sowing area. As per dept of commerce data, turmeric exports in April- May 2016
increased by 31% compared to last year at 21,256 tonnes. In 2015-16, 85,426 tonnes exported
compared to 90,738 tonnes in 2014-15. Major export destinations in 2015-16 are Iran, Malaysia, UAE,
USA and Srilanka. The arrivals in the main physical markets such as Nizamabad, Duggirala (AP),
Salem, Erode and Sangli reported decreasing. There is expectation of lower arrivals and good
upcountry demand may lend support in coming weeks.

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