CAPITAL STROKE COMMODITY UPDATE 19 MAY 2014 : MCX ZINC

ZINC: - CONSOLIDATE STRATEGY BUY ON DIP R2-125 R1-123 S1-120 S2-118 

Zinc futures slumped in the domestic market on Friday as investors and speculators exited positions in the industrial metal amid weak physical demand for zinc in the domestic spot market. An unexpected dip in consumer confidence in the US signaled a faltering recovery in the world’s biggest economy, dimming the demand outlook for industrial metals. US consumer confidence fell in May, Thomson Reuters said. A slowdown in China’s inbound FDI singled a cooling recovery in the world’s biggest metals consumer, weighing on sentiment. Zinc futures may rise today as China vowed to fasten the pace of financial reforms, raising hopes of a growth rebound, lifting the demand outlook for industrial metals. 

At the MCX, Zinc futures for May 2014 contract closed at Rs. 121.20 per 1 kg, down by 1.02 per cent, after opening at Rs. 122.05, against the previous closing price of Rs. 122.45. It touched an intra-day low of Rs 120.45.

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CAPITAL STROKE COMMODITY UPDATE 19 MAY 2014: MCX NATURAL GAS

Natural gas futures slumped in the domestic market on Friday as investor and speculators exited positions in the energy commodity tracking a weak trend in the overseas market as investors weighed above-average storage injections with forecasts for moderate weather which may dim the demand outlook for the heating fuel. Bigger than expected gains in US inventories in recent weeks signal ample gas supplies in the world’s biggest economy. At the same time, weather forecasts signaled normal weather in the US in the coming weeks, dimming the demand outlook for the energy commodity which is used for heating purposes. Natural gas futures may continue the downward journey today amid weak global cues on above-average storage levels. 

At the MCX, Natural gas futures for May 2014 contract closed at Rs. 259.90 per mmBtu, down by 2.66 per cent, after opening at Rs 265.50, against the previous closing price of Rs 267. It touched an intra-day low of Rs 259.40.

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CAPITAL STROKE COMMODITY UPDATE 19 MAY 2014: MCX CRUDE OIL

CRUDE OIL: - CONSOLIDATE STRATEGY BUY ON DIPS R2-6100 R1-6020 S1-5920 S2-5850 

Crude oil futures fell in the domestic market on Monday as a sharp appreciation in the Indian rupee against the US dollar more than offset the gains seen in the overseas market. Stronger rupee exerts downward pressure on domestic crude oil prices. Crude oil futures rose in the overseas market on Monday amid concerns that rising violence in Libya, the holder of Africa’s biggest oil reserves, may disrupt global crude supplies. Further, rising tensions in Ukraine where the government continues to fight separatists also supported crude oil prices. 

At the MCX, Crude Oil futures, for the May 2014 contract, is trading at Rs 5,973 per barrel, down by 0.18 per cent, after opening at Rs 5,982, against a previous close of Rs 5,984. It touched an intra-day low of Rs 5,963.

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CAPITAL STROKE COMMODITY UPDATE 19 MAY 2014: MCX NICKEL

NICKEL: - CONSOLIDATE STRATEGY BUY ON DIP R2-1145 R1-1130 S1-1105 S2-1090 

Nickel rebounded narrowing its biggest weekly loss on the news that demand for the metal will exceed production for the next five years.

Support seen as top nickel miner Indonesia in January banned ore exports while tougher sanctions against Russia continuous.

Support continuous as Limit supply and Vale SA said operations remain halted at a plant in New Caledonia.

Warehouse stock for Nickel at LME was at 279816mt that is up by 480mt. 
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CAPITAL STROKE COMMODITY UPDATE 19 MAY 2014 : MCX ALUMINIUM

Aluminium trading range for the day is 100.6-104.2.

Aluminium settled down as weaker Chinese demand and overcapacity in the can market created pressure on the prices

China's oversupply of aluminium is closure of 420,000 tonnes of outdated capacity this year as Beijing's campaign to reduce pollution gathers some steam.

China's aluminium surplus may also reduce in the medium term through rising exports of fabricated aluminium products for use

Warehouse stock for Aluminium at LME was at 5264450mt that is down by -9500mt

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CAPITAL STROKE COMMODITY UPDATE 19 MAY 2014 MCX GOLD

CS GOLD STRATEGY: -: CONSOLIDATE STRATEGY BUY ON DIP R2-28700 R1-28400 S1-27800 S2-27400 
Gold futures rose in the domestic market on Monday as investors and speculators booked fresh positions in the precious metal as deepening tensions in Ukraine boosted the bullion’s safe haven demand as pro-Russian separatists continued to lock horns with the Ukrainian government. However, rising bets that the US Federal Reserve will continue to taper its monthly bond buying program in the coming months and exit QE by the end of the year, dimmed the appeal of the bullion, which is a hedge against the inflationary risk of monetary stimulus, trimming gains in gold futures. 

Gold futures for June 2014 contract, at MCX, is trading at Rs. 28,172 per 10 grams, up by 0.30 per cent, after opening at Rs. 28,050, against the previous closing price of Rs 28,089. It touched an intra-day high of Rs 28,178.

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CAPITAL STROKE COMMODITY UPDATE 19 MAY 2014: MCX COPPER

COPPER: CONSOLIDATE STRATEGY BUY ON DIPR2-422 R1-416 S1-404 S2-400

Copper futures rose in the domestic market on Monday as investors and speculators booked fresh positions in the industrial metal as China vowed to fasten the pace of financial reforms, raising hopes of a growth rebound, lifting the demand outlook for industrial metals, given that China is the world’s biggest metals consumer. The country’s top economic planning agency said that the country will accelerate the pace of economic reforms as policymakers aim to stem a deepening economic slowdown. 

At the MCX, copper futures for June 2014 contract is trading at Rs. 413.35 per 1 kg, up by 0.77 per cent, after opening at Rs. 412, against the previous closing price of Rs. 410.20. It touched an intra-day high of Rs. 413.50.

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CAPITAL STROKE ALL COMMODITY UPDATE 16 MAY 2014

CS GOLD STRATEGY: -: CONSOLIDATE STRATEGY BUY ON DIP R2-29100 R1-28400 S1-27800 S2-27400
SILVER STRATEGY:- CONSOLIDATE STRATEGY BUY ON DIP R2-44500 R1-43500 S1-41000 S2-39500
CRUDE OIL: - CONSOLIDATE STRATEGY BUY ON DIPS R2-6200 R1-6120 S1-6000 S2-5950
COPPER: CONSOLIDATE STRATEGY BUY ON DIPR2-430 R1-426 S1-408 S2-404
LEAD: - CONSOLIDATE STRATEGY BUY ON DIP R2-129 R1-127 S1-123 S2-121
ZINC: - CONSOLIDATE STRATEGY BUY ON DIP R2-129 R1-127 S1-123 S2-121
 NICKEL: - CONSOLIDATE STRATEGY BUY ON DIP R2-1130 R1-1125 S1-1105 S2-1090



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CAPITAL STROKE COMMODITY UPDATE 16 MAY 2014 : MCX ALUMINIUM

Aluminium trading range for the day is 102.1-106.3.
Aluminium prices ended lower in the wake of surprise decline in US industrial output in April. 
European aluminium consumers are expected to pay record amounts to get hold of physical metal in the second half of 2014

In Europe, the euro zone GDP grew 0.2% on a quarterly basis during Q1, on par with Q4 last year but missing forecasts.
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CAPITAL STROKE COMMODITY UPDATE 16 MAY 2014: MCX NATURAL GAS

Natural gas trading range for the day is 251.7-275.7.
Natural gas prices shot up after data revealed inventories rose more than expected though still small enough to allay supply concerns.
EIA said that U.S. Natural Gas Storage rose by 105 billion cubic feet, up from 74 billion cubic feet in the preceding month.

U.S. stockpiles need to fill by November at the start of the heating season, which means quantities going into to storage must rise.
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