CAPITAL STROKE COMMODITY UPDATE 20 MAY 2014 : MCX ZINC

ZINC: - CONSOLIDATE STRATEGY BUY ON DIP R2-127 R1-124 S1-120 S2-118 

Zinc prices seen supported amid speculation demand from top consumer China will increase in the near-term.

The next slice of Chinese economic data to come out will be the HSBC preliminary purchasing managers' index for May, due on Thursday.

Technically market is under fresh buying as market has witnessed gain in open interest by 1.28% to settled at 1656.

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CAPITAL STROKE COMMODITY UPDATE 20 MAY 2014: MCX COPPER

COPPER: CONSOLIDATE STRATEGY BUY ON DIPR2-422 R1-416 S1-408 S2-402

Copper gained as disappointing housing data from China fuelled speculation policymakers will unveil fresh stimulus measures to stabilize the economy.

Data showed that house prices in China rose 6.7% in April from a year earlier, slowing from a 7.7% increase in the previous month.

The disappointing data added to hopes that China’s government will introduce fresh stimulus to combat recent signs of a slowdown in the nation’s economy.
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CAPITAL STROKE COMMODITY UPDATE 20 MAY 2014 MCX GOLD

CS GOLD STRATEGY: -: CONSOLIDATE STRATEGY BUY ON DIP R2-28700 R1-28400 S1-27800 S2-27400 

Gold prices seen supported as the situation in Ukraine showed no signs of easing ahead of the country’s presidential election later in the week.

Meanwhile, lacklustre investment demand in terms of ETFs and reports of rather soft physical demand prevented prices to increase.

The ECB and other central banks announced the renewal of the current central bank gold agreement from September this year.



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CAPITAL STROKE COMMODITY UPDATE 20 MAY 2014 MCX SILVER

SILVER STRATEGY: - CONSOLIDATE STRATEGY BUY ON DIP R2-43500 R1-42500 S1-39000 S2-37500 

Silver erased initial gains to end flat as rising U.S. equities decreased bullion's appeal as a hedge

Heightened tensions between Russia and Ukraine continued to support demand for safe haven assets.

Investors avoided the dollar on Monday to digest last week's mixed bag of economic indicators, which supported prices.


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CAPITAL STROKE ALL COMMODITY RESISTANCE AND SUPPORT UPDATE 20 MAY 2014

COPPER: CONSOLIDATE STRATEGY BUY ON DIPR2-422 R1-416 S1-408 S2-402
LEAD: - CONSOLIDATE STRATEGY BUY ON DIP R2-129 R1-127 S1-123 S2-121
ZINC: - CONSOLIDATE STRATEGY BUY ON DIP R2-127 R1-124 S1-120 S2-118
NICKEL: - CONSOLIDATE STRATEGY BUY ON DIP R2-1215 R1-1200 S1-1160 S2-1140

CS GOLD STRATEGY: -: CONSOLIDATE STRATEGY BUY ON DIP R2-28700 R1-28400 S1-27800 S2-27400
SILVER STRATEGY: - CONSOLIDATE STRATEGY BUY ON DIP R2-43500 R1-42500 S1-39000 S2-37500
CRUDE OIL: - CONSOLIDATE STRATEGY BUY ON DIPS R2-6100 R1-6050 S1-5950 S2-5900

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CAPITAL STROKE ALL COMMODITY UPDATE 19 MAY 2014

COPPER: CONSOLIDATE STRATEGY BUY ON DIPR2-422 R1-416 S1-404 S2-400
LEAD: - CONSOLIDATE STRATEGY BUY ON DIP R2-128 R1-126 S1-122 S2-120
ZINC: - CONSOLIDATE STRATEGY BUY ON DIP R2-125 R1-123 S1-120 S2-118
NICKEL: - CONSOLIDATE STRATEGY BUY ON DIP R2-1145 R1-1130 S1-1105 S2-1090
CS GOLD STRATEGY: -: CONSOLIDATE STRATEGY BUY ON DIP R2-28700 R1-28400 S1-27800 S2-27400
SILVER STRATEGY: - CONSOLIDATE STRATEGY BUY ON DIP R2-42500 R1-41500 S1-39000 S2-37500
CRUDE OIL: - CONSOLIDATE STRATEGY BUY ON DIPS R2-6100 R1-6020 S1-5920 S2-5850



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CAPITAL STROKE COMMODITY UPDATE 19 MAY 2014 MCX SILVER

SILVER STRATEGY: - CONSOLIDATE STRATEGY BUY ON DIP R2-42500 R1-41500 S1-39000 S2-37500 

Silver settled down as better-than-expected data out of the U.S. housing sector weighed on prices I

nvestors bet the Federal Reserve will continue to taper stimulus programs that have supported the metal for years.

U.S. Mint data showed silver coin sales have outperformed that of gold in the first four months of the year.

Unprecedented coin buying and strong silver jewelry purchases, fueled by a 24 percent drop in prices, sent physical silver demand to a record high in 2013.

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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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