CAPITAL STROKE COMMODITY UPDATE 22 MAY 2014: : MCX NICKEL

NICKEL: - CONSOLIDATE STRATEGY BUY ON DIP R2-1165 R1-1150 S1-1125 S2-1110
Nickel dropped on profit booking and extended weakness amid a weak trend in global markets and subdued demand
High nickel stocks unlikely to bring rally to an end

London Metal Exchange nickel inventories have increased 7 percent since Jan. 12, when Jakarta slapped on the ban.

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CAPITAL STROKE COMMODITY UPDATE 22 MAY 2014:: MCX ZINC

ZINC: - CONSOLIDATE STRATEGY BUY ON DIP R2-125 R1-123 S1-119.5 S2-118
Zinc dropped after the news that Moody’s decided to slash its rating for China’s property market from stable to negative
Prices look to hold support at 120 level as support seen after report that the global refined zinc market moved deeper into deficit in first quarter of 2014

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CAPITAL STROKE COMMODITY UPDATE 22 MAY 2014:: MCX COPPER

COPPER: CONSOLIDATE STRATEGY BUY ON DIPR2-420 R1-414 S1-404 S2-398
Copper drifted lower as traders took profits after prices failed to build on gains, suggesting lukewarm appetite from consumers.
Copper prices have been well-supported in recent sessions amid growing concerns over a shortfall in supply in the near-term.


China's HSBC May flash manufacturing PMI rose to 49.7, well above expectations of matching the April reading of 48.1.
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CAPITAL STROKE COMMODITY UPDATE 22 MAY 2014:: MCX CRUDE OIL

CRUDE OIL: - CONSOLIDATE STRATEGY BUY ON DIPS R2-6250 R1-6180 S1-6050 S2-5980

Crude oil gained after the government reported a large draw in commercial crude stocks, while renewed fighting in Libya that kept output low boosted prices.
The U.S. Energy Information Administration said in its weekly report that U.S. crude oil inventories decreased by 7.2 million barrels


Libya's major western oilfields remain closed 10 days after the government said protesters blocking pipeline flows had agreed to leave.
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CAPITAL STROKE COMMODITY UPDATE 22 MAY 2014: MCX GOLD

CS GOLD STRATEGY: -: CONSOLIDATE STRATEGY BUY ON DIP R2-28100 R1-27800 S1-27100 S2-26800
Gold trading range for the day is 26728-28600.
Gold settled down as pressure seen after the news of liberalisation of gold import norms.
India's central bank eased tough gold import rules on Wednesday by allowing seven more private agencies to ship the precious metal.

SPDR Gold Trust, said its holdings fell 3.3 tonnes to 776.89 tonnes on Wednesday - the lowest since December 2008.
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CAPITAL STROKE COMMODITY UPDATE 22 MAY 2014 MCX SILVER

SILVER STRATEGY: - CONSOLIDATE STRATEGY BUY ON DIP R2-43500 R1-42500 S1-39000 S2-37500
Silver prices ended with losses as pressure tracking weak gold prices as the dollar climbed and equities maintained gains.
The Fed has been tapering its asset-purchasing program this year amid signs that the recovery in the labor market is continuing.
New York Fed President William Dudley reiterated the central bank’s dovish stance, saying the pace of rate hikes was likely to be “slow”.
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CAPITAL STROKE COMMODITY UPDATE 22 MAY 2014: MCX NATURAL GAS

Natural gas trading range for the day is 259-271.4.
Natural gas slid on speculation that government data will show a bigger-than-normal stockpile.

Producers would need to add 2.6 trillion to 2.9 trillion cubic feet to storage by November 1 to meet typical winter demand


Today natural gas storage: Exp: 104B Prev: 105B. 

Actual is at 8.00PM.

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CAPITAL STROKE COMMODITY UPDATE 22 MAY 2014: MCX ALUMINUM

Aluminium trading range for the day is 100.9-102.9.
Aluminium settled flat due to caution ahead of the release of minutes of the Federal Reserve's last meeting.
The minutes showed that the Fed’s discussion of several approaches to raising short-term interest rates is not a sign rate hikes will come any time soon.

Bank of England announced it would maintain interest rates unchanged, despite the fact that some officials were inclined to hike the rate.


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CAPITAL STROKE ALL COMMODITY RESISTANCE AND SUPPORT UPDATE 22 MAY 2014

COPPER: CONSOLIDATE STRATEGY BUY ON DIPR2-420 R1-414 S1-404 S2-398
LEAD: - CONSOLIDATE STRATEGY BUY ON DIP R2-127 R1-125.5 S1-122 S2-120
ZINC: - CONSOLIDATE STRATEGY BUY ON DIP R2-125 R1-123 S1-119.5 S2-118
NICKEL: - CONSOLIDATE STRATEGY BUY ON DIP R2-1165 R1-1150 S1-1125 S2-1110
CS GOLD STRATEGY: -: CONSOLIDATE STRATEGY BUY ON DIP R2-28100 R1-27800 S1-27100 S2-26800
SILVER STRATEGY: - CONSOLIDATE STRATEGY BUY ON DIP R2-43500 R1-42500 S1-39000 S2-37500
CRUDE OIL: - CONSOLIDATE STRATEGY BUY ON DIPS R2-6250 R1-6180 S1-6050 S2-5980

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CAPITAL STROKE COMMODITY UPDATE 21 MAY 2014 MCX GOLD

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

Gold settled flat after trading in tight range as an industry report showed first-quarter demand in India and China fell sharply.
Gold demand in India to rise in H2 as import curbs likely to be eased – WGC


SPDR gold trust holdings dropped by 1.79 tonnes i.e. 0.23% to 780.19 tonnes from 781.98 tonnes.

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