CAPITAL STROKE UPDATE 24-June-2014 : MCX CRUDE OIL

CRUDE OIL: - CONSOLIDATE STRATEGY BUY ON DIPS R2-6540 R1-6460 S1-6350 S2-6280
Crude oil futures ended lower in the domestic market on Monday as investors and speculators exited positions in the energy commodity tracking a weak trend in the overseas market amid fears of easing supply concerns.
Crude oil futures may fall today amid speculation that Iraq’s crude supply maybe unaffected by the violence.
At the MCX, Crude Oil futures, for the July 2014 contract, closed at Rs 6,405 per barrel, down by 0.85 per cent, after opening at Rs 6,470, against a previous close of Rs 6,460. It touched an intra-day low of Rs 6,391.

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CAPITAL STROKE ALL COMMODITY RESISTANCE AND SUPPORT UPDATE 24 JUNE 2014

CS GOLD STRATEGY: -: CONSOLIDATE STRATEGY BUY ON DIP R2-28200 R1-27900 S1-27300 S2-27000

SILVER STRATEGY: - CONSOLIDATE STRATEGY BUY ON DIP R2-47500 R1-46000 S1-43000 S2-41500

CRUDE OIL: - CONSOLIDATE STRATEGY BUY ON DIPS R2-6540 R1-6460 S1-6350 S2-6280

COPPER: CONSOLIDATE STRATEGY BUY ON DIP R2-424 R1-420 S1-410 S2-406

LEAD: - CONSOLIDATE STRATEGY BUY ON DIP R2-131 R1-129 S1-125 S2-123

ZINC: - CONSOLIDATE STRATEGY BUY ON DIP R2-134 R1-132 S1-128 S2-126

NICKEL: - CONSOLIDATE STRATEGY BUY ON DIP R2-1140 R1-1120 S1-1090 S2-1075

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CAPITAL STROKE UPDATE 23-June-2014 : MCX GOLD

CS GOLD STRATEGY: -: CONSOLIDATE STRATEGY BUY ON DIP R2-28200 R1-27900 S1-27300 S2-27000
Gold settled up buoyed by dovish language out of Fed as well as concerns the U.S. may get dragged deeper into the Iraqi insurgency.
The yellow metal posted its biggest weekly gain in three months due to a violent military insurgence in Iraq and a softer dollar.

Fed Chairwoman gave a positive assessment of the U.S. economy and reiterated that rates would stay low for a long time.

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CAPITAL STROKE UPDATE 23-June-2014 : MCX SILVER

SILVER STRATEGY: - CONSOLIDATE STRATEGY BUY ON DIP R2-47500 R1-46000 S1-43000
S2-41500
Silver settled up lifted by technical buying and as stronger copper prices lifted the grey metal's industrial appeal.
Lower US 2014 growth forecast by Fed and lingering geopolitical tensions in Iraq rekindled investors' interest in bullion.

Fed left benchmark interest rates unchanged at 0.00-0.25% and cut its monthly bond-buying program to $35 billion.

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CAPITAL STROKE UPDATE 23-June-2014 : MCX ALUMINIUM

Aluminium trading range for the day is 110.2-113.4.
Aluminium ended with losses as there is no major news and economic releases on Friday and traders book profit on higher levels
Meanwhile China last week pledged to stick to growth targets that would eventually boost demand for the industrial metal.

Aluminium weekly stocks at Shanghai exchange came up by 478 tonnes.

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CAPITAL STROKE UPDATE 23-June-2014 : MCX NATURAL GAS

Natural gas trading range for the day is 268.7-280.1.
Natural gas dropped as pressure seen after weekly inventory and weather forecasts calling for a break in a heat wave also pushed down prices.
Gas inventories last week rose by 113 billion cubic feet to 1.719 trillion, the lowest level for the time of the year since 2003.
A supply deficit narrowed to 33.1 percent from a record 54.7 percent in late March.

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CAPITAL STROKE UPDATE 23-June-2014 : MCX NICKEL

NICKEL: - CONSOLIDATE STRATEGY BUY ON DIP R2-1140 R1-1120 S1-1090 S2-1075
Nickel prices dropped as prices seen under pressure as Indonesia shows no signs of relaxing the ban on exports of unprocessed minerals
The impact is already clear to see in the monthly statistical updates from the International Nickel Study Group (INSG).

The most recent INSG bulletin, covering the month of April, pegs that month's surplus at just 1,900 tonnes.

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CAPITAL STROKE UPDATE 23-June-2014 : MCX ZINC

ZINC: - CONSOLIDATE STRATEGY BUY ON DIP R2-134 R1-132 S1-128 S2-126
Zinc rose as prices were supported after inventories monitored by the LME fell to the lowest since December 2010.
Global zinc demand outpaced supply by 107,000 tonnes in January to April, up sharply from a deficit of 17,000 tonnes in January-March.

Technically market is under fresh buying as market has witnessed gain in open interest by 2.78% to settled at 3590.

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CAPITAL STROKE UPDATE 23-June-2014 : MCX COPPER

COPPER: CONSOLIDATE STRATEGY BUY ON DIP R2-424 R1-420 S1-410 S2-406
Copper rose backed by tighter physical supply in top metal consumer China.
Combined copper stockpiles monitored by exchanges in London, Shanghai and New York extended a drop to the lowest since October 2008.

Physical copper supply in China - the world's biggest consumer of the metal - is tightening at a time when demand is brisk.

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CAPITAL STROKE UPDATE 23-June-2014 : MCX CRUDE OIL

CRUDE OIL: - CONSOLIDATE STRATEGY BUY ON DIPS R2-6600 R1-6520 S1-6380 S2-6300
Crude oil rose as a bloody Iraq insurgency continued to stoke fears shipments from the oil-rich country will be affected.
Iraq produced approximately 3.5 million barrels a day of oil last month, making it OPEC’s second-biggest oil producer.

World oil demand is expected to increase by 1.14 mb/d in 2014, in line with the previous month’s forecast.

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