CAPITAL STROKE UPDATE 8-July-2014 : MCX NICKEL

NICKEL: - CONSOLIDATE STRATEGY BUY ON DIP R2-1190 R1-1175 S1-1145 S2-1130

Nickel settled flat as lack of important macroeconomic news, while prices hold near to the highest since May as the U.S.

PBOC recognized that China’s economic structure showed positive changes in the Q2 and it will employ flexible monetary policy to support the country’s economy.

Production of nickel will exceed demand by 50,000 metric tons this year before a deficit in 2015. Warehouse stock for Nickel at LME was at 305394mt that is up by 858mt.

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CAPITAL STROKE UPDATE 8-July-2014 : MCX ALUMINIUM

Aluminium trading range for the day is 112.8-115.8.

Aluminium gained as support seen from the LME aluminium price, which breached the psychologically important $1,900 a tonne,

China is expected to meet the 2014 GDP growth target after its economy improved in the second quarter.

Aluminium for a long time has been excess capacity outside China and its use leading to the buildup of stocks of over 5mt at LME warehouses.

Warehouse stock for Aluminium at LME was at 5038525mt that is down by -10700mt.

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CAPITAL STROKE UPDATE 8-July-2014 : MCX NATURAL GAS

Naturalgas trading range for the day is 247.1-264.9.

Natural gas dropped more that -3% on concerns that this week's supply report will show soft demand for the commodity.

Investors sold natural gas positions and jumped to the sidelines to prep for Thursday's supply report, with concerns brewing the numbers will show soft demand.

Natural gas stockpiles have grown by 100 or more billion cubic feet for eight consecutive weeks, a record streak since 1994.

Warmer weather will push out a brief cool snap over the U.S., though updated forecasts wouldn't rule out the possibility of another cooling period.

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CAPITAL STROKE UPDATE 8-July-2014 : MCX ZINC

ZINC: - CONSOLIDATE STRATEGY BUY ON DIP R2-138 R1-137 S1-134 S2-132
Zinc settled up as support seen as tightening LME inventories remained the key support for the base metal.

Support seen after the update that Zinc production fell 6.6% to 112,528 mt due to a drop in output at Antamina.

Week ahead is also light on data but the US quarterly corporate earnings season kicks off, while the FOMC minutes will be released on Wednesday.
Warehouse stock for Zinc at LME was at 663650mt that is down by -1000mt.

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CAPITAL STROKE UPDATE 8-July-2014 : MCX COPPER

COPPER: CONSOLIDATE STRATEGY BUY ON DIP R2-444 R1-440 S1-430 S2-424
Copper settled down after IMF's MD Christine Lagarde hinted that the agency may be preparing to cut its global growth forecasts.
China is due to release data on consumer price inflation on Wednesday, followed by a report on the trade balance on Thursday.
In the U.S., the Federal Reserve is due to release the minutes of its June policy meeting on Wednesday.Warehouse stock for Copper at LME was at 159350mt that is up by 2850mt.

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CAPITAL STROKE UPDATE 8-July-2014 : MCX CRUDE OIL

CRUDE OIL: - CONSOLIDATE STRATEGY BUY ON DIPS R2-6350 R1-6280 S1-6150 S2-6080
Crude oil dropped as concerns over potential supply disruptions in the Middle East continued to subside.
Investors continued to unwind positions that had priced in the possibility of major supply disruptions stemming from violence in Libya and Iraq.
In the U.S., the Fed is due to release the minutes of its June policy meeting on Wednesday.Investors looked ahead to key economic data out of China and the U.S. later in the week to gauge the health of the global economy.

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CAPITAL STROKE ALL COMMODITY RESISTANCE AND SUPPORT UPDATE 8 JULY 2014

CS GOLD STRATEGY: -: CONSOLIDATE STRATEGY BUY ON DIP R2-28100 R1-27800 S1-27200 S2-26900

SILVER STRATEGY: - CONSOLIDATE STRATEGY BUY ON DIP R2-48000 R1-46500 S1-43500 S2-42000

CRUDE OIL: - CONSOLIDATE STRATEGY BUY ON DIPS R2-6350 R1-6280 S1-6150 S2-6080

COPPER: CONSOLIDATE STRATEGY BUY ON DIP R2-444 R1-440 S1-430 S2-424

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

ZINC: - CONSOLIDATE STRATEGY BUY ON DIP R2-138 R1-137 S1-134 S2-132

NICKEL: - CONSOLIDATE STRATEGY BUY ON DIP R2-1190 R1-1175 S1-1145 S2-1130


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CAPITAL STROKE ALL COMMODITY RESISTANCE AND SUPPORT UPDATE 7 JULY 2014

CS GOLD STRATEGY: -: CONSOLIDATE STRATEGY BUY ON DIP R2-28100 R1-27800 S1-27200 S2-26900
SILVER STRATEGY: - CONSOLIDATE STRATEGY BUY ON DIP R2-48000 R1-46500 S1-43500 S2-42000
CRUDE OIL: - CONSOLIDATE STRATEGY BUY ON DIPS R2-6350 R1-6280 S1-6150 S2-6080

COPPER: CONSOLIDATE STRATEGY BUY ON DIP R2-444 R1-440 S1-428 S2-422
LEAD: - CONSOLIDATE STRATEGY BUY ON DIP R2-134 R1-132 S1-128 S2-126
ZINC: - CONSOLIDATE STRATEGY BUY ON DIP R2-138 R1-136 S1-132 S2-130
NICKEL: - CONSOLIDATE STRATEGY BUY ON DIP R2-1190 R1-1175 S1-1145 S2-1130

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CAPITAL STROKE COMMODITY UPDATE 7 JULY 2014 :: MCX COPPER

Copper futures fell in the domestic market on Monday as investors and speculators exited positions in the industrial metal after the IMF signaled a cut in global growth forecast, dimming the demand outlook for copper. However, the losses in the base metal were trimmed amid hopes that a string of Chinese economic data due this week including new local-currency loans and trade data may signal a pickup in the world’s second biggest economy, lifting the demand outlook for industrial metals. 

At the MCX, copper futures for August 2014 contract is trading at Rs. 433.20 per 1 kg, down by 0.44 per cent, after opening at Rs. 433.60, against the previous closing price of Rs. 435.10. It touched an intra-day low of Rs. 432.60.

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CAPITAL STROKE COMMODITY UPDATE 7 JULY 2014 : MCX ZINC

Zinc futures fell in the domestic market on Monday as investors and speculators exited positions in the industrial metal amid weak physical demand for zinc in the domestic spot market. Further, the International Monetary Fund (IMF) predicted weak pace of recovery in the European economy, dimming the demand outlook for industrial metals. A dip in German factory orders in May signaled that Europe’s biggest economy was losing momentum. 

At the MCX, Zinc futures for July 2014 contract is trading at Rs. 132.80 per 1 kg, down by 0.52 per cent, after opening at Rs. 133.05, against the previous closing price of Rs. 133.50. It touched an intra-day low of Rs. 132.70. 

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