Home > Financial > Commodity Research Report Ways2Capital 16 Jan 2018

Commodity Research Report Ways2Capital 16 Jan 2018

Added: (Tue Jan 16 2018)

Pressbox (Press Release) - MCX Fundamentals


BULLION
Gold futures rose to the highest since November 9 2016 in American trade as the
dollar index dipped to September 8 lows following a basket of data from China the
world's largest metals consumer and the US the world's largest economy.Earlier US
data showed US retail sales rose 0.4% m/m in December slowing down sharply
from 0.9% in November revised from 0.8% while analysts expected a 0.5%
increase.Core sales rose 0.4% besting expectations of 0.3% while still sharply down
from November's 1.3% increase, revised from 1%.US consumer prices rose 0.1% in
December in line with expectations slowing down from 0.4% in November.

BASE METALS

Base metas prices are starting to work higher after generally drifting since the start
of the year but overhead tails on daily candlesticks in recent days does suggest
there is overhead selling around to.Nickel and tin have been the two metals that
have held up the best this week with nickel setting a fresh two and half year high at
$ 13,200 per tone. Perhaps continued focus on cobalt scarcity and a pressing need
to use more nickel some long term stratgic investment buying .we remain quietly
bullish for the base metals complex and see the longer term outlook as being
positive and traders may well continue to front run that .we expect dips to remain
well supported as seems to have been the case in recent days.

ENERGY

Oil futures tilted lower in American trade, still hovering near three-year highs,
even as the dollar index declined to the lowest since September 8, following a
basket of data from China, the world's largest energy importer, and the US, the
world's largest energy consumer. On Wednesday, the Energy Information
Administration released its report on US crude stocks, showing a decline of 4.9
million barrels in the week ending January 5, passing expectations of a 3.9M drop,
and adding to the 7.4M drop in the previous reading, with total stocks now
reaching 419.5 million barrels. Gasoline stocks rose 4.1 million barrels, while
distillate stocks, including heating fuel, rose 4.3 million barrels, remaining within
the medium range on average in this time of year. Otherwise, UAE energy minister
Suhail Al Mazroui said in earlier remarks that global demand growth was surprising
last year, while expecting full compliance with the deal to cut output by 1.8 million
bpd in cooperation between OPEC and Russia.

SPICES

The Turmeric is in long medium short medium term bull phase .Currently
Turmeric is in strong down trend with good momentum but volume is
unsatisfactory The open interest is not increasing with trend . Noting point is
selling at lower levels seems decreasing. The oscillator is showing sell signal
For short term Turmeric is in sell position.NCDEX Mar Jeera fall more than
2.5% last week on expectation that jeera production may be higher in coming
season on reports of higher acreage of cumin in the current season.



OIL & OILSEEDS

Soy bean futures fell nearly one percent in American trade to September 13
lows, as the dollar index dipped for the first time in four sessions, following
earlier data from China, the world's largest soy bean importer, and the US,
the worl://d's largest producer and exporter. As of 08:58 GMT, soy bean
futures due on March 15 shed 0.91% to $9.5500 from the opening of
$9.6375, while the dollar index slipped 0.22% to 92.32 from the opening of
92.53.Mustard Apr futures closed lower last week tracking weak physical
demand. Market is still expecting for some demand side fundamentals as
downside looks limited.

GUAR COMPLEX

Guar futures are expected to trade mixed to higher this week as rally in crude
oil prices is likely to boost up export demand of gum which may help prices to
recover during todayís session. Oil drillers in US are expected to increase their
drilling activities due to expanding profit margin supported by surging crude
oil prices which may push up the export demand of gum from India as gum is
used as major component during hydraulic fracturing technique used in oil
drilling activities.

OTHERS

Overall trend of the Chana is bearish for medium-long term .Currently Chana
is in strong down trend and the trend is supported with good volume The
open interest is not increasing with trend.The oscillator is showing sell signal
For short term Chana is in sell position. Currently Chana is in position Chana
has crossed the high but the trend was not strong and sellers was at high so
for short term better buy above 4270.4 with stop at 3810.0 The oscillator is
showing SELL signal.The Cotton seed oil cake akola is in perfect up trend
.Currently Cotton seed oil cake akola is in strong up trend and the trend is
supported with good volume The open interest is not increasing with trend
.The Cotton seed oil cake akola is now trading in overbought level.

Calls of the Week (MCX)

SILVER
Silver futures rose nearly one percent in American trade away from late-2017 lows for the second session, as the dollar
index plumbed the lowest since September 8, following earlier data from China, the world's largest metals consumer,
and the US. Investors are still interested in Silver. Currently Silver is trading sideways on higher level. Recently market
has been broken its trading channel on upside and sustaining above it. Also RSI sustaining in overbought zone. Trades
can follow the buy on dips strategy.

NATURALGAS

Natural gas futures fell below $3 on Thursday away from December 4 highs after earlier data from the US the world's
largest energy consumer including the EIA report that showed a lower-than-expected inventory draw down last week.
In domestic market 180 level reacting as a strong support level and getting bounce back from lower level and recently
we seen that market settled above the important level of 200, if market sustain above this level we can expect further
upside rally for the next couple of weeks. The oscillator is showing buy signal. Support for the Natural gas is 190.
Immediate resistance for Natural gas is 210.

Calls of the Week (NCDEX)

DHANIYA

NCDEX Dhaniya Apr future continued to trade in the range of 6300-6000 from the last couple of trading week. Price
made the low of 5935 during the week and the high of 6320 and settled at above 6000. On its daily chart market is
resist by the 50 days Moving Average also, forming H&S formation on higher level indicating the bearish trend for short
term basis. We can see pressure on prices from higher level. And we are expecting market can be traded with negative
sentiment.

SOYABEAN

NCDEX Feb Soy bean fell on Friday as market participants continue its fresh selling by Market participants. However
currently soy bean is trading at 6 month high as supplies have been diminishing slowly in the physical market.
Moreover reports on inventories lower compared to last year. According to SOPA soy bean inventories with farmers
traders and plant owner sat the end of December were at 6.5 mt, down from 8.2 mt a year ago.Soy bean fut://ures are
expected to trade sideways to down due to selling pressure. However, reports of improved demand from the oil mills
and higher incentives for oil meal export improved estimates for meal exports and slow arrivals of soy bean in physical
market will support soy bean prices.

Calls of the Week (FOREX)

GBPINR
Last week, GBPINR started the week on positive note and continued the same for the entire week. It made a high of
86.9000 during the week and closed at 86.8350 with the overall gain of 0.89% on weekly basis. Itís still sustaining
above the major resistance level of 86.8000 with positive RSI. Technically for this week, we can expect further upside
movement in it above the level of 87.3725 till the levels of 87.8725/ 88.0000. Trades can make buy position in it by://
maintaining a Stop Loss of 86.9925

JPYINR
Last week, JPYINR started the week on positive note and continued the same for the entire week. It made a high of
57.4250 during the week and closed at 57.4025 with the overall gain of 2.20% on weekly basis. Itís still sustaining near
to trend line & 200days Moving average breakout. Technically for this week, we can expect further upside movement
in it and above the level of 57.4550, it can test the level of 57.9725 by the end of the week. Trades can make buy
position in it by maintaining a Stop Loss of 57.0725

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