BRITANNIA ON CHART

but last two consecutive sessions, traded above it, taking support of such a level. This indicated
bullish in the counter with Volumes rising in last three trading sessions. Prices had maintained support of 460 levels earlier.
BUY till Closing is above 200DMA Zone of 495 level with Stop below its previous Support zone,
mentioned. Book Profit near resistance zones.
CMP – 502. RESISTANCE – 509, 519, 525 SUPPORT – 499, 494, 489

TODAY'S COMMODITIES VIEW

GOLD ------>Buy near 29690 SL 29613 TGT 29785/29871 OR Sell near 29958 SL 30045 TGT 29785/ 29700

SILVER------>Buy on dips near 53706 SL 53359 TGT 54228/54871

Aluminium-->Buy near 110.5 SL 109.8 TGT 111/112.1 
                    OR Sell near 112.7 SL 113.5   TGT 112/111

Copper------>Buy 429 SL 426 TGT 434/437
                   OR Sell near 437 SL 440 TGT 434/429 

 Lead  ------>Lead has shown good recovery, But pressure may come as it moves up.

Nickel------>There are multiple resistances 920-929. Its 200 DMA also lies at 925.

Zinc-------->Buy near 114.2 SL 113.4 TGT 115.2/115.8

Crude------>SELL on Rise near 5147 SL 5177 

Natural Gas -->NG has stiff resistance at 182.9 & strong support at 174.2,  Either side break out can result in sharp move.

Market Commentary

Market Commentary
WTI Oil Trades Near December Low as Stockpiles Gain a Fifth Week.
West Texas Intermediate oil traded near the lowest level since December after falling a second day as U.S. crude stockpiles increased for a fifth week, the longest streak of gains since May. Futures were little changed and heading for the biggest weekly drop since December. Crude inventories rose 4.1 million barrels last week, the biggest advance in three weeks, according to data from the Energy Information Administration, the Energy Department’s statistical arm. They were forecast to climb 2 million barrels, a Bloomberg News survey of analysts show. U.S. oil production increased to the highest since 1992, the government report showed. WTI for April delivery was at $93.02 a barrel, up 18 cents, in electronic trading on the New York Mercantile Exchange at 11:05 a.m. Sydney time. The contract slid to $92.84 yesterday, the lowest since Dec. 31. The volume of all futures traded was 70 percent below the 100-day average. Prices are down 3 percent this week, the most since the week ended Dec. 7. Brent for April settlement slipped $2.07 to $113.53 a barrel on the London-based ICE Futures Europe exchange yesterday. The European benchmark grade closed at a premium of $20.69 to WTI futures. The gap expanded to $23.18 on Feb. 8, the widest since Nov. 26. U.S. gasoline supplies decreased 2.9 million barrels last week, the Energy Department said. They were projected to fall 900,000 barrels, according to the median estimate of 11 analysts in the Bloomberg survey. Distillate inventories, a category that includes heating oil and diesel, slid 2.3 million barrels, compared with a forecast 1.8 million barrel decline.

Gold Declines to Six-Month Low on Signs of Economic Improvement.
Gold futures slid to a six-month low in the worst losing streak in more than a year as signs of economic improvement curbed demand for a protection of wealth. Silver fell to the lowest since August and platinum dropped. Gold declined for a fifth session as global equities reached the highest since June 2008. The Federal Reserve will publish minutes of its Jan. 29-30 policy meeting today and Labor Department data on producer prices today and on consumer costs tomorrow will show inflation is in check, economists surveyed by Bloomberg said. “Bullion’s safe-haven properties as well as its traditional use in inflation hedges are irrelevant at this point,” Andrey Kryuchenkov an analyst at VTB Capital in London, wrote in a report. “The market’s attention is set to turn to the Federal Open Market Committee’s January minutes.” Gold futures for April delivery fell as much as 1 percent to $1,588 an ounce, the lowest since Aug. 2, and were at $1,592.60 on the Comex in New York. A fifth straight drop would be the longest run since December 2011. U.S. markets were shut Feb. 18 for the Presidents’ Day holiday. Futures trading volume was 53 percent above the average in the past 100 days for this time of day. Gold for immediate delivery was down 0.7 percent at $1,593.30 in London.

Metals on defensive; Fed puts investors on edge.
Copper hit a 2013 bottom as demand for commodities weakened and worries grew that the U.S. central bank might scale back its program of adding liquidity to the financial markets. Spot gold recovered from the seven-month lows of the previous day on technical buying, although some traders said it could be vulnerable to further losses. The world's largest gold-backed exchange-traded fund said it experienced its largest one-day outflow in 18 months in Wednesday's selloff. The Thomson Reuters-Jefferies CRB index, a global commodities benchmark, fell 1.2 percent for its sharpest one-day slide since early November. Fourteen of the 19 markets tracked by the CRB fell, with wheat, crude oil and nickel prices down at least 2 percent each. Most commodities had also tumbled on Wednesday after rumors that a hedge fund was liquidating positions pushed prices below key support levels. FED'S NEW COURSE PLAYS DEEPER INTO MARKETS The U.S. Federal Reserve added to the selling pressure in gold when minutes of its January policy meeting - suggested that it might slow or stop its asset buying program before a pickup in U.S. employment becomes evident. The Fed's rethink of its bond-buying program played a broader role in market sentiment on Thursday as a ream of weak U.S. data fueled skepticism about the bullish bets that some investors had placed on the economy since the start of the year

Currency Call Update of Yesterday

Dear all,
Our yesterday call of USDINR MOVE upto12 paisa from call given price.
And
Our Euro sell call all target done, sell call given @72.11 below and made low of  71.5125


Example :---

If we do trade in just 10 lot then ------

USDINR 10 lot * 0.12 = Rs.1200/-
and 
EURO 10 lot * 0.5925 = Rs.5925/-

Total profit would be 5925+1200 = Rs.7125/-

USDINR call update of yesterday

Our yesterday call of  USDINR all target done of 54.60 call given @ 54.20

example =>>>

If we trade in 10 lot only then profit would be  54.60-54.20=0.40
                                                         
                                                                                          10 lot * 0.40
                                                                                         = Rs. 4000/-
Required Investment only Rs.26000/-

TECHNICAL Impact

TECHNICAL Impact
USD INR (FEB– Expiry)
US dollar is looking strong on charts hence buying is recommended in USD.
Buy around 54.5000 with a SL 54.3500 possible targets of 54.7500/54.8500/54.9900.

EUR INR (FEB – Expiry)
Euro might fall further as technically looking weak.
Sell below 72.1125 with a SL 72.2100 possible targets of 72.0025/71.8800/71.7600.
OR
Buy above 72.2100 with a SL 72.1125 possible targets of 72.3325/72.4325/72.5500.

Currency Headlines
Yuan falls on speculations that Fed might cut monetary stimulus.
Yuan is hovering near two months low as the speculations have increased that the Federal Reserve might cut the monetary stimulus which has increased the pressure on high yield assets. The Dollar Index rose 0.75 percent yesterday, the most since July. The People’s Bank of China cut the daily yuan fixing by 0.07 percent to 6.2846 per dollar today. The yuan weakened 0.09 percent to 6.2433 per dollar, prices from the China Foreign Exchange Trade System show. It touched 6.2454 on Feb. 19, the lowest level since Dec. 14. Spot prices are allowed to diverge a maximum 1 percent from the reference rate. Westpac expects the currency to appreciate to 6.15 by the end of June. In Hong Kong’s offshore market, the currency fell 0.1 percent to 6.2400 per dollar

INVERTED H&S PATTERN IN SILVER

HERE YOU CAN SEE INVERTED HEAD AND SHOULDER PATTERN AND ALSO I DRAW A NECK LINE IF CROSS AND SUSTAIN ABOVE NECK LINE WE MAY GET THE DEEP OF NECK LINE TO HEAD BOTTOM.

currency view today

Market Commentary

Market Commentary
Oil Gains on German Investor Outlook; BofA Sees $140 Brent.
West Texas Intermediate oil in New York fluctuated after a report showed that rising investor confidence in Germany, the world’s fifth biggest crude importing country. Brent futures traded in London may be capped at $140 a barrel this year, according to Bank of America Merrill Lynch.WTI traded in a 91-cent-a-barrel range. The ZEW Center for European Economic Research in Mannheim said its index of investor and analyst expectations climbed to highest in almost three years. Brent will trade in a range of $100 to $130 a barrel through to 2015, according to Francisco Blanch, head of commodities research at Bank of America Merrill Lynch. “The market is consolidating between $95 and $98,” said Gene McGillian, an analyst and broker at Tradition Energy in Stamford, Connecticut. “The German economic sentiment data was good, which is providing a little support. Investors are waiting for the economic data point that will be the catalyst to break out of this range.” WTI futures for March delivery, which expire tomorrow, fell 11 cents to $95.75 a barrel on the New York Mercantile Exchange. The more-active April contract declined 19 cents to $96.22.
Gold Climbs From 6-Month Low in London; Platinum Advances.
Gold swung between gains and losses near a six-month low in London as investors weighed signs of improving economic growth against speculation that the biggest weekly drop since May will spur purchases. Platinum gained on reports of a shooting at an Anglo American Platinum Ltd. mine. The metal dropped 3.4 percent last week and holdings in gold-backed exchange-traded products fell the most since July in the period on growing confidence that the global economy is strengthening. Billionaire investor George Soros cut his gold ETP holdings last quarter, government filings showed last week. UBS AG said in a report today that its gold flows to India, the top buyer, were above average after the sell-off, and Morgan Stanley said it expects “bargain hunting” this week. “In the face of increasingly positive economic data and good stock market yields, the zero returns of gold and silver are looking more and more unattractive,” David Govett, head of precious metals at Marex Spectron Group in London, wrote in a report today. “Gold has been meandering aimlessly for a while now and needed a move one way or the other to wash out a lot of stale positions. We have seen the return of the Asian market and some physical buying, albeit light.” Gold for immediate delivery was little changed at $1,611.67 an ounce. Prices fell as much as 0.1 percent after rising 0.5 percent earlier today, and slid to $1,598.23 on Feb. 15, the lowest since Aug. 15. Futures for April delivery were 0.1 percent higher at $1,611.30 on the Comex in New York.
Copper Retreats as Slowing Industrial Production May Curb Demand.
Copper fell on speculation that slowing industrial production from Europe to the U.S. may curb demand and as inventories tracked by the London Metal Exchange reached the highest level since November 2011. Copper for three-month delivery fell as much as 0.2 percent to $8,280 a metric ton on the LME and traded at $8,286. The metal for delivery in March gained 0.2 percent to $3.765 a pound on the Comex in New York. Markets in China, the biggest consumer, are closed this week for the Lunar New Year holiday. Industrial production in France, Europe’s second-largest economy, probably declined 0.2 percent in December from the previous month, when it rose 0.5 percent, according to the median estimate of economists surveyed by Bloomberg before data today.
Industrial production in the U.S. may have risen 0.2 percent in January from a 0.3 percent gain in a month earlier, data may show this week.

Currency Headlines

Currency Headlines
Yen Rises After Aso Rules Out Japan’s Foreign-Debt Buying
The yen strengthened for the first time in three days against the dollar as Japanese finance minister Taro Aso said the government doesn’t intend to purchase foreign bonds to end deflation by weakening the currency.
The yen rose from near the weakest since May 2010 versus the U.S. currency as his comments countered those of Prime Minister Shinzo Abe who said yesterday buying foreign bonds “exists as one idea” for monetary policy. South Africa’s rand slid as clashes between labor unions at a mine spurred concern of a repeat of violence that curbed production last year. Australia’s dollar rose as the central bank said an improved global outlook spurred commodity prices.

The yen rose 0.4 percent to 93.61 per dollar at 9:56 a.m. in London after depreciating to 94.46 on Feb. 11, the weakest level since May 5, 2010. Japan’s currency gained 0.3 percent to 125.03 per euro. The euro was little changed at $1.3357.
Japanese officials have toned down calls for a weaker yen to help exporters after trade partners complained the nation risked setting off a currency war. Since Abe called for unlimited money printing by the central bank when he was opposition leader on Nov. 15, the yen has slid 13 percent against the dollar, the biggest drop among major currencies.
Pound Rises From 7-Month Low Before U.K. Jobless Report
The pound rose from the lowest level in more than seven months versus the dollar as economists said a report tomorrow will show U.K. unemployment claims dropped for a third month in January.

Britain’s currency was little changed against the euro before the Bank of England releases the minutes of its Feb. 7 meeting tomorrow. The pound weakened yesterday after central bank policy maker Martin Weale endorsed the currency’s decline, saying it may help bolster exports. U.K government bonds were little changed, with the 10-year yield about seven basis points from the highest level since April.
The pound gained 0.1 percent to $1.5487 at 10:11 a.m. London time after sliding to $1.5438 yesterday, the lowest since July 13. Sterling traded at 86.28 pence per euro.
Jobless claims declined by 5,500 from December, when they dropped 12,100 to 1.56 million, the lowest since June 2011, according to the median estimate of 24 analysts in a Bloomberg News survey. The London-based Office for National Statistics will release the data tomorrow.

The pound has depreciated 4.5 percent this year, the second-worst performer after the yen among 10 developed-market currencies tracked by Bloomberg Correlation-Weighted Indexes.

TECHNICAL INSIGHT USDINR FEB 2013
The pair has shown strong momentum on upside. Some Cool-Off can be expected after sharp up move in past few sessions.
Buy near 54.20 SL 54.05 TGT 54.40/54.60 OR Sell near 54.60 SL 54.75 TGT 54.40/54.20

EURINR FEB 2013
The pair may open with huge gap (Up or Down) as Forex market opens after 2 days, with global markets open during this period. Its prudent to take a bet after 1st hour of trade.

GBPINR FEB 2013
Forex market opens after 2 days, wait for 1st hour then take a view.

JPYINR FEB 2013
Given uncertainty in USDJPY globally, the pair can have Gap up OR Gap down open. Its better to take any call after watching the 1st hour of trade in USDINR