Currency View of Today

CALL UPDATE OF CURRENCY

OUR CURRENCY CALL USDINR AND EUROINR ALL TARGET ACHIEVED 

USDINR CALL GIVEN @54.76 MADE HIGH  55.2075 OUR TGT WAS--54.98
EUROINR CALL GIVEN @71.70 MADE HIGH  71.9950 OUR TGT WAS--71.99

EXAMPLE :--->

10 LOT TRADE  IN BOTH CURRENCY.

USDINR 54.98-54.76 = 22 PAISA 

= 22*10 LOT = RS.2200/-

EUROINR 71.9850-71.70 = 28.50 PAISA

=28.50*10 LOT = RS. 2850 /-

2850+2200 =  RS.5050/-

NEED INVESTMENT OF  RS.25000/- ONLY

USD & EURO UPDATE

USDINR  Post the unexpected rise, expect very high choppiness and its prudent to wait For 1st hour then initiate a trade. BETTER to be in buy side till 54.83/89/95/98  from 54.98 selling expected.

EUROINR Impact of USDINR moves will be felt on this pair also. Wait & Watch for 1st hour Is strategy for this pair also. resistance 71.75 /71.85/71.99

COMMODITIES UPDATES

  Gold Apr'13 Below 29513 expect sharp Fall. On Upside 29699 is good resistance.

Silver Mar'13  Sell on Rise near 53672 SL 54020 TGT 53200

Aluminum MAR'13 Sell near 109.6 SL 110.4 Tgt 108.6 107.6

Copper APR'13 Buy on dips near 426 SL 423 TGT 428/433 OR Sell on Rise near 433.6 SL 436 TGT 428

Lead MAR'13 Buy on dips near 122.8 SL 122.2 TGT 124.2/125.3 OR Sell on Rise 125.9 SL 126.7 TGT 124.2

Nickel MAR'13 Sell near 917.7 SL 926 TGT 902.6/ 893.6 OR Buy near 893.6 SL 883 TGT 902.6/917.7

Zinc MAR'13  Major selling can be expected

Market Commentary

Market Commentary
Crude Fluctuates as U.S. Economy Grows Less Than Expected.
West Texas Intermediate fluctuated as the U.S. economy grew less than economists forecast in the fourth quarter and jobless claims fell last week. Prices were poised for the first monthly drop since October as gross domestic product grew at a 0.1 percent annual rate, revised figures from the Commerce Department showed. The median forecast called for a 0.5 percent gain in a Bloomberg survey. Jobless claims decreased 22,000 from a week ago, the Labor Department reported. “The GDP number is adding some negative sentiment to the market but the jobless claims number is lending some support,” said Gene McGillian, an analyst and broker at Tradition Energy in Stamford, Connecticut. “The market is trying to stabilize.” WTI for April delivery fell 7 cents to $92.69 a barrel on the New York Mercantile Exchange. Prices are down 4.9 percent this month. The volume of all futures traded was 16 percent below the 100-day average for the time of day. Brent for April settlement gained 30 cents, or 0.3 percent, to $112.17 a barrel on the London-based ICE Futures Europe exchange. Volume was 37 percent above the 100-day average. The European benchmark crude’s premium over WTI widened for the first time in three days to as much as $19.72.
Gold Demand in India Seen Rebounding After Import Tax Maintained.
Gold demand in India, the world’s biggest user, is poised to climb after the government unexpectedly refrained from raising import taxes and as prices headed for a fifth monthly decline. Finance Minister Palaniappan Chidambaram refrained from boosting the tax from 6 percent after it was tripled in the past year to curb demand. All India Gems & Jewellery Trade Federation, a grouping of retailers, traders and exporters, had predicted the duty to climb to 8 percent. The “status quo” on taxes is a good sign for the industry and will attract people to gold, said Bachhraj Bamalwa, chairman of the federation. India has boosted taxes from as low as 2 percent in January last year after the current-account shortfall, the broadest measure of trade, widened to an all-time high and the rupee slumped to a record. Overseas purchases dropped 11 percent last year from a record in 2011, the World Gold Council estimates. Imports probably slumped as much as 50 percent to 40 tons this month from January, Bamalwa said yesterday.
Copper Swings Between Gains and Declines Amid Lack of Demand.
Copper swung between gains and drops in London, set for a second monthly slide in three, as investors weighed better-than-expected U.S. economic figures against a lack of physical demand. Aluminium fell for a ninth session. U.S. orders for durable goods rose the most in a year in January excluding transportation and pending home sales climbed more than forecast, reports showed yesterday. Global copper usage expanded 1 percent last year, below the 10-year average of 3 percent, according to Macquarie Group Ltd. Copper stockpiles tracked by the London Metal Exchange swelled for a fifth month. “The U.S. is not a big swing factor in base-metals demand,” said Guy Wolf, a macro strategist at Marex Spectron Group in London. “It’s much more about China. In base metals, there’s been limited physical demand all year.” Copper for delivery in three months slipped 0.1 percent to $7,862 a metric ton by 10:58 a.m. on the LME after climbing as much as 0.8 percent. Prices are down 3.7 percent this month. Copper for May delivery rose 0.1 percent to $3.572 a pound on the Comex in New York.

NIFTY UPDATE

Nifty future opened positive and traded with slight negative momentum for entire session, to finally close down by 1.81% at 5692.
Overall breadth is positive as there were 18 advances vs. 134 declines in F&O segment.
Nifty futures may trade sideways with slight negative bias in short term. Nifty future supports lies at 5665. While resistance lies at 5770.
Among major sector indices, Banknifty futures closed down by 3.76% while Cnxit futures closed down by 0.37%.
Nifty futures have witnessed rollover of 54.46%.
Maximum rollover is witnessed in stock futures like Mcleadruss, Jswsteel, Bharatforg, Nhpc and Mcdowell-N.
Put Call Ratio (Volume) is at 0.85.
Volatility index closed at 16.23 down by 6.51%.
Among Nifty options data of March series, significant buildup among put strike is seen at 5700, which may act as support.
Significant OI build up is witnessed in Nifty Feb series 5800 and 5900 call strikes.
Among Nifty Feb put options, 5600 and 5700 strike has witnessed OI buildup.
Infrastructure sector closed down by 7.7%, losses were contributed by Gmrinfra, Gvkpil, Irb and Ivrclinfra.
Power sector stocks have witnessed selling. Losses are witnessed in Adanipower, Jppower, Jswenergy, Ptc, Relinfra, Rpower and Suzlon.
Automobile, Fertilisers and Textile sector stocks witnessed maximum OI action.

STATE BANK OF INDIA

SBI seems to have found support near mentioned neckline support zone..If it continues to hold the same...it can see initial bounce up to 2125. To have a 60-70 pts additional volume action, SBI should breach 2041-2125 range. breakdown can lead to test of given support. Breakout can take it to 2180/90.

COMMODITIES CALL OF THE DAY

GOLD  Below 29614 it gets Weak and  major strength can be above 29872. USDINR move will  directly impact GOLD, till 5:00 PM

 

  SILVER  Chances of Open with gap. 54193 Is near hurdle and below 53381 it 

Aluminum MAR'13    Among the Weakest Commodities. Sell on Rise. Sell near 108.6 SL 109.4 TGT 107.6/106.6

 

 

CrudeMar'13    Sell near 5052 SL 5082 TGT 5089

 

 

 

 

Copper APR '13 Buy on dips near 426 SL 423 TGT 428/433 OR Sell on Rise near 433 SL 463 TGT 428

 

Market Commentary of commodities

Market Commentary

WTI Oil Rises as U.S. Economic Data Exceed Forecasts

.

West

Texas

Intermediate

oil in New York rose as U.S. durable goods and housing data exceeded forecasts, signs

an economic rebound may spur fuel demand.

Futures climbed as much as 0.8 percent after data bolstered

confidence for growth in the world’s largest crude

-

consuming countr

y. U.S. crude supplies increased 1.13 million

barrels in an Energy Information Administration report, less than the 2.5 million

-

barrel gain projected in a

Bloomberg survey of 10 analysts. Stockpiles reached 377.5 million barrels, the highest level since Ju

ly.

Crude oil

for April delivery climbed 51 cents, or 0.6 percent, to $93.14 a barrel at 12:34 p.m. on the

New York Mercantile

Exchange

. The contract traded at $92.85 before the releas

e of the EIA report

in Washington. The volume of all

futures traded was 11 percent below the 100

-

day average. Prices have gained 1.4 percent this year and have

declined 4.5 percent this month.

Brent for April settlement slipped 15 cents to $1

12.56 a barrel on the London

-

based ICE Futures Europe exchange. The contract is down 2.6 percent this month. The volume of all futures traded

was 1.9 percent lower than the 100

-

day average for this time.

The European benchmark crude was at a $19.42

premium

to WTI futures, down from $20.08 yesterday

.

Gold Heads for Longest Run of Monthly Declines Since 1997

.

Gold futures dropped, heading for the longest run of monthly declines in 16 years, as confidence that the

U.S.

economy

is recovering curbed demand for the metal as an investment hedge.

In January, an index of pending home

resales in the U.S. increased to highest since April 2010, and a measure of durable

-

goods orders climbed the most

in a year, sep

arate reports showed today. Yesterday, gold jumped the most in three months as Federal Reserve

Chairman

Ben S. Bernanke

defended monetary stimulus.

“The safe

-

haven premium is definitely falling,” V

edant

Mimani, a portfolio manager at Atyant Capital Management Ltd. in Miami, said in a telephone interview. “Also,

some people are booking profit after yesterday’s big gain.”

Gold futures for April delivery fell 0.9 percent to

$1,601.50 an ounce

on the Comex in New York. This month, the price has declined 3.6 percent, poised for the fifth

straight drop and the longest slump since January 1997.

The index of pending

-

home resales increased 4.5 percent

to 105.9, a report from the National Associa

tion of Realtors showed. The median forecast in a Bloomberg survey

called for a 1.9 percent advance. Government data showed that orders for durable goods excluding transportation

equipment climbed 1.9 percent, exceeding all forecasts in another survey.

“In

vestors have the tendency to buy less

of the precious metal in an environment where growth is stabilizing,” analysts at Credit Suisse Group AG’s

private

-

banking unit said today in a report.

Holdings in exchange

-

traded funds backed by gold fell to a five

-

mo

nth

low of 2,530 metric tons yesterday, data compiled by Bloomberg show. This month, they have dropped 3.1

percent, the most since April 2008.

Silver futures for May delivery declined 0.8 percent to $29.095 an ounce.

Volume was 66 percent above the average

in the past 100 days for this time

.

Nickel and

Aluminium

Drop as China Manufacturing Expansion Slows

.

Nickel extended the biggest weekly drop since 2011 in London and

aluminium

fell after f

igures showed

manufacturing is expanding at the slowest pace in four months in China, the world’s largest consumer of the

metals. A

Purchasing Managers’ Index gave a preliminary reading of 50.4 for February, a statement from HSBC

Holdings Plc and Markit Ec

onomics showed today. That compared with January’s final level of 52.3. Voting 

stations close at 3 p.m. local time in Italy, where former Prime Minister

Silvio Berlusconi

has promised to overturn

tax increases if he is returned to office.

“The majority of

metal prices are continuing to show weakness,”

Daniel

Briesemann, an analyst at Commerzbank AG in Frankfurt, said by e

-

mail today. “Besides the restraint being

exercised by market players on account of the Italian elections,” the Chinese gauge was “doubtle

ss also weighing

on sentiment,” he said. Nickel for delivery in three months slid 0.8 percent to $16,832 a metric ton by 10 a.m. on

the London Metal Exchange. Copper climbed 0.5 percent to $7,841 a ton after dropping the most since December

2011 last week

and the metal for delivery in May rose 0.3 percent to $3.562 a pound on the Comex in New York

 

 

 

.

 

commodities view

Gold   --> Buy near 29554 SL 29488 TGT 29660/29746

Silver  -->It should sustain above 54192 for further up side. Below  54510, the downtrend can resume

Crude Oil  -->Its in downtrend. Support near 5000. Sell near 5096 SL 5126 TGT 5033/5006

Zinc  -->Buy near 111.3 SL 110.6 TGT 112.4/113.5 OR Sell near 113.5 SL 114.3 TGT 112.4/111.9