E

MCX DAILY LEVELS ✍

DAILY EXPIRY R4 R3 R2 R1 PP S1 S2 S3 S4

ALUMINIUM 31 AUG 2016 31975 91783 31591 31497 31399 31305 31207 31015 30823

COPPER 31 AUG 2016 330 327 324 323 321 320 319 316 313

CRUDE OIL 19 AUG 2016 3380 3345 3310 3289 3275 3254 3240 3205 3170

GOLD 05AUG 2016 31591 31478 31365 31292 31252 31179 31139 31026 30913

LEAD 31 AUG 2016 126 126 126 126 125 125 125 125 124

NATURALGAS 26 AUG 2016 194 188 182 179 176 172 170 164 158

NICKEL 31 AUG 2016 725 714 703 699 692 688 681 670 659

SILVER 05 SEP 2016 49860 48248 46636 45581 45024 43969 43412 41800 40188

ZINC 31 AUG 2016 159 157 155 154 153 152 151 150 148

MCX WEEKLY LEVELS ✍

WEEKLY EXPIRY R4 R3 R2 R1 PP S1 S2 S3 S4

ALUMINIUM 31 AUG 2016 166 161 157 155 153 151 148 144 140

COPPER 31 AUG 2016 340 334 327 325 321 318 314 308 301

CRUDE OIL 19 AUG 2016 4001 3736 3471 3362 3206 3097 2941 2676 2411

GOLD 05AUG 2016 32361 32043 31725 31565 31407 31247 31089 30771 30453

LEAD 31 AUG 2016 136 133 129 128 126 124 122 119 115

NATURALGAS 26 AUG 2016 200 192 184 179 176 171 168 160 152

NICKEL 31 AUG 2016 748 729 710 702 691 683 672 653 634

SILVER 05 SEP 2016 50815 49145 47475 46459 45805 44789 44135 42465 40795

ZINC 31 AUG 2016 166 161 157 155 153 151 148 144 140

Monday, 22 August 2016

WEEKLY MCX CALL

BUY NATBUY GOLD OCT ABOVE 31571 TGT 31764 SL 31393

SELL ZINC AUG BELOW 152 TGT 150 SL 154URAL GAS AUG ABOVE 178 TGT 186 SL 173

PREVIOUS WEEK CALL

BUY NATURAL GAS AUG ABOVE 178 TGT 186 SL 173 - CLOSED AT 177.30

FOREX DAILY LEVELS ✍

DAILY EXPIRY R4 R3 R2 R1 PP S1 S2 S3 S4

USDINR 29 AUG 2016 67.95 67.75 67.55 67.35 67.15 66.95 66.75 66.55 66.35

EURINR 29 AUG 2016 76.70 76.50 76.30 76.10 75.90 75.70 75.50 75.30 75.10

GBPINR 29 AUG 2016 88.80 88.60 88.40 88.20 88 87.80 87.60 87.40 87.20

JPYINR 29 AUG 2016 67.75 67.55 67.30 67.10 66.90 66.75 66.55 66.35 66.05

FOREX WEEKLY LEVELS✍

DAILY EXPIRY R4 R3 R2 R1 PP S1 S2 S3 S4

USDINR 29 AUG 2016 68.20 67.90 67.60 67.30 67 66.70 66.40 66.10 65..80

EURINR 29 AUG 2016 77 76.70 76.40 76.10 75.80 75.50 75.20 74.90 74.60

GBPINR 29 AUG 2016 89.20 88.90 88.60 88.30 88 87.70 87.40 87.10 86.80

JPYINR 29 AUG 2016 68.20 67.85 67.50 67.15 66.80 66.55 66.20 64.95 64.55

WEEKLY FOREX CALL

SELL JPYINR AUG BELOW 66.48 TGT 65.92 SL 67.01

BUY GBPINR AUG ABOVE 88.20 TGT 89 SL 87.60

PREVIOUS WEEK CALL

SELL JPYINR AUG BELOW 66.50 TGT 66 SL 67- NOT EXECUTED

NCDEX DAILY LEVELS✍

DAILY EXPIRY

DATE

R4 R3 R2 R1 PP S1 S2 S3 S4

SYOREFIDR 20-AUG-2015 674 669 664 661 660 657 655 651 646

SYBEANIDR 20-AUG-2015 3591 3548 3505 3477 3462 3434 3419 3376 3333

RMSEED 18-SEP-2015 4988 4922 4856 4813 4790 4747 4724 4658 4592

JEERAUNJHA 18-SEP-2015 19530 19155 18780 18545 18405 18170 18030 17655 17280

GUARSEED10 20-OCT-2015 3829 3769 3709 3678 3649 3619 3589 3529 3469

TMC 20-SEP-2015 7922 7856 7790 7754 7724 7688 7658 7592 7526

NCDEX WEEKLY LEVELS✍

WEEKLY EXPIRY

DATE

R4 R3 R2 R1 PP S1 S2 S3 S4

SYOREFIDR 20-AUG-2015 719 700 681 672 662 653 643 624 605

SYBEANIDR 20-AUG-2015 3961 3807 3653 3563 3499 3409 3345 3191 3037

RMSEED 18-SEP-2015 5118 5021 4924 4883 4827 4786 4730 4633 4536

JEERAUNJHA 18-SEP-2015 20748 19988 19228 18902 18468 18142 17708 16948 16188

GUARSEED10 20-OCT-2015 4183 4026 3869 3792 3712 3635 3555 3398 3241

TMC 20-SEP-2015 8815 8457 8099 7909 7741 7551 7383 7025 6667

WEEKLY NCDEX CALL

SELL RM SEED SEP BELOW 4770 TGT 4669 SL 4871

BUY SOYABEAN 3525 TGT 3592 SL 3459

PREIOUS WEEEK CALL

BUY RM SEED SEP ABOVE 4870 TGT 4950 SL 4819 - NOT EXECUTED

MCX - WEEKLY NEWS LETTERS

GLOBAL UPDATE✍

➢ Gold prices edged lower in European trade on Wednesday, reversing overnight gains as market

players looked ahead to minutes of the Federal Reserve’s July policy meeting, which many feared

could be more hawkish than the statement. Gold for December delivery on the Comex division of the

New York Mercantile Exchange shed $ 9.95, or 0.73%, to trade at $1,346.95 a troy ounce by 3:05 AM

ET, after rising $ 9.40, or 0.7%, on Tuesday. Investors will be focusing on minutes of the Federal

Reserve’s most recent policy meeting due at 2:00 PM. for further clarity on the timing of the next U.S.

rate hike.

➢ Gold edged back above $1,350 an ounce on Thursday as the dollar gave up earlier gains against a

currency basket, with uncertainty over the outlook for U.S. monetary policy continuing to underpin the

metal. Palladium slid, however, after surging more than 4 percent in the previous session in a rally

triggered by a wave of short-covering after recent hefty gains. The metal is testing support at the $700

an ounce level.

➢ Glencore has shelved plans to sell a copper mine in Chile that was expected to fetch about $500

million, after failing to achieve a high enough price, according to people familiar with the situation.

Along with other big mining companies, Glencore has been seeking to offload a range of assets to

reduce debt following a commodities price crash, but a rally on raw materials markets and in the value

of share prices of mining companies this year has taken away the need for urgent sales at any price.

➢ Extending gains for the second day, nickel prices advanced by 0.61% to Rs 689.30 per kg in futures

trading today as participants engaged in enlarging their positions, tracking a firm trend at spot market

on rising demand from consuming industries.At the Multi Commodity Exchange, nickel for delivery in

August month gained Rs 4.20, or 0.61% to Rs 689.30 per kg in business turnover of 1,893 lots.

➢ Taking weak cues from overseas markets, silver prices moved down by 0.22% to Rs 46,232 per kg

in futures trade today as participants cut down their bets.At the Multi Commodity Exchange, silver for

delivery in September declined by Rs 104 or 0.22% to Rs 46,232 per kg in business turnover of 646

lots.Likewise, the white metal for delivery in December contracts was trading lower by Rs 94 or

0.20% to Rs 47,353 per kg in 18 lots.

➢ Crude oil held gains in Asia on Friday with Brent comfortably above $50 a barrel as an output

freeze by key producers was said to be gaining traction, though vast global oversupply continues to

hang over the market. On the New York Mercantile Exchange, WTI crude for September delivery

gained 0.27% to 48.35 a barrel. On the Intercontinental Exchange, Brent crude for October delivery

inched up 0.06% to $50.92 a barrel. Overnight, Brent crude futures surged above $50 for the first time

since Fourth of July, while hitting its highest level in nearly two months, as global oil prices continued

to rally on the prospects that major producers could reach a deal to stabilize worldwide energy markets

at a closely-watched meeting next month.

GOLD✍

Gold prices advanced for a second day by gaining Rs 55 to Rs 31,130 per 10 grams at the bullion

market on Tuesday, tracking a firming trend overseas amid increased buying by Jeweller s to meet

rising demand from retailers at domestic spot market. Silver also recovered by Rs 500 to Rs 47,000 per

kg due to increased off-take from coin makers and other consuming industries.

Gold cut its gains on Tuesday after mixed US economic data failed to give clarity on the prospects for

a US interest rate rise this year and the US dollar pared losses from a seven-week low. US consumer

prices were unchanged in July as the cost of gasoline fell for the first time in five months and

underlying inflation moderated, while US housing starts unexpectedly climbed and industrial

production rose more than forecast in the same month.

Gold imports more than halved to $ 4.97 billion in the first four months of the current fiscal, which is

expected to keep a lid on the current account deficit. The sliding prices of the precious metal in both

global and domestic markets are seen as a contributory factor for the 52.5 per cent decline. Gold

imports stood at $ 10.47 billion in April-July of 2015. The in-bound shipments contracted for the sixth

consecutive month in July by 63.65 per cent to $1.07 billion, according to Commerce Ministry data.

The global economic crisis will continue to drive the demand for gold and silver worldwide. Bullion

experts at the India International Gold Convention organised by Foretell Business Solutions Limited

unanimously expressed that global demand will continue to remain strong, and price higher. It is also

expected that gold demand in India, which was declined in first half of calendar year 2016, will

increased in second half of the year. "Demand is expected to come back and price discounts expected

to narrow form October. The overall demand is expected to remain around 380 to 400 tonnes for

second half of calendar 2016 on account of increase in farmers' incomes, salary arrears to central

government employees under 7th Pay Commission and festive demand," said Debajit Saha, head of

bullion research at Foretell Business Solutions Pvt Ltd.Gold demand remained extremely poor in the

first half of current calendar year. Market had entered into dip discount, impacting official supply of

gold. Discount increased the moment government announced levy of the excise duty, which prompted

jewellers to go on a long strike. Three factors pulled demand down. High import duty incentivized

parallel imports. Announcement of excise duty and the subsequent strike, lead to destocking at

jewellers end. Last, unanticipated increase in price of gold in early 2016, pushed domestic prices and

drove demand out further, besides increasing scrap flows.

Physical gold demand in Asia improved modestly this week as consumers returned to the market ahead

of upcoming festivals in India and China when demand is usually high. In India, the world's second

biggest gold consumer, discounts narrowed as jewellers started buying for the festive season. Dealers

were offering a discount of up to $52 an ounce over the global spot benchmark XAU= , down from up

to $60 last week.

"Large jewellers have started building inventory for the upcoming festival season. In coming weeks,

demand is expected to pick up further if prices remain stable at the current level," said a Mumbai-

based bullion dealer with a global bank. India's gold demand may rise in the second half of 2016 after

falling to the lowest in seven years in the first half as monsoon rains spur rural demand during the peak

festive season, the World Gold Council said on Aug. 11. of gold demand in India comes from villages,

where jewellery is a traditional investment.

CRUDE OIL✍

Crude futures rose to fresh 1-month highs on Tuesday, ahead of the American Petroleum Institute's

weekly inventory report, as investors continued to weigh the possibility that discussions between

leading OPEC producers at an energy forum next could help stabilize global oil prices. On the New

York Mercantile Exchange, WTI crude for September delivery traded between $ 45.34 and $ 46.61 a

barrel before closing at $ 46.58, up 0.83 or 1.84% on the session. Since dipping below $40 a barrel

earlier this month, WTI crude has rallied more than 17% over the last two weeks. On the

Intercontinental Exchange, brent crude for October delivery wavered between $ 47.90 and $ 49.33 a

barrel, before settling at $ 49.32, up 0.95 or 1.95% on the day. At session-highs, brent futures reached

their highest level since July 7.

Oil prices fell in Asia on Wednesday in continued reaction to U.S, industry estimates of stockpiles last

week that showed gasoline inventories unexpectedly higher even as crude stocks fell. On the New

York Mercantile Exchange, WTI crude for September delivery fell 0.52% to $46.34 a barrel. On the

Intercontinental Exchange, Brent crude for October delivery dropped 0.73% to $48.87 a barrel. The

American Petroleum Institute reported a bigger-than-expected 1 million-barrel drop in U.S. crude

supplies that was unexpected, sources said, but gasoline supplies jumped 2.2 million barrels for the

week ended Aug. 12, a worrying demand signal well ahead of the end of the summer driving season.

President Nicolas Maduro said on Tuesday that Venezuela had struck $4.5 billion in mining deals with

foreign and domestic companies, part of plan to lift the OPEC nation's economy out of a deep

recession causing food shortages and social unrest. Maduro said the deals were with Canadian, South

African, U.S. and Venezuelan companies, but did not specify whether contracts had been signed or just

initial agreements.

The socialist leader, whose popularity hit a nine-month low in a survey published this week, said he

expected $20 billion in mining investment contracts to be signed in coming days and that 60 percent of

the income Venezuela received would be spent on social projects. Maduro hit back at critics from the

left who accuse him of riding roughshod over environmental rules and indigenous rights in the

Orinoco mineral belt in Venezuela's south in his rush to shore up his government's precarious finances.

The price of oil is jumping for a third consecutive day on after some reassurance for the markets that

oil's biggest players are working to try and stabilise the world's most important commodity. Both major

oil benchmarks are up by just less than 1% in early trading on Monday, with Brent crude, the

international benchmark higher by 0.94% to $47.41 per barrel. US West Texas Intermediate crude is up

by the same margin to trade at $44.91.

COPPER✍

Copper eased by 0.25 per cent to Rs 320.40 per kg in futures trade today today as traders trimmed

positions amid sluggish demand at the domestic spot markets. At Multi Commodity Exchange, copper

for delivery in August month declined by 80 paise, or 0.25 per cent to Rs 320.40 per kg in business

turnover of 870 lots. Similarly, the metal for delivery in November contracts shed 70 paise, or 0.21 per

cent to Rs 326.80 per kg in 26 lots.

Copper futures rose 0.48 per cent to Rs 326.95 per kg today as participants enlarged their positions,

taking positive cues from overseas markets and pick-up in spot demand. At the Multi Commodity

Exchange, copper for delivery in current month contract was trading higher by Rs 1.55 or 0.48 per cent

to Rs 326.95 per kg with a turnover of 1,469 lots.

Amid a firm global trend and pick up in demand at domestic spot market, copper prices traded higher

by 0.16% to Rs 317.60 per kg in futures trade today as speculators enlarged positions. At the Multi

Commodity Exchange, copper for delivery in August traded higher by 50 paise or 0.16% to Rs 317.60

per kg in business turnover of 323 lots.

NCDEX - WEEKLY NEWS LETTERS

GLOBAL UPDATE✍

National Commodity & Derivatives Exchange today said its cotton contract has performed well

registering a jump of 338 per cent at Rs 1,376.71 crore for the quarter till March 21, 2016. "Our cotton

contract has performed well and traded value jumped by 338 per cent at 1,376.71 crore for the quarter

till March 21, 2016 as against Rs 313.99 crore in the quarter ended December 2015," NCDEX said in

a statement here. As prices of pulses continue to rule high, the government on Tuesday decided to

further import 1 lakh tonnes of chana and masoor dals to boost domestic supply and check price rise.A

decision in this regard was taken in the meeting of an inter-ministerial committee, headed by

Consumer Affairs Secretary Hem Pande in New Delhi.

Sowing of kharif crops in the first week of August remained on track as rains continued to be plentiful

and acreage under most major crops such as rice, pulses, coarse cereals and oilseeds posted a rise

compared to the previous year. Total acreage under kharif crops till August 5 this year at 885.29 lakh

hectares compared to 841.65 lakh hectare sowed in the same period last year. Cotton was the only crop

where acreage declined considerably to 96.48 lakh hectare till August 5 this year compared to 105.68

lakh hectare in the same period last year. Many farmers sowing cotton switched to other crops because

of last year’s damage to the But cotton crop by white flies in Punjab and Haryana. Pulse acreage

continued to be high with total acreage in the period rising to 121.10 lakh hectare. Rice acreage

increased to 281.95 lakh hectare. Sowing of coarse cereals till August 5 rose to 163.77 lakh hectare

compared to 158.66 lakh hectare in the same period of the previous year. Oilseeds acreage too gained

at 167.58 lakh hectare. While sugarcane sowing increased marginally from 46.87 lakh hectare to 46.11

lakh hectare in the same period last year, jute sowing edged down to 7.55 lakh hectare to 7.73 lakh

hectare.

Agri commodity prices have started softening after reports of ‘above normal’ monsoon so far this

season, raising the prospects for better kharif crops. Government data showed 11 per cent decline in

the modal prices of moong dal this month; it currently sells in the wholesale market at Rs 80 a

kg.Masoor dal also reported a decline in its prices by 5.3 per cent at Rs 71 a kg. Urad dal and gram dal

also posted 7.7 per cent and seven per cent fall in their modal prices at Rs 133.83 a kg and Rs 93 a kg,

respectively. Tur dal, however, stabilised at Rs 130 a kg as on August 16.

Jeera prices rose 0.75% to Rs 18,160 per quintal in futures trading on Wednesday as participants raised

their bets, tracking a firm trend at spot market on rising domestic as well as exports demand. Further,

tight stocks position following lower supply from the producing belts too fuelled the uptrend. At the

National Commodity and Derivatives Exchange, jeera for delivery in August contracts rose by Rs 135

or 0.75%, to Rs 18,160 per quintal with an open interest of 273 lots.

SOYABEAN✍

Soyabean futures traded lower by Rs 35 to Rs 3,734 per quintal today after traders trimmed their

positions, tracking a weak trend overseas. At the National Commodity and Derivative Exchange,

soyabean for delivery in far-month February month slipped by Rs 35, or 0.93 per cent to Rs 3,734 per

quintal, clocking an open interest of 2,100 lots. In a similar manner, soyabean for delivery in most-

active October month receded by Rs 20, or 0,56 per cent to Rs 3,575 per quintal having an open

interest of 53,530 lots.

Majority of oils in Indore mandis have been witnessing an uptrend on strong global cues and improved

domestic demand with soya refined being quoted at Rs.650-55, while soya solvent ruled at Rs. 615-

620 up 15. Cotton oil also ruled higher at Rs. 700 up 20 from last week. Similarly, palm oil also gained

higher at Rs. 665 up 40, while groundnut oil ruled at Rs.1,470-75 1,440-60. Amid negligible arrival,

mustard seeds ruled flat at Rs. 4,250-4,300 a quintal, while raida was quoted at Rs.4,200-50. Plant

deliveries of mustard oil for Jaipur line were also quoted lower at Rs. 5,060-65.

Rise in duty on imported oils by the Centre lifted soya oil in Indore mandis. In private trading, soya

refined ruled at Rs.635-40, while soya solvent rose to Rs.600-605. Soyabean remained flat Rs.3,700

on subdued demand, while plant deliveries also ruled steady at Rs.3,750. Given enthusiastic crop

report, rally in soybean appears unlikely in the coming days. Soyameal ruled firm at Rs. 33,000-

35,000 a quintal on improved domestic demand.

CHANA✍

The active chana futures hit the upper circuit to close at a record high of Rs 5,543 a quintal on Friday

despite the arrival season having got under way. Brokers and traders attributed the jump to production

expected to be two-fifths below last year's 87 lakh tonnes. Traders were also comforted by fears of a

ban in chana futures getting allayed by a regulatory clarification. Rather, the regulator directed

NCDEX, which offers chana futures, to raise the margin on buyers to 45% from 20% effective April

22. So despite the special cash margin kicking in on Friday, chana hit a record high.

TURMERIC✍

At Erode market, finger prices traded at Rs.8500ql and bulb prices at Rs.8100/ql and arrivals were at

2198 bags. Sowing has continued to progress on a firm note in Telangana and Andhra Pradesh. Sowing

coverage as on 17th Aug 2016 in Telangana was at 44919 hec, higher by 15% y/y while it is higher by

8% y/y in Andhra Pradesh. The prices of turmeric are moving sideways to down due to mixed

fundamentals of good sowing acreage coupled with declining supplies. The Sep’16 delivery contract

on NCDEX closed 0.18% higher to settle at Rs 7,694 per quintal. The demand from the industrial may

support prices. Turmeric acreage in Telangana as on 17 Aug was up 15.4 % at 45,000 hectares as

compared to 39,000 hectares last year. Sowing of turmeric is over in 93 per cent of normal area and up

by 110 % of normal sowing area. As per dept of commerce data, turmeric exports in April- May 2016

increased by 31% compared to last year at 21,256 tonnes. In 2015-16, 85,426 tonnes exported

compared to 90,738 tonnes in 2014-15. Major export destinations in 2015-16 are Iran, Malaysia, UAE,

USA and Srilanka. The arrivals in the main physical markets such as Nizamabad, Duggirala (AP),

Salem, Erode and Sangli reported decreasing. There is expectation of lower arrivals and good

upcountry demand may lend support in coming weeks.

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