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COMMODITY MARKET STRATEGY 30 JULY 2014
BASE METAL WRAP:
Copper prices slipped on Tuesday, as prospects of growing supplies
overshadowed encouraging signs of health in the global economy, and zinc
retreated after hovering near three-year highs on expectations of a tightening
market.
ENERGY WRAP:
West Texas
Intermediate crude traded near the lowest price in two weeks before government
data that may signal the strength of fuel consumption in the U.S., the world’s
biggest oil user. Brent fell in London.
PRECIOUS METAL WRAP:
Gold traded near the
lowest level this week and was poised for a monthly decline as signs that U.S.
economic growth is gaining momentum countered haven demand from increased
tension in Ukraine and Gaza.
GLOBAL EVENTS TO WATCH:
German Prelim CPI
m/m, ADP Non-Farm Employment Change, Advance GDP q/q, Advance GDP Price Index
q/q, Crude Oil Inventories, FOMC Statement, Federal Funds Rate.
Markets open flat; L&T down over 6%
ITC, Bharti Airtel, Infosys and Reliance
Industries among the top gainers
After opening in red, the
benchmark indices moved into the green territory on account of gains in
heavyweights like ITC, Bharti Airtel, Infosys and Reliance Industries.
At 0920 hrs, the Sensex was up nine points at 25,999 and the Nifty was unchanged at 7749.
The broader markets were flat with a positive bias.
At 0920 hrs, the Sensex was up nine points at 25,999 and the Nifty was unchanged at 7749.
The broader markets were flat with a positive bias.
Sectors & Stocks
On the sectoral
front, Capital Goods index was the top loser down 4% along with Realty and Metal
indices down 0.4% each.
A 6% cut on L&T dragged the capital goods index lower as the performance of engineering and construction major’s core business in the June quarter disappointed the Street, as execution remained weak in the domestic business.
Apart from L&T, Sesa Sterlite, Hindustan Unilever, Tata Steel, BHEL, Maruti Suzuki and Sun Pharma were some of the notable names in red, down 0.2-2%.
Among the gainers was Bharti Airtel up 4% after reporting 61% year-on-year jump in consolidated net profit at Rs 1,108 crore for the first quarter.
A 6% cut on L&T dragged the capital goods index lower as the performance of engineering and construction major’s core business in the June quarter disappointed the Street, as execution remained weak in the domestic business.
Apart from L&T, Sesa Sterlite, Hindustan Unilever, Tata Steel, BHEL, Maruti Suzuki and Sun Pharma were some of the notable names in red, down 0.2-2%.
Among the gainers was Bharti Airtel up 4% after reporting 61% year-on-year jump in consolidated net profit at Rs 1,108 crore for the first quarter.
COMMODITY MARKET OUTLOOK 28 JULY 2014
Agri Commodity Market
CS CHANA (AUGUST) OVERVIEW:TREND CONSOLIDATE
SUP1:2795
SUP2:2740
RESIST1:2900
RESIST2:2926
TRADING STRATEGY: SELL ON RISE
WWW.CAPITALSTARS.COM +917316790000
CS JEERA (AUGUST) OVERVIEW:
TREND CONSOLIDATE
SUP1:11250
SUP2:11000
RESIST1:11620
RESIST2:11780
TRADING STRATEGY: SELL ON RISE
WWW.CAPITALSTARS.COM +917316790000
CS TURMERIC (AUGUST) OVERVIEW:
TREND CONSOLIDATE
SUP1:6420
SUP2:6316
RESIST1:6600
RESIST2:6700
TRADING STRATEGY: BUY ON DIPS
WWW.CAPITALSTARS.COM +917316790000
CS SOYABEAN (OCTOBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:3660
SUP2:3600
RESIST1:3750
RESIST2:3860
TRADING STRATEGY: SELL ON RISE
WWW.CAPITALSTARS.COM +917316790000
bullion Commodity market
CS COPPER (AUG) OVERVIEW:
TREND CONSOLIDATE
SUP1:430
SUP2:425
RESIST1:437
RESIST2:440
TRADING STRATEGY: BUY ON DIPS
WWW.CAPITALSTARS.COM +917316790000
CS CRUDE (AUGUST) OVERVIEW:
TREND CONSOLIDATE
SUP1:6090
SUP2:6010
RESIST1:6230
RESIST2:6300
TRADING STRATEGY: SELL ON RISE
WWW.CAPITALSTARS.COM +917316790000
CS GOLD (AUG) OVERVIEW:
TREND CONSOLIDATE
SUP1:27550
SUP2:27300
RESIST1:28100
RESIST2:28400
TRADING STRATEGY: BUY ON DIPS
WWW.CAPITALSTARS.COM +917316790000
CS SILVER (SEPTEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:43600
SUP2:42900
RESIST1:44800
RESIST2:45300
TRADING STRATEGY: SELL ON RISE
WWW.CAPITALSTARS.COM +917316790000
TREND CONSOLIDATE
SUP1:430
SUP2:425
RESIST1:437
RESIST2:440
TRADING STRATEGY: BUY ON DIPS
WWW.CAPITALSTARS.COM +917316790000
CS CRUDE (AUGUST) OVERVIEW:
TREND CONSOLIDATE
SUP1:6090
SUP2:6010
RESIST1:6230
RESIST2:6300
TRADING STRATEGY: SELL ON RISE
WWW.CAPITALSTARS.COM +917316790000
CS GOLD (AUG) OVERVIEW:
TREND CONSOLIDATE
SUP1:27550
SUP2:27300
RESIST1:28100
RESIST2:28400
TRADING STRATEGY: BUY ON DIPS
WWW.CAPITALSTARS.COM +917316790000
CS SILVER (SEPTEMBER) OVERVIEW:
TREND CONSOLIDATE
SUP1:43600
SUP2:42900
RESIST1:44800
RESIST2:45300
TRADING STRATEGY: SELL ON RISE
WWW.CAPITALSTARS.COM +917316790000
