Commodity Market Tips

Bullion prices held onto small gains after an industry health check aimed at reviving investor confidence showed that eight European banks are not strong enough to withstand a prolonged recession and need to raise 2.5 billion euros in capital. Gold's gains appeared limited after U.S. Federal Reserve Chairman Ben Bernanke said on Thursday the central bank was prepared to act if the recovery faltered, but made clear the Fed was not at that point. 

Now technically market is trading in the range as RSI for 18days is currently indicating 67.28, where as 50DMA is at 22467.24 and gold is trading above the same and getting support at 23023 and below could see a test of 22976 level, And resistance is now likely to be seen at 23104, a move above could see prices testing 23138.

Trading Ideas:

Gold trading range is 22976-23138.

Gold gained as some began to seek a hedge against the growing threat of a catastrophic U.S. govt default

Gold looks to take support at 22873 and resistance at 23072.

Spdr gold trust holdings rose by 10.60 tonnes to 1236.01 tonnes.

Silver gained higher as worries over U.S. and European nation debt issues intensified. Ratings agency Standard & Poor's warned there is a one-in-two chance it could cut the United States' prized AAA credit rating if a deal on raising the government's debt ceiling is not agreed soon. Holdings of the largest gold-backed exchange-traded-fund (ETF), New York's SPDR Gold Trust and that of the largest silver-backed ETF, New York's iShares Silver Trust remained unchanged.

Silver is completing a strong up week at 58473. Key resistance is nearby at 59200 from the May reactionary high post bubble bounce. Above here we run into the 50% bubble bounce level at 61000. We now see good support for silver near 56800. The gold silver ratio broke the down side of our two month consolidation triangle this week at 41.40. The ratio has continued lower to current 40.75. 

While below the former triangle support we see risk for a drop back to 39.22. Now technically market is trading in the range as RSI for 18days is currently indicating 65.64, where as 50DMA is at 54946.44 and silver is trading above the same and getting support at 58262 and below could see a test of 58051 level, And resistance is now likely to be seen at 58622, a move above could see prices testing 58771.

Trading Ideas:

Silver trading range is 58051-58771.

Silver gained higher as worries over U.S. and European nation debt issues intensified

Silver is having resistance at 58651 and support at 57036 level.

In spot silver looks to hold support at 38.20$ and getting resistance at 40.20$ level. 

Crude rose lifted by lower oil supplies from Canada and higher U.S. equities, to post their third straight weekly gains, outweighing the day's bleak economic reports. Germany and Italy are expected to oppose any second release of emergency oil reserves by the International Energy Agency, which needs the backing of all 28 members if it is to pour more oil on a volatile crude market. Libya is not ready to start pumping oil from fields held by rebels in the east of the country. Oil gains on U.S debt fears, low inflation. Moody’s Investors Service put the U.S. 

Aaa credit rating on review for a downgrade on July 13 citing concern officials won’t raise the nation’s $14.3 trillion debt limit in time to prevent a missed payment. Now technically market is trading in the range as RSI for 18days is currently indicating 50.48, where as 50DMA is at 4379.92 and crude is trading below the same and getting support at 4322 and below could see a test of 4314 level, And resistance is now likely to be seen at 4335, a move above could see prices testing 4340.

Trading Ideas:

Crude trading range is 4314-4340.

Crude rose lifted by lower oil supplies from Canada and higher U.S. equities

Crude looks to test support at 4253 and resistance is seen at 4356.

Germany and Italy are expected to oppose any second release of emergency oil reserves by the IEA. 

Copper ended up showing a further resilience to bend amid macro-economic concerns and a still-uncertain Asian demand outlook. Copper's positive tone continued to decouple from the broader base complex as prices maintained momentum near last week's 3-month high, as supply-side risks remained in place and investors continued to pin their hopes on a second-half demand revival in China. 

Copper held on to its gains late in the session after results of European bank stress tests showed 8 of 90 banks had failed, roughly in line with expectations. The tests did not build in the impact of a Greek default, and all big banks passed. 

Copper inventories in warehouses monitored by the Shanghai Futures Exchange rose 22.3 percent from last Friday, the exchange said on Friday. Copper yesterday traded with the positive node and settled 0.02% up at 435. Some support had been seen from the LME stock also which came up by 0mt, the total stock at LME is now at 462025mt.

In yesterday's trading session copper has touched the low of 434.75 after opening at 434.8, and finally settled at 435. For today's session market is looking to take support at 434.8, a break below could see a test of 434.5 and where as resistance is now likely to be seen at 435.3, a move above could see prices testing 435.5.

Trading Ideas:

Copper trading range is 434.5-435.5.

Copper gained showing resilience to bend amid macroeconomic concerns and uncertain Asian demand outlook

Copper is taking resistance at 437.10 and support is seen at 431.70.

Copper inventories in warehouses monitored by the Shanghai Futures Exchange rose 22.3 percent.

Zinc prices gained as monthly rate of the US industrial output rose 0.2% in June supporting the prices. Zinc prices made some headway in June and are expected to remain resilient in coming months, even though the market is in clear supply surplus and inventories will continue to rise.

Mcx Trial Tips For Today

In yesterday's trading session Crude Palm oil has touched the low of 482.5 after opening at 482.5, and finally settled at 485.6. For today's session market is looking to take support at 483.3, a break below could see a test of 481 and where as resistance is now likely to be seen at 487.1, a move above could see prices testing 488.6.

Trading Ideas mcx tips :

Crude Palm Oil trading range is 481-488.6.

Crude palm oil prices moved up on the back of a rise in spot market demand

Resistance for crude palm oil is at 487.10 level

Support for crude palm oil is at 483.30 level.

Crude palm oil prices in spot market dropped by rupees 1.10 and settled at 483.40 rupees. 

Wheat yesterday traded with the negative node and settled -0.66% down at 1168.8 tracking weakness in spot market. 

The pre-monsoon showers have drenched wheat stocks in several places in Punjab and Haryana and the cycle of rot has begun once again. Punjab and Haryana account for more than 60 per cent of India's total food grain produced every year. In Delhi wheat prices dropped -4.5 rupee to end at 1175.3 rupees per 10 kg. 

In yesterday's trading session Wheat has touched the low of 1168 after opening at 1175.6, and finally settled at 1168.8. For today's session market is looking to take support at 1165.8, a break below could see a test of 1162.8 and where as resistance is now likely to be seen at 1174, a move above could see prices testing 1179.2.

Trading Ideas for commodity tips :

Wheat trading range is 1162.8-1179.2.

Wheat yesterday traded with the negative node and settled 0.66% down tracking weakness in spot market

Wheat is having resistance at 1174 and support at 1165.80 level.

NCDEX accredited warehouses wheat stocks rose by 229 tonnes to 33047 tonnes. 

In Delhi wheat prices dropped -4.5 rupee to end at 1175.3 rupees per 10 kg. 

Mustardseed yesterday traded with the positive node and settled 0.56% up at 2886 on short covering tracking gains in other oilseed counters. The total arrivals of mustard seed decreased by 10000 bags from the previous day to 1.20 lakh bags in major mandies. 

In the Sriganganagar spot market in Rajasthan the price edged down by -8.75 rupee to 2770 rupees per 20 kgs. In yesterday's trading session Mustardseed has touched the low of 2852 after opening at 2866, and finally settled at 2886. 

For today's session market is looking to take support at 2862, a break below could see a test of 2838 and where as resistance is now likely to be seen at 2900, a move above could see prices testing 2914.

Trading Ideas:

Mustard Seed trading range is 2838-2914.

Mustardseed yesterday traded with positive node on short covering tracking gains in other oilseed counters

Mustardseed looks to take support at 2862 and resistance at 2900.

NCDEX accredited warehouses mustardseed stocks rose by 162 tonnes to 177531 tonnes. 

In the Sriganganagar spot market in Rajasthan the price edged down by -8.75 rupee to 2770 rupees per 20 kgs.

Mcx Tips On Mobile Free

LEAD (May)

Above 112.10looks good... Last week after a made a low 109 it was made a high of 115.80 and finally closed above 114 level. Over all trend is bullish and consider resistance 118 in near term. 

NICKEL (May)

Strong volatile and smart recovery from the level of 1005 and finally made a high of 1066 but managed to closed below 1044 range. Now it this week consider support 1035-1038 range trade and sustained below weakness continue, higher level it will show strength above 1070 range. 

 ALUMINIUM (May)

Last week we are bullish this counter above 115.......Now in this week consider support 116.10 remain above positive bias... resistance exit 120-120.50 range. 

NATURAL GAS (JUNE )

Above 200 looks very hot.. and sharp and fresh up move above 210, if crossover and stay with volume may test 220 region in near term.

In yesterday's trading session Ref Soyaoil has touched the low of 653.25 after opening at 661.4, and finally settled at 653.7. For today's session market is looking to take support at 650.8, a break below could see a test of 648 and where as resistance is now likely to be seen at 659, a move above could see prices testing 664.3.

Trading Ideas As Mcx Tips On Mobile Free :

Ref soyaoil trading range is 648-664.3.

Ref Soyaoil yesterday traded with the negative node amid a weak global trend

Ref Soya oil looks to take support at 650.80 level

Ref Soya oil having resistance at 659.20 level

At the Indore spot market soyoil edged down by -1 rupee to 652.3 rupees 10 kgs.

Crude Palm oil yesterday traded with the negative node and settled -1.26% down at 527 as traders booked profits at existing high levels, driven by subdued spot market demand. Also, a weakening trend overseas influenced the trading sentiment. 

Malaysia’s palm oil production in April expanded 8 percent to 1.53 million tons from March, the nation’s palm oil board said on May 10. It will report May data on June 10.In yesterday's trading session Crude Palm oil has touched the low of 526.2 after opening at 533.8, and finally settled at 527. 

For today's session market is looking to take support at 524.2, a break below could see a test of 521.3 and where as resistance is now likely to be seen at 531.9, a move above could see prices testing 536.7.

Trading Ideas:

Crude Palm Oil trading range is 521.3-536.7.

Crude Palm oil yesterday traded with the negative node as traders booked profits at existing high levels

Resistance for crude palm oil is at 531.90 level

Support for crude palm oil is at 524.20 level.

Crude palm oil prices in spot market fell by -7.20 rupees and settled at 529.10 rupees.

Wheat yesterday traded with the negative node and settled -0.08% down at 1192.8. Government agencies and private millers procured more than 110.40 lakh tonnes of Wheat whereas 102.17 lakh Tonnes wheat procured last year. China, the world's top wheat producer, is likely to reap a bumper wheat harvest in 2011 despite drought earlier this year in most of its wheat-growing areas in the north, the agriculture ministry said. 

In Delhi wheat prices gained 1.3 rupee to end at 1190.9 rupees per 10 kg. In yesterday's trading session Wheat has touched the low of 1192 after opening at 1192.2, and finally settled at 1192.8. For today's session market is looking to take support at 1191.6, a break below could see a test of 1190.4 and where as resistance is now likely to be seen at 1194.4, a move above could see prices testing 1196.

Trading Ideas:

Wheat trading range is 1190.4-1196.

Government agencies and private millers procured more than 110.40 lakh tonnes of Wheat

Wheat is having resistance at 1194.40 and support at 1191.60 level.

NCDEX accredited warehouses wheat stocks rose by 1715 tonnes to 9482 tonnes. 

In Delhi wheat prices gained1.3 rupee to end at 1190.9 rupees per 10 kg.

I hope you like news about indian commodity market . You can also get daily updated news about Indian Stock Market. Now a days stock market is good for invest. So dont wait go for sure shot intraday tips , trading tips , share tips , stock market tips and earn more and more money.

Mcx Commodity Tips

Wheat yesterday traded with the negative node and settled -0.56% down at 1205.6. India’s wheat exports this season is still in the making even after country’s food minister said no wheat exports are allowed from government stocks. 

India has maintained a ban on the export of wheat for the past three years, but overflowing stocks have nudged the government to examine whether to allow some exports. In Delhi wheat prices gained3.1 rupee to end at 1195.2 rupees per 10 kg. In yesterday's sure shot stock tips trading session Wheat has touched the low of 1205.2 after opening at 1213, and finally settled at 1205.6. 

For today's session market is looking to take support at 1201.7, a break below could see a test of 1197.9 and where as resistance is now likely to be seen at 1212.9, a move above could see prices testing 1220.3.

Trading Ideas:

Wheat trading range is 1197.9-1220.3.

India’s wheat exports this season is still in making even after food minister said no wheat exports are allowed

Wheat is having resistance at 1212.90 and support at 1201.70 level.

NCDEX accredited warehouses wheat stocks remained at 6504 tonnes. 

In Delhi wheat prices gained3.1 rupee to end at 1195.2 rupees per 10 kg.

Mustardseed yesterday traded with the negative node and settled -0.1% down at 2878 tracking weakness in other oilseed counters. 

The total arrivals of mustard seed increased by 35000 bags from the previous day to 3.40 lakh bags in major mandies. In the Sriganganagar spot market in Rajasthan the price edged up by 33.75 rupee to 2788.75 rupees per 20 kgs. 

In yesterday's trading session Mustardseed has touched the low of 2871 after opening at 2884, and finally settled at 2878. 

For today's session market is looking to take support at 2867.7, a break below could see a test of 2857.3 and where as resistance is now likely to be seen at 2891.7, a move above could see prices testing 2905.3.

Trading Ideas Mcx Commodity Tips :

Mustard Seed trading range is 2857.3-2905.3.

Mustardseed yesterday traded with the negative node tracking weakness in other oilseed counters

Mustardseed looks to take support at 2868 and resistance at 2892.

NCDEX accredited warehouses mustard seed stocks rose by 603 tonnes to 162175 tonnes. 

In the Sriganganagar spot market in Rajasthan the price edged up by 33.75 rupee to 2788.75 rupees per 20 kgs.

How To Trade In Nifty

How To Trade In Nifty : 

On Friday, the Indian benchmark indices have bounced back from previous day's plunge. The markets are trading strong on fresh buying at banking, metal and realty. Back on the domestic front, government has provided additional cash subsidy of about Rs 20000 crore to oil market companies (OMCs) for fiscal 2010-11.

The Indian exports in April showing $23.9 billion in terms of revenue causing an upward shift to be witnessed with annualized growth of 34.4% for the previous month. Also, the broader market indices are trading lower as BSE Mid Cap fell by 0.9% and BSE Small Cap was down 0.5% respectively. The key benchmark indices are trading at BSE 30-share Sensex above 18,550 mark, while Nifty is above the 5,550 mark.

At 12:23PM BSE SENSEX was at 18550.6 up by 214.81 points or by 1.17 % and then NSE Nifty was at 5553.95 up by 67.8 points or by 1.24 %.

The BSE MIDCAP was at 6902.44 up by 58.28 points or by 0.85 % while the BSE SMLCAP was at 8380.19 up by 44.76 points or by 0.54 %.

The BSE Sensex touched 100 sure intraday tips high of 18590.63 and intraday low of 18280.7 The NSE Nifty touched intraday high of 5564 and intraday low of 5472.15

On the economic front, according to the government data showed on Thursday, with the fuel index prices climbing to 12.25%, India's food price index also rose7.7% in the year to April 30. The drop was recorded to lowest in 18 months. As per the previous week records, the annual food and fuel inflation were noticed to be 8.53 % and 13.53% respectively.

Additionally, as compared with an annual rise of 12.11% of the previous, the index of the primary article price was recorded to be up 11.96%. The fall in the prices of vegetable, and pulses, especially potatoes, is reasoned to be the cause behind the drop. The reserve bank of India (RBI) recently raised its interest rates 50 basis points.

On the corporate front, nnoventive Industries made a weak debut on the bourses today, opening nearly 6 per cent lower on the BSE vis-a-vis its issue price of Rs 117 per share.

Mahanagar Telephone Nigam Ltd. (MTNL) lost 2.9% to Rs 44, set for its lowest close since March 21. The company witnessed the loss of Rs 11 bn in Q4, according to reports.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2,584, shares advanced were 1,581 while 877 shares declined and 126 were unchanged.

The top gainers of the BSE Sensex pack were ICICI Bank Ltd. (Rs. 1079.00,+2.27%), DLF Ltd. (Rs. 232.40,+2.11%), Hindalco Industries Ltd. (Rs. 199.30,+2.05%), ITC Ltd. (Rs. 187.50,+2.01%), Jaiprakash Associates Ltd. (Rs. 86.55,+1.94%), among others.

In BSE, BSE_FMCG index was at 3780.13 up by 64.27 points or by 1.73%. Nestle India Ltd. (Rs. 4115.00,+2.29%), ITC Ltd. (Rs. 187.50,+2.01%), United Spirits Ltd. (Rs. 1069.90,+1.76%), Marico Ltd. (Rs. 135.50,+1.57%), Godrej Consumer Products Ltd. (Rs. 391.90,+1.49%).

Free Nifty Tips Intraday

Spare capacity (ex-Libya) higher than CY08 levels We expect OPEC spare capacity, ex Libya, to average 3.4 mb/d in CY11 and 2.5 mb/d in CY12, higher than levels seen during CY08. In addition, we expect non- OPEC production and NGLs (natural gas liquids) to increase by 0.8 mb/d and 0.6 mb/d, respectively, Y-o-Y, thereby effectively limiting the call on OPEC in CY11. At USD 115/bbl Brent, our view is that, the market is discounting the possibility of the Middle East crisis spreading to other countries like Saudi Arabia (accounts for ~80% of OPEC spare capacity) and Iran. In CY11, we expect OPEC spare capacity to remain adequate due to increase in Brazilian bio-fuels supply and start of deepwater projects in Brazil in Q4CY11.

Oil demand to remain robust from China and India We believe that global oil demand will remain robust and average 89.4 mb/d in CY11 (+1.4 mb/d Y-o-Y), driven by demand growth from China (+6.5% Y-o-Y) and India (+3.3% Y-o-Y), while demand from OECD economies (-0.2% Y-o-Y) remains relatively muted.

Outlook: Brent to remain range-bound at USD 110-115/bbl in Q1FY12E We are now moving to using Brent as a benchmark for our forecasts. On a quarterly basis, we expect crude prices to remain at USD 110-115/bbl in Q1FY12 as the impact of Libyan crisis may remain and market focuses on demand-supply mismatch in Q2FY12/Q3FY12 as refineries come out from their maintenance season (Q1FY12). Q2FY12 onwards, we expect prices to moderate as fear of geopolitical issues subside and market focuses on the impact of prices on global crude demand.

Bio-fuel supplies from Brazil in Q3FY12 and higher production from deepwater projects in Q3/Q4FY12 will also alleviate the fear of lower crude supplies. Our new FY12 and FY13 Brent crude price estimates are USD 100/bbl (USD 89/bbl earlier) and USD 95/bbl (USD 94/bbl earlier), respectively.

Crude – Focus Back On Supply Side The recent unrest in MENA (Middle East and North Africa) and tragic events in Japan have firmly turned markets’ attention on the supply side—a key inflection point for sentiment, in our view. We are moving to a Brent crude price benchmark and, going forward, we will reassess our crude price call on a quarterly basis.

We expect Q1FY12 to remain range-bound between USD 110 and USD 115/bbl; our FY12 forecast increases to USD 100/bbl (versus our prior estimate of USD 89/bbl). The key risks to our estimates come from demand destruction due to higher crude prices (typically oil burden greater than 4% poses a risk) and instability in other significant countries like Nigeria, Iran and Saudi Arabia.

Demand: Remains All About China And India We believe that CY11 global crude demand estimates pose less risk, as we are in midst of an upward revision to global crude demand estimates, and US has been recently showing signs of improvement in the broader economy (recent Fedex guidance).

While we do not rule out a delayed impact of global crude demand due to high crude prices, we believe the same will be less pronounced as seen in the last correction, as: (1) we are in a upward economic cycle in a high liquidity regime; and (2) earlier demand correction was exacerbated by the financial/mortgage crisis, which is absent currently.

In CY12, however, the risk is that a higher oil price environment may lead to some demand

destruction; historically, this has been the case when oil’s wallet share increases beyond 4- 5% (Chart 2).

Global oil demand estimates revised upwards Global resurgence of economic growth has led the International Energy Agency (IEA) to increase its global oil demand estimates, backed by rise in both base demand in CY10 and incremental demand in CY11 over CY10. In CY11, IEA forecasts global oil demand to remain robust and average 89.4 mb/d (+1.4 mb/d Y-o-Y), driven by demand growth from China (+6.5% Y-o-Y) and India (+3.3% Y-o-Y), while demand from OECD economies (-0.2% Y-o-Y) remains relatively muted.

We will help you to trade in mcx tips , mcx tips free trial, commodity tips, nifty tips intraday .

Free Stock Market Tips For Intraday Nifty Sure Shot Trading Tips

On Tuesday, the Indian benchmark indices trading lower owing to to profit-booking by funds and retail investors in FMCG, auto, bank and metal sector Free Stock Market Tips amid a weak trend in the Asian markets. On domestic front, state-run oil marketing companies could hike petrol prices by up to Rs 3 per litre and the hike could be announced on 15 May 2011 during the fortnightly review of prices.

Reserve Bank of India has relaxed the provisioning norms for banks with retrospective effect from September 30, 2010, which in turn could help banks post higher profits. Also, the broader market indices are trading positive as BSE Mid Cap was trading down by 0.7% and BSE Small Cap was lower 0.6% respectively. The key benchmark indices are trading at BSE 30-share Sensex above 19,330 mark, while Nifty is above the 5,805 mark.

At 12:20PM BSE SENSEX was at 19336.49 down by -247.82 points or by -1.27 % and then NSE Nifty was at 5805.75 down by -68.75 points or by -1.17 %.

The BSE MIDCAP was at 7193.34 down by -48.24 points or by -0.67 %. while the BSE SMLCAP was at 8842.88 down by -57.02 points or by -0.64 %.

The BSE Sensex touched Stock Tips Intraday high of 19600.79 and intraday low of 19306.92 The NSE Nifty touched intraday high of 5878.25 and intraday low of 5792.05

On the economic front, an Indian delegation, led by commerce secretary Rahul Khullar, is likely to initiate a new phase of bilateral discussion with Pakistan government tomorrow, over the trade of petroleum products. Though Indian has maintained its position as “most favoured nation” status from Pakistan for more than five years, petroleum products were never in the imports list.

 The opening of the trade routes for petroleum products also opens new markets for Indian petroleum exporters like Reliance Industries Ltd (RIL) and Essar Oil. Indian Oil Corporation’s Panipat refinery and HPCL-LN Mittal group’s upcoming Bhatinda refineries will be at an advantage due to its geographical closeness.

Pakistan has a refining capacity about 12 million tonnes, which could meet only half of the annual requirements of the country. Indian export of refining products has expanded from 746,000 tonne in FY00 to 51 million tonne in FY10.

On the corporate front, KPIT Cummins fourth quarter consolidated net sales were up at Rs 308 crore versus Rs 273.7 crore, QoQ. The company's consolidated net profit was up at Rs 26.3 crore versus Rs 20.8 crore.

India's foremost cement manufacturer ACC is set to report 24% fall in January-March quarter profit after tax of Rs 299 crore as against Rs 392 crore in same quarter the previous year.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2,732, shares advanced were 934 while 1691 shares declined and 107 were unchanged.

The top losers of the BSE Sensex pack were Hindustan Unilever Ltd. (Rs. 280.10,-3.05%), Housing Development Finance Corporation Ltd. (Rs. 711.35,-2.72%), Mahindra & Mahindra Ltd. (Rs. 749.50,-2.36%), Jaiprakash Associates Ltd. (Rs. 98.40,-2.28%), Wipro Ltd. (Rs. 455.20,-2.25%), among others.

In BSE, BSE_FMCG index was at 3661.8 down by -74.22 points or by -1.99%. Hindustan Unilever Ltd. (Rs. 280.10,-3.05%), ITC Ltd. (Rs. 186.15,-2.10%), Dabur India Ltd. (Rs. 101.25,-1.60%), Nestle India Ltd. (Rs. 3850.00,-1.48%), United Spirits Ltd. (Rs. 1006.50,-1.47%),.

In BSE, BSE_CGS index was at 13504.1 down by -203.7 points or by -1.49%. BGR Energy Systems Ltd. (Rs. 559.00,-2.94%), Larsen & Toubro Ltd. (Rs. 1683.05,-2.23%), Punj Lloyd Ltd. (Rs. 71.05,-1.73%), Praj Industries Ltd. (Rs. 79.30,-1.43%), Bharat Heavy Electricals Ltd. (Rs. 2048.00,-1.29%),

The leading Asian bourses are trading negative as Hang Seng, Seoul Composite, Shanghai Composite and Nikkei 225 are trading below by 1.02%, 0.44%, 0.86% and 1.17% respectively.

Best Free Commodity Trading Tips For Today on Mobile By SMS

Wheat yesterday traded with the negative node and settled -0.02% down at 1169. According to the latest data of Food Corporation of India (FCI), wheat procurement was shrugged off by76.6% so far this year to 9.15 lakh tonnes against 37.88 lakh tonnes that were reported last year in the same period due to delay in harvest in Haryana and restricted selling in Madhya Pradesh.

The government had procured 37.88 lakh tonnes in the same period last year. In Delhi wheat prices dropped -6.6 rupee to end at 1168 rupees per 10 kg. In yesterday's trading session Wheat has touched the low of 1165.2 after opening at 1165.2, and finally settled at 1169. For today's session market is looking to take support at 1165.5, a break below could see a test of 1161.9 and where as resistance is now likely to be seen at 1172.3, a move above could see prices testing 1175.5.

Trading Ideas:

Wheat trading range is 1161.9-1175.5.

Wheat yesterday traded with the negative node and settled -0.02% down

Wheat is having resistance at 1172.30 and support at 1165.50 level.

Wheat procurement was shrugged off by76.6% so far this year to 9.15 lakh tonnes against 37.88 lakh tonnes

In Delhi wheat prices dropped -6.6 rupee to end at 1168 rupees per 10 kg. 

Mustardseed yesterday traded with the negative node and settled -0.69% down at 2740 on weak spot markets sentiment. Increased supply against fall in demand at physical markets mainly influenced trading sentiments pulling down mustardseed prices. Reduced off-take by oil mills and vanaspati ghee-making industries also put pressure on mustardseed prices. 

The total arrivals of mustard seed decreased by 70000 bags from the previous day to 6.70 lakh bags in major mandies. In the Sriganganagar spot market in Rajasthan the price edged down by -7.5 rupee to 2520 rupees per 20 kgs. In yesterday's trading session Mustardseed has touched the low of 2715 after opening at 2750, and finally settled at 2740. For today's session market is looking to take support at 2720, a break below could see a test of 2700 and where as resistance is now likely to be seen at 2755, a move above could see prices testing 2770.

Trading Ideas:

Mustard Seed trading range is 2699-2769.

Mustardseed yesterday traded with the negative node on weak spot markets sentiment

Mustardseed looks to take support at 2720 and resistance at 2755.

NCDEX accredited warehouses mustard seed stocks rose by 3330 tonnes to 19356 tonnes. 

In the Sriganganagar spot market in Rajasthan the price edged down by -7.5 rupee to 2520 rupees per 20 kgs.

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Best Share Market Stock Trading Daily News Update...

In the sectoral front, the IT, FMCG and Oil&Gas space contributed the most to the market rally during the session, gaining by 1.92%, 1.67% and 1.44%, respectively. However, the Banking and Healthcare space witnessed profit booking, declining by 0.70% and 0.35%, respectively.

Both the Nifty and Sensex traded on a bullish note during the first half of the session. However, during the second half, both the benchmarks started trading volatile and finally managed to close with decent gains. The positive closing for the overnight US market had boosted the sentiment in the domestic arena during morning trade.

The Dow Jones Industrial Average (DJIA) closed with a gain of 71.6 points or 0.58% at 12,350.61, while NASDAQ index finished higher by 19.91 points or 0.72% to 2,776.79. The S&P 500 (SPX) closed up by 8.82 points or 0.67% to 1,328.26. Among the Sensex pack, 23 stocks ended in positive while only 7 stocks ended in the negative terrain. The overall market breadth remained positive, as out of total 2,951 stocks traded on BSE, 1,444 stocks advanced, whereas 1,412 stocks declined and 95 stocks remained unchanged.

The BSE Sensex closed at 19,445.22, up by 155.04 points or by 0.80% and NSE Nifty closed at 5833.75, higher by 46.10 points or by 0.80%. The BSE Midcap was at 6,873.40 higher by 19.58 points or by 0.29% and the BSE SmallCap closed at 8,175.89, up by 17.22 points or by 0.21%. The BSE Sensex touched intraday high of 19,575.16 and intraday low of 19,284.35.

The top gainers of the BSE Sensex pack were Bajaj Auto Ltd (Rs. 1459.80, 2.90%), Oil And Natural Gas Corporation Ltd (Rs. 290.10, 2.76%), Tata Consultancy Services Ltd (Rs. 1182.50, 2.71%), Hindustan Unilever Ltd (Rs. 284.60, 2.50%) and Hero Honda Motors Ltd (Rs. 1586.55, 2.23%) among others.

The top losers of the BSE Sensex pack were State Bank of India (Rs. 2767.90, 3.19%), Cipla Ltd (Rs. 321.05, 2.01%), Reliance Communications Ltd (Rs. 107.70, 2.00%), Mahindra & Mahindra Ltd (Rs. 698.60, 1.61%) and Maruti Suzuki India Ltd (Rs. 1263.55, 0.95%) among others.

On the macroeconomic front, the Indian government has set a target of Rs. 40,000 crore of divestment for 2011-12 and nearly one third of it will be achieved within the first quarter. Means to reach the target will be through public issues of companies such as Cochin Shipyard and Rashtriya Ispat Nigam Ltd. Also, oil major Oil and Natural Gas Corp (ONGC) FPO is also in the pipeline. Further, the government had already given a nod to the stake sale in Power Finance Corporation (PFC) and Steel Authority of India and Hindustan Copper. Besides, many other state owned companies will also appear in the market during the next fiscal, which are MMTC, Neyveli Lignite, Ennore Ports and Nalco.
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The investors gained confidence which led all the sectors trade in green. This has helped the market to advance its gains and recover its last days loses. On the sectoral front, sectors such as CD and Realty are witnessing heavy buying support. Both the benchmark indices and broader market are trading in the positive zone.

The broader market indices are trading positive as BSE Mid Cap and BSE Small Cap are trading up by 1.59% and 1.68% respectively. The key benchmark indices are trading at BSE 30-share Sensex above 18,415 mark, while Nifty is above the 5,520 mark.

At 12.20 PM BSE SENSEX was trading at 18,417.86 up by 250.22 points (1.38%) and the NSE Nifty was trading at 5,524.55 up by 74.90 points (1.37%).

The BSE MIDCAP was at 6,570.68 up by 102.82 points (1.59%) and the BSE SMLCAP was at 7,922.20 up by 130.87 points (1.68%).

On the economic front, repo rate should be the single policy rate to definitely signal monetary policy position to realize macroeconomic objectives of growth with price stability. The repo rate should operate between Bank Rate and the reverse repo rate. The Bank Rate will constitute the upper bound of the corridor while reserve repo rate would be the lower bound. The optimal width should be fixed at 150 bps and should not be changed in normal circumstances.

On the corporate front, IVRCL Infrastructures and Projects Ltd rose by 3.09% to Rs 73.50 after the company has bagged order worth Rs5.64bn.

Coal India Ltd. rose by 2% to Rs. 344.5 following reports the company may increase coal prices again by August 2011

At present, the market breadth indicating the overall health is positive with 1,811 stocks advancing, 777 shares declining and 80 stocks are left unchanged. Further, the overall market breadth is positive as all the 13 sectoral indices are trading higher.

Gainers from the Sensex Pact till now are Reliance Infra (5%), Reliance Comm (3.37%), DLF (2.44%) and ICICI Bank (2.17%).

The BSE CD was at 5,878.94 up by 131.26 points or by (2.28%). The main gainers were VIP Inds (10.51%), Whirlpool (5.39%), Titan Ids (2.06%) and Blue Star (1.49%).

The BSE REALTY was at 2,097.1 up by 43.41 points or by (2.11%). The main gainers were Parsvanth Dev (6.33%), Unitech (2.71%), DLF (2.44%) and Indiabulls Real Est (2.19%).
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On the international front, Hedge funds enlarged their net-long positions on gold in the week ended March 1, 2011 due ongoing geo-political tensions in the Middle East. Managed money funds increased their positions 9% to 186,988 futures and options contract, according to Commodity Futures Trading Commission (CFTC) report.

Currently, Domestic commodities markets are trading with positive note. Most of the indices are showing upward trend on Multi Commodity Exchange (MCX) except MCXAGRI. At MCX futures, MCXCOMDEX is trading at 3,591.97 (up by 0.71%), MCXMETAL is trading at 4,540.11 (up by 0.53%), MCXENERGY is trading at 3,346.59 (up by 1.37%), and MCXAGRI is trading at 2,904.04 (down by 0.21%). (At 11:25 AM today).

At NCDEX, the Dhaanya, an agri commodity index, is currently trading at 1,121.38, down by 0.49% (At 11:23 AM today).

On the domestic market, Cardamom futures are trading with positive note today. March future surged as much as 3.00% to Rs. 1,098.10 per kg on the MCX as speculators enlarged their long position at the existing price level to meet the marriage season demand. Moreover, restricted arrivals from the major producing regions also kept the prices in positive zone.

At Multi Commodity Exchange (MCX), cardamom future for March contract is trading at Rs. 1,075.10 per kg, up by 0.83%, after opening at Rs. 1,082.00 against the previous close price of Rs. 1,066.10. It touched the intra-day high of Rs. 1,098.10 till the trading. (At 11:23 AM today).

The top gainers at MCX are Silver for December contract (2.78%), Potato for April contract (2.02%), Silver M for November contract (1.92%), Silver for September contract (1.86%) and Crude oil for June contract (1.86%). (At 11:21 AM today).

The top losers at MCX are Iron ore for April contract (-1.46%), Mentha oil for March contract (-1.40%), Mentha oil for May contract (-1.16%), Iron ore for March contract (-0.93%) and Lead for May contract (-0.71%). (At 11:20 AM today).

The top gainers at NCDEX are Turmeric for April contract (4.00%), Chilli for June contract (3.3%), Chilli for April contract (2.5%), Potato for March contract (2.1%) and Turmeric for May contract (2.00%). (At 11:14 AM today).

The top losers at NCDEX are Potato for July contract (-4.00%), Potato for August contract (-4.00%), Castor seed for May contract (-3.6%), Castor seed for June contract (-3.5%) and Castor seed for April contract (-2.5%). (At 11:17 AM today).

Gold futures are trading with positive note in the domestic market today on the back of tracking firm global cues. April future rose as much as 0.63% to Rs. 21,232.00 per 10 grams on the MCX as political tensions intensified in the Middle East nations and crude oil continued to gain on fear of supply disruption, boosting the demand for precious metal as a hedge against uncertainties and inflation. The concern about rising inflation and currency devaluation lifted the gold prices 30% last year for the 10th annual gain. Moreover, silver also advanced in the domestic market due to tracking global cues today.

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On 21st February 2011 (Monday), the domestic commodity markets were closed on a mixed note. All the indexes on MCX were trading at the same level. Yesterday, in the MCX future, MCXCOMDEX closed at 3,425.59 up by 2.69%, MCXMETAL closed at 4,430 up by 1.445, and MCXENERGY closed at 3,015.10 up by 5.73% while MCXAGRI closed at 2,921.63 up by 0.48%

At NCDEX, the Dhaanya, an agri commodity benchmark index, was closed at 1,170.22, up by 0.49%.

MCX Crude Mar contract closed on last day of previous week at 4,072 per barrel, up by 42 rupees against previous day’s close of 4030. Support for Crude is seen at 4175 and below it; prices can test 4125 while the resistance levels are seen at 4275 and 4325 respectively.

Yesterday at the MCX, the market breadth was positive with 56 commodities advanced and 7 commodities declined. Similarly at NCDEX the market breadth was positive with 66 commodities advanced and 24 commodities declined.

The top gainers at MCX were Crude Oil for March contract (5.65%), Crude Oil for April contract (4.71%), Silver for September contract (4.47%), Silver RM for August contract (4.37%), Silver MIC for June contract (4.35%), and Silver RM for June contract (4.19%).

Similarly the top losers at MCX were CARDAMOM for June contract (-2.14%), CARDAMOM for May contract (-1.37%), Cardamom for April contract (-0.8%), Kapas for April contract (-0.35%), Iron ore for April contract (-0.28%), and copper for February contract (-0.16%).

Moreover, the gainers at NCDEX were light sweet crude oil for March contract (5.9%), Silver for May contract (5.7%), Chilli for March contract (4.0%), Chilli for April contract (4.0%) and Chilli for June contract (4.0%).

The top losers at NCDEX were Guar Gum for June contract (-2.3%), Potato for September contract (-1.8%), Potato for June contract (-1.1%), Guar Gum for May contract (-0.7%) and Gur for September contract (-0.7%).

Yesterday at MCX, the top traded commodities in terms of quantity were Crude oil for March contract with 161,147 lots, Silver RM for February contract with 116,892, Copper for February contract with 86,531, Silver for March contract with 83,667, Nickel for February contract with 43,611, and Silver MIC for April contract with 35,905.

On the domestic arena, at MCX Crude Oil for March contract closed at INR 4,304.00. It touched a high of INR 4,312.00 and a low of INR 4,086.00 after opening at INR 4,086.00. Crude Oil for April contract closed at INR 4,404.00, it touched a high of INR 4,413.00 and a low of INR 4,225.00 after opening at INR 4,225.00. Crude Oil for May contract closed at INR 4,470.00, it touched a high of INR 4,475.00 and a low of INR 4,338.00 after opening at INR 4,343.00.

Gold for April contract closed at INR 2, 0730.00, it touched a high of INR 2, 0758.00 and a low of INR 2, 0, 560.00 after opening at INR 20,560.00. Gold for June contract closed at INR 21,057.00, it touched a high of INR 21,350.00 and a low of INR 20,884.00 after opening at 20,913.00. Gold for August contract closed at INR 21,337.00, it touched a high of INR 21,379.00 and a low of INR 21,108 after opening at 21,118.00.

On Monday afternoon, India gold futures extended gains into a seventh session to its highest level in seven weeks. The most-active April contract on the Multi Commodity Exchange (MCX) was trading at an increase of 0.70 percent at 20,692 rupees per 10 grams at, after hitting a high of 20,705 rupees, on Jan4

Silver for March contract closed at INR 50,290.00, it touched a high of INR 50,420.00 and a low of INR 48,626.00 after opening at INR 48,626.00. Silver for May contract closed at INR 51,086.00, it touched a high of INR 51,200.00 and a low of INR 49,345.00 after opening at INR 49,345.00.
Silver for July contract closed at INR 51,488.00, it touched a high of INR 51,583.00 and a low of INR 50,001.00 after opening at INR 50,001.00

Silver rose to a historical high of Rs 50,300 per kg on Monday because of unrest in the Middle East. Opening at Rs49,955 on Monday morning, the price quickly climbed to cross the Rs50,000 mark for the first time.

As speculators created fresh positions, prompt by increase in demand in the spot market Potato prices registered an increase per quintal in futures trade today. At the Multi Commodity Exchange, potato for March contract rose by Rs 11.20, or 1.54 per cent, to Rs 737.50 per quintal, with a business volume of a single lot. The potato for delivery in May contract also gained Rs 8.60, or 1.16 per cent, to Rs 755.60 per quintal, with a business volume of one lot.

On firming spot market sentiments, the Mustard seed prices increased by Rs 30 to Rs 2,948 per quintal in futures trading. Restricted supply and rising demand mainly influenced the sentiments. At the National Commodity and Derivatives Exchange, mustard seed prices for April contract rose by Rs 30, or 1.03 per cent, to Rs 2,948 per quintal, clocked an open interest 85,860 lots.

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Canara Robeco Mutual Fund has decided to revise the features of Canara Robeco Interval Scheme - Series 2 (Quarterly Plan 2). The revision will be applicable from the first day of the next Specified Transaction Period (STP) i.e. March 14th 2011. Accordingly, the fund house will make certain changes in the features of this scheme. Firstly, the units offered under the scheme will be listed on one or more recognized stock exchanges. Secondly, the scheme would offer two options viz. retail and institutional plan (both with growth and dividend payout option). The existing unit holders who holds units under the "Dividend Reinvestment Option" and do not exercise the exit option will be automatically converted into "Dividend Payout Option" and will be paid dividend, if any, declared on the first day of STP i.e. March 14th 2011. Thirdly, entry and exit load charges will be nil for both the plans. Fourthly, investors will have the option to exit the said scheme at the prevailing NAV, without any exit load, in case an investor does not wish to continue to hold units in view of the said changes. The said exit option will be available till March 15th 2011.
Baroda Pioneer Mutual Fund has declared dividend on the face value of Rs 10 per unit for Baroda Pioneer ELSS 96 (dividend option). The record date for dividend declaration has been fixed as February 18th 2011. It has been decided that the quantum of dividend will be Rs 1.50 per unit. As on February 11th 2011, the scheme's NAV stood at Rs 24.25 per unit. It is an equity linked saving scheme that seeks to provide long term capital appreciation as well as tax benefit under section 80C of the Income Tax Act, 1961.
Principal Mutual Fund has declared dividend on the face value of Rs 10 per unit for Principal PNB Fixed Maturity Plan - 91 Days - Series XXVI (dividend option). It is a close ended debt scheme that seeks to build an income oriented portfolio and generate returns by investing in debt / money market instruments and government securities. The record date for dividend declaration has been fixed as February 17th 2011. It has been decided that the quantum of dividend will be entire distributable surplus as on the record date. As on February 10th 2011, the scheme's NAV stood at Rs 10.1823 per unit.
Franklin Templeton Mutual Fund has declared tax-free dividend on the face value of Rs 10 per unit of Franklin India Prima Plus. It is an open ended growth scheme that seeks to provide capital appreciation and regular income through an investment in diversified portfolio consisting of equities, fixed income securities and money market instruments. The record date for dividend declaration has been fixed as February 18th 2011. It has been decided that the quantum of dividend as on the record date will be Rs 3 per unit. As on February 11th 2011, the scheme's NAV stood at Rs 27.5746 per unit. The fund house has decided to distribute tax free dividend to all investors registered in the Dividend Plan as on February 18th 2011.
Sundaram Mutual Fund has declared dividend on the face value of Rs 10 per unit for Sundaram Select Thematic Funds Financial Services Opportunities (dividend option). The record date for dividend declaration has been fixed as February 18th 2011. It has been decided that the quantum of dividend will be Rs 3 per unit. As on February 11th 2011, the regular and institutional plan has recorded NAV of Rs 14.8076 per unit and Rs 14.8367 per unit, respectively. It is an open ended equity scheme with an investment objective to seek long term capital appreciation by investing primarily in equity and equity related instruments of Indian companies engaged in banking and financial services.
ICICI Prudential Mutual Fund has announced to declare dividend on the face value of Rs 10 per unit for ICICI Prudential Tax Plan (dividend option). It is an open ended equity linked savings scheme with an investment objective to generate long term capital appreciation by investing primarily in equity / equity related securities of the companies. The record date for dividend declaration has been fixed as February 18th 2011. It has been decided that the quantum of dividend will be Rs 2 per unit. As on February 10th 2011, the scheme's NAV stood at Rs 19.47 per unit.

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Currently, Domestic commodities markets are trading with mix note. MCXMETAL and MCXAGRI are showing upward trend, while MCXCOMDEX and MCXENERGY are showing downward trend on Multi Commodity Exchange (MCX). At MCX futures, MCXMETAL is trading at 4,285.6 (up by 0.03%), MCXAGRI is trading at 2,945.44 (up by 0.21%), MCXCOMDEX is trading at 3,363.95 (down by 0.03%), and MCXENERGY is trading at 2,986.71 (down by 0.26%). (At 11:30 AM today).

At NCDEX, the Dhaanya, an agri commodity index, is currently trading at 1,171.07, up by 0.18% (At 11:26 AM today).

Gold futures are trading with negative note in the Indian bullion market as April contract fell by Rs. 76, or 0.37%, to Rs. 20,194.00 per 10 grams on Multi Commodity Exchange (MCX) today. Speculators refrained to take fresh long positions on gold futures due to continuous positive economic data released by the U.S. that eroded the safe investment appeal for precious metals.

The U.S. Department of Labor released better than expected unemployment data on Friday. The unemployment rate declined to 9% in January, lowest level since April 2009, from 9.4% in December. Market was expecting for 9.5%. Moreover, U.S. initial jobless claims decreased by 42,000, more than forecasts, to 415,000 as compared to previous revised figure of 457,000. ISM non-manufacturing index also surged to 59.4 in January from 57.1 in December, a report released last week. Therefore, concern about recovery of U.S. economy shifted the investment from safe haven assets to riskier assets.

The holdings in the world’s largest gold-backed exchange traded fund, SPDR Gold Trust, declined to 1,228.864 tons by February 4, 2011 from 1,229.277 tons on February 3, 2011.

Dow Jones Industrial Average (DJIA) gained 29.89 points, or 0.28%, to 12,092.15 after opening at 12,061.70 against the previous close price of 12,062.30 on Friday due to optimistic views of U.S. economy.

At Multi Commodity Exchange (MCX), gold future for April contract is trading at Rs. 20,270.00 per 10 grams, down by 0.31%, after opening at Rs. 20,209.00 against the previous close price of Rs. 20,270.00. It touched the intra-day low of Rs. 20,194.00 till trading. (At 11:23 AM today).

Gold future for April contract, at COMEX, is trading at $1,348.00 per ounce, down by $1.0 per ounce, after opening at $1,348.1 per ounce against the previous close price of $1,349.0. It touched the intra-day low of $1,344.1 per ounce with a business volume of 6,072 lots till electronic trading. (At 11:22 AM today).

At Multi Commodity Exchange (MCX), silver future for March contract is trading at Rs. 44,536.00 per kg, up by 0.04%, after opening at Rs. 44,498.00 against the previous close price of Rs. 44,516.00 per kg. It touched the intra-day low of Rs. 44,437.00 till trading. (At 11:21 AM today).

The top gainers at MCX are potato for April contract (2.91%), Potato for March contract (2.56%), Potato TRWR for May contract (2.48%), Potato TRWR for March contract (2.39%) and Potato for May contract (2.33%). (At 11:20 AM today).

The top losers at MCX are Natural gas for February contract (-1.67%), Natural gas for March contract (-1.44%), Ironore for February contract (-0.98%), Natural gas for April contract (-0.93%) and Gold for April contract (-0.32%). (At 11:18 AM today).

The top gainers at NCDEX are Potato for March contract (3.01%), Potato for June contract (3.01%), Potato for April contract (3.00%), Chilli LCA for March contract (2.90%) and Chilli LCA for February contract (2.72%). (At 11:16 AM today).

The top losers at NCDEX are Natural gas for February contract (-1.27%), Light sweet crude oil for March contract (-1.21%), Turmeric for May contract (-0.55%), Steel long new for March contract (-0.55%) and Steel long new for February contract (-0.49%). (At 11:15 AM today).

Potato futures are the top performer on the Multi Commodity Exchange (MCX), as it gained 2.83% to Rs. 706.90 per 100 kgs today. It advanced on the back of increase in long positions by the speculators due to pick-up in the spot market demand. Moreover, concern about restricted arrivals from the producing regions also kept the prices in positive zone.

At Multi Commodity Exchange (MCX), potato future for March contract is trading at Rs. 706.40 per 100 kgs, up by 2.76%, after opening at Rs. 689.40 against the previous close price of Rs. 687.40. It touched the intra-day high of Rs. 706.90 till trading. (At 11:11 AM today).

Copper future for February contract is trading with positive note on the back of tracking global cues. February future surged 0.30% to Rs. 465.90 per kg on the Multi Commodity Exchange today due to concern that global economic recovery will boost the demand outlook for the metals which is used in cars, homes and appliances amid fall in global output. The metal prices has more than tripled since the end of 2008 on increasing demand from China, the world’s largest consumer.

The U.S. Department of Labor released better than expected unemployment data on Friday. The unemployment rate declined to 9% in January, lowest level since April 2009, from 9.4% in December. Market was expected for 9.5%.

Moreover, concern about shrinking global stockpiles with improving demand from China and US also boosted the demand outlook for the metal used in construction and electrical applications. Barclays Capital forecasted that copper supply may deficit by 822,000 tons in 2011, more than double last year’s shortage. While, The International Copper Study Group forecasted that copper inventory will deficit by 435,000 ton in this year as consumption are improving amid falling output.

The world refined copper market is expected to have a 500,000-metric-ton to 600,000-ton deficit in 2011, according to JPMorgan Securities Ltd.

Copper for February contract, at MCX, is trading at Rs. 465.40 per kg (up by 0.19%) after opening at Rs. 464.80 against the previous close price of Rs. 464.50 with intra-day high of Rs. 465.90 till the trading. (At 11:09 AM today).

While, copper future for March contract, at COMEX, is trading at $4.6200 a pound, up by 0.88%, after opening at $4.5795 a pound against the previous close price of $4.5795 a pound. It touched the high of $4.6220 with a business volume of 1,024 lots till electronic trading. (At 11:08 AM today).

Crude for February contract, at MCX, is trading at Rs. 4,080.00 per barrel (down by 0.20%) after opening at Rs. 4,085.00 against the previous close price of Rs. 4,088.00 with intra-day low of Rs. 4,073.00 till the trading. (At 11:06 AM today).

Nickel for February contract, at MCX, is trading at Rs.1,305.70 per kg (up by 0.90%) after opening at Rs. 1,296.00 against the previous close price of Rs. 1,294.10 with intra-day high of Rs. 1,307.00 till the trading. (At 11:05 AM today).

Natural gas Future for February contract is trading at Rs. 194.40 per mmbtu, down by 1.62%, after opening at Rs. 197.10 against the previous close price of Rs. 197.60. (At 11:04 AM today)

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The Indian bourses are currently trading in the negative terrain during midsession trade after experiencing heavy selling pressure across certain sectors, overshadowing the positive cues from the Asian market. On the Asian front, markets are trading higher following the over-night gains in the Wall Street. The commodity companies are enjoying the buying positions after the hike in oil and metal prices. On the domestic front, sectors like FMCG, AUTO, CG and IT are witnessing the most of selling pressure.

The broader market indices are trading negative as BSE Mid Cap and Small Cap are trading down by 0.69% and 0.33% respectively. The key benchmark indices are trading at BSE 30-share Sensex below 18,105 mark, while Nifty is below the 5,445 mark.

At 12.25 BSE SENSEX was trading at 18,102.20 down by 225.56 (1.23%) and the NSE Nifty was trading at 5,440.75 down by 65.15 (1.18%).

The BSE MIDCAP was at 6,821.20 down by 47.15 (0.69%) and the BSE SMLCAP was at 8,449.67 down by 28.15 (0.33%).

On the economic front, the six core industries viz crude oil, petroleum refining, coal, electricity, cement and finished steel together have a combined weight of 26.7% in IIP. Further, these sectors surged by 6.6% in December in comparison to November. Thus India’s infrastructure is recovering from its 18-month low of 2.7% in November in IIP index, thus showing high volatility.

On the corporate front, Hitachi Home & Life Solutions fell by 2.97% to Rs 194.50 after the company suffered a decline in the net profit by 94% to Rs. 0.53 crore in the Q3 results.

Everest Kanto Cylinder rose by 2.65% to Rs 81.40 after the company reported a tremendous increment of 1422.2% in its net profit to Rs. 23.29 crore in its Q3 results.

At present, the market breadth indicating the overall health is negative with 1,161 stocks advancing, 1,432 shares declining and 110 stocks are left unchanged. Further, the overall market breadth is negative as all the 13 sectoral indices are trading lower.

Losers from the Sensex Pack till now are Tata Motors (4.17%), Jindal Steel (3.59%), Wipro (3.31%), ITC (3.1%) and L&T (1.96%).

The BSE FMCG index was at 3,290.05 down by 76.15 points or by (2.26%). The main losers were ITC (3.1%), Marico (3.43%), Nestle India (3.04%) and Godrej Cons (1.84%).

The BSE AUTO index was at 8,729.28 down by 165.3 points or by (1.86%). The main losers were Tata Motors (4.17%), Exide Inds (2. 61%) , Amtek Auto (2.45%) and Cummins India (1.66%).

The leading Asian bourses are trading lower as Hang Seng, Taiwan Weighted and Nikkei 225 are trading higher by 54.35, 43.02 and 36.58 points respectively.

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The domestic bourses ended the trading session on a positive note as the benchmark indices pared almost all of the hefty losses incurred during the morning trade. The market started off the session deep into the negative terrain, as the broader indices witnessed a huge gap down opening tracking weak global cues. The Asian stocks plunged significantly following negative cues from the Wall Street which closed lower on Friday and due to gains in yen and dollar on speculation that Egypt’s crisis will slow down the global economic recovery.

Soon after the bearish start, the market dragged further before finding support near the 5,410 Nifty level. Though weakness prevailed among the Asian bourses, the domestic market started paring its losses gradually. Despite of huge volatility, the benchmarks were seen inching towards the baseline. The recovery came in as buying interest was witnessed among the Capital Goods, Power, Oil&Gas and Auto stocks. Finally, the market closed with mild losses. The negative opening for the European bourses had limited impact in the domestic front.

In the sectoral front, the Capital Goods, Power and Oil&Gas space were the major contributors to the market recovery from the morning slump and they gained by 3.26%, 1.31% and 1.22% respectively. However, the Realty and FMCG sectors remained weak, declining by 2.23% and 2% respectively. Both the Nifty and Sensex witnessed huge volatility throughout the session and finally closed with mild losses near the session highs. The negative closing for the US markets on Friday weighed heavily on the domestic market, dampening the morning sentiment. The Dow Jones Industrial Average (DJIA) closed with a loss of 166.13 points or 1.39% at 11,823.70, while NASDAQ index finished lower by 68.39 points or 2.48% to 2,686.89. The S&P 500 (SPX) closed down by 23.20 points or 1.79% to 1,276.34.

Among the Sensex pack, 17 stocks ended in negative while 13 ended in the positive terrain. The overall market breadth reflected similar weakness, as out of total 3,006 stocks traded on BSE, 1,643 stocks declined, whereas 1,183 stocks advanced and 180 stocks remained unchanged.

The BSE Sensex closed down by 68.21 points or (0.37%) at 18,327.76 and NSE Nifty ended lower by 6.25 points or (0.11%) at 5,505.90. BSE Midcap closed with a loss of 30.02 points or (0.44%) at 6,868.35 while BSE Smallcap closed lower by 68.47 points or (0.80%) at 8,477.82. The BSE Sensex touched intraday high of 18,395.09 and intraday low of 18,038.48.

Gainers from the BSE Sensex pack were – ONGC (3.69%), BHEL (2.98%), Hindalco Inds (2.73%), L&T (2.19%), M&M (2.18%) and Maruti Suz (1.56%).

Losers from the BSE Sensex pack were – JP Assoc (4.69%), ITC (3.18%), HDFC (2.73%), Bharti Artl (2.61%), Rel Infra (2.31%), TCS (2.15%) and Rel Comm (2.00%).

On the macroeconomic front, India is eyed a lucrative destination for investment by the private equity player. The reason attributing are the sound economic growth and the increasing domestic demand. The sectors like power, infrastructure, energy, real estate and healthcare are going to drive the investment in the coming period. "Strong self consumption driven by the great Indian middle class and consistent economic growth ranked higher in respondent''s minds as reason for a more favourable investment environment now as compared to 2007," the report said. Further, the report noted that almost "a third of the respondents believed India shall perform better than both China and Brazil ".

India is likely to sign the Comprehensive Economic Cooperation Agreement with Malaysia to strengthen and boost trade and economic activities between the two countries and to emerge with new areas of trade and economic cooperation. Both the countries look for an enhanced scope coverage and outset the Free-Trade Agreement (FTA) which focuses on goods, services and investments.

In order to put a check on the rising inflation in the country, the government has decided to reduce the prevailing import duties on the food items. As the reduction in the import duty will help in decreasing the food inflation in the country. If the same is not achieved India will further decline the import duties in order to control the rising food prices.

On the global markets front, almost all the major indices in Asia ended on a negative note. The Jakarta Composite, Seoul Composite, Straits Times, Nikkei225 and Hang Seng declined by 2.25% at 3,409.17, 1.81% at 2,069.73, 1.55% at 3,179.72, 1.18% at 10,237.92 and 0.72% at 23,447.34 respectively. However, the Shanghai Composite inclined by 1.35% at 2,789.82.

European markets, which opened after the Indian market were trading on a negative note. Key benchmark indices like – CAC 40 was trading lower by 0.51% at 3,982.05, in Frankfurt, DAX index was trading down by 0.55% at 7,063.58 and FTSE 100 declined by 0.67% at 5,842.14.

The BSE CG index was at 13,526.03 up by 426.85 points or by (3.26%). The main gainers were Siemens (17.32%), Crompton Greaves (6.48%), ABB (5.81%), Bharat Elec (3.70%) and Alstom Projects (3.29%).

Thank you,

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Commodity Trading Tips

Currently commodities markets in India are trading with a mixed trend. At MCX future, 3 out of 4 indexes are showing an upward trend. At MCX futures, MCXCOMDEX is trading at 3,347.44, up by 0.68%, MCXENERGY is trading at 2,978.97, up by 1.29% and MCXMETAL is trading at 4,291.20, up by 0.57% while MCXAGRI is currently trading at 2,866.34, down by 0.27% (At 3:16 P.M today)

At NCDEX, the Dhaanya, an agri commodity benchmark index, is currently trading at 1,093.16, up by 0.36%. (At 3:24:48 P.M today)

On the domestic front, Cardamom is trading higher in future trading today as speculators enlarged their positions on the back of firming trend at the spot market on pick up in demand. At MCX future, Cardamom for January contract is trading at Rs 1,601.90, up by 0.70 per cent, Cardamom for February contract is trading at Rs 1,638.00, up by 1.31 per cent and Cardamom for March contract is trading at Rs 1,653.40, up by 1.85 per cent. (At 3:05 P.M today)

Mentha Oil prices decreased in future trading today as speculators preferred to lock in gains, driven by subdued demand in the spot market at higher level. At MCX future, Mentha Oil for January contract is trading at Rs 1,192.40, down by 1.40 per cent and Mentha Oil for February contract is trading at Rs 1,199.20 down by 1.32 per cent. (At 3:12 P.M today)

Supported by a firm trend at global markets on signs of US economic recovery, Copper prices increased in future trade today. At MCX future, Copper for February contract is trading at Rs 444.45, up by 1.11 per cent and Copper for April contract is trading at Rs 447.45, up by 1.11 per cent. (At 3:14 P.M today)

The top gainers at MCX future are Natural Gas for January contract (2.62%), Natural Gas for February contract (2.43%), Natural Gas for March contract (2.31%), Cardamom for April contract (1.96%) and Cardamom for March contract (1.78%) (At 3:00 P.M today)

Similarly the top losers at MCX future are Mentha Oil for January contract (-1.54%), Mentha Oil for February contract (-1.46%), Mentha Oil for March contract (-1.34%), Potato TRWR for March contract (-0.96%) and Potato for April contract (-0.38%). (At 3:00 P.M today)

The top gainers at NCDEX future are Coriander for March contract (3.7%), Coriander for February contract (3.6%), Coriander for January contract (3.3%), Chilli for April contract (3.1%) and Guar Gum for June contract (2.8%). (At 2:59 P.M today)

Similarly the top losers at NCDEX future are Guar Gum for May contract (-1.6%), Steel Long for April contract (-1.3%), Turmeric for May contract (-1.2%), Kapas for February contract (-1.1%) and Steel Long for January contract (-1.1%). (At 2:59 P.M today)

On the domestic arena, at MCX future, Crude Oil for January contract is trading at Rs 4,121.00 against Previous close price of Rs 4,087.00 (up by 0.83%). (At 2:58 P.M today)

Gold for February contract is trading at Rs 20,769.00 against Previous close price of Rs 20,750.00 (up by 0.09%). (At 2:58 P.M today)

Natural gas for January contract is trading at Rs 204.20 against Previous close price of Rs 198.80 (up by 2.72%). (At 2:59 P.M today)

Silver for March contract is trading at Rs 46,475.00 against Previous close price of Rs 46,264.00 (up by 0.46%) (At 3:00 P.M today)

On the domestic front, the Reserve Bank of India has allowed 7 more banks to import gold and silver. With this, the total number of banks that can ship precious metals in the country has increased to 30.

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