MCX DAILY LEVELS

DAILY

EXPIRY DATE

R4

R3

R2

R1

PP

S1

S2

S3

S4

ALUMINIUM

29 APR 2016

116.90

114.40

111.90

110.80

109.40

108.30

106.90

104.40

101.90

COPPER

29 APR 2016

362.80

353.10

343.45

339

333.70

329.30

324

314.30

304.60

CRUDE OIL

19 MAY 2016

3200

3110

3020

2978

2930

2888

2840

2750

2660

GOLD

03 JUN 2016

30444

30010

29576

29298

29142

28864

28708

28274

27840

LEAD

29 APR 2016

127.40

124.60

121.80

120.60

119

117.80

116.20

113.40

110.60

NATURAL GAS

26 APR 2016

171.40

164.40

157.40

154.90

150.40

147.90

143.40

136.40

129.40

NICKEL

29 APR 2016

679.70

655.60

631.50

616.50

607.40

592.40

583.30

559.20

535.10

SILVER

05 MAY 2016

43258

42239

41220

40602

40201

39583

39182

38163

37144

ZINC

29 APR 2016

138.60

134.80

131

129

127.20

125.20

123.40

119.60

115.80

MCX WEEKLY LEVELS

WEEKLY

EXPIRY

R4

R3

R2

R1

PP

S1

S2

S3

S4

ALUMINIUM

29 APR 2016

131.30

123.40

115.50

112.60

107.60

104.70

99.70

91.80

83.90

COPPER

29 APR 2016

401.20

377.10

353

343.80

329.90

319.70

304.80

280.70

256.60

CRUDE OIL

19 MAY 2016

3838

3509

3180

3058

2851

2729

2522

2193

1864

GOLD

03 JUN 2016

31703

30881

30059

29540

29237

28718

28415

27593

26771

LEAD

29 APR 2016

139.55

132.20

124.85

122.10

117.50

114.80

110.10

102.80

95.45

NATURAL GAS

26 APR 2016

203.40

184.40

165.40

158.90

146.40

139.90

127.40

108.40

89.40

NICKEL

29 APR 2016

.
736.70

694.10

651.50

626.50

608.90

583.90

566.30

523.70

481.10

SILVER

05 MAY 2016

49665

46394

43123

41554

39852

38283

38283

33310

30039

ZINC

29 APR 2016

143.40

137.80

132.20

129.60

126.55

124

121

115.40

109.80

Monday, 25 April 2016

WEEKLY MCX CALL

SELL CRUDEOIL MAY BELOW 2870 TGT 2788 SL 2956
SELL ZINC APR BELOW 124.90 TGT 122.90 SL 127.10

PREVIOUS WEEK CALL

SELL NATURAL GAS APR BELOW 126 TGT 119 SL 135.60 - NOT EXECUTED.
SELL GOLD JUN BELOW 28714 TGT 28498 SL 28931 - NOT EXECUTED.

FOREX DAILY LEVELS

DAILY

EXPIRY DATE

R4

R3

R2

R1

PP

S1

S2

S3

S4

USDINR

27 MAY 2016

67.50

67.30

67.15

67.05

66.95

66.85

66.75

66.60

66.40

EURINR

27 MAY 2016

76.60

76.25

75.90

75.70

75.55

75.35

75.20

74.85

74.50

GBPINR

27 MAY 2016

97.50

97.05

96.60

96.40

96.15

96

95.70

95.25

94.80

JPYINR

27 MAY 2016

62.90

62.20

61.45

60.95

60.70

60.20

59.95

59.20

58.50

FOREX WEEKLY LEVELS

DAILY

EXPIRY DATE

R4

R3

R2

R1

PP

S1

S2

S3

S4

USDINR

27 MAY 2016

68.7
5

68.15

67.50

67.25

66.90

66.60

66.30

65.65

65

EURINR

27 MAY 2016

77.8
0

77.05

76.30

75.90

75.60

75.20

74.90

74.15

73.40

GBPINR

27 MAY 2016

100.
20

98.75

97.25

96.75

95.80

95.30

94.35

92.85

91.40

JPYINR

27 MAY 2016

66.0
5

64.40

62.70

61.60

61

59.90

59.35

57.65

55.95

WEEKLY FOREX CALL

BUY EURINR APR ABOVE 75.35 TGT 76.35 SL 74.30
PREVIOUS WEEK CALL
SELL JPYINR APR BELOW 61.60 TGT 60.95 SL 62.10 - TGT ACHEIVED
SELL EURINR APR BELOW 75.25 TGT 74.30 SL 76.40 - CLOSED AT 75.03

NCDEX DAILY LEVELS

DAILY

EXPIRY DATE

R4

SYOREFIDR

20 MAY 2016

SYBEANIDR

20 MAY 2016

4406

RMSEED

20 MAY 20165

JEERAUNJHA

CHANA

R3

R2

R1

683.10

679.80

4348

4304

4259

4213

4167

4743

4679

4615

4591

4551

20 MAY 2016

18933

18243

17553

17296

20 MAY 2016

6092

5886

5680

R3

697.90 690.50

PP

S1

S2

S3

S4

660.90

653.50

4107

4057

4004

4527

4487

4423

4359

16863

16606

16173

15483

14793

5611

5474

5405

5268

5062

4856

R2

R1

PP

S1

S2

S3

S4

698.20

687.45

619.30

593

675.70 672.50 668.30

NCDEX WEEKLY LEVELS

WEEKLY

EXPIRY DATE

R4

SYOREFIDR

20 MAY 2016

SYBEANIDR

20 MAY 2016

4633

4505

4377

4302

4249

4174

4121

3993

3865

RMSEED

20 MAY 2016

5079

4907

4735

4651

4563

4479

4391

4219

4047

JEERAUNJHA

20 MAY 2016

19786

18776

17766

17403

16756

16393

15746

14736

13726

CHANA

20 MAY 2016

6501

6142

5783

5663

5424

5304

5065

4706

4347

750.80 724.50

671.90 661.15 645.60

WEEKLY NCDEX CALL

SELL RM SEED MAY BELOW 4450 TGT 4350 SL 4551
PREIOUS WEEEK CALL
BUY JEERA MAY ABOVE 16550 TGT 16900 SL 16238 - TGT ACHEIVED
BUY SOYABEAN JUN ABOVE 4270 TGT 4350 SL 4194 - MADE HIGH OF 4309

MCX - WEEKLY NEWS LETTERS

INTERNATIONAL NEWS
Bullion
Gold prices are trading near the Fridays closing level of $1230/ounce when it closed lower by more than 1.5 %,
as the U.S. dollar rose to its highest level against the yen in three weeks on after a report said the Bank of Japan
is considering expanding its negative rate policy to bank loans and could cut rates further at its two-day policy
review in this week. Separately, Gold imports declined by about 8% to $31.72 billion in 2015-16 due to weak
global price. India is the largest importer of gold in the world ,with most demand by the jewellery segment.
Gold prices moved down by 0.26 per cent to Rs 29,250 per 10 ten grams in futures
trading as participants booked profits at prevailing higher levels amid weak global cues. At the Multi
Commodity Exchange, gold for delivery in June fell by Rs 76, or 0.26 per cent to Rs 29,250 per ten grams in a
business turnover of 3,735 lots.Likewise, the yellow metal for delivery in far-month August traded lower by Rs
70, or 0.24 per cent to Rs 29,472 per ten grams in 81 lots. Analysts attributed the fall in gold futures to profitbooking by traders at existing levels and a weak global trend. Globally, gold fell 0.23 per cent to $1,247.40 an
ounce in Singapore. It's 20 days since jewellers ended their 40-day national strike against a new excise duty but
the demand for gold has not improved. However, the discounts that were quoted on the prices compared to its
cost of import have fallen sharply, from a high of $37.5 an ounce in mid-February and $25 in March to $5 now.
The discount has fallen more as the arbitrage window between the spot market and futures on the Multi
Commodity Exchange (MCX) was shrinking, rather than demand coming in. Ajay Kedia, director, Kedia
commodities, said: In the past fortnight, traders were buying gold from the spot market as it was quoted much
lower compared to the futures price and selling on the MCX at a higher price. As a result, the MCX price came
under pressure, while the discount in spot was getting reduced. It is now only $3.75 an oz."However, buyers are
still staying away because prices are still high. On Friday, standard gold closed at Rs 29,555 per 10g at the spot
market in Zaveri Bazar here, up Rs 5 from Thursday. Consumers have kept away from buying for two months.
In February, this was because there were wide expectation of the import duty being cut in the Union Budget.
March was lost in strike. Says a director of the Indian Bullion and Jewellers Association: Due to drought, rural
demand is almost absent. The marriage season demand, usually from March to early May, is lower at present
because of the strike." If gold prices stay high as at present even the Akshaya Tritiya demand might be
subdued". The latter occasion, on May 9, is considered a most auspicious occasion to buy gold.
Silver prices cooled on Friday after testing fresh 11 month highs and closed lower by 1.11 % on COMEX.
In data released Friday, the US flash manufacturing PMI for April came in at 50.8, below the forecast of 51.9
and under the previous reading of 51.5. Hedge funds and money managers raised their bullish position in
COMEX silver contracts to a record high in the week to April 19 when prices surged to an 11-month peak, U.S.
Commodity Futures Trading Commission data showed on Friday.Silver has recovered sharply to become the
best performing metal in the current round of commodity price spurt. However, investors who have not seen it
go above Rs 40,000 a kg in the past 19 months should either hold or book a profit, as their buying price would
have been lower. Silver has emerged in India as an alternative to gold in the past few years, especially since
import restrictions on the latter three years earlier. In the current calendar year, it has given a 23 per cent return;
gold's is 21 per cent.However, from a medium-term perspective, it is still trading at much lower prices. This is
because 55 per cent of the demand for it is in industrial use and the slowdown in China and other parts of the
world has lowered this. Data compiled by Sudheesh Nambiath, lead analyst with GFMS Thomson Reuters,
indicates import of 7,954 tonnes of silver in 2015, a rise of 16 per cent over 2014 and a third year of a record
high. In the past three years, India imported 20,615 tonnes and this is 25 per cent of the total silver mined over

those years. Cameron Alexander, manager, precious metals demand, Asia-GFMS TR, said: "Recent economic
data, especially from China, points to a slightly brighter outlook and a pick-up in consumer spending has raised
hope of a recovery across the broad commodities sector, with silver a beneficiary. Investors have also recognised
that silver has remain undervalued in comparison to gold." Recent recovery in the white metal was also reflected
in a falling gold to silver price ratio, the latter representing an ounce of silver that can be bought with one ounce
of gold. This has been rising continuously in recent years and on

Crude Oil
On 22nd April i.e. Friday, MCX crude oil hit an intraday high of Rs.2973, which was highest since 10th
s
week The advances come just days after the collapse of weekend talks aimed at negotiating an output freeze,
which had fuelled worries a global supply glut would continue.Upbeat economic readings from China -- the
world's biggest energy user -- expectations the Federal Reserve will not hike interest rates before June, and a
series of easing measures by central banks have fuelled optimism in world markets recently. Prices surged 4% to
near five-month highs Wednesday after the US energy department revealed the dip production last week to
levels not seen since October 2014. And at about 0400 today in Asia US benchmark West Texas Intermediate for
delivery in June was up 12 cents, or 0.27%, at $44.30 while Brent crude for June added eight cents, or 0.17%, to
$45.88. "The panic associated with the Doha meeting failure gradually faded away and the market has started to
look forward," said Margaret Yang, an analyst with CMC Markets in Singapore. Rising US shale production has
been a key contributor to the global oversupply, along with elevated output from other producers including Saudi
Arabia and Russia. However, gains were limited following dovish comments from European Central Bank
president Mario Draghi on the possibility of future interest rate cuts before the end of the year.

Base Metals
Commodities prices have been lifted by a wave of speculative investment, backed by a credit-driven pickup in
Chinese demand, with base metals caught up in a surge in iron ore prices, said analyst Lachlan Shaw at UBS in
Melbourne.Aluminium hit the highest in over eight months on Friday and copper touched a one-month peak, but
many analysts were wary that prices were stretched and could be due a correction lower with demand still
patchy. Strong buying lifted metals in the European afternoon as stops were hit and speculators chased prices
higher after they rallied on Thursday, partly on optimism about an economic rebound in top metals consumer
China. But many analysts have said underlying supply and demand do not justify the extent of the price gains.
The extent of speculators pushing up aluminium was highlighted by estimates from Marex Spectron showing the
speculative long on the LME this week had grown to 4.7 percent of open interest, the largest long seen since
November 2014. Metals also got support from firmer oil prices, heading for a third straight week of gains as
market sentiment turned more upbeat despite persistent oversupply.
Nickel prices were up by Rs 8.60 to Rs 627.90 per kg in futures market
today as speculators raised their bets amid a firming trend overseas and domestic demand. At the Multi
Commodity Exchange, nickel for delivery in May was trading notably higher by Rs 8.60, or 1.39%, to Rs 627.90
per kg, in a business turnover of 152 lots. The metal for delivery in April rose by Rs 8, or 1.30%, to trade at Rs
621.20 per kg in 4,199 lots. Analysts said apart from increased domestic demand from alloy-makers, firmness in
the base metals pack at the London Metal Exchange, supported the upside in nickel prices at the futures trade.
Amid a better trend at the spot market on rising demand from battery makers, lead rose
0.64% to Rs 118.60 per kg in futures trade today as speculators built up positions. Furthermore, a firming trend
in base metals overseas supported the upside in metal prices. At the Multi Commodity Exchange, lead for

delivery in May was up 75 paise, or 0.64%, at Rs 118.60 per kg, in a business turnover of 46 lots. Likewise, the
metal for delivery in April traded up by 65 paise, or 0.55%, at Rs 118 per kg in 296 lots. According to
marketmen, rising demand from battery makers at domestic spot markets and strength in base metals at the
London Metal Exchange helped lead futures trade higher.
Zinc up by 0.3% on global cues
Zinc futures traded higher by 0.32% to Rs 127.15 per kg today as traders created speculative positions,
tracking a firm trend overseas and uptick in demand in the domestic spot markets. At the Multi Commodity
Exchange, zinc for delivery in current month traded higher by 40 paise, or 0.32% to Rs 127.15 per kg in a
business turnover of 2,159 lots.Likewise, the metal for delivery in May edged up by 30 paise, or 0.23% to Rs
128.10 per kg in 84 lots. Market analysts attributed the rise in zinc futures to a firm trend at spot market on pick
up in demand from consuming industries and a firming trend on shrinking inventories.

NCDEX - WEEKLY NEWS LETTERS

Turmeric
Turmeric futures continued to trade higher during previous trade on steady sentiments in the market. May futures
traded higher on short covering while June and July futures closed higher as traders built fresh positions
expecting export demand. Upcountry buying is still limited in the spot markets. May futures closed the trade at
Rs.8548/quintal, up by 1.14% from its previous close while June and July posted gains of 0.99% and 1.51%
respectively. At Erode market, finger and gattah traded unchanged at Rs.8800- 9000/quintal and Rs.86008800/quintal respectively and arrivals increased to 9500 bags, higher by 2000 bags. Arrivals (in tonnes) at major
spot markets: Duggirala-61.2, Chamarajnagar- 27, Nanded-53, Sangli-278. NCDEX accredited warehouses have
3604 MT of valid stock and 40 MT of stock in process as on 22nd Apr 2016.

Coriander
Coriander futures all contracts traded strong during Fridays trading session on prevailing bullish factors. On
spot market front, at Kota market, Coriander Eagle and Badami variety prices remained unchanged at Rs. 7100,
Rs. 6600 per quintal respectively. On arrivals front, at Kota market total arrivals reported at around 7000
quintals, down by 3000 quintals from previous day's arrivals. Tailing from the spot market, coriander futures
traded positively and settled the day at Rs.17070 per quintal up by with 2.9% gains.Stock positions at the
NCDEX accredited warehouses are 418 tonnes and 0 MT are in process as on 21 Apr 2016.Overall, futures as
well as spot market traded on a higher note and settled the day in green.

Cardamom
Cardamom futures traded higher to reach upper circuit as expectations of fresh export orders from Saudi Arabia
supported the prices to trade higher. Drought like conditions in growing regions of Kerala and the expected
delay in harvesting of next year crop also supported the bullish movement. May futures closed at Rs.803.40/kg,
up by 3.77% while June and July futures posted gains of 3.45% and 2.95% respectively. Spot market is
witnessing steady buying activities even though arrivals are comparatively more during current time period.
During previous auctions, arrivals were at 144 tonnes, higher by 16 tonnes; max prices they traded during
auctions were Rs.1232/kg, higher by Rs.200 from its previous trade. As on 21st April 2016, MCX warehouses
have 35.20 MT stocks eligible for delivery.

 Jeera
Jeera futures all contracts traded strong during Fridays trading session on prevailing bullish factors.On spot
market front, at Unjha market jeera prices traded at Rs.17500 per quintal for machine cleaned variety and
Rs.15200 per quintal for raw during the day. On arrivals front, total arrivals reported around 28000 bags at
Unjha market. Tailing from the spot market, jeera futures traded positively and settled the day at Rs.17070 per
quintal up by with 2.9% gains.Stock positions at the NCDEX accredited warehouses are 2960 tonnes and 288
MT are in process as on 21 Apr 2016.On a cumulative note, both the futures as well as spot markets witnessed a
positive trend and settled the day in green

Chana
During Fridays trading session NCDEX Chana May opened positive and traded upside during whole day. At the
end of the day it closed northward by taking strong cues from the spot markets.NCDEX Chana May futures
ended the day at Rs 5543 per quintal which is about 3.99% up against the previous day.Government agencies
have made procurement of about 50,000 MT pulses from the farmers during the Kharif Marketing Season, 201516 and has contracted 25,000 MT of pulses for import.Center is also initiating procurement of Rabi pulses and
has targeted to procure around 1 00,000 MT of Chana and Masur to build the buffer stocks.SEBI has also
decided to implement various regulatory measures on Chana contracts which include increase in the margin for
controlling the speculation and price volatility in the market.For increasing pulses production government has
already increased MSP for pulses, by Rs.275 per qtl for Tur & Urad, and by Rs.250 per qtl for Moong.According
to the government's second advanced estimate for 2015-16, total pulses production has fallen short of the 20.05
million tonne target by 16%.

Guar Seed
Guar seed futures traded on higher note after traders raised their bets amid a firm trend in physical markets. The
most active guar seed future ended the day at Rs. 3,557/quintal by posting a gain of 3.52% during Fridays
trading session.Similarly, guar gum also traded up as demand was seen from domestic industrial users which
supported the futures prices to move up on Friday. Near month guar gum contract settled at Rs. 6,210 per quintal
up by 3.85%.Total arrivals were reported around 105 MT at major trading centers in Rajasthan, whereas spot
prices of guar seed at Jodhpur spot market quoted at Rs. 3,200/quintal on Fridays trading day.Stock position of
guar seed and guar gum at NCDEX warehouses were reported 33,716 MT and 33,908 MT respectively, whereas
187 MT and 70 MT were in process as on 22 April 2016.According to NCDEX circular, from futures of
November onwards lot size of guar gum will be 5 MT instead of 10 MT. Similarly, tick size will be Rs. 1 instead
of Rs. 10. Futures contract will be known as Guar gum 5.

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