MCX-NSE-NCDEX-OPTION-STOCK-TRADING TIPS BROKERS ADVISORS HYDERABAD INDIA

Saturday, 27 July 2013

natural gas updates

support 209/208/0203 resistance221/225/228

S STOCKS CLOSE: The Dow Jones Industrial Average closed up 3.22 pts or 0.01% at..

US STOCKS CLOSE: The Dow Jones Industrial Average closed up 3.22 pts or 0.01% at  15,558.83, the Nasdaq Composite closed up 7.98 at 3613.16 or 0.22%, and the S&P500 closed up 1.40 pts or 0.08% at 1690.25. A strong showing in the latter half  of the session saw the indices recover all the lost ground from overnight and  early US dealings , with the Dow recovering over 150 points , although volumes  were noted to be on the weak side

bank nifty updates

sell bank nifty@10900-11000 target 10600/10450/10200

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stock market updates

Key domestic indices declined last week as investors sold shares after the RBI took additional steps to tighten liquidity to shore up the rupee. Earlier in the week, on 23 July 2013, to support the continuous fall in rupee, the central bank tightened liquidity further and made it even harder for lenders to access funds with measures including lowering the amount banks can borrow or lend under its daily liquidity window.

Though the measures helped the rupee rose to a five-week high of 58.69 on Friday (moving further from its record low of 61.21 hit earlier this month), but investors were again set to demand the government pay them handsomely to buy its bonds at an auction. A bond maturing in December 2020 was sold at a cut-off yield of 8.67 per cent, far higher than the 8.12 per cent coupon on the bond.

Post market, we had the Wipro BSE 1.74 % results. The company reported an 11 per cent y-o-y (3 per cent q-o-q) growth in the first quarter net profit from its continuing operations (IT business) at Rs 1,623 crore, and signalled that things were looking up going ahead.

The management said wage hikes effective June impacted its operating margins in Q1. However it is confident of the year ahead and said it is seeing higher confidence among clients and a pickup in large deal closures.

After a choppy week the index ended in the red. The Sensex ended at 19,748.20, losing 401.66 points, while Nifty ended at 5,886.20, losing 143 points, for the week.

On a short term chart of Sensex and Nifty, a rising or bear wedge formation is visible. The index had broken on the downside and fell sharply by more than 3 per cent. On a weekly chart of Sensex and Nifty, a diamond formation is visible with supports at 5,680 and 18,800 respectively on the longer view.

For the week, we expect the market to remain weak and one can look to keep 'sell on rise' strategies. The indicators on the short-term charts have turned negative supporting the bear formation.

Investors will also keenly watch the next set of Q1 June 2013 results and outcome of the RBI's monetary policy review on Tuesday. Although investors do not expect any hike ininterest rates or the cash reserve ratio, they will closely scrutinise its statement for clues about future action.

Other global factors like the outcomes of key policy meetings of the US Federal Reserve, theEuropean Central Bank and the Bank of England will also determine the near-term trend on the domestic bourses.

EURO-DOLLAR: Euro-yen sales force the euro lower back to mid range for the day...

EURO-DOLLAR: Euro-yen sales force the euro lower back to mid range for the day

with immediate support seen at $1.3260 ahead of stronger demand at $1.3250. The  dollar index so far has managed to hold above the 200 dma at 81.50 , but a break  below here could lead to more general pressurte on the dollar, and a test of the  upside sell orders into $1.3300. Current rate $1.3278

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US TSYS: Treasuries still continue in the narrow higher price range, as market...

US TSYS: Treasuries still continue in the narrow higher price range, as market

slumbers into the weekend, with eyes however peeled in case of a potential  German sovereign ratings downgrade, but so far no such downgrade came out.  Traders expected that macro funds still needed to cover shorts. US 10-year note  is at 2.564%, 2-year is at 0.313%. Traders noted copper prices are being hurt  with the copper price off 2.65% on the day and natural gas, coffee, silver and  aluminum and crude oil also weaker. "Copper has rolled over," toward the  downside, said one trader. US stocks indexes are mildly lower

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bullion updates

MUMBAI: Gold prices rebounded at the domestic bullion market today due to renewed buying by stockists and traders, coupled with some low level local buying interest.

Silver also recovered moderately on speculative off-take. Standard gold of 99.5 per cent purity rose Rs 190 to close at Rs 27,695 per 10 gm from Thursday's closing level of Rs 27,505.

Pure gold of 99.9 per cent purity also gained Rs 185 to finish at Rs 27,830 per 10 gm from Rs 27,645.

Silver ready (.999 fineness) moved up Rs 70 to conclude at Rs 41,590 per kg as against Rs 41,520 previously.

"Stockist are buying yellow metal ahead of festivals. Besides, short supplies due to government curbs are aiding the rise," a dealer said.

Gold eased in the overseas market though it was capped by slight slippage of dollar against major basket currencies ahead of Federal Reserve Policy meet next week.

In London, spot gold was bid down at USD 1,329.46 an ounce in early trade while silver was bid lower at USD 20.05 per ounce.

India's seizure of smuggled gold soars 365% in first quarter

NEW DELHI: Seizure of smuggled gold in India soared 365% in the first quarter of the year, a report said on Saturday, following curbs on imports of the precious metal to plug a yawning trade gap.

India, the world's largest buyer of gold, has twice hiked import taxes on bullion this year to discourage gold-buying and introduced other restrictions on purchases to rein in a record current account deficit, the broadest measure of trade.

In the April to June quarter of this financial year seizure of smuggled gold rose 365% over the same period last year, the Business Standard newspaper quoted a government revenue department official as saying.

gold updtaes

Gold prices fell on Friday after investors sold the commodity for profits stemming from Thursday's rally based on soft jobless claims.

The precious metal also fell amid ongoing uncertainty as to when the Federal Reserve will begin to taper its monthly USD85 billion bond-buying program, which has sent gold rising by keeping the dollar weak.

Gold and the dollar tend to trade inversely with one another.

On the Comex division of the New York Mercantile Exchange, gold futures for August traded at USD1,319.75 during U.S. afternoon hours, down 0.68%.

The August contract settled up 0.70% at USD1,328.80 a troy ounce on Thursday.

Gold futures were likely to find support at USD1,308.75 a troy ounce, Thursday's low, and resistance at USD1,347.85, Tuesday's high.

Gold rose on Thursday after the Labor Department reported that the number of individuals filing for initial jobless benefits last week increased by 7,000 to 343,000 compared with expectations for a gain of 4,000 to 340,000.

The numbers weakened the dollar by keeping expectations alive the Federal Reserve will continue stimulating the economy, which was bullish for the yellow metal.

By Friday, profit takers sent prices falling as investors began preparing for next week, when the Bureau of Labor Statistics will release its July jobs report, which could provide markets with more indication as to when monetary stimulus programs may end.

Elsewhere, gold edged lower as a widely watched consumer sentiment gauge beat expectations and rekindled sentiments that the economy is improving and in less need of Fed support.

The Thomson Reuters/University of Michigan consumer sentiment rose more than expected in July, hitting 85.1from 83.9 in June.

Analysts had expected the index to rise to 84.0 this month.

The report also said that inflation expectations fell to 3.1% this month, from 3.3% in June.

Elsewhere on the Comex, silver for September delivery was down 2.10% at USD19.730 a troy ounce, while copper for September delivery was down 2.53% and trading at USD3.105 a pound

Friday, 26 July 2013

buy crude oil hold for target 6290/6320

Crude edges lower on global growth concerns, U.S. data support

U.S. crude oil prices moved lower on Friday amid lingering concerns that the Chinese and U.S. economies continue to battle headwinds, though better-than-expected consumer sentiment in the U.S. data curbed losses.

On the New York Mercantile Exchange, light sweet crude futures for delivery in September traded at USD104.50 a barrel during U.S. morning trade, down 0.97%.

The September contract settled up 0.09%, at USD105.49 a barrel on Thursday.

Earlier this week, a preliminary reading of China's HSBC manufacturing PMI fell to 47.7 in July from a final reading of 48.2 last month. Analysts had expected the index to rise to 48.6. A reading below 50 indicates a contraction, which continued to dampen spirits on Friday, as China is the world's second-largest consumer of oil.

Meanwhile in the U.S., the Labor Department said Thursday that the number of individuals filing for initial jobless benefits last week increased by 7,000 to 343,000 compared with expectations for a gain of 4,000 to 340,000, which dampened spirits somewhat though more upbeat consumer sentiment data provided some support.

The Thomson Reuters/University of Michigan consumer sentiment rose more than expected in July, hitting 85.1 from 83.9 in June.

Analysts had expected the index to rise to 84.0 this month.

The report also said that inflation expectations fell to 3.1% this month, from 3.3% in June.

The U.S. is the world's largest consumer of crude.

On the ICE Futures Exchange, Brent oil futures for September delivery were down 0.56% at USD107.05 a barrel, up USD2.55 from its U.S. counterpart.

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