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MCX NEWSLETTER- DAILY

23rd APRIL2013

Daily MCX Newsletter 23rd April2013

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Market News
The US markets end positive, reversing their earlier declines, as strong gains in materials and energy offset weak housing data. The CBOE volatility index declined below 15. Dow Jones Industrial Average was up 0.14% or 19.66 points at 14567.17. Nasdaq Composite gained 0.86% or 27.49 points at 3233.55. Standard & Poor's 500 rose 0.47% or 7.25 points at 1562.5. The precious metal had rallied to an 11-month high in October last year after the Fed announced its third round of aggressive economic stimulus, raising fears the central bank's money-printing to buy assets would stoke inflation. On economic data front, existing home sales ticked lower by 0.6 percent in March to a seasonally adjusted annual rate of 4.92 million. In key data to watch out for in the US today, new home sales are seen coming slightly higher at 419,000. Also watch out for data from the PMI manufacturing index flash. In the currency space, the euro was steady above 1.30 to the dollar. The dollar index was at 82.70 marks, meanwhile the yen firms versus the dollar. In commodities, Brent crude was back above USD 100 a barrel. From the precious metals space, gold prices rebound, currently at USD 1425 an ounce.

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Technical View

GOLD
OUTLOOK:
TREND RESISTANC SUPPORT STRATEGY : - CONSOLIDATE : - 26400, 26800 : - 25720, 25270 : - BUY ON DIPS

SILVER
OUTLOOK:
TREND RESISTANC SUPPORT STRATEGY HIGH : - CONSOLIDATE : - 44900, 45500 : - 43200, 42700 : - BUY ON DIPS

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CRUDEOIL
OUTLOOK:
TREND RESISTANC SUPPORT STRATEGY : - CONSOLIDATE : - 4900, 4950 : - 4750, 4700 : - BUY ON DIPS

COPPER
OUTLOOK:
TREND RESISTANC SUPPORT STRATEGY : - BEARISH : - 396, 400 : - 368, 365 : - SELL ON HIGH

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International Market
GOLD SILVER COPPER CRUDE OIL NATURAL GAS PALLADIUM PLATINUM 1424.37 23.14 3.0950 88.68 4.222 675.30 1430.50 USDINR EURUSD USDJPY USDCHF GBPUSD USDCAD 54.2020 01.3046 99.1400 00.9355 01.5276 01.0266

Pivot Level
SCRIPT GOLD SILVER CRUDEOIL COPPER R3 26872 45842 5202 402.20 R2 26425 45508 5058 397.30 R1 25980 44519 4980 389.70 P 25781 43758 4775 382 S1 25512 42998 4746 375.80 S2 25257 42267 4670 370.20 S3 25145 41568 4585 360.10

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