Commodity Tips and Stock Market News For 6 April 2015

Stock Market News: Crude oil futures plunged in the domestic and overseas market on Thursday after Iran and six global powers reached an accord over a landmark nuclear deal that could ease Western sanctions against the Islamic nation, boosting Iran’s crude oil exports, exacerbating a global oil over supply. At MCX, Crude oil futures, for the April 2015 contract, ended at Rs 3,017 per barrel, downward by 1.15 %, after opening at Rs 3,125, against the last close price of Rs 3,152. It touched an intraday low of Rs 2,999 till the ending.

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ULTRA FUTURES

ULTRA FUTURE: BUY WOCK PHARMA ABOVE 1902 TGTS 1907/1914 SL 1897

STOCK FUTURES

FUTURE: SELL BPCL BELOW 807 TGTS 804/798/791 SL 811 

ULTRA FUTURES

ULTRA FUTURE: WOCK PHARMA HIT 1ST TGT 1907 BOOK PART PROFIT

ULTRA FUTURES

ULTRA FUTURE: BUY ASIAN PAINTS ABOVE 830 TGTS 835/842 SL 825 

STOCK FUTURES

FUTURE: BUY WOCK PHARMA ABOVE 1908 TGTS 1911/1916/1923 SL 1904

ULTRA FUTURES

ULTRA FUTURE: ASIAN PAINTS MADE A HIGH OF 834 NEAR TO OUR 1ST TGT 835 BOOK PART PROFIT

STOCK FUTURES

FUTURE: SELL BHARAT FORGE BELOW 1353 TGTS 1347/1337/1323 SL 1361

STOCK FUTURES

FUTURE: BHARAT FORGE ALMOST HIT 1ST TGT 1347 LOW OF 1347.70 BOOK PRT PROFIT

FUTURE BONANZA

FUTURE BONANZA: BUY LT ABOVE 1747 TGTS 1767/1795 SL 1727

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OPTION: BUY IDFC 170 PUT ABOVE 3.65 TGTS 4.15/4.90/6.15 SL 2.90

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ULTRA CASH: SELL TORNTPHARMA BELOW 1235 TGTS 1225/1210 SL 1247

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EQUITY HNI: BUY BAJAJFINSV ABOVE 1223 TGTS 1235/1250 SL 1209

STOCK OPTIONS

OPTION: BUY CIPLA 720 CALL ABOVE 25.75 TGTS 27.75/30.75/35.75 SL 22.75

Gold futures ended lower in the domestic market on Thursday as investors and speculators exited positions in the precious metal as Iran and the West negotiated a nuclear accord that paves way for lifting economic and financial sanctions against the Islamic nation, easing geopolitical concerns, curbing the lure for safe haven assets. At MCX, Gold futures for June 2015 contract ended at Rs 26,597 per 10 gram, downward by 0.46 % after opening at Rs 26,728, against the last ending price of Rs 26,719. It touched the intra-day low of Rs 26,500 till the ending.

Chana prices ended higher 1.83 % on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the traders enlarged their holdings in the commodity on account of the good demand in the market. At the NCDEX, chana futures for April 2015 contract ended at Rs. 3,675 per quintal, up by 1.83 %, after opening at Rs. 3,602 against the last ending price of Rs. 3,609. It touched the intra-day maximum of Rs. 3,679.

Mustard seed prices ended higher by 1.38 % on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the decline in the supply for the commodity in the major markets. At the NCDEX, mustard seed futures for April 2015 contract ended at Rs. 3,454 per quintal, up by 1.38 %, after opening at Rs. 3,415 against the last ending price of Rs. 3,407. It touched the intra-day high of Rs. 3,462.

Natural Gas futures rallied in the domestic and overseas market on Thursday as investors and speculators booked fresh positions in the energy commodity as a bigger than expected drop in US gas supplies signaled improving demand for the heating fuel in the world’s biggest gas consumer. At MCX, Natural Gas futures for April 2015 contract ended at Rs 169 per 1 kg, up by 3.17 % after opening at Rs 163.5, against the last ending price of Rs 163.8. It touched the intra-day high of Rs 170.2 till the ending.

Zinc futures soared in the domestic market on Thursday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for zinc from the domestic spot market. At MCX, Zinc futures for April 2015 contract ended at Rs 132.45 per 1 kg, up by 1.38 % after opening at Rs 130.9, against the last ending price of Rs 130.65. It touched the intra-day high of Rs 132.8 till the ending.

Barley prices ended lower by 0.49 % on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the investors booked profits at the higher on account of the weak physical markets and also due to the fall in the demand from beer and cattle-feed makers. At NCDEX, barley futures for April 2015 contract ended at Rs. 1,115.50 per quintal, downward by 0.49 %, after opening at Rs. 1,125 against the last ending price of Rs. 1,121. It touched the intra-day low of Rs. 1,111.50.

Maize prices ended lower by 1.28 % on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of heavy selling activity by the traders on account of higher global supplies and weak offtakes from the local buyers. At NCDEX, maize futures for April 2015 contract ended at Rs. 1,232 per quintal, downward by 1.28 %, after opening at Rs. 1,257 against the last ending price of Rs. 1,248. It touched the intra-day low-lying of Rs. 1,221.

Jeera prices ended higher by 0.96 % on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the investors increased their holdings in the commodity in the midst limited arrivals from growing regions. At NCDEX, jeera futures for April 2015 contract ended at Rs. 14,705 per quintal, up by 0.96 %, after opening at Rs. 14,550 against the last ending price of Rs. 14,565. It touched the intra-day maximum of Rs. 14,800.

About Forex Market

Rupee gains 37 paise to 62.12 against dollar in trade

The rupee appreciated by 37 paise to 62.12 across the dollar in trade today at the Interbank Foreign Exchange after the American currency weakened overseas among a bigger opening in the domestic equity market. Besides selling of the American currency by exporters and banks, weakness in the dollar across other currencies on dispiriting jobs data supported the rupee. The rupee had closed 18 paise bigger at 62.49 against the American currency on Tuesday on selling of dollars by banks and exporters on expectation of restart of foreign capital arrival into equity market.