Mcx commodity tips: Crude oil futures surged in the domestic and overseas market on Wednesday as investors and speculators booked fresh positions in the energy commodity as a weaker dollar boosted the demand for the fuel as an alternative asset. Weaker greenback makes crude cheaper for those holding other currencies, thus bolstering demand. Further, better than expected US stockpiles data eased fears over a worsening global supply glut. While US crude supplies rose for a sixteenth week on the trot to a record high, those at Cushing, the US’ largest oil storage hub fell. EIA said that US crude supplies climbed 1.91 million barrels to 490.9 million barrels in the week ended April 24, 2015, compared to analysts estimates of a 3.3 million barrels uptick. Meanwhile, stockpiles at Cushing fell by 514,000 barrels to 61.7 million barrels last week. Refineries in the US operated at 91.3 per cent of their capacity, up from 91.2 per cent in the last week, signaling a pickup in fuel desired. Investors shrugged off tepid US GDP data which showed that the world’s biggest economy grew only 0.2 per cent in Q1 following a 2.2 per cent increase in the previous quarter with gains in consumer spending slowing to 1.9 per cent from 4.4 per cent in Q4. Meanwhile, contracts to buy previously owned homes in the US rose sharply last month, signaling a pickup in the country’s housing market, supporting crude. US pending home sales climbed 1.1 per cent in March from the previous month when they climbed a revised 3.6 per cent. Oil may extend a rally today as slowing gains in US supplies boost sentiment. At the MCX, Crude oil futures, for the May 2015 contract, ended at Rs 3,755 per barrel, upward by 3.56 per cent, after opening at Rs 3,607, against the previous close price of Rs 3,626. It touched an intraday high of Rs 3,771 till the closing.
Securities in Ban For Trade Date
30-APR-2015: as per www.nse-india.com
1. CENTURYTEX
2. UNITECH
Free trading tips:
STOCK FUTURES
FUTURE: SELL INDIAN OIL CORPORATION(IOC) BELOW 347 TGTS 345.50/342/338.50 SL 349
EQUITY HNI
EQUITY HNI: BTST TORNTPHARMA HIT 1ST TGT 1230 HIGH OF 1238.70 REC TO BUY @ 1215 BOOK PART PROFIT
STOCK FUTURES
FUTURE: BUY APOLLO TYRE ABOVE 173.50 TGTS 174.25/175.50/177.25 SL 172.50
STOCK FUTURES
FUTURE: APOLLO TYRE HIT 1ST TGT 174.25 HIGH OF 174.55 BOOK PART PROFIT
EQUITY HNI
EQUITY HNI: BUY ORISSAMINE ABOVE 2615 TGTS 2645/2700 SL 2580
ULTRA FUTURES
ULTRA FUTURE: SELL PNB BELOW 158 TGTS 156/153.20 SL 160
ULTRA EQUITY
ULTRA CASH: BUY NAUKRI ABOVE 785 TGTS 792/802 SL 777
ULTRA FUTURES
ULTRA FUTURE: BUY HIND PETRO ABOVE 620 TGTS 625/632 SL 615
ULTRA FUTURES
ULTRA FUTURE: HIND PETRO ALMOST HIT OUR 1ST TGT 625 HIGH OF 624.90 BOOK PART PROFIT
COMEX PACK
COMEX: BUY CRUDE OIL ABOVE 58.70 TGTS 59.20/59.90 SL 58.20
ULTRA EQUITY
ULTRA CASH: LIVHSGFIN BUY CALL HIT 1ST TGT 435 BOOK PART PROFIT
Chana prices closed lower by 0.05 per cent on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the steady sowing progress of pulses along with high supplies in major producing states. At the NCDEX, chana futures for May 2015 contract closed at Rs. 4,205 per quintal, down by 0.05 %, after opening at Rs. 4,210 against the last closing price of Rs. 4,207. It touched the intra-day low of Rs. 4,185.
Gold futures closed higher in the domestic market on Wednesday as investors and speculators booked fresh positions in the precious metal as a weaker dollar boosted the demand for the precious metal as an alternative asset. Weaker greenback makes gold cheaper for those holding other currencies, thus bolstering demand. Further, the US Federal Reserve stuck to its record low interest rate policy stance amid slowing growth in the world’s biggest economy, bolstering the appeal of the bullion as a store of value. The Fed re-iterated that it will undertake a maiden US interest rate lift-off since 2006, only when it sees improvement in the labour market while it saw inflation moving back to the 2 per cent goal gradually. With the economy barely growing up in Q1 and consumer spending & job gains slowing, analysts have pared back expectations of an initial rate rise to September from June earlier. Gold may extend gains today amid dimming expectations of a near-term US rate hike.
At the MCX, Gold futures for June 2015 contract closed at Rs 27,238 per 10 gram, up by 0.18 per cent after opening at Rs 27,123, against the last ending price of Rs 27,190. It touched the intra-day maximum of Rs 27,274 till the closing.
Zinc futures raised in the domestic market on Wednesday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for zinc in the domestic spot market. Investors cast aside a drop in economic sentiment in the Euro area which signaled a slowing recovery in the 19-member economy. The gauge measuring Euro area economic sentiment fell to 103.7 in April from 103.9 in March.
At the MCX, Zinc futures for April 2015 contract closed at Rs 165.6 per 1 kg, up by 2.79 per cent after opening at Rs 161.1, against the previous closing price of Rs 161.50. It touched the intra-day high of Rs 166.6 till the closing.
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