Mcx Commodity Tips: Crude oil futures soared in the domestic and overseas market on Tuesday as investors and speculators booked fresh positions in the energy commodity as an unexpected decline in US crude supplies last week signaled a pickup in fuel demand in the world’s biggest crude oil consumer. US crude oil stockpiles fell by 1.5 million barrels in the week ended May 1, 2015, the American Petroleum Institute (API) said, compared to analysts’ estimates of an uptick of 1 million barrels. Moreover, a disruption of Libyan exports with protests leading to a stoppage of crude shipments to an eastern port in Libya, Africa’s biggest holder of oil reserves fanned speculation of tighter fuel supplies. Services activity in the US expanded at the fastest pace since November last month, signaling a pickup in the world’s biggest economy, lifting the demand outlook for the fuel. The gauge measuring US services activity rose to 57.8 in April from 56.5 in March, with a reading above 50 signaling expansion.
Investors cast aside a report which showed a drop in US consumer sentiment in May and that the country’s trade gap widened to the highest level in more than six years in March. The gauge measuring US consumer sentiment fell to 49.7 this month from 51.3 in April, TIPP said. The US trade deficit jumped 43.1 per cent to USD 51.4 billion in March 2015, the largest since October 2008.
At the MCX, Crude oil futures, for the May 2015 contract, closed at Rs 3,857 per barrel, up by 2.8 per cent, after opening at Rs 3,746, against the previous close price of Rs 3,752. It touched an intraday high of Rs 3,886 till the closing.
Zinc futures surged in the domestic market on Tuesday as investors and speculators booked fresh positions in the industrial metal as an upward revision in growth outlook in the 19-member Euro area economy lifted the demand outlook for zinc. The Euro area economy may expand by 1.5 % in 2015, upward from a previous forecast of 1.3 %. Moreover, speculation that China, the world’s biggest metals consumer, may bolster stimulus to help spur economic growth, also lifted the industrial metal.
At the MCX, Zinc futures for May 2015 contract closed at Rs 153.4 per 1 kg, up by 2.16 per cent after opening at Rs 149.95, against the previous closing price of Rs 150.15. It touched the intra-day high of Rs 153.85 till the ending.
Natural Gas futures closed lower in the domestic market on Tuesday as investors and speculators booked profits in the energy commodity after stellar gains in recent sessions when outlook for warmer weather in the US in the coming days bolstered cooling demand for the fuel from gas-fired power plants. At the MCX, Natural Gas futures for May 2015 contract closed at Rs 177.10 per 1 kg, down by 1.12 per cent after opening at Rs 178.8, against the previous closing price of Rs 179.1. It touched the intra-day low of Rs 176.5 till the closing.
Stock Market Trading Calls For 6 May 2015
ULTRA FUTURES
ULTRA FUTURE: SELL HEXAWARE BELOW 278 TGTS 275.50/272 SL 280.50
STOCK FUTURES
FUTURE: SELL BHEL BELOW 240.50 TGTS 239/236.50/233 SL 242.50
NIFTY FUTURES
NIFTY: SELL BANKNIFTY BELOW 18480 TGTS 18440/18380/18280 SL 18540
ULTRA EQUITY
ULTRA CASH: BUY KRBL ABOVE 179.75 TGTS 181.50/184 SL 177.50
ULTRA FUTURES
ULTRA FUTURE: HEXAWARE MADE A LOW OF 276 NEAR TO OUR 1ST TGT 275.50 BOOK PART PROFTI AT CMP
EQUITY TIPS
CASH: BUY GRANULES ABOVE 90 TGTS 90.75/92/95.75 SL 89
ULTRA FUTURES
ULTRA FUTURE: BUY ADANI PORTS ABOVE 346 TGTS 348.50/352 SL 343.50
STOCK FUTURES
FUTURE: SELL CENTURY TEXTILE BELOW 693.50 TGTS 690.50/685.50/678.50 SL 697.50
EQUITY HNI
EQUITY HNI: SELL ASIANPAINTS BELOW 770 TGTS 760/745 SL 782
STOCK FUTURES
FUTURE: CENTURY TEXTILE HIT 1ST TGT 690.50 LOW OF 689.10 BOOK PART PROFIT
STOCK FUTURES
FUTURE: BHEL HIT 1ST TGT 239 LOW OF 238.55 BOOK PART PROFIT
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