Daily Commodity Market News By Epic Research - 25th February 2014

COMMODITY WRAPUP

GOLD

GOLD APR. ABOVE 30220 TGTS 30300,30420 SL 30130

SELL GOLD APR. BELOW 30035 TGTS 29955,29825 SL 30125

SILVER

BUY SILVER MAR ABOVE 48250 TGTS 48450,48650 SL 47900

SELL SILVER MAR BELOW 47850 TGTS 47650,47450 SL 48200

GUARGUM

Guargum March contract short term trend is “consolidate ” Immediate support @ 12900 Immediate Resistance @ 13070

Today guargum March closed @ 13010. intraday range was 430 pts. trend is Sideways to bearish in daily chart. Momentum

indicate RSI is below mid range signs down side.

BUY GUARGUM ABOVE 13070 TGTS 13120,13220 SL 12990

SELL GUARGUM BELOW 12900 TGTS 12850,12750 SL 12990

SPECIAL NEWS

Global rating agency Moody’s Investors Services on Mon- day warned that Indian banks will require more capital than what the government has allocated in last week’s in- terim budget. “Last Monday, India’s government unveiled its interim budget for the fiscal year starting in April, allo- cating Rs.11,200 crore ($1.8 billion) for capital injections into public sector banks,” Moody’s said. “The allocation is credit negative for public sector banks because it is much smaller than the Rs.25,000-36,000 crore ($4.1-$5.8 billion) that we estimated the banks needed to meet a minimum tier 1 ratio of 8% in the fiscal year ending March 2015.

German business confidence continued to rise for a fourth straight month in February, with the Ifo business climate survey climbing to a better-than-expected 111.3, from 110.6 in January. Analysts surveyed by FactSet expected a reading of 110.5. The index, which measures the current business climate in Europe’s largest economy and, measures expectations for the next six months, was expected to regis- ter the same reading as in January. The German Current Assessment index, which measures current business condi- tions in Germany, was at 114.4, up from January’s 112.4

COMMODITY BUZZ

The stocks of gold mining companies. In the recent past, these have served as good indicators. The action in gold mining stocks is serving as a useful lead indicator for the price of bul- lion, with Newcrest Mining, for example, up 30% year-to- date. Gold mining stocks were certainly a lead indicator for the decline in gold prices last year,” Wood said in his periodic „Greed and Fear‟ report, released earlier this month. The report added those who had taken contrarian calls on gold would have been well rewarded.

The Indian steel market cannot but remain flat, as growth con- tinues to elude the commodity’s principal consumption points such as construction, automobiles and machinery-building. Braving resistance from buyers, steel makers raised prices by Rs 1,000-1,200 a tonne in the past three months, across long and flat products, to defray cost rises.The Indian steel market cannot but remain flat, as growth continues to elude the com- modity’s principal consumption points such as construction, automobiles and machinery-building. Braving resistance from buyers, steel makers raised prices by Rs 1,000-1,200 a tonne in the past three months, across long and flat products, to defray cost rises.

Epic Research is a leading financial services provider with presence in Indian and other global capital markets. Provides Stock Tips, Forex Tips, Commodity Tips, MCX Tips, Equity Tips, Intraday Tips, Stock Futures Tips, NSE Tips, BSE Tips, COMEX Tips, NCDEX Tips. Share Tips We provide services in equity, commodity and Forex market.

 

Our research is based around these services:

 

MCX Trading Tips

 

GET FREE TRIAL +91 731 6642300

 

Or mail us here: info@epicresearch.co Or visit our site that is http://www.epicresearch.co/

or

https://www.epicresearch.co/research/daily-reports/commodity