Browse Category: Share Market Tips

MCX Copper Market Update

MCX Copper may note some decline tracking cues from international exchange but buy on dips is suggested.LME Copper trades marginally lower after 2.5% gain yesterday. Profit taking after yesterday’s gain and position squaring ahead of Chinese Lunar New Year holidays has put pressure on copper price.

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However, supporting price are supply concerns amid strike worries in Chile. As per latest reports, the main union at BHP Billiton’s Escondida copper mine, the world’s largest, said the company’s latest offer is “irresponsible” and it will recommend its 2,500 workers begin a strike.

BHP Billiton yesterday revised its copper output for current fiscal year by 2% to 1.62 million tonnes. Concerns about Chinese supply rose yesterday as it plans to close aluminum plants to combat pollution. Also supporting price is sharp recovery in equity market amid optimism about US and global economy. However, this is offset by uncertainty about Trump’s economic policies.

Decline in stocks at exchange warehouses has also lent support. Stocks at LME warehouses fell by 2500 tonnes yesterday. With no major economic event today, copper may remain supported by supply worries relating to Chile. Support for MCX Copper February contract is seen at Rs.400 while resistance is seen at Rs.411.

Muted demand drags down lead futures by 0.61%

Lead futures fell during morning trade in the domestic market on Wednesday as investors and speculators trimmed their positions in the industrial metal amid subdued physical demand for lead, from battery-makers, in the domestic spot market.

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Further, a downward trend in physical demand from battery-makers in the domestic spot market, influenced prices of lead at futures trade. At the MCX, lead futures for January 2017 contract is trading at Rs 162.25 per kg, down by 0.61 per cent, after opening at Rs 162.75, against a previous close of Rs 163.25. It touched the intra-day low of Rs 162.05.

Imposition of MIP on steel a short term measure: Minister

The Indian Government has said that imposition of minimum import price (MIP) on steel is a short-term measure and it is taking permanent measures to counter unfair trade practices as per international norms. Commenting on the issue, a Steel Ministry Official told the media, “Chaudhary Birender Singh (Steel Minister) had emphasised that MIP is a short-term measure and not of a permanent nature.”

“In this connection, this is to clarify that the Minister was making a point in a wider context of providing level playing field to the Indian steel industry,” he added. “A total of 124 steel products have been covered by provisional anti-dumping duties and final orders on the same are expected in due course,” he further said.

As per reports, as a result of the safeguards and anti-dumping measures, out of 173 items on which MIP was initially imposed, only 19 items are currently notified under MIP. These are relating to colour-coated steel, primarily to avoid any circumvention of the duties. Two of colour-coated steel items are already covered under anti-dumping duties. 

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Abu Dhabi to help India fill its strategic oil reserves

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India’s quest for energy security got a major push on Wednesday after a pact that will see crude oil for strategic storage flow in from a state-run company of Abu Dhabi for meeting unexpected future exigencies.

The agreement was entered into between two state-run companies — the Indian Strategic Petroleum Reserves Ltd and the Abu Dhabi National Oil Company.

“Our energy partnership is an important bridge in our linkages. It contributes to our energy security,” Prime Minister Narendra Modi said, after overseeing the signing of the agreement and talks with the visiting Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed Al Nahyan.

“His Highness and I discussed ways to transform our energy ties in a strategic direction through specific projects and proposals. In this regard, long-term supply contracts and establishment of joint ventures in the energy sector can be beneficial avenues.”

Naturalgas Trading Range For The Day Is 212.4-225

Natural gas recovered from the days low on low-level buying and on the speculation that upcoming cold weather.Natural gas markets have been volatile in recent weeks, changing course rapidly in response to shifting outlooks in short-term weather patterns.Traders are looking ahead to weekly storage data due on Thursday, which is expected to show a draw in a range between 105 and 117bcf.

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  Natural gas on MCX settled down -0.72% at 220.20 while prices rebounded as support seen on low-level buying as prices were in oversold condition also support seen on the speculation that upcoming cold weather. About half of U.S. homes use natural gas for heating. Meanwhile, market participants looked ahead to weekly storage data due on Thursday, which is expected to show a draw in a range between 105 and 117bcf in the week ended January 20.

Total natural gas in storage currently stands at 2.917 trillion cubic feet, according to the U.S. EIA, 12.9% lower than levels at this time a year ago and around 2.6% below the five-year average for this time of year.

 

Technically market is getting support at 216.3 and below same could see a test of 212.4 level, And resistance is now likely to be seen at 222.6, a move above could see prices testing 225.

SOYABEAN NCDEX MARKET UPDATE NEWS

 Soyabean on NCDEX settled down by -0.77% at 3098 on the expectation of higher supply in the global market. US farmers are expected to plant 90.5 million acres of soybeans this spring, topping the record high set last year by about 7 million acres. 

Arrivals were marginally higher to 415,000 bags. With the sharp rise in domestic soy meal prices fresh exports are not seen forthcoming. Moreover, the decline in production in Argentina is likely to get offset by a bigger production forecast in Brazil.http://www.ripplesadvisory.com click here
India soybean meal was last traded at $368 per tonne FAS Kandla versus $400 per tonne Argentina, which means India soybean meal is around $32 per tonne discount with rival Argentina. Soybean arrivals in the country totalled at 290,000 bags against 2.75 on the previous session. Good quality soybean which contains 10% moisture traded in the range of Rs 2,975-3,050 per 100kg against Rs 3,000-3,080 on previous session. The United States department of agriculture (USDA) trimmed 2016-17 United States soybean production forecast for January also cut the forecast for ending stockpiles compared to previous month, the department said in its World Agriculture Supply and Demand Estimates report. 
                      Trading Ideas
  1. Soyabean trading range for the day is 3068-3148.
  2. US farmers are expected to plant 90.5 million acres of soybeans this spring, topping the record high set last year. 
  3. CDEX accredited warehouses soyabean stocks gained by 2599 tonnes to 166650 tonnes. 
  4. At the Indore spot market in top producer MP, soybean dropped -36 rupees to 3081 rupees per 100 kgs.

Muted demand bites cardamom futures

Cardamom futures were trading lower during morning trade in the domestic market on Tuesday as investors and speculators trimmed their bets in the agri-commodity amid muted physical demand for cardamom in the domestic spot market.

Further, sufficient supplies on higher physical arrivals from the major cardamom producing regions, influenced the downward trend in the domestic cardamom prices. At the MCX, cardamom futures for February 2017 contract is trading at Rs 1515 per kg, down by 0.35 per cent, after opening at Rs 1518, against a previous close of Rs 1520.30. It touched the intra-day low of Rs 1510.20.

 

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कच्चे तेल में बढ़त, सोने में जोरदार चमक

डॉलर में कमजोरी के बाद अंतर्राष्ट्रीय बाजारों में क्रूड के दाम में बढ़ोतरी हुई है, फिलहाल ब्रेंट क्रूड 55 डॉलर के ऊपर ट्रेड कर रहा है। डॉलर एक महीने के निचले स्तर पर पहुंच गया है लेकिन सोने ने 2 महीनों की ऊंचाई को छू लिया है।

शेयर मार्केट में बेहतर निवेश सम्बन्धी जानकरी के लिए हमारी वेबसाइट पे विजिट करे http://ripplesadvisory.com

 

  1. कच्चा तेल एमसीएक्स: खरीदें – 3580, स्टॉपलॉस – 3500, लक्ष्य – 3700.
  2. सोना एमसीएक्स: खरीदें – 28750, स्टॉपलॉस – 28500 लक्ष्य – 29000.

Gold steady as unease with Trump policy weighs on dollar

Gold prices were steady on Tuesday as the dollar remained under pressure on signs that United States President Donald Trump would adopt a protectionist stance on trade.

http://www.ripplesadvisory.comSpot gold was mostly unchanged at $1,217.42 per ounce by 0337 GMT, after hitting their strongest since Nov. 22 at $1,219.59 earlier in the session. Spot gold looks exhausted and may again fail to break a strong resistance at $1,219 per ounce before retracing towards a support at $1,196, according to Reuters technical analyst Wang Tao.

U.S. gold futures inched up 0.2 percent, to $1,218.

Trump formally withdrew the U.S. from the Trans-Pacific Partnership trade deal on Monday and told U.S. manufacturing executives he would impose a hefty border tax on firms that import products after moving American factories overseas.

Cabinet okays MoU with UAE for cooperation in agriculture

The government has approved the signing of an agreement between India and the United Arab Emirates in the area of agriculture and allied sectors.

“The Union Cabinet, chaired by the Prime Minister Narendra Modi, has given its approval for signing of Memorandum of Understanding (MoU) between India and the United Arab Emirates in the field of agriculture and allied sectors,” an official statement said.

“It will promote understanding of best agricultural practices in the two countries and will help in better productivity at farmer fields as well as improved global market access leading to equity and inclusiveness,” it said.

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The cooperation in agricultural technology would lead to innovative techniques for increasing productivity leading to strengthening of food security, the statement said.