Daily Commodity Market News By Epic Research - 12th February 2014

COMMODITY WRAPUP

GOLD

GOLD MCX Short term trend is UP, Immediate support @ 28880Immediate Resistance @ 29200 GOLD MCX Closed

@ 28935.00 Yesterday Intraday Range of GOLD MCX was 194 Volumes were 10296 lots. For today Keep a close eye

on US data, volatility may Rule the overall Market due to USDINR Movements.

BUY GOLD(APR) ABOVE 29180 TGTS 29260/29360 SL 29050

SELL GOLD(APR) BELOW 28800 TGTS 28720/28620 SL 28920

SILVER

SILVER MCX Short term trend is UP, Immediate support @ 44600 Immediate Resistance @ 45250 SILVER MCX Closed @

44670.00 . Yesterday Intraday Range of SILVER MCX was 509. Volumes were 12310 lots. For today Keep a close eye on US

data, volatility may Rule the overall Market due to USDINR Movements.

BUY SILVER ABOVE 45050 TGTS 45250/45550 SL 44700

SELL SILVER BELOW 44600 TGTS 44400/44100 SL 44950

DHANIYA

Daily chart of Dhaniya Apr shows bullishness and it will continue its rally from nearest support level to upper side.

Fundamentally also Dhaniya is in bullish trend. Recommending buy on dips with

Immediate support @ 9330 and immediate resistance @ 9430.

BUY DHANIYA APR 9430 TGTS 9460,9510 SL 9380

SELL DHANIYA APR BELOW 9330 TGTS 9280,9230

SPECIAL NEWS

The Union Minister for Commerce & Industry Anand Sharma has asserted that India remains one of the top destinations for Foreign Direct Investment, despite the economic slowdown. Sharma said India’s current economic growth is not commen surate with its potential and the country has capacity to grow

faster. He said that India is looking to create as many as 100 million skilled jobs in the manufacturing sector by raising its share of GDP to 25% from 16%. India’s Foreign Direct Invest ment policy has been progressively liberalized to make the regime more investor friendly. India’s car sales dropped 7.6% to 160289 vehicles in January 2014 compared to the same month last year, recording their

the fourth straight month of decline, according to figures released by the Society of Indian Automobile Manufacturers (SIAM), in a market set to fall for the second straight year. Sales have fallen more than 5% so far this fiscal year that ends in March. Sales of passenger vehicles, which include cars and utility vehicles, dropped nearly 9% in January.

COMMODITY BUZZ

Gold rose to a three-month high on Tuesday, gaining nearly 1.5 percent after incoming Federal Reserve Chair Janet Yellen made it clear she would not make any abrupt changes to the central bank’s commitment to a measured tapering of bond purchases. Technical buying also accelerated gains after the metalcrossed above tough resistance at $1,280 an ounce. Bullion’s rally on Tuesday reversed its re-

cent strong inverse link with equities, which have been pressured by economic uncertainties and emerging-market jitters. The S&P 500 index climbed 1.3 percent. Technical buying also accelerated gains after the metal crossed above tough resistance at $1,280 an ounce. Bullion’s rally on Tuesday reversed its recent strong inverse link with equities, which have been pressured by economic uncer-

tainties and emerging-market jitters. The S&P 500 index climbed 1.3 percent. In her testimony before the U.S. House Financial Services Committee, Yellen said she strongly sup- ports the monetary policy approach driven by her predecessor, Ben Bernanke. The overall tone of Yellen’s comment is a carbon copy of the Fed’s existing policy under Benanke,so the market is relieved that there will be no tightening any time soon Bill O’Neill, partner of New Jersey commodities investment firm LOGIC Advisors

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: [email protected] Or visit our site that is http://www.epicresearch.co/

or

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