NCDEX CHANA TIPS

CHANA RISES AT DELHI MANDI

Date: 02/04/2012

The spot prices of Akola mix were reported at Rs 3450 per quintal and Chapa quality were at Rs 3600 per quintal, up Rs 150 per quintal from the previous day. While the total daily arrivals were hovering at the levels of around 3 lakh bags in the entire major mandis against 2.80 lakh bags on last day.

State-wise Arrivals Summary :

State	Arrivals ( in Bags)
Maharashtra	20000
Madhya Pradesh	200000
Uttar Pradesh	30000
Rajasthan	30000
Others	20000

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MCX CRUDE OIL NEWS

CRUDE OIL INCHES HIGHER ON UPBEAT CHINESE FACTORY DATA

Date: 30/3/2012

Crude oil prices inched higher on the first trading session of a fresh quarter after rising by more than 4 percent in the previous quarter as sentiments got supported by the encouraging Chinese manufacturing data which showed factory activity gained momentum for a fourth straight month to 11 month high levels in March, easing worries over world’s second largest oil consuming economy’s hard landing. While, the weakness in US dollar and concerns over supply disruption amid lingering tension over Iran and its nuclear ambitions also continued to support the oil prices.

Benchmark crude for May delivery gained $0.16 or 0.15% to $103.18 a barrel an ounce on the New York Mercantile Exchange. In London, May delivery Brent crude added $0.23 to $123.11 a barrel on the ICE.

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NCDEX CHANA TIPS

CARDAMOM PLUMMETS, EXPECTING RECOVERY FROM LOWER LEVELS

Date: 30/3/2012

Cardamom futures slumped by more than 1% today due to strong arrivals in major trading station due to steady production in the last year. Traders are still expecting some strength at lower levels.

As per market sources , total arrivals of around 14,829 tonnes of cardamom have been reported at auction centres against 8,174 tonnes that were reported last year in the same year . This was mainly due to strong production in the last year. This has prompted strong stockiest selling at higher levels.

However, traders are expecting that paucity of rainfall in the major cardamom growing areas such as Idukki and Kumali of Kerala might impact the cardamom plant growth severely in the current year. Traders are expecting that the total production of cardamom is likely to decline by 50-75% in the current year. This might incite the strong demand of stockiest and exporters at lower levels.

The MCX April Cardamom futures plunged by almost Rs 14 per kg today to trade at Rs 1165 per kg . Traders are expecting some bargain buying at around Rs 1120-1140 per kg while resistances are likely at Rs 1250-1270 per kg.

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MCX GOLD NEWS

GOLD CONSOLIDATES AFTER REGISTERING 6.6% RISE IN FIRST QUARTER

Date: 02/04/2012

After registering a 6.6 percent rise in the first quarter, gold prices showed signs of consolidation on the first day of the second quarter as investors remained on the sidelines, lacking any significant catalyst to open fresh bets. Downside in the yellow metal prices remained capped after reports showed better than expected rise in Chinese manufacturing activity while the weakness in US dollar too made the precious metal cheaper for overseas investors.  www.goldennifty.com

Gold futures for June delivery eased 0.1% to $1,670.20 an ounce on the Comex division of the New York Mercantile Exchange, whereas the spot gold prices edged down $0.44 to $1,668.33 an ounce. www.goldennifty.com

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MCX ALUMINIUM TIPS

ALUMINIUM PLUNGED TO 6-WEEK'S LOW AT MCX

Date: 02/04/2012

Aluminium plunged to further lows at MCX with a sharp fall during the week and stood near to the major support level of Rs 108 per kg. Huge short selling with 22% rise in its open interest to 5566 lots hammered the metal at domestic bourses MCX. Aluminium slumped by 1.1% or Rs 1.1 to Rs 104.85 per kg with its high at Rs 105.2 per kg and low at Rs 103.5 per kg on Friday, 30th March. The contract stood below 9-day EMA and RSI stood in oversold region at 21.02. Any positive news out of global market might help the short sellers to cover their positions.

At LME, Aluminium shed for the second consecutive day by 0.3% at $2139.5 per tonne on Friday. The Chinese demand growth woes overshadowed the sanguine data from the US and overwhelmed the metal. But, the decline in aluminium inventories by 5225 tonnes to 5063,350 tonnes yesterday weighed on the sentiment.

Aluminium at MCX is likely to find support at Rs 107.7 per kg to Rs 107.3 per kg and resistance at Rs 109.2 per kg and Rs 110.1 per kg on Monday, 2nd April.

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