DAILY COMMODITY MARKET STRATEGY-17 JUNE 2014

BASE METAL WRAP: 

Copper futures rose for the second straight session on signs that demand will pick up as economies gain in China, the world’s top consumer of industrial metals, and the U.S. manufacturing output and factory data, the second-biggest.

ENERGY WRAP: 

West Texas Intermediate fell as a technical indicator shows last week’s increase to the highest price in nine months was excessive. Brent in London dropped amid speculation Iraqi forces will slow the advance of insurgents. U.S. crude inventories probably shrank by 750,000 barrels in the week ended June 13.

PRECIOUS METAL WRAP: 

Gold extended a decline from the highest level in three weeks before the U.S. Federal Reserve begins a two-day policy meeting today and as investors assessed the tension in Iraq and Ukraine. Silver for immediate delivery decreased 0.4 percent to $19.5828 an ounce. Silver is taking its cues from gold but also being weighed down by the IMF downgrade of US growth and disappointing data from China.

GLOBAL EVENTS TO WATCH: 

Monetary Policy Meeting Minutes, CPI y/y, German ZEW Economic Sentiment, Building Permits, Core CPI m/m, CPI m/m, Housing Starts.

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BULLIONS COMMODITY	AGRI COMMODITY
CS COPPER (JUNE) OVERVIEW: TREND CONSOLIDATE SUP1: 405 SUP2:400 RESIST1:410 RESIST2:416 TRADING STRATEGY: BUY ON DIPS CAPITALSTARS.COM +919200099927	CS CHANA (JULY) OVERVIEW: TREND CONSOLIDATE SUP1:2870 SUP2:2830 RESIST1:2935 RESIST2:2982 TRADING STRATEGY: BUY ON DIPS CAPITALSTARS.COM +919200099927 +919977499927
CS CRUDE (JUNE) OVERVIEW: TREND BULLISH SUP1:6400 SUP2:6350 RESIST1:6475 RESIST2:6550 TRADING STRATEGY: BUY ON DIPS CAPITALSTARS.COM +919200099927	CS JEERA (JULY) OVERVIEW: TREND CONSOLIDATE SUP1:10760 SUP2:10700 RESIST1:10980 RESIST2:11080 TRADING STRATEGY: SELL ON RISE CAPITALSTARS.COM +919200099927
CS GOLD (AUG) OVERVIEW: TREND CONSOLIDATE SUP1:26490 SUP2:26190 RESIST1:27100 RESIST2:27525 TRADING STRATEGY: BUY ON DIPS CAPITALSTARS.COM +919200099927	CS TURMERIC (JULY) OVERVIEW: TREND CONSOLIDATE SUP1:6200 SUP2:6150 RESIST1:6440 RESIST2:6680 TRADING STRATEGY: BUY ON DIPS CAPITALSTARS.COM +919200099927
CS SILVER (JULY) OVERVIEW: TREND CONSOLIDATE SUP1:41900 SUP2:41400 RESIST1:43000 RESIST2:43840 TRADING STRATEGY: SELL ON RISE CAPITALSTARS.COM +919200099927	CS SOYABEAN (JULY) OVERVIEW: TREND BEARISH SUP1:4140 SUP2:4050 RESIST1:4200 RESIST2:4230 TRADING STRATEGY: SELL ON RISE CAPITALSTARS.COM +919200099927

TOP CORPORATE NEWS-16 JUNE 2014

Axis Bank dips on stake sale by LIC
Axis Bank has dipped 3%, extending its nearly 8% fall in past week, after Life Insurance Corporation of India have offloaded equity shares worth of Rs 51 crore through open market transaction during last week.

Aurobindo Pharma hits new high
Aurobindo Pharma has moved higher by 3%, also its record high, in otherwise weak market after the company has received the US health regulator’s approval to market a generic version of AbbVie Inc.’s Depakote ER extended-release tablets, used for treating mental illness, in the US market.

United Spirits up 0.5%
Edelweiss Group companies bought 2.57 percent equity stake in United Spirits by revoking pledged shares. Edelweiss Group holds 4.33 percent in USL as pledged shares. Total holding of the group in USL stands at 6.90 percent.

Oil and gas shares bounce back
Shares of state-owned oil marketing companies are trading higher by up to 4%, erasing their entire early morning losses, after the government said under-recovery on high speed diesel declined further to Rs 1.62 per litre from Rs 2.80 per litre earlier.
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WEEKLY EQUITY REPORT 9 TO 14 JUNE 2014

DALAL STREET FACE
INDIAN BENCHMARKS rebounded quite sharply this week, hitting historic highs on hopes of policy reforms from oil, finance and food ministries ahead of Union Budget. The Reserve Bank of India kept repo rate and cash reserve ratio unchanged but slashed statutory liquidity ratio by 50 basis points to 22.5 percent.

Maruti Suzuki India reported a 16% increase in its domestic sales in May. The company sold 90,560 units compared with 77,821 units a year ago. The IDFC Board gave in principle approval for the proposed domestic fund raising to bring down the Foreign Shareholding in IDFC below 50%.

The INDIAN BENCHMARKS SENSEX ended 376 point up at 25396 and the 50-share NIFTY closed 109 point up at 7583.40.


GLOBAL MARKET CHASE
ASIAN STOCKS were mixed, showing little reaction to the European Central Bank's move to introduce negative deposit rates, but alert ahead of U.S. jobs data.

U.S. STOCKS rose after data revealed the U.S. economy added more than 200,000 new nonfarm payrolls in May for a fourth consecutive month.

EUROPEAN STOCKS rose, as European regulators have completed their assessment of drug manufacturing violations at Ranbaxy Laboratories Ltd's facility in Toansa, India.


WEEK AHEAD
INDIAN INDICES could hit new record highs on continued hopes that Asia's third largest economy will rebound under the new government.

Investors will track economic indicators, including May consumer prices and April industrial output due on Thursday, June 12.

Further, News related to the upcoming budget and to potential reforms by the Narendra Modi government will also be key, as will foreign investor flows after overseas funds brought in $8.3 billion in Indian stocks so far in 2014.

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TOP CORPORATE NEWS-11 JUNE 2014

Future Retail to raise Rs. 2000 crore
Future Retail’s Board of Directors of the company has approved to raise Rs. 200 crore to reduce debt. At least 75% of the funds will be used for reducing debt.

India’s exports grow 12.4% to $28bn in May
India’s exports rose 12.4% in May over the previous year, the sharpest rise in 6 months helped by a weaker rupee.

RCom drops amid volatility
Reliance Communications lost 0.23% after the company announced the launch of its Next-Gen 3G services in 5 more telecom circles thereby expanding its 3G footprint to 18 circles across the country.

India Cements gearing up for demand pick-up
India Cement is planning to ramp up production, anticipating a demand pick up under the new government at the Centre and state. Cement prices have already gone up in most markets by Rs 20-30 per bag.

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INDIAN EQUITY MARKET OUTLOOK-11JUNE 2014

INDIAN BENCHMARK open on a flat note on account of muted global trends. Reliance Communications Ltd is planning to raise funds raise through an institutional share sale.

FURTHER, United Bank of India has been allowed by the Reserve Bank of India to consider loan proposals up to Rs 200 crore from 'AAA'-rated companies. L&T Finance Holdings Parent company L&T proposes to sell 1.6% stake in L&T Finance for about Rs 204 crore.

Trend in FII flows: The FIIs were net buyers of Rs 192cr in the cash segment on Tuesday while the DIIs were net sellers of Rs. 1215cr, as per the provisional figures released by the NSE.

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