Nirmal Bang

Energy Sector Outlook for Commodity Traders: Nirmal Bang

Crude oil: The counter is seen resisting the 21 DMA on the closing basis. The counter traded negative yesterday and closed below the 7 DMA also. The RSI dropped yesterday with fall in prices; RSI may even breach the MA if prices continue downside. The –DI remains on the upside, which indicates downtrend in the counter. Thus the counter may test 3250 and 3225 levels as long as prices traded below the 3360 levels.

Base Metals Trading Tips and Market Outlook: Nirmal Bang

Copper: The counter looks weak as it traded below the 7 DMA and resisted to enter the channel. The indicator also affirms the weakness as RSI is dropping and –DI rules on the upside. The prices are expected to remain weak below the 290 levels, targeting 284-282. However on breaching 291 on upside the counter may test 296 on the upside.

Gold and Silver Futures, Commodity Market Outlook: Nirmal Bang

Gold: The counter have turned bullish after breaching the resistance at 15690 levels and close above all the short term moving averages. The RSI has breached the MA, while ADX indicates bullishness in the counter. Thus one can remain long in the counter at every dips above 15675 levels, as the counter has potential to inch-up higher to 16000 levels in near term.

Energy Sector and Oil Futures Update for Commodity Traders: Nirmal Bang

U. S. crude oil futures edged higher on Tuesday, lifted by a weak dollar that helped boost commodities and as optimism about economic recovery and corporate earnings sent equities higher, providing further support to crude oil.

The API said that crude stocks fell 254,000 barrels in the week to Oct. 2, against the forecast for a 2.2-million-barrel increase in a poll of analysts.

A British newspaper reported that Gulf Arab states were in secret talks to abandon the U. S. currency in oil trade. Big oilproducing countries denied the report.

Base Metals Trading Techniques and Market Research Data: Nirmal Bang

A slumping U. S. dollar and signs the global economy was recovering helped ignite a broad-based rally in the industrial metals complex on Tuesday, buoying the price of copper in London back up over the $6,000-a-tonne level.

Copper, used in power and construction, has surged 96 percent so far this year, largely supported by hefty buying by the Chinese Reserves Bureau and Chinese investors.

Trading strategy for Gold and Silver Futures, Commodity Market Outlook

U. S. gold futures scaled an all-time high at $1,045 an ounce on Tuesday, gaining more than 2 percent as investors piled into the metal to preserve the value of their dollar-denominated assets against erosion by a weakening dollar and inflation.

Silver too followed the rise in gold and outperformed the yellow metal, gaining over 4 percent on COMEX and over 2 percent on MCX. The upside was capped in precious metals owing to the phenomenal rise in rupee against the dollar.

World Stock Market Review By Nirmal Bang

Asian stocks rose for a second day, led by mining companies and banks, as gold prices surged to a record and brokerages upgraded companies including Sumitomo Mitsui Financial Group. BHP Billiton Ltd., the world's biggest mining company, gained 2.7 percent and Newcrest Mining Ltd., Australia's largest gold producer, surged 6.4 percent in Sydney.

Nifty has strong resistance at 5,060: Nirmal Bang

Positive global cues and firm buying at lower levels helped the Sensex recover early losses and close higher. The Sensex swung 366 points from its low point of 16,622 to finish up 92 points at 16,958. The Nifty gained 24 points to close at 5,027 after hitting an intra-day low of 4,921. Constant buying was seen in metal, FMCG, banking and capital goods stocks while telecom, technology, cement, realty and oil marketing shares remained under pressure The Oct Nifty future ended with 10 points premium.

World Market Review By Nirmal Bang Securities

Positive global cues and firm buying at lower levels helped the Sensex recover early losses and close higher. The Sensex swung 366 points from its low point of 16,622 to finish up 92 points at
16,958. The Nifty gained 24 points to close at 5,027 after hitting an intra-day low of 4,921. Constant buying was seen in metal, FMCG, banking and capital goods stocks while telecom, technology, cement, realty and oil marketing shares remained under pressure. The Oct Nifty future ended with 10 points premium.

Energy Sector Outlook for Commodity Traders: Nirmal Bang

Crude oil: The counter recovered from the bottom of 3245 and closed positive just above the open of 3343. The yesterday’s movement indicates reversal in the trend. Thus prices can move positive if maintaining above the 7 DMA of 3315. The immediate resistances are seen at 3425 and 3460 levels.