NCDEX DAILY LEVELS

DALLY

EXPIRY

R4

R3

R2

R1

PP

S1

S2

S3

S4

SYOREFIDR

20 APR 15

632

622

612

608

602

598

592

582

572

SYBEANIDR

20 APR 15

3,498

3,465

3,43

3,413

3,399

3,380

3,366

3,333

3,300

RMSEED

20 APR 15

3,446

3,410

3,374

3,358

3,338

3,322

3,302

3,266

3,230

JEERAUNJHA

20 MAR 15 15,256

14,886 14,516 14,373

14,146 14,003 13,776 13,406 13,036

CHANA

20 APR 15

3,756

3,710

3,664

3,641

3,618

3,595

3,572

3,526

3,480

CASTORSEED

20 MAR 15 4,249

4,196

4,143

4,117

4,090

4,064

4,037

3,984

3,931

NCDEX WEEKLY LEVELS

WEEKLY

EXPIRY

R4

R3

R2

R1

PP

S1

S2

S3

S4

SYOREFIDR

20 APR 15

659

639

619

612

599

592

579

559

539

SYBEANIDR

20 APR 15

3,695

3,596

3,497

3,445

3,398

3,346

3,299

3,200

3,101

RMSEED

20 APR 15

3,622

3,520

3,418

3,380

3,316

3,278

3,214

3,112

3010

JEERAUNJHA

20 MAR 15 17,483

16,423 15,363 14,796

14,303 13,736 13,243 12,183 11,123

CHANA

20 APR 15

3,993

3,865

3,737

3,678

3,609

3,550

3,481

3,353

3,225

CASTORSEED

20 MAR15

4,713

4,450

4,187

4,036

3,924

3,773

3,661

3,398

3,135

 MCX DAILY LEVELS

DALLY

EXPIRY

R4

R3

R2

R1

PP

S1

S2

S3

S4

ALUMINIUM

27 FEB 15 118

117

116

115

114

113

112

111

110

COPPER

27 FEB 15 379S

372

365

361

358

354

351

344

337

CRUDE OIL

19 FEB15

3,731

3,576

3,421

3,357

3,266

3,202

3,111

2,956

2,801

GOLD

03APR 15

27,267

27,075

26,883

26,787

26,691

26,595

26,499

26,307

26,115

LEAD

27 FEB 15 117

116

115

114

113

112

111

110

109

NATURAL GAS 24 FEB 15 196

188

179

176

171

167

162

153

145

NICKEL

27 FEB 15 966

948

930

920

913

902

895

877

860

SILVER

05 MAR 15 41,103

40,059

39,015

38,609

37,971

37,565

36,927

35,883

34,839

ZINC

27 FEB 15 137.62

136.27

134.92

134.23

133.57

132.88

132.22

130.87

129.52

MCX WEEKLY LEVELS

WEEKLY

EXPIRY

R4

R3

R2

R1

PP

S1

S2

S3

S4

ALUMINIUM

27 FEB 15

126

122

118

116

114

112

110

106

102

COPPER

27 FEB 15

397

383

369

363

355

349

341

327

313

CRUDE OIL

19 FEB 15

4,228

3,889

3,550

3,422

3,211

3,083

2,872

2,533

2,194

GOLD

03 APR 15

28,175

27,693

27,211

26,951

26,729 26,469

26,247

25,765 25,283

LEAD

27 FEB 15

127

122

118

116

114

111

109

105.33 100

NATURAL GAS

24 FEB 15

229

210

190

182

171

162

151

132

113

NICKEL

27 FEB 15

1,050

1,007

964

936

921

893

878

835

792

SILVER

05 MAR 15 41,858

40,531

39,204

38,704

37,877 37,377

36,550

35,223 33,896

ZINC

27 FEB 15

140

136

135

133

129

126

143

131

123

 MCX - WEEKLY NEWS LETTERS

INTERNATIONAL NEWS
Gold gains on weak dollar and shares, still near three-week low
Gold rose on Monday, rebounding from a three-week low hit in the previous session, as the
dollar dropped and European equities suffered from soft Chinese trade data coupled with
worries about Greece.
Spot gold gained 0.6 per cent to $1,240.65 an ounce by 1050 GMT. The metal posted its
biggest one-day loss since December 2013 on Friday, hitting $1,228.25, as the dollar rallied
after strong US payrolls data."There is a lot of volatility in the market, triggered by how
elements of the macro environment interact: you have the US interest rate hike talk but also
worries over Greece. Both are likely to continue over the next few weeks," Societe Generale
analyst Robin Bhar said.
European shares tracked losses on Wall Street and in Asia, with disappointing Chinese trade
data further raising concerns about growth in the world's second-biggest economy.Gold was
also helped as the dollar gave back some of its gains made on Friday after data showed US jobs
growth rose solidly in January and wages rebounded, an indication of economic strength that
put a mid-year interest rate increase from the Federal Reserve back on the table.
The US central bank has held benchmark borrowing costs near zero since December 2008. An
increase in rates should further boost the dollar, in turn denting demand for gold, a non-interestbearing asset.Investors were also monitoring news from Greece after the new government
reaffirmed its rejection of an international bailout programme.Hedge funds and money
managers cut their bullish bets on gold and silver futures and options for the first time in six
weeks during the week to Feb. 3, US Commodity Futures Trading Commission data showed on
Friday.In the physical markets, Chinese premiums rose to $4-$5 an ounce on Monday, from less
than $4 in the previous session, as last week's sharp decline in prices attracted some buyers.
Chinese consumers typically buy gold for gift-giving ahead of the Lunar New Year holiday on
Feb. 19-20, but buying is likely to slow during and just before the break, traders said."With
Chinese New Year nearly here, the buying activity would have mostly concluded so don't
expect much seasonal support from the Chinese at this point," Phillip Futures analyst Howie
Lee said. Spot silver was up 2.1 per cent at $17.04 an ounce. Palladium was unchanged at
$781.75 an ounce, while platinum fell 0.2 per cent to $1,217.95 an ounce.

Silvermic April contract slips

At 15:40 hrs MCX SILVERMIC February contract was trading at Rs 38285 down Rs 109, or
0.28 percent. The SILVERMIC rate touched an intraday high of Rs 38660 and an intraday low

of Rs 38065. So far 28024 contracts have been traded. SILVERMIC prices have moved down
Rs 660, or 1.69 percent in the February series so far. MCX SILVERMIC April contract was
trading at Rs 38609 down Rs 98, or 0.25 percent. The SILVERMIC rate touched an intraday
high of Rs 38963 and an intraday low of Rs 38404. So far 2531 contracts have been traded.
SILVERMIC prices have moved down Rs 1690, or 4.19 percent in the April series so far. MCX
SILVERMIC June contract was trading at Rs 39135 down Rs 29, or 0.07 percent. The
SILVERMIC rate touched an intraday high of Rs 39383 and an intraday low of Rs 38935. So
far 42 contracts have been traded. SILVERMIC prices have moved down Rs 1673, or 4.10
percent in the June series so far.
Crude oil futures extend 2-day rally on falling U.S. rig count
Read more at: Crude oil futures extended gains on Tuesday, after rallying 11% over the past
two sessions, as investors closed out bets on lower prices after data showed the number of U.S.
oil drilling rigs had fallen by the most in nearly 30 years last week. On the New York
Mercantile Exchange, crude oil for delivery in March rose as much as 2.57%, or $1.31, to hit a
session high of $50.88 a barrel, the most since January 15, before trading at $50.64 during
European morning hours, up $1.07, or 2.16%. A day earlier, New York-traded oil futures surged
$1.33, or 2.76%, to settle at $49.57. West Texas Intermediate oil futures are up almost 13% in
the three sessions including Tuesday, amid indications U.S. producers are pulling back on new
production in response to low prices. U.S. oil prices lost $5.96, or 10.17%, in January, the
seventh consecutive monthly decline. Elsewhere, on the ICE Futures Exchange in London,
Brent oil for March delivery jumped $1.49, or 2.72%, to trade at $56.24 a barrel, after rising by
as much as $1.73, or 3.06%, to touch $56.48, the highest level since January 5. On Monday,
London-traded Brent rallied $1.76, or 3.32%, to end at $54.75. Brent prices ended January with
a loss of $5.92, or 8.97%, also the seventh straight monthly drop. Industry research group
Baker Hughes said last Friday that the number of rigs drilling for oil in the U.S. fell by 94, or
7%, to 1,223 last week, the lowest since October 2013. The number of oil rigs has declined in
13 of the last 16 weeks since hitting an all-time high of 1,609 in mid-October. London-traded
Brent prices have fallen nearly 60% since June, when it climbed near $116, while WTI futures
are down almost 58% from a recent peak of $107.50 in June, as the Organization of Petroleum
Exporting Countries resisted calls to cut output, while the U.S. pumped at the fastest pace in
more than three decades, creating a glut in global supplies.
Copper hits 1-week high as rising oil prices, stock gains lift sentiment
Copper prices hit a one-week high on Tuesday, as a rally in oil and global equity markets lifted
sentiment. On the Comex division of the New York Mercantile Exchange, copper for March
delivery rose by as much as 4.4 cents, or 1.73%, to hit a session high of $2.534 a pound, the
most since January 27, before trading at $2.530 during European morning hours, up 4.0 cents,
or 1.61%. Futures were likely to find support at the $2.463, the low from February 2, and
resistance at $2.543, the high from January 27. A day earlier, copper dipped 0.4 cents, or

0.18%, to settle at $2.490 a pound. Oil prices rallied nearly 11% over the past two sessions as
investors closed out bets on lower prices after data showed the number of U.S. oil drilling rigs
had fallen by the most in nearly 30 years last week. London-traded Brent prices rose 66 cents,
or 1.2%, to $55.41 a barrel, while Nymex oil tacked on 33 cents, or 0.67%, to hit $49.90.
Meanwhile, Asian stocks markets ended mostly higher as a surprise rate cut by Australia's
central bank boosted sentiment. Shares in Shanghai rallied more than 2% after Monday's soft
Chinese manufacturing data added to speculation that policymakers in Beijing may implement
further stimulus measures to support the economy. Hopes that Greece's new government would
be able to reach a compromise with its international creditors on the terms of its bailout also
helped lift sentiment. Copper prices lost 33.1 cents, or 11.72%, in January as concerns over the
global economic outlook and the impact on future demand prospects dampened the appeal of
the commodity. Elsewhere on the Comex, gold futures for April inched up $5.80, or 0.45%, to
trade at $1,282.70 a troy ounce, while silver futures for March delivery rallied 26.2 cents, or
1.52% to trade at $17.51 an ounce. Optimism over the health of the U.S. economy weakened
after data on Monday showed that U.S. consumer spending fell at the fastest rate since
September 2009 in December. Separate reports showed that U.S. construction spending rose
less than expected in December, while manufacturing growth slowed. Later in the day, the U.S.
was to release data on factory orders as investors look for further indications on the strength of
the economy.
Lead down 0.1% on weak overseas cues, low demand
Lead prices eased by 0.13% to Rs 114.15 per kg in futures trading today on weakness in base
metals at the London Metal Exchange (LME) amidst subdued demand from battery makers at
domestic spot markets.
At the Multi Commodity exchange, lead for delivery in February declined by 15 paise, or
0.13%, to Rs 114.15 per kg in a business turnover of 235 lots.
Market analysts said besides subdued demand from battery makers in the spot market,
weakness in base metals at the LME after China reported that consumer prices rose at the
slowest pace in more than five years and factory-gate deflation deepened, led to the fall in lead
prices in futures trade here.
Nickel falls by 0.1% on global cues
Nickel prices fell marginally by 0.09% to Rs 916.40 per kg in futures trade today as speculators
indulged in offloading positions after the metal weakened in global markets.
Further, subdued demand from alloy-makers in domestic spot markets weighed on the prices.
At the Multi Commodity Exchange, nickel for delivery in February eased by 80 paise, or
0.09%, to Rs 916.40 per kg in a business turnover of 382 lots.
The metal for delivery in March shed 50 paise, or 0.05%, to Rs 923.70 per kg in six lots.
Analysts said the fall in nickel prices at futures trade was in tandem with a weakening trend in
global markets after talks between Greece and its creditors ended in deadlock and ahead of

retail sales data from the US, the world's second-biggest consumer of metals.
In addition, a fall in demand from alloy-makers in the domestic spot markets put pressure, they
said.
Globally, nickel for delivery in three months fell as much as 0.3% to USD 14,700 per tonne on
the London Metal Exchange.

NCDEX - WEEKLY NEWS LETTERS

NCDEX partners with LSE Group's MillenniumIT for technology
The National Commodity and Derivatives Exchange (NCDEX) has tied up with Colomboheadquartered MillenniumIT (MIT) for scaling up its trading and surveillance system for the
futures and forwards segments.
The partnership is to be implemented in the first quarter of the next financial year. Founded in
1996, MIT is fully owned by the London Stock Exchange Group.
We are now looking for a paradigm shift in bringing greater convenience and increased
efficiency in our offering of an integrated marketplace comprising spot, forward and futures,
explained Samir Shah, managing director and chief executive officer, NCDEX.
MillenniumIT is a trading technology business. Powering a little over 40 financial organisations
and exchanges around the world, clients include London Stock Exchange, Borsa Italiana,
Turquoise, London Metal Exchange, Tullett Prebon, Johannesburg Stock Exchange, Singapore
Exchange and HKEx.The NextGen system will provide a faster trading engine, perhaps the
country's fastest, giving a big advantage to market participants. The new trading system will
give a more dynamic experience to the user with features such as tick-by-tick broadcast and
ease of executing complex trading strategies like butterfly and straddles.
It will also have improved capability to handle high frequency / algo trading. Additionally, it
will be able to execute regulatory changes in a quick and efficient manner which will assist in
efficient intra-day closure, pre-order checks and order flow monitoring.
"While every market infrastructure and its requirements are unique, MIT's technology is
designed to meet those requirements in a timely, efficient way. Our ability to handle any asset
class across a wide breadth of financial markets companies pays tribute to this," said Mack Gill,
Chief Executive Officer, MIT.
Soybean Fut may trade on mixed to positive note:
Soybean NCDEX Soybean Feb futures ended nearly flat on sluggish oil meal export data.
India's oilmeal exports may drop 40 per cent in 2014/15 due to lower demand for soymeal as
key buyers like Iran and Japan switch to cheaper supplies from South America. In January
2015, Soymeal exports fell by more than 71 per cent to 104,426 tonnes against 364,443 tonnes

in the same month a year ago. Global update Global Soybean production projected at a record
315.1 million tonnes (mt) in 2014/15. Brazil and Argentina soybean production is projected at
94.5 mt and 57 mt respectively. According to Safras & Mercado, Brazil is likely to export 46.2
mt of soybeans. Brazilian exports of soybean meal & soybean oil are projected to rise 6% and
4% this year to 14.5 mt and 1.25 mt, respectively. Outlook Soybean futures may trade on a
mixed to positive note due to good buying support at lower prices and but sluggish demand for
oil meal might weigh on prices.

Castorseed in a free fall

Castorseed price has been in a free fall since the beginning of 2015. The castor seed futures
contract traded on the National Commodity and Derivatives Exchange Ltd (NCDEX) is down
over 20 per cent since the beginning of this year. It is currently trading at 3,930 a quintal. Weak
domestic as well as export demand has pulled the castorseed spot price lower. This has
triggered profit booking by traders, especially since the contract had rallied 12 per cent last
December. The bearish outlook remains intact. Short-term traders can use this opportunity to
initiate fresh short-position.
The short-term view is bearish. The contract has declined below the psychological support at
4,000 this week. Key short-term resistances are at 4,013 the 200-week moving average and
then at 4,100 a trend line resistance. Immediate support is at 3,850. A break below this level
can drag the contract lower to 3,750 and even 3,600 in the coming weeks.Traders with a shortterm perspective can go short in this contract at current levels. Stop-loss can be placed at 4,060
for the target of 3,750. Intermediate rallies to 4,000 if seen can be considered to accumulate
more short positions.The downside pressure on the castorseed futures contract will ease only if
the contract rises past 4,000.The short-term outlook will turn positive if the contract breaches
4,100. Such a break can then take the contract higher to 4,300.
The medium-term trend is down. But this downtrend could be nearing a bottom. There is a
strong trend line support at 3,650 which could halt the current fall. A strong reversal from here
will have the potential to breach the psychological hurdle at 4,000 and take the NCDEXcastorseed futures contract higher to 4,500 levels. On the other hand, a fall below 3,650 could
add more pressure on the contract. It will then increase the danger of the fall extending towards
3,350

Chana Feb. futures traded on negative note:

Chana NCDEX Chana Feb. futures traded on negative note on Friday and closed 0.69% down
due to sluggish demand on expectation of new crop arrivals in less than a months time. Overall

sentiments look mixed for Chana amid expected lower output and duty-free export allowed till
Mar 2015. As per the Govt data, Chana has been sown over 81.98 lakh hectares which is less
16.5 % As on Jan 23, 2015 as compared to last years 98.16 lakh hac. The Weather so far has
been conducive to the growth of Chana crop in the growing states. Considering favorable
weather conditions in the coming days and thereby a normal yield, we expect Chana production
to hover around 84-86 lakh tonnes in 2014-15. Outlook Chana futures are expected to trade
sideways to down in the coming days due to low supplies in spot market and new crop to hit
the local mandi in less than a months time and there are reports of pulses damage in UP due to
drought however buying at lower levels may support the prices.

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