Professional Documents
Culture Documents
EXPIRY
R4
R3
SYOREFIDR
20 APR 15
629.83
SYBEANIDR
20 APR 15
RMSEED
20 APR 15
JEERAUNJHA
20 MAR 15 16,236.67 15,896. 15,556.6 15,423.3 15,216. 15,083. 14,876. 14,536. 14,196.6
67
7
3
67
33
67
67
CHANA
20 APR 15
CASTORSEED
20 MAR 15 3,996.00 3,922.0 3,848.00 3,806.00 3,774.0 3,732.0 3,700.0 3,626.0 3,552.00
0
0
0
0
0
NCDEX WEEKLY
R2
R1
PP
S1
S2
S3
S4
LEVELS
WEEKLY
EXPIRY
R4
R3
R2
R1
PP
S1
S2
S3
S4
SYOREFIDR
20 APR 15
649.85
SYBEANIDR
20 APR 15
RMSEED
20 APR 15
JEERAUNJHA
20 MAR 15 19,016.67 17,711. 16,406.6 15,848.3 15,101. 14,543. 13,796. 12,491. 11,186.67
67
7
3
67
33
67
67
CHANA
20 APR 15
CASTORSEED
20 MAR15
MCX
DAILY LEVELS
ALUMINIUM
27 FEB 15 116.32
114.77
113.22
112.28
111.67
110.73
110.12
108.57
107.02
COPPER
27 FEB 15 375.43
369.28
363.13
359.97
356.98
353.82
350.83
344.68
338.53
CRUDE OIL
19 MAR15 3,521.67 3,426.67 3,331.67 3,273.33 3,236.67 3,178.33 3,141.67 3,046.67 2,951.67
GOLD
03APR 15 27,019.6 26,771.6 26,523.6 26,400.3 26,275.6 26,152.3 26,027.6 25,779.6 25,531.67
LEAD
27 FEB 15 117.95
115.25
112.55
110.80
109.85
108.10
107.15
104.45
101.75
205.33
193.33
188.67
181.33
176.67
169.33
157.33
145.33
NICKEL
27 FEB 15 927.17
908.77
890.37
881.63
871.97
863.23
853.57
835.17
816.77
SILVER
05 MAR 15 38,032.6 37,499.6 36,966.6 36,640.3 36,433.6 36,107.3 35,900.6 35,367.6 34,834.67
27 FEB 15 135.73
ZINC
MCX
WEEKLY
WEEKLY
133.03
130.33
128.62
127.63
125.92
124.93
122.23
S1
S2
S3
119.53
LEVELS
EXPIRY
R4
R3
R2
R1
PP
S4
ALUMINIUM
27 FEB 15
122.82
119.32
115.82
113.58
112.32 110.08
108.82 105.32
101.82
COPPER
27 FEB 15
392.83
380.83
368.83
362.82
356.83 350.82
344.83 332.83
320.83
CRUDE OIL
19 MAR15 4,057.00 3,787.00 3,517.00 3,366.00 3,247.00 3,096.00 2,977.00 2,707.0 2,437.00
GOLD
03 APR 15 28,805.6 28,005.6 27,205.6 26,741.3 26,405.6 25,941.3 25,605.6 24,805. 24,005.67
LEAD
27 FEB 15
128.12
122.37
116.62
112.83
110.87 107.08
105.12
99.37
93.62
233.33
215.33
197.33
190.67
179.33 172.67
161.33 143.33
125.33
NICKEL
936.20
904.60
883.30 851.70
830.40 777.50
724.60
SILVER
05 MAR 15 38,564.6 38,260.6 37,956.6 37,135.3 37,652.6 36,831.3 37,348.6 37,044. 36,740.67
ZINC
27 FEB 15
152.23
144.58
136.93
131.92
129.28 124.27
121.63 113.98
106.33
India Budget 2015-16: Oil and Gas sector hopes for clarity on subsidy
sharing formula
This is an important period in the India oil sector given the falling global crude prices. The
upcoming Union budget would be critical in this regard. Falling crude prices have resulted in
lower under-recoveries and working capital requirements for oil marketing companies (OMC).
However, it has affected the profitability of upstream companies such as ONGC and OIL.The
oil ministry has proposed a new subsidy sharing proposal by which upstream companies would
not make any contributions towards subsidy burden if crude prices are at or below $60 per
barrel, would bear 85% subsidy burden when crude oil prices exceed $60 a barrel and is less
than or equal to $100 a barrel, and would bear 90% subsidy burden if crude oil price exceeds
$100 per barrel.
A concrete subsidy sharing formula would provide visibility over earnings of upstream oil
companies and hence, it would be positive for them (ONGC, Oil India and GAIL), the report
said.The government is also likely to re-introduce 2.5-5% customs duty on import of crude oil,
which will be positive for Cairn India and negative for private refiners and OMCs.
Greece, euro zone agree four-month loan extension, avert crunchFinance ministers agreed in
principle on Friday to extend Greeces financial rescue by four months, averting a potential
cash crunch in March that could have forced the country out of the currency area.
The deal, to be ratified once Greece's creditors are satisfied with a list of reforms it will submit
next week, ends weeks of uncertainty since the election of a leftist-led government in Athens
which pledged to reverse austerity.
"Tonight was a first step in this process of rebuilding trust," Jeroen Dijsselbloem, chairman of
the 19-nation Eurogroup, told a news conference. "We have established common ground again
to reach agreement on this statement."
The agreement, clinched after the third ministerial meeting in two weeks of acrimonious public
exchanges, offers a breathing space for the new Greek government to try to negotiate longerterm debt relief with its official creditors.
But it also forced radical young Prime Minister Alexis Tsipras into a major climbdown since he
had vowed to scrap the bailout, end cooperation with the "troika" of international lenders and
roll back austerity.
European Union paymaster Germany, Greece's biggest creditor, had demanded "significant
improvements" in reform commitments by Athens before it would accept an extension ofeuro
zone funding.
The two main combatants around the table put a radically different gloss on the result.
"Being in government is a date with reality, and reality is often not as nice as a dream," German
Finance Minister Wolfgang Schaeuble told reporters, stressing Athens would get no aid
payments until its bailout programme was properly completed.
"The Greeks certainly will have a difficult time to explain the deal to their voters," the
conservative veteran said.
Greek Finance Minister Yanis Varoufakis said the talks had shown elections could bring
change to Europe. He insisted he had averted "recessionary measures" and said the government
still hoped to raise the minimum wage and rehire some public sector workers.
"Nobody is going to ask us to impose upon our economy and society measures that we don't
agree with," Varoufakis said.
The euro rebounded against the dollar and global equity markets surged to record closing highs
while Greek government bond yields fell on optimism for a debt deal.
REFORM LIST
The accord requires Greece to submit by Monday a letter to the Eurogroup listing all the policy
measures it plans to take during the remainder of the bailout period.
If the European Commission, the European Central Bank and the International Monetary Fund
are satisfied, euro zone member states will ratify the extension, where necessary through their
parliaments.
Euro finance ministers may sign off on the deal on Tuesday via a teleconference. However, if
there are doubts they would reconvene in Brussels, officials said, a conditions insisted upon
by Spain, whose government also faces a radical leftist insurgency at an election later this year
and is keen that Tsipras gets no special treatment.
Irish Finance Minister Michael Noonan voiced caution, telling reporters: "It's an important first
step that we hope will lead to a successful second step on Monday night/Tuesday morning, but
then of course there's a third step with ratifications in parliament."
With the 240 billion euro (178 billion pounds) EU/IMF bailout programme due to expire in
little more than a week, Tsipras had requested a six-month extension of a loan agreement
but Germany and its allies objected to the initial formulation of the request.
Greece's partners insisted on the shorter period and tied further disbursements to a satisfactory
review at the end. They also obliged Athens to commit to fully funding any new spending
measures and obtaining approval from its lenders.
The ECB said there would be no need for Greece to impose capital controls restricting cash
withdrawals after the deal.
An ECB source said the bank's governing council was ready to resume accepting Greek
government bonds as collateral for lending once necessary steps were taken for the extension
and the bank determined there was a "great likelihood" that Greece would achieve a "positive
conclusion" to its rescue programme.
Finance ministers from other euro zone states insisted on more guarantees that Greecewould
meet the bailout's strict conditions on budget discipline and economic reforms.
Tsipras had a long telephone call with Germany's Angela Merkel on Thursday and has spoken
repeatedly to the leaders of France and Italy in the search for a solution that allows his radical
government to fulfil election promises.
Euro zone officials said Greece's track record and the combative behaviour of its new leaders
had undermined their confidence in whether Athens would deliver what it agrees to in talks
with the other countries sharing the euro.
That drove ministers to make Greece hand over custody of nearly 11 billion euros in aid
earmarked for stabilising its banks to the euro zone's rescue fund.
Some pointed comments were directed at Varoufakis, an outspoken Marxist economist and
blogger, and his casual style. "Even hardliners like us have to give the benefit of the doubt to a
communist in a Burberry scarf," an official of one hawkish European country joked.
Adding to pressure to reach a deal, Greek savers have withdrawn their money from the banks at
an accelerating pace despite government assurances that there is no plan to introduce capital
controls to stem the outflows.
Chinas crude steel production for January 2015 was 65.5 Mt, a decrease of -4.7% compared to
January 2014. The crude steel capacity utilisation ratio for the 65 countries in January 2015 was
72.5%.
World crude steel production for the 65 countries reporting to the World Steel Association
(worldsteel) was 133 million tonnes (Mt) in January 2015, a -2.9% decrease compared to
January 2014.
Chinas crude steel production for January 2015 was 65.5 Mt, a decrease of -4.7% compared to
January 2014. Elsewhere in Asia, Japan produced 9.0 Mt of crude steel in January 2015, a
decrease of -4.0% compared to January 2014.
In the EU, Germany produced 3.7 Mt of crude steel in January 2015, an increase of 0.5%
compared to January 2014. Italy produced 1.9 Mt of crude steel, down by -11.3% on January
2014. Frances crude steel production was 1.3 Mt, a decrease of -10.6% compared to January
2014. Spain produced 1.3 Mt of crude steel, up by 11.8% compared to January 2014.
Turkeys crude steel production for January 2015 was 2.6 Mt, down by -10.4% on January
2014. In January 2015, Russia produced 6.1 Mt of crude steel, up by 6.0% over January 2014.
Ukraine produced 1.9 Mt of crude steel, down by -25.2% compared to the same month 2014.
The US produced 7.4 Mt of crude steel in January 2015, an increase of 0.4% compared to
January 2014. Brazils crude steel production for January 2015 was 3.0 Mt, up by 7.7% on
January 2014.
The crude steel capacity utilisation ratio for the 65 countries in January 2015 was 72.5%. It is 4.4 percentage points lower than January 2014. Compared to December 2014, it is -0.4
percentage points lower.
. Upgrading weather forecasting system IMD, for accurate monsoon forecasts which could
enable farmer to take informed decisions.
. Investments in transportation and infrastructure like roads and railways to reduce
transportation costs for farmers for their produce
Soybean April contract is likely to trade bullish for short term and sideways for intra day. Short
term support is seen at 3320 and resistance at 3530.
Soybean April contract is likely to trade bullish for short term and sideways for intra day. Short
term support is seen at 3320 and resistance at 3530. Intra day support is seen at 3400 and and
resistance at 3450.
Global oilseed production for 2014/15 is projected at a record 532.1 million tons, down slightly
from last month. Global soybean production is raised 0.7 million tons to a record 315.1 million.
Prospects for the Argentina soybean crop have improved with ample moisture and mild
temperatures.
As a result, the crop is projected at a record 56.0 million tons, up 1.0 million. Soybean
production is also raised for China, Russia, and Ukraine. Soybean production for Brazil is
projected at 94.5 million tons, down 1.0 million on lower yields reflecting the impact of limited
rainfall in eastern growing areas.
soybean supplies are increased 10 million bushels to 4,086 million on higher projected imports.
Exports for 2014/15 are projected at 1,790 million bushels, up 20 million. Soybean crush is
raised 15 million bushels to 1,795 million on increased domestic soybean meal disappearance.
Soybean oil production gains from additional crush are mostly offset with a lower extraction
rate.
With increased production and reduced exports, soybean oil ending stocks are project-ed at
1.505 billion pounds, up 75 million. Soybean ending stocks are projected at 385 million bushels,
down 25 million from last month.
Soybean output may rise by 40 lakh tons this year. It has estimated 31.20 crore tons output
globally in 2014-15. Previously, it is estimated 30.8 crore tons in its projection released in
November.
Castor seed futures trade lower on increased supplies
Castor seed futures traded marginally lower on NCDEX on account of increased supplies of
new crops in the markets. Besides, fall in demand at domestic as well as export markets also
weighed on castor seed prices.
The contract for February delivery was trading at Rs 3770.00, down by 0.19% or Rs 7.00 from
its previous closing of Rs 3777.00. The open interest of the contract stood at 3530 lots.
The contract for March delivery was trading at Rs 3792.00, down by 0.13% or Rs 5.00 from its
previous closing of Rs 3797.00. The open interest of the contract stood at 102960 lots on
NCDEX.
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