BULLION

Gold prices were steady on Monday having dipped to a one month low in the previous session after the U.S. dollar firmed on the Federal Reserves plans to gradually keep tightening borrowing costs. The dollar index which measures the green back against a basket of six major currencies inched up 0.1 percent. The green back built on last weeks gains and rose towards a 16 month high. Asian shares fell on Monday extending weakness in global equity markets at the end of last week as soft Chinese economic data and falling oil prices rekindled anxiety about the outlook for world growth.

ENERGY

Oil prices rose on Monday after top exporter Saudi Arabia announced a cut in supply for December seen as a measure to halt a market slump that had seen crude decline by 20 per cent since early October. Saudi Arabia plans to reduce oil supply to world markets by 0.5 million barrels per day in December.The Energy Information Administration released its report on US natural gas inventories showing a build up of 65 billion cubic feet in the week ending November 2, adding to the 48 billion increase in the previous reading while analysts expected a 56 billion build. 

Base Metals

Nickel prices on both the London and Shanghai exchanges fell on Monday to near 11 month lows due to pressure from a strong U.S. dollar and concerns over economic growth in China. The dollar built on last weeks gains and rose towards a 16 month high on Monday as traders expect the U.S. Federal Reserve to keep tightening monetary policy.

SPICES

With closure of mandis due to Festival week trend remained volatile for Jeer as it faced strong immediate Resistance at these higher levels. However falling stocks rising demand and expected fall in sowing from lower rains in Gujarat/Rajasthan shall continue supporting prices as of now. Trend weakened for Turmeric as it failed to hold onto the higher levels with profit booking bringing some dips to the rising rates. High stocks amidst lack of very strong demand checked the upside. Technically trend does not look very positive as for now.


OILSEEDS

Slight weak trend persisted for Mentha as profit booking at the higher levels limited the gains where overall sentiments are likely to recover ahead of the winter season. Demand started picking up on the domestic and export front ahead of winter season.Strength in soy bean failed to support domestic soya oil prices. Negative inputs on palm oil and weakness in global soya oil market once again kept sentiments down. it has been noted during previous weeks the buying interest in spot market improves significantly whenever prices decline for two or more consecutive days.

GUAR COMPLEX

Profit booking at the higher levels brought some dips to the rising rates for Guar with mandis remaining closed for Festivals even as overall trend remained firm. Apprehensions of lower production from less rains received in Rajasthan supported prices. Reports of lower arrivals of new crop amidst prospects of fall in sowing area are Bullish factors.

OTHERS

Selling intentions amongst stockists are poor and at prevailing lower rates, mandi sellers are avoiding negotiations for fresh deals. This shall tend to keep futures prices supported at every moderate fall. Reports of NAFED still having good amount of stocks to sell keeps sentiments down currently.The data released in latest USDA report is slightly bearish and this will be capping the upside in coming sessions. As per the latest USDA report global soy bean production for this season is expected around 3694 million bushels versus September reports estimate of 3693.2 million bushels.

EURINR

From last couple of trading weeks EURINR is trading with negative sentiment and continuously making lower highs and lower lows formation. Last week EURINR made a low of 84.4525 and closed at the level of 85.5200 with overall marginal loss of 0.99% on weekly basis. EURINR broken its double top formation and sustaining below it and we believe that market can continue its negative trend this week also. For this week if it is break the level of 82.4000 on lower side then it can test the level of 81.9525. One can make sell position in it with SL of 82.7125

GBPINR

Last week GBPINR Nov Futures started the week on positive note and made a high of 95.7700 but till the end of the week, market closed below the level of 95.0000 and it closed at 94.6100 with the overall loss of 0.12 per cent on weekly basis. Technically it consolidating below the major psychological support level of 95.0000 with the negative RSI and for this week, we can expect further downside movement in it.For this week, if it breaks the level of 94.0000 on the lower, then it can test the level of 93.5125 during the week. One can make sell position in it by maintaining a SL 94.3125

LEAD

From last couple of trading weeks Lead is trading with negative sentiment and forming triangle formation on higher level. Last week Lead made a low of 138.85 and closed at 142.45 with overall marginal loss of 2.23% on weekly basis. On its daily chart Lead is forming lower highs formation indicating negative trend in it. For this week, if it breaks the level of 141 on the lower side then it can test the level of 137.60 during the week. One can make sell position in it by maintaining a SL at 142.10

ALUMINIUM

Last week Aluminium Nov Futures started the week on negative note and made a low of 142.45 and closed at 142.65 with the overall loss of 1.52 per cent on weekly basis. Technically it consolidating below the major psychological support level of 150 with the negative RSI and for this week, we can expect further downside movement in it. For this week, if it breaks the level of 142 on the lower, then it can test the level of 137.60 during the week. One can make sell position in it by maintaining a SL 143.20


COCUDAKL
Last week COCUDAKL started a week on positive note and continue the same for the whole week. On its daily chart COCUDAKL forming Head & Shoulder formation on lower level indicating positive trend in it. Las week COCUDAKL made a high of 1949 and closed at 1902.50 with overall marginal gain of 3.76% on weekly basis. And recently COCUDAKL break the level of 1900 and sustaining above it. For this week, if it breaks the level of 1950 on the upper side then it can test the level of 2090 during the week. One can make buy position in it by maintaining a SL at 1899

CHANA

From last couple of trading weeks Chana is trading with positive sentiment and broken the important psychological level of 6000 and sustaining above it. Last week Castor made a high of 6070 and closed at the level of 5952 with overall marginal gain of 3.26% on weekly basis. Technically Chana is trading above its support level of 6000 and forming the bullish flag patter on higher leve, we can expecting positive movement in it. For this week if it is break the level of 6090 on upper side then it can test the level of 6199. One can make buy position in it with SL of 6039.

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