Shriram Market Analysis
& Research Team
C O M M O D I T YREPORT
19 March 2015
ECONOMIC/GLOBAL NEWS

The Federal Reserve backed away from its pledge to be "patient" , a
strong signal that the central bank will hike interest rates in July or
September. The move to remove the "patient" phrase came amid
concerns about the rapid rise in the U.S. dollar, which touched 12-year
highs against the euro this week.

EIA data showed supplies at Cushing, Okla., the storage hub for
Nymex crude, climbed about 2.9 million barrels last week. Gasoline
supplies were down 4.5 million barrels, while distillate stockpiles rose
400,000 barrels, according to the EIA.

Bank of England policymakers unanimously decided to keep the
monetary policy unchanged at the meeting held on March 4 and 5, the
minutes showed. The monetary policy committee voted 9-0 to retain
the benchmark rate at a historic low of 0.50% and quantitative easing at
GBP 375 billion.

U.K. jobless rate fell to 5.7% in three months to January from 6% in the
quarter ending October.

Eurozone unadjusted trade surplus grew to EUR 7.9 billion from EUR
0.1 billion a year ago. Exports remained unchanged during the period,
while imports fell 6%.

Japan's economy is expected to continue its moderate recovery trend,
the Bank of Japan reiterated in its Monthly Report of Recent Economic
and Financial Developments released.
Smart
.........Investing
Index
18-March-15 17-March-15 Pts. Ch.
Dow
Nifty
Sensex
USD/INR
Dollar Index
Euro/$1US
$1US/Yen
Pound/$1US
18076.19
8685.90
28622.12
62.701
98.78
1.0866
120.11
1.4978
17849.08
8723.30
28736.38
62.623
99.95
1.0597
121.36
1.4745
227.11
-37.40
-114.26
0.08
-1.17
0.0269
-1.25
0.0233
% Change
1.27
-0.43
-0.40
0.12
-1.17
2.54
-1.03
1.58
Market Update

U.S. stocks closed higher Wednesday after the Federal Open
Market Committee indicated a slower pace of rate hikes,
following the removal of the word "patient" from its policy
statement. The S&P 500 jumped 25.14 points, or 1.2%, to close
at 2,099.42. Dow Jones Industrial Average surged 227.11
points, or 1.3%, to close at 18,076.19. The Nasdaq Composite
surged 45.39 points, or 0.9%, to close at 4,982.83.

Indian market ended lower subdued primarily by the losses in
FMCG, IT and selective Auto and Power stocks.
Currency Update

The dollar remained mostly lower against a basket of other
major currencies on Wednesday, as markets eyed the Federal
Reserve's highly-anticipated policy statement due later in the
trading session. The U.S. dollar index was down 0.31% to
99.73, still close to Friday's highs of 100.78, the strongest since
September 2003. Euro rose 0.22% to 1.0617. The dollar was
lower against the yen, down 0.40% to 120.88. Meanwhile, the
dollar pushed higher against the pound, with sliding 0.60% to
1.4658.

The Indian rupee today ended almost flat against the dollar at
62.69 ahead of the US Federal Reserve's monetary policy
statement that could shed light on the timing of interest rate
hikes. The rupee resumed slightly higher at 62.68 per dollar as
against the last closing level of 62.70 per dollar at the Interbank
Foreign Exchange (Forex) Market. It hovered in a limited range
of 62.6175 and 62.78 before concluding at 62.69, showing a
marginal gain of one paise or 0.02 per cent.
Enquiry : +91 33 2359 4612, +91 33 2359 4614, +91 33 2358 1953, E-mail : [email protected]
C O M M O D I T YREPORT
19 March 2015
TECHNICAL REPORT
PRECIOUS METALS
Open Interest
Closing
Bullion
Gold April MCX
Gold April Comex
Silver May MCX
Silver May Comex
Open
25631
1148
35331
15.530
Bullion
( Technical )
Gold April MCX
Gold April Comex
Silver May MCX
Silver May Comex
High
25697
1175
35468
16.095
Low
25500
1145
35130
15.430
18-Mar-15
25637
1151
35312
15.541
17-Mar-15
25617
1148
35356
15.578
% Ch
0.08
0.27
-0.12
-0.24
18-Mar-15
9716
208779
11924
112939
18-Mar-2015
% Ch
-3.33
-0.25
-1.65
-0.07
Close Price
Sup-3
Sup-2
Sup-1
Pivot Point
Res -1
Res -2
Res -3
25637
1151
35312
15.541
25329
1109
34801
14.617
25414
1127
34965
15.024
25526
1139
35139
15.282
25611
1157
35303
15.689
25723
1169
35477
15.947
25808
1187
35641
16.354
25920
1200
35815
16.612
Holdings In Tonnes As On
Name of the ETF
17-Mar-15
10051
209310
12124
113023
18-Mar-2015
Ratio
%Ch
17-Mar-2015
Ratio
Close
Close
SPDR Gold ETF
749.77
747.98
0.24
Gold v/s Silver
1151.30
15.541
74.08
iShares Silver Trust
10181.17
10181.17
0.00
Gold v/s Crude Oil
1151.30
46.65
24.68
BASE METALS
LME Inventories (In Tonnes)
Base Metals
18-Mar-2015
Aluminum
Copper
Nickel
Lead
Zinc
Base Metals
( Technical )
Aluminium ( March )
Copper ( April )
Nickel ( March )
Lead ( March )
Zinc ( March )
17-Mar-2015
3955600
340650
431034
233750
530600
Close Price
110.05
358.30
848.50
106.00
124.55
3942800
342200
432120
225825
533650
Change
% Change
12800
-1550
-1086
7925
-3050
0.32
-0.45
-0.25
3.51
-0.57
Sup-3
Sup-2
Sup-1
Pivot Point
Res -1
Res -2
Res -3
107.30
344.70
825.20
101.80
121.60
108.60
351.00
836.20
103.80
123.00
109.30
354.70
842.40
104.90
123.80
110.60
361.00
853.40
106.90
125.10
111.30
364.60
859.60
108.00
125.90
112.60
370.90
870.60
110.00
127.30
113.30
374.60
876.80
111.10
128.10
ENERGY
Open Interest
Closing
ENERGY
Crude Oil April MCX
Crude May Nymex
Natural Gas March MCX
Natural Gas April Henry Hub
ENERGY
( Technical )
Crude Oil April MCX
Crude May Nymex
Natural Gas March MCX
Natural Gas April Henry Hub
Smart
.........Investing
Open
2866
44.50
179.00
2.854
High
2866
47.48
184.20
2.935
Low
2791
44.03
175.00
2.775
18-Mar-15
2824
46.65
182.90
2.920
17-Mar-15
2885
45.19
178.50
2.855
% Ch
-2.11
3.23
2.46
2.28
18-Mar-15
12655
495363
7100
107156
17-Mar-15
10263
469285
6768
123424
% Ch
23.31
5.56
4.91
-13.18
Close Price
Sup-3
Sup-2
Sup-1
Pivot Point
Res -1
Res -2
Res -3
2824
46.65
182.90
2.920
2713
41.18
168.00
2.658
2752
42.60
171.50
2.717
2788
44.63
177.20
2.818
2827
46.05
180.70
2.877
2863
48.08
186.40
2.978
2902
49.50
189.90
3.037
2938
51.53
195.60
3.138
Enquiry : +91 33 2359 4612, +91 33 2359 4614, +91 33 2358 1953, E-mail : [email protected]
C O M M O D I T YREPORT
19 March 2015
OUTLOOK
Precious Metal: Likely to remain range-bound with positive bias. Trade tracking support and resistance.
Base Metal: Likely to remain range-bound with positive bias. Trade tracking support and resistances.
Energy: Likely to remain volatile with negative bias. Trade tracking support and resistance.
ECONOMIC CALENDER
Time
6:00:00 AM
2:30:00 PM
6:00:00 PM
6:00:00 PM
6:00:00 PM
6:00:00 PM
7:30:00 PM
8:00:00 PM
Country
Australia
Eurozone
U.S.
U.S.
U.S.
U.S.
U.S.
U.S.
Thursday March 19, 2015
Event
RBA Bulletin
ECB Economic Bulletin
Continuing Jobless Claims
Current Account (Q4)
Initial Jobless Claims
Jobless Claims 4-Week Avg.
CB Leading Index (MoM) (Feb)
Natural Gas Storage
Actual
Forecast Previous
2,410K
-103.2B
292K
2,418K
-100.3B
289K
302.25K
0.2%
0.2%
-48B
-198B
D I S C L A I M E R
This document has been prepared by ICFL (100% Subsidiary Company of Shriram Insight Share Brokers Ltd) and is meant for sole use by the recipient and not for circulation. This document is not to be
reported or copied or made available to others. The information contained herein is from sources believed reliable It should not be considered to be taken as an offer to sell or a solicitation to buy and sell any
Commodity or as an official confirmation of any transaction. We do not represent that it is accurate or complete and it should not be relied upon as such. This document is prepared for assistance only and is
not intended to be and must not alone be taken as the basis for an investment decision. The investments discussed or recommended in this report may not be suitable for all investors. ICFL (100%
Subsidiary Company of Shriram Insight Share Brokers Ltd) Recommendation Service is a general recommendation service and is not to be construed as an individual investor specific Portfolio
Management and Advisory Service.
The user assumes the entire risk of any use made of this information. Each recipient of this document should arrive at an independent evaluation of an investment in the Commodities to in this document and
should consult its own advisors to determine the merits and risks of such an investment.
ICFL (100% Subsidiary Company of Shriram Insight Share Brokers Ltd) shall not be responsible for any loss or liability incurred to the user as a consequence of his or any other person on his behalf taking
any investment decisions based on the information, recommendations, research reports, analysis, quotes, etc. provided on the web site.
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Smart
.........Investing
Enquiry : +91 33 2359 4612, +91 33 2359 4614, +91 33 2358 1953, E-mail : [email protected]