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Shriram Market Analysis
& Research Team
C O M M O D I T YREPORT
26 March 2015
ECONOMIC/GLOBAL NEWS

U.S. durable goods orders fell by 1.4% in February following a
downwardly revised 2.0% increase in January. However, the
Commerce Department said durable goods orders still fell by 0.4% in
February.

U.S. Energy Information Administration on Wednesday reported 11th
straight weekly increase crude supplies. Crude inventories climbed by
8.2 million barrels for the week ended March 20. Gasoline supplies
were down 2 million barrels, while distillate stockpiles were unchanged
last week, according to the EIA.

German Ifo Business Climate index climbed to 107.9 in March from
106.8 in February. The current conditions index improved to 112, in line
with expectations, from 111.3 in the prior month. At the same time, the
expectations index rose to 103.9 from 102.5 in February.

Index
Dow
Nifty
Sensex
USD/INR
Dollar Index
Euro/$1US
$1US/Yen
Pound/$1US

Indian market continued to fall for the sixth consecutive session on
account of selling pressure in Capital Goods, Power and Metal stocks.
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18011.14
8542.95
28161.72
62.348
97.45
1.0926
119.75
1.4851
-292.60
-12.15
-49.89
0.06
-0.25
0.0046
-0.25
0.0030
-1.62
-0.14
-0.18
0.10
-0.26
0.42
-0.21
0.20

The dollar traded lower against its rivals Wednesday,
continuing a bearish pattern that has persisted since Federal
Reserve policy makers signaled one week ago that they would
begin raising interest rates later than the market had expected.
The euro was at $1.0974, compared with $1.0924 late Tuesday
in New York. The dollar was at ¥119.41, compared with
¥119.74. The pound rebounded against the buck, trading at
$1.4916, compared with $1.4847.

The Indian rupee today inched up by a paisa against the
American currency to end at 62.26, extending its winning
streak to seventh straight session - the longest string of gains
since June 2011. The rupee opened higher at 62.20 per dollar
as against yesterday's closing level of 62.27 per dollar at the
Interbank Foreign Exchange (Forex) Market. It then firmed up
further to 62.14 per dollar on initial selling of dollars by banks
and exporters in view of sustained capital inflows. However, the
rupee trimmed its initial gains on some dollar demand from
banks and importers and ended at 62.26, showing a marginal
gain of one paise or 0.02 per cent.
French business confidence index fell to 99 from 100 in February. It
was forecast to remain unchanged at 100.
U.S. stocks were bludgeoned in Wednesday trading with the Dow
threatening a 300-point drop as the Nasdaq Composite suffered its
steepest decline since April 2014 as investors dumped technology and
biotechs shares. The Nasdaq Composite ended the day down 118.21
points, or 2.4%, at 4,876.52.ost 19.06 points, or 0.9%, to 2,072.44. The
S&P 500 fell 30.45 points, or 1.5% to 2,061.05. The Dow Jones
Industrial Average lost 292.60 points, or 1.6% to 17,718.54.
17718.54
8530.80
28111.83
62.412
97.20
1.0972
119.50
1.4881
% Change
Currency Update
Market Update

25-March-15 24-March-15 Pts. Ch.
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
26 March 2015
TECHNICAL REPORT
PRECIOUS METALS
Open Interest
Closing
Bullion
Gold June MCX
Gold April Comex
Silver May MCX
Silver May Comex
Open
26458
1193
37870
16.935
Bullion
( Technical )
Gold June MCX
Gold April Comex
Silver May MCX
Silver May Comex
High
26728
1199
38340
17.140
Low
26410
1186
37750
16.840
25-Mar-15
26706
1197
38158
17.000
24-Mar-15
26542
1191
37991
16.983
% Ch
0.62
0.47
0.44
0.10
25-Mar-15
6531
155010
8329
107014
25-Mar-2015
% Ch
8.78
-14.27
-7.47
-0.60
Close Price
Sup-3
Sup-2
Sup-1
Pivot Point
Res -1
Res -2
Res -3
26706
1197
38158
17.000
26183
1176
37235
16.547
26297
1181
37493
16.693
26501
1189
37825
16.847
26615
1194
38083
16.993
26819
1202
38415
17.147
26933
1207
38673
17.293
27137
1215
39005
17.447
Holdings In Tonnes As On
Name of the ETF
24-Mar-15
6004
180814
9001
107657
25-Mar-2015
Ratio
%Ch
24-Mar-2015
Ratio
Close
Close
SPDR Gold ETF
743.21
744.40
-0.16
Gold v/s Silver
1197.00
17.000
70.41
iShares Silver Trust
10118.69
10118.69
0.00
Gold v/s Crude Oil
1197.00
49.21
24.32
BASE METALS
LME Inventories (In Tonnes)
Base Metals
Aluminum
Copper
Nickel
Lead
Zinc
Base Metals
( Technical )
Aluminium ( March )
Copper ( April )
Nickel ( March )
Lead ( March )
Zinc ( March )
25-Mar-2015
24-Mar-2015
3969175
342625
433980
237275
520175
3975900
342275
431490
237775
520200
Change
% Change
-6725
350
2490
-500
-25
-0.17
0.10
0.58
-0.21
-0.005
Close Price
Sup-3
Sup-2
Sup-1
Pivot Point
Res -1
Res -2
Res -3
110.85
387.15
853.80
115.25
129.80
109.00
381.10
826.50
113.10
127.60
109.60
382.50
839.30
113.60
128.10
110.20
384.80
846.50
114.40
128.90
110.80
386.30
859.30
114.90
129.40
111.50
388.60
866.50
115.80
130.30
112.10
390.00
879.30
116.30
130.80
112.70
392.30
886.50
117.10
131.60
ENERGY
Open Interest
Closing
ENERGY
Crude Oil April MCX
Crude May Nymex
Natural Gas April MCX
Natural Gas May Henry Hub
ENERGY
( Technical )
Crude Oil April MCX
Crude May Nymex
Natural Gas April MCX
Natural Gas May Henry Hub
Open
2982
47.72
174.30
2.806
High
3111
49.46
177.00
2.813
Low
2961
47.00
172.10
2.732
25-Mar-15
3094
49.21
173.80
2.740
24-Mar-15
2995
47.51
176.70
2.810
% Ch
3.31
3.58
-1.64
-2.49
25-Mar-15
20197
523027
3027
273292
24-Mar-15
20983
529039
1857
236176
% Ch
-3.75
-1.14
63.00
15.72
Close Price
Sup-3
Sup-2
Sup-1
Pivot Point
Res -1
Res -2
Res -3
3094
49.21
173.80
2.740
2850
45.19
166.70
2.629
2905
46.10
169.40
2.681
3000
47.65
171.60
2.710
3055
48.56
174.30
2.762
3150
50.11
176.50
2.791
3205
51.02
179.20
2.843
3300
52.57
181.40
2.872
OUTLOOK
Precious Metal: Likely to remain range-bound with negative 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 positive bias. Trade tracking support and resistance.
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C O M M O D I T YREPORT
26 March 2015
ECONOMIC CALENDER
Time
12:30:00 PM
1:15:00 PM
3:00:00 PM
3:00:00 PM
3:00:00 PM
3:00:00 PM
4:30:00 PM
6:00:00 PM
6:00:00 PM
6:00:00 PM
7:15:00 PM
8:00:00 PM
Country
Germany
France
U.K.
U.K.
U.K.
U.K.
U.K.
U.S.
U.S.
U.S.
U.S.
U.S.
Thursday March 26, 2015
Event
GfK German Consumer Climate (Apr)
French GDP (QoQ) (Q4)
Core Retail Sales (YoY) (Feb)
Core Retail Sales (MoM) (Feb)
Retail Sales (MoM) (Feb)
Retail Sales (YoY) (Feb)
CBI Distributive Trades Survey (Mar)
Continuing Jobless Claims
Initial Jobless Claims
Jobless Claims 4-Week Avg.
Services PMI (Mar)
Natural Gas Storage
Actual
Forecast Previous
9.8
9.7
0.1%
0.1%
4.2%
4.8%
0.4%
-0.7%
0.4%
-0.3%
4.7%
5.4%
15
1
2,403K 2,417K
290K
291K
304.75K
57.2
57.1
6B
-45B
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.
ICFL (100% Subsidiary Company of Shriram Insight Share Brokers Ltd) shall also not be liable for errors, omissions or typographical errors, disruption delay, interruption, failure, deletion or defect of/in the
Service provided by it.
All Users of the Service in countries other than India understand that by using the Service, they may be violating the local laws in such countries. If the User chooses to access the Service from outside India,
he shall be responsible for compliance with foreign and local laws
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Enquiry : +91 33 2359 4612, +91 33 2359 4614, +91 33 2358 1953, E-mail : [email protected]