Escorts reported Q3FY20 results which are in line with our estimates. Garnering of market share from other dominant players and higher operating efficiencies were key highlights. EBITDA was up by 6% and Profit by 11.19% on YoY basis. Strong dealer network in northern and central India, better Rabi crop prospects, lower interest rate regime, rural recovery aided by ongoing food inflation and better product offering augurs well for the company. All its business divisions stand on a strong footing and are poised to capture growth. Pick up is expected in Agri Machinery, Construction Equipment and Railway Products division.
Recommendation: HOLD
We have been recommending a buy on Escorts since per share price of Rs.598. Buy recommendation has there on it in both our advisory porfolio’s namely ‘Short Term Advisory Portfolio’ and ‘Multicap Advisory Portfolio’. The company stands on strong financials. The balance sheet is almost net-debt free, has healthy return ratios and operating margins, and ROE is in excess of 20%. We recommend to hold the same for a per share target price of Rs. 810, valuing the company at a PER of 18xFY21e.
Godrej Consumer products reported healthy Q3FY20 numbers. The company did remarkably well to register 7% volume growth for India business. In a slowing economy and falling discretionary consumer spends the company managed to pull off revenue growth of around 2% and Net Profit growth of 5%. Household insecticides remained its forte where both volume and value growth was delivered. Blended realization was lower for soaps and hair colours segment on account of price discounts and consumer offers, topline of both segments de-grew by around 4%. International business was better off delivering a constant currency sales growth of 11% and EBITDA margin expansion of 80 bps on YoY basis. Going forward we believe the company’s new product offering will garner traction as economy recovers and discretionary consumer spends return back with fury.
Recommendation : BUY
We have recommended a buy on Godrej Consumer Products LTD. in our Multicap Advisory portfolio at per share price of Rs. 692. Company’s healthy balance sheet, high return ratios, robust cash flows, and high operating margin provide much needed margin of safety in times of economic slowdown. We believe the company will embark on a journey of mid teen top and bottom line growth from FY21 onwards. We recommend buy on it for a per share target price of Rs. 875, valuing the company at a PER of 35xFY21e.
Disclaimer: This document has been prepared by IndiaNivesh Securities Limited (“INSL”), for use by the recipient as information only and is not for circulation or public distribution. INSL includes subsidiaries, group and associate companies, promoters, employees and affiliates. INSL researches, aggregates and faithfully reproduces information available in public domain and other sources, considered to be reliable and makes them available for the recipient, though its accuracy or completeness has not been verified by INSL independently and cannot be guaranteed. The third party research material included in this document does not represent the views of INSL and/or its officers, employees and the recipient must exercise independent judgement with regard to such content. This document has been published in accordance with the provisions of Regulation 18 of the Securities and Exchange Board of India (Research Analysts) Regulations, 2014. This document is not to be altered, transmitted, reproduced, copied, redistributed, uploaded or published or made available to others, in any form, in whole or in part, for any purpose without prior written permission from INSL. This document is solely for information purpose and should not to be construed as an offer to sell or the solicitation of an offer to buy any security. Recipients of this document should be aware that past performance is not necessarily a guide for future performance and price and value of investments can go up or down. The suitability or otherwise of any investments will depend upon the recipients particular circumstances. INSL does not take responsibility thereof. The research analysts of INSL have adhered to the code of conduct under Regulation 24 (2) of the Securities and Exchange Board of India (Research Analysts) Regulations, 2014. This document is based on technical and derivative analysis center on studying charts of a stock’s price movement, outstanding positions and trading volume, as opposed to focusing on a company’s fundamentals and, as such, may not match with a report on a company’s fundamentals. Nothing in this document constitutes investment, legal, accounting and/or tax advice or a representation that any investment or strategy is suitable or appropriate to recipients’ specific circumstances. INSL does not accept any responsibility or whatever nature for the information, assurances, statements and opinion given, made available or expressed herein or for any omission or for any liability arising from the use of this document. Opinions expressed are our current opinions as of the date appearing on this document only. The opinions are subject to change without any notice. INSL directors/employees and its clients may have holdings in the stocks mentioned in the document. This report is based / focused on fundamentals of the Company and forward-looking statements as such, may not match with a report on a company’s technical analysis report. Each of the analysts named below hereby certifies that, with respect to each subject company and its securities for which the analyst is responsible in this report, (1) all of the views expressed in this report accurately reflect his or her personal views about the subject companies and securities, and (2) no part of his or her compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed in this report: Dharmesh Kant
Posted by Mehul Kothari | Published on 30-JAN-2020
Daily change & technical levels
Scrip
Close
Change (%)
R2
R1
Pivot
S1
S2
GOLD
40350
0.27
40683
40517
40291
40125
39899
SILVER
45551
0.17
46006
45778
45518
45290
45030
CRUDE
3806
-0.05
3927
3866
3822
3761
3717
NG
134.60
-2.04
139.50
137.10
135.20
132.80
130.90
ALUMINI
139.50
-0.46
141.30
140.40
139.80
138.90
138.30
COPPER
429.40
-0.80
436.90
433.20
431.10
427.40
425.30
LEADMINI
146.65
-1.38
150.30
148.50
147.40
145.50
144.40
NICKEL
936.20
0.46
952.70
944.40
937.30
929.00
921.90
ZINCMINI
177.00
-0.98
180.90
178.90
177.60
175.70
174.40
DIAMOND
3542.35
-0.55
3579.40
3560.90
3543.50
3524.90
3507.50
STEELLONG
32430
0.43
32640
32530
32360
32250
32080
Comex division
Bullions
Last close
Change (%)
Gold
$1570.40
0.04
Silver
$17.49
0.17
Base metal inventory
Scrip
Inventory
Change
Alumni
1256350
+13925
Copper
183825
-1475
Lead
66800
+0
Nickel
194526
+2202
Zinc
50175
-100
BULLION
Gold and silver slightly up; downbeat US goods trade balance and existing home sales support prices.
Review
On Wednesday, gold and silver prices settled on a slightly positive note in the international markets. Gold February futures settled at $1,570.40 per troy ounce, up by 0.04%, while silver March futures settled at $17.49 per troy ounce, up by 0.17%. Domestic markets were also settled on a positive note. Gold settled at Rs40,350 per 10 grams with a gain of 0.27%, and silver settled at Rs45,551 per kilogram with a gain of 0.17%. Gold and silver prices got support at lower levels in a volatile session on Wednesday after downbeat US goods trade balance and existing home sales data. The US Federal Reserve kept key interest rates unchanged. After the US Fed policy meeting outcome, the dollar index plunged from its highs and supported prices of precious metals. We expect both precious metals to remain volatile and to face resistance at higher levels. Gold has support at $1,562–1,555 and resistance at $1,578–1,584. Silver has support at $17.30–17.20, while resistance is at $17.60–17.80.
Source: Tele-quote
Today, gold has support at Rs40,125–39,899, while resistance is at Rs40,517–40,683. Silver has support at Rs45,290–45,030, while resistance is at Rs45,778–46,006. Traders are suggested to trade in a range with a strict stop-loss.
ENERGY
Crude oil prices dip after rise in US weekly inventory and downbeat US data. Trend volatile.
Review
On Wednesday, crude oil settled on a slightly weaker note in international markets as WTI crude settled at $53.33 per barrel, while Brent settled at $58.66 per barrel. Domestic markets also settled on a slightly weaker note at Rs3,806 per barrel with a loss of 0.05%. Crude oil prices slipped on Wednesday after the US EIA reported a rise in weekly crude oil inventory, prices also faced pressure due to downbeat US goods trade balance and existing home sales data. The Energy Information Administration reported earlier on Wednesday that US crude stockpiles rose by 3.5 million barrels last week, as compared to analysts’ expectations for a build of just about 4,80,000 barrels. Crude oil prices remained volatile due to fear of the Chinese coronavirus and a rise in inventories; crude prices could test the support level of $52 per barrel. Crude oil has support at $52.70–52.00 and resistance at $53.80–54.40.
Source: Tele-quoteCrude oil has support at Rs3,761–3,717, while resistance is at Rs3,866–3,927; traders are suggested to trade in a range with a strict stop-loss.
BASE METALS
Base metals slip on fear of coronavirus and downbeat US data. Trend volatile
Review
On Wednesday, base metals settled on a weaker note in international markets. 3M LME copper settled at $5,650.00 per metric ton with a loss of 0.90% from the previous close. Base metals prices slipped again on Wednesday due to fears of the Chinese coronavirus and downbeat US goods balance and existing home sales data. US goods trade balance was reported at -68.3 billion US dollars against expectations of -64.5 billion US dollars while US existing home sales fell to -4.9% against expectations of a rise of 0.5%. The US Federal Reserve also kept the key policy rate unchanged, which put further pressure on the prices of base metals. Copper prices slipped below $5,650 per metric ton at the LME. We expected prices could test $5,550 per metric ton in the coming days. Today, copper has support in the range of Rs427–425, while resistance is at Rs433–437. Nickel should trade in the range of Rs922–948, zinc should trade in the range of Rs174–180, lead should trade in the range of Rs144–149, and aluminium should trade in the range of Rs138–141.
Source: Tele-quoteCopper has support at Rs427 and Rs425, while resistance is at Rs433 and Rs437; traders are suggested to trade as per levels with a strict stop-loss.
AGRI COMMODITIES
Edible oil and oil seeds recover after sustained fall; other agro commodities traded weak. Trend volatile.
Review
On Wednesday, agricultural commodities witnessed a mixed trend, as edible oil and oil seeds recovered after a sustained fall but other agricultural commodities remained under pressure. Due to fears of the Chinese coronavirus, export demand for commodities remained subdued in the coming months. Bursa Malaysia KLC also recovered from their lows. Soybean February futures settled on a slightly positive note in the domestic markets at Rs4,058 per quintal with a gain of 0.59%. CBOT settled at 892 cents. Other agricultural commodities settled on a mixed note at NCDEX. Chana March futures settled with a loss of 0.74%, and castor seed futures settled with a loss of 0.50%. RM seed closed with a gain of 0.38%. Guar seed settled with a gain of 0.60%, and guar gum settled with a gain of 0.24%. The spices pack settled on a weaker note; coriander, jeera and turmeric settled negative on fears of lower export demand due to the Chinese coronavirus. Cotton seed oilcake February futures closed negative with a loss of 0.97%. Refined soy oil February futures closed positive at Rs860. We expect refined soy oil to trade in the range of Rs848–874.
Source: Tele-quoteSoybean has support at Rs4,020–3,980, while resistance is at Rs4,090–4,110. Refined soy oil has support at Rs854–848, while resistance is at Rs868–874. Traders are suggested to trade as per levels with a strict stop-loss.
News Source: Bloomberg, investing.com, kitco.com and ticker news.
Disclaimer: This document has been prepared by IndiaNivesh Commodities Private Limited (IndiaNivesh), for use by the recipient as information only and is not for circulation or public distribution. This document is not to be reproduced, copied, redistributed or published or made available to others, in whole or in part without prior permission from us. This document is not to be construed as an offer to sell or the solicitation of an offer to buy any commodity. Recipients of this document should be aware that past performance is not necessarily a guide for future performance and price and value of investments can go up or down. The suitability or otherwise of any investments will depend upon the recipients particular circumstances. The information contained in this document has been obtained from sources that are considered as reliable though its accuracy or completeness has not been verified by IndiaNivesh independently and cannot be guaranteed. Neither IndiaNivesh nor any of its affiliates, its directors or its employees accepts any responsibility or whatever nature for the information, statements and opinion given, made available or expressed herein or for any omission or for any liability arising from the use of this document. Opinions expressed are our current opinions as of the date appearing on this material only. IndiaNivesh directors and its clients may have holdings in the commodity and currencies mentioned in the report.)
Escorts & Godrej Consumer Products Ltd. - Q3 FY20 Stock Result Updates
In-line quarter, PAT growth boosted by lower input cost & taxes

Rating: HOLD | CMP: Rs 748.20 | Target Price: Rs 810 | Upside: 8.30%
Escorts reported Q3FY20 results which are in line with our estimates. Garnering of market share from other dominant players and higher operating efficiencies were key highlights. EBITDA was up by 6% and Profit by 11.19% on YoY basis. Strong dealer network in northern and central India, better Rabi crop prospects, lower interest rate regime, rural recovery aided by ongoing food inflation and better product offering augurs well for the company. All its business divisions stand on a strong footing and are poised to capture growth. Pick up is expected in Agri Machinery, Construction Equipment and Railway Products division.
Recommendation: HOLD
We have been recommending a buy on Escorts since per share price of Rs.598. Buy recommendation has there on it in both our advisory porfolio’s namely ‘Short Term Advisory Portfolio’ and ‘Multicap Advisory Portfolio’. The company stands on strong financials. The balance sheet is almost net-debt free, has healthy return ratios and operating margins, and ROE is in excess of 20%. We recommend to hold the same for a per share target price of Rs. 810, valuing the company at a PER of 18xFY21e.
In-line quarter, Encouraging volume growth
Rating: BUY | CMP: Rs 741 | Target Price: Rs 875 | Upside: 17.92%
Godrej Consumer products reported healthy Q3FY20 numbers. The company did remarkably well to register 7% volume growth for India business. In a slowing economy and falling discretionary consumer spends the company managed to pull off revenue growth of around 2% and Net Profit growth of 5%. Household insecticides remained its forte where both volume and value growth was delivered. Blended realization was lower for soaps and hair colours segment on account of price discounts and consumer offers, topline of both segments de-grew by around 4%. International business was better off delivering a constant currency sales growth of 11% and EBITDA margin expansion of 80 bps on YoY basis. Going forward we believe the company’s new product offering will garner traction as economy recovers and discretionary consumer spends return back with fury.
Recommendation : BUY

We have recommended a buy on Godrej Consumer Products LTD. in our Multicap Advisory portfolio at per share price of Rs. 692. Company’s healthy balance sheet, high return ratios, robust cash flows, and high operating margin provide much needed margin of safety in times of economic slowdown. We believe the company will embark on a journey of mid teen top and bottom line growth from FY21 onwards. We recommend buy on it for a per share target price of Rs. 875, valuing the company at a PER of 35xFY21e.
Disclaimer: This document has been prepared by IndiaNivesh Securities Limited (“INSL”), for use by the recipient as information only and is not for circulation or public distribution. INSL includes subsidiaries, group and associate companies, promoters, employees and affiliates. INSL researches, aggregates and faithfully reproduces information available in public domain and other sources, considered to be reliable and makes them available for the recipient, though its accuracy or completeness has not been verified by INSL independently and cannot be guaranteed. The third party research material included in this document does not represent the views of INSL and/or its officers, employees and the recipient must exercise independent judgement with regard to such content. This document has been published in accordance with the provisions of Regulation 18 of the Securities and Exchange Board of India (Research Analysts) Regulations, 2014. This document is not to be altered, transmitted, reproduced, copied, redistributed, uploaded or published or made available to others, in any form, in whole or in part, for any purpose without prior written permission from INSL. This document is solely for information purpose and should not to be construed as an offer to sell or the solicitation of an offer to buy any security. Recipients of this document should be aware that past performance is not necessarily a guide for future performance and price and value of investments can go up or down. The suitability or otherwise of any investments will depend upon the recipients particular circumstances. INSL does not take responsibility thereof. The research analysts of INSL have adhered to the code of conduct under Regulation 24 (2) of the Securities and Exchange Board of India (Research Analysts) Regulations, 2014. This document is based on technical and derivative analysis center on studying charts of a stock’s price movement, outstanding positions and trading volume, as opposed to focusing on a company’s fundamentals and, as such, may not match with a report on a company’s fundamentals. Nothing in this document constitutes investment, legal, accounting and/or tax advice or a representation that any investment or strategy is suitable or appropriate to recipients’ specific circumstances. INSL does not accept any responsibility or whatever nature for the information, assurances, statements and opinion given, made available or expressed herein or for any omission or for any liability arising from the use of this document. Opinions expressed are our current opinions as of the date appearing on this document only. The opinions are subject to change without any notice. INSL directors/employees and its clients may have holdings in the stocks mentioned in the document. This report is based / focused on fundamentals of the Company and forward-looking statements as such, may not match with a report on a company’s technical analysis report. Each of the analysts named below hereby certifies that, with respect to each subject company and its securities for which the analyst is responsible in this report, (1) all of the views expressed in this report accurately reflect his or her personal views about the subject companies and securities, and (2) no part of his or her compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed in this report: Dharmesh Kant
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Economic Events - Watch Out for Key Economic Events of February 2020
Date Country Event Forecast Previous 02-02-2020 Australia AIG Manufacturing Index (Jan.) 48.3 Australia Building Approvals (M-o-M) (Dec.) 2.0% 11.8% 03-02-2020 Australia AIG Manufacturing Index (Jan.) 48.3 Australia Building Approvals (M-o-M) (Dec.) -3.00% 11.80% U.K GBP/USD Index 51.40% U.S.A Gold Index 55.30% U.S.A S&P 500 Index 38.20% Australia AUD/USD Index 50.60% Japan USD/JPY Index 66.00% Eurozone EUR/USD Index 45.90% Russia Markit Manufacturing PMI (Jan.) 47.5 Germany German Manufacturing PMI (Jan.) 45.2 43.7 Eurozone Manufacturing PMI (Jan.) 47.8 46.3 U.K Manufacturing PMI (Jan.) 49.8 49.8 Russia GDP Quarterly (Y-o-Y) 1.70% U.S.A Manufacturing PMI (Jan.) 51.7 52.4 U.S.A ISM Manufacturing Employment (Jan.) 45.1 U.S.A ISM Manufacturing PMI (Jan.) 48.5 47.2 05-02-2020 U.S.A API Weekly Crude Oil Stock -4.267 M Japan Services PMI (Jan.) 52.1 49.4 China Chinese Composite PMI 52.6 Russia Markit Services PMI (Jan.) 53.1 Germany German Services PMI (Jan.) 54.2 52.9 Eurozone Markit Composite PMI (Jan.) 50.9 50.9 Eurozone Services PMI (Jan.) 52.2 52.8 U.K Composite PMI (Jan.) 52.4 52.4 U.K Services PMI (Jan.) 52.9 52.9 Eurozone Retail Sales (M-o-M) (Dec.) -0.50% 1.00% U.S.A ADP Non-Farm Employment Change (Jan.) 159 K 202 K U.S.A Trade Balance (Dec.) -48.00 B -43.10 B U.S.A Markit Composite PMI (Jan.) 53.1 52.7 U.S.A Services PMI (Jan.) 53.2 52.8 U.S.A ISM Non-Manufacturing Employment (Jan.) 55.2 U.S.A ISM Non-Manufacturing PMI (Jan.) 55.1 55 06-02-2020 Australia NAB Quarterly Business Confidence -2 Australia Retail Sales (M-o-M) (Dec.) -0.20% 0.90% Australia Trade Balance (Dec.) 5.950 B 5.800 B India Interest Rate Decision 5.15% 5.15% Germany German Factory Orders (M-o-M) (Dec.) 0.60% -1.30% Russia Central Bank reserves (USD) 559.8 B Russia CPI (M-o-M) (Jan.) 0.50% 0.40% Russia CPI (Y-o-Y) (Jan.) 2.50% 3.00% U.S.A Initial Jobless Claims 215 K 216 K U.S.A Non-Farm Productivity (Q-o-Q) (Q4) 1.50% -0.20% U.S.A Unit Labor Costs (Q-o-Q) (Q4) 1.30% 2.50% 07-02-2020 Japan Household Spending (M-o-M) (Dec.) 0.20% 2.60% Japan Household Spending (Y-o-Y) (Dec.) -1.70% -2.00% Germany German Industrial Production (M-o-M) (Dec.) -0.20% 1.10% Germany German Trade Balance (Dec.) 18.4 B 18.3 B U.K Halifax House Price Index (M-o-M) (Jan.) -0.20% 1.70% Russia Interest Rate Decision (Feb.) 6.00% 6.25% U.S.A Average Hourly Earnings (Y-o-Y) (Y-o-Y) (Jan.) 3.00% 2.90% U.S.A Average Hourly Earnings (M-o-M) (Jan.) 0.30% 0.10% U.S.A Non-Farm Payrolls (Jan.) 161 K 145 K U.S.A Participation Rate (Jan.) 63.10% 63.20% U.S.A Private Non-Farm Payrolls (Jan.) 150 K 139 K U.S.A Unemployment Rate (Jan.) 3.50% 3.50% 10-02-2020 Japan Current Account n.s.a. (Dec.) 1.423 T 1.437 T China CPI (Y-o-Y) (Jan.) 4.70% 4.50% China CPI (M-o-M) (Jan.) 0.30% 0.40% China PPI (Y-o-Y) (Jan.) -0.40% -0.50% 11-02-2020 U.K BRC Retail Sales Monitor (Y-o-Y) (Jan.) 1.70% Australia NAB Business Confidence (Jan.) -2 U.K Business Investment (Q-o-Q) (Q4) -0.50% -0.40% U.K GDP (Q-o-Q) (Q4) 0.40% 0.40% U.K GDP (Y-o-Y) (Q4) 1.10% 1.10% U.K Industrial Production (M-o-M) (Dec.) -1.20% U.K Manufacturing Production (M-o-M) (Dec.) -1.70% U.K Trade Balance (Dec.) -5.26 B U.K Trade Balance Non-EU (Dec.) 1.73 B U.S.A JOLTs Job Openings (Dec.) 7.233 M 6.800 M 12-02-2020 Australia Westpac Consumer Sentiment (Feb.) -1.80% Eurozone Industrial Production (M-o-M) (Dec.) 0.20% India CPI (Y-o-Y) (Jan.) 6.20% 7.35% 13-02-2020 U.S.A Federal Budget Balance (Jan.) -13.3 B Germany German CPI (M-o-M) (Jan.) 0.50% -0.60% U.S.A Core CPI (M-o-M) (Jan.) 0.20% 0.10% U.S.A Core CPI (Y-o-Y) (Jan.) 2.20% 2.30% U.S.A CPI (M-o-M) (Jan.) 0.10% 0.20% 14-02-2020 India WPI Inflation (Y-o-Y) (Jan.) 2.15% 2.59% Germany German GDP (Y-o-Y) (Q4) 0.90% 1.00% Germany German GDP (Q-o-Q) (Q4) -0.10% 0.10% Eurozone GDP (Q-o-Q) (Q4) 0.20% 0.10% Eurozone GDP (Y-o-Y) (Q4) 1.00% Eurozone Trade Balance (Dec.) 20.7 B U.S.A Core Retail Sales (M-o-M) (Jan.) 0.40% 0.70% U.S.A Export Price Index (M-o-M) (Jan.) 0.20% -0.20% U.S.A Import Price Index (M-o-M) (Jan.) -0.10% 0.30% U.S.A Retail Sales (M-o-M) (Jan.) 0.30% 0.30% U.S.A Industrial Production (Y-o-Y) (Jan.) -1.01% U.S.A Industrial Production (M-o-M) (Jan.) -0.10% -0.30% U.S.A Business Inventories (M-o-M) (Dec.) 0.10% -0.20% U.S.A Michigan Consumer Expectations (Feb.) 89 90.5 U.S.A Michigan Consumer Sentiment (Feb.) 99.3 99.8 U.S.A Retail Inventories Ex-Auto (Dec.) -0.20% 15-02-2020 U.K CFTC GBP speculative net positions 17.7 K U.S.A CFTC Crude Oil speculative net positions 461.8 K U.S.A CFTC Gold speculative net positions 330.1 K U.S.A CFTC Nasdaq 100 speculative positions 24.4 K U.S.A CFTC S&P 500 speculative net positions 16.8 K Australia CFTC AUD speculative net positions -27.5 K Japan CFTC JPY speculative net positions -31.4 K Russia CFTC RUB speculative positions 29.1 K Eurozone CFTC EUR speculative net positions -58.9 K 17-02-2020 Japan GDP (Q-o-Q) (Q4) 0.20% 0.40% Japan GDP (Y-o-Y) (Q4) 0.80% 1.80% Japan Industrial Production (M-o-M) (Dec.) 1.30% 18-02-2020 U.K Average Earnings Index + Bonus (Dec.) 3.10% 3.20% U.K Claimant Count Change (Jan.) 22.6 K 14.9 K U.K Employment Change 3M/3M (M-o-M) (Dec.) 110 K 208 K U.K Unemployment Rate (Dec.) 3.80% 3.80% Germany German ZEW Current Conditions (Feb.) -13.5 -9.5 Germany German ZEW Economic Sentiment (Feb.) 15 26.7 Eurozone ZEW Economic Sentiment (Feb.) 25.6 U.S.A NY Empire State Manufacturing Index (Feb.) 3.55 4.8 19-02-2020 U.S.A TIC Net Long-Term Transactions (Dec.) 22.9 B Japan Exports (Y-o-Y) (Jan.) -6.30% Japan Trade Balance (Jan.) -150.0 B -154.6 B Australia Wage Price Index (Q-o-Q) (Q4) 0.50% 0.50% ZAR Core CPI (M-o-M) (Jan.) 0.20% 0.20% ZAR CPI (M-o-M) (Jan.) 0.30% 0.30% U.K CPI (Y-o-Y) (Jan.) 1.50% 1.30% U.K CPI (M-o-M) (Jan.) 0.20% 0.20% U.K PPI Input (M-o-M) (Jan.) 0.30% 0.10% U.S.A Building Permits (Jan.) 1.468 M 1.420 M U.S.A Building Permits (M-o-M) (Jan.) -3.70% U.S.A Core PPI (M-o-M) (Jan.) 0.20% 0.10% U.S.A Housing Starts (M-o-M) (Jan.) 16.90% U.S.A Housing Starts (Jan.) 1.375 M 1.608 M U.S.A PPI (M-o-M) (Jan.) 0.20% 0.10% 20-02-2020 Australia Employment Change (Jan.) 28.9 K Australia Full Employment Change (Jan.) -0.3 K Australia Unemployment Rate (Jan.) 5.20% 5.10% Germany German PPI (M-o-M) (Jan.) 0.20% 0.10% U.K Core Retail Sales (Y-o-Y) (Jan.) 2.90% 0.70% U.K Core Retail Sales (M-o-M) (Jan.) 0.70% -0.80% U.K Retail Sales (Y-o-Y) (Jan.) 2.60% 0.90% U.K Retail Sales (M-o-M) (Jan.) 0.50% -0.60% U.K CBI Industrial Trends Orders (Feb.) -23 -22 Russia Retail Sales (Y-o-Y) (Jan.) 1.90% 1.90% Russia Unemployment Rate (Jan.) 4.70% 4.60% 21-02-2020 Japan National Core CPI (Y-o-Y) (Jan.) 0.70% 0.70% Japan National CPI (M-o-M) 0.10% Germany German Manufacturing PMI (Feb.) 44.5 43.7 Germany German Services PMI (Feb.) 53 52.9 Eurozone Manufacturing PMI (Feb.) 46.8 46.3 Eurozone Markit Composite PMI (Feb.) 51.2 50.9 Eurozone Services PMI (Feb.) 52.8 52.8 Eurozone Core CPI (Y-o-Y) (Jan.) 1.30% 1.10% Eurozone CPI (Y-o-Y) (Jan.) 1.40% Eurozone CPI (M-o-M) (Jan.) 0.30% U.S.A Manufacturing PMI (Feb.) 52.5 52.4 U.S.A Markit Composite PMI (Feb.) 52.7 U.S.A Services PMI (Feb.) 52.9 52.8 U.S.A Existing Home Sales (M-o-M) (Jan.) 1.30% 3.60% U.S.A Existing Home Sales (Jan.) 5.43 M 5.54 M 22-02-2020 Japan CFTC JPY speculative net positions -44.7 K 29-02-2020 Japan CFTC JPY speculative net positions -36.0 K Source : Investing.com Disclaimer: "Investment in securities market and Mutual Funds are subject to market risks, read all the related documents carefully before investing.")
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Commodity Report 30th January 2020 - Get Daily Commodity Research Reports
Daily change & technical levels Scrip Close Change (%) R2 R1 Pivot S1 S2 GOLD 40350 0.27 40683 40517 40291 40125 39899 SILVER 45551 0.17 46006 45778 45518 45290 45030 CRUDE 3806 -0.05 3927 3866 3822 3761 3717 NG 134.60 -2.04 139.50 137.10 135.20 132.80 130.90 ALUMINI 139.50 -0.46 141.30 140.40 139.80 138.90 138.30 COPPER 429.40 -0.80 436.90 433.20 431.10 427.40 425.30 LEADMINI 146.65 -1.38 150.30 148.50 147.40 145.50 144.40 NICKEL 936.20 0.46 952.70 944.40 937.30 929.00 921.90 ZINCMINI 177.00 -0.98 180.90 178.90 177.60 175.70 174.40 DIAMOND 3542.35 -0.55 3579.40 3560.90 3543.50 3524.90 3507.50 STEELLONG 32430 0.43 32640 32530 32360 32250 32080 Comex division Bullions Last close Change (%) Gold $1570.40 0.04 Silver $17.49 0.17 Base metal inventory Scrip Inventory Change Alumni 1256350 +13925 Copper 183825 -1475 Lead 66800 +0 Nickel 194526 +2202 Zinc 50175 -100 BULLION Gold and silver slightly up; downbeat US goods trade balance and existing home sales support prices. Review On Wednesday, gold and silver prices settled on a slightly positive note in the international markets. Gold February futures settled at $1,570.40 per troy ounce, up by 0.04%, while silver March futures settled at $17.49 per troy ounce, up by 0.17%. Domestic markets were also settled on a positive note. Gold settled at Rs40,350 per 10 grams with a gain of 0.27%, and silver settled at Rs45,551 per kilogram with a gain of 0.17%. Gold and silver prices got support at lower levels in a volatile session on Wednesday after downbeat US goods trade balance and existing home sales data. The US Federal Reserve kept key interest rates unchanged. After the US Fed policy meeting outcome, the dollar index plunged from its highs and supported prices of precious metals. We expect both precious metals to remain volatile and to face resistance at higher levels. Gold has support at $1,562–1,555 and resistance at $1,578–1,584. Silver has support at $17.30–17.20, while resistance is at $17.60–17.80. Source: Tele-quote Today, gold has support at Rs40,125–39,899, while resistance is at Rs40,517–40,683. Silver has support at Rs45,290–45,030, while resistance is at Rs45,778–46,006. Traders are suggested to trade in a range with a strict stop-loss. ENERGY Crude oil prices dip after rise in US weekly inventory and downbeat US data. Trend volatile. Review On Wednesday, crude oil settled on a slightly weaker note in international markets as WTI crude settled at $53.33 per barrel, while Brent settled at $58.66 per barrel. Domestic markets also settled on a slightly weaker note at Rs3,806 per barrel with a loss of 0.05%. Crude oil prices slipped on Wednesday after the US EIA reported a rise in weekly crude oil inventory, prices also faced pressure due to downbeat US goods trade balance and existing home sales data. The Energy Information Administration reported earlier on Wednesday that US crude stockpiles rose by 3.5 million barrels last week, as compared to analysts’ expectations for a build of just about 4,80,000 barrels. Crude oil prices remained volatile due to fear of the Chinese coronavirus and a rise in inventories; crude prices could test the support level of $52 per barrel. Crude oil has support at $52.70–52.00 and resistance at $53.80–54.40. Source: Tele-quoteCrude oil has support at Rs3,761–3,717, while resistance is at Rs3,866–3,927; traders are suggested to trade in a range with a strict stop-loss. BASE METALS Base metals slip on fear of coronavirus and downbeat US data. Trend volatile Review On Wednesday, base metals settled on a weaker note in international markets. 3M LME copper settled at $5,650.00 per metric ton with a loss of 0.90% from the previous close. Base metals prices slipped again on Wednesday due to fears of the Chinese coronavirus and downbeat US goods balance and existing home sales data. US goods trade balance was reported at -68.3 billion US dollars against expectations of -64.5 billion US dollars while US existing home sales fell to -4.9% against expectations of a rise of 0.5%. The US Federal Reserve also kept the key policy rate unchanged, which put further pressure on the prices of base metals. Copper prices slipped below $5,650 per metric ton at the LME. We expected prices could test $5,550 per metric ton in the coming days. Today, copper has support in the range of Rs427–425, while resistance is at Rs433–437. Nickel should trade in the range of Rs922–948, zinc should trade in the range of Rs174–180, lead should trade in the range of Rs144–149, and aluminium should trade in the range of Rs138–141. Source: Tele-quoteCopper has support at Rs427 and Rs425, while resistance is at Rs433 and Rs437; traders are suggested to trade as per levels with a strict stop-loss. AGRI COMMODITIES Edible oil and oil seeds recover after sustained fall; other agro commodities traded weak. Trend volatile. Review On Wednesday, agricultural commodities witnessed a mixed trend, as edible oil and oil seeds recovered after a sustained fall but other agricultural commodities remained under pressure. Due to fears of the Chinese coronavirus, export demand for commodities remained subdued in the coming months. Bursa Malaysia KLC also recovered from their lows. Soybean February futures settled on a slightly positive note in the domestic markets at Rs4,058 per quintal with a gain of 0.59%. CBOT settled at 892 cents. Other agricultural commodities settled on a mixed note at NCDEX. Chana March futures settled with a loss of 0.74%, and castor seed futures settled with a loss of 0.50%. RM seed closed with a gain of 0.38%. Guar seed settled with a gain of 0.60%, and guar gum settled with a gain of 0.24%. The spices pack settled on a weaker note; coriander, jeera and turmeric settled negative on fears of lower export demand due to the Chinese coronavirus. Cotton seed oilcake February futures closed negative with a loss of 0.97%. Refined soy oil February futures closed positive at Rs860. We expect refined soy oil to trade in the range of Rs848–874. Source: Tele-quoteSoybean has support at Rs4,020–3,980, while resistance is at Rs4,090–4,110. Refined soy oil has support at Rs854–848, while resistance is at Rs868–874. Traders are suggested to trade as per levels with a strict stop-loss. News Source: Bloomberg, investing.com, kitco.com and ticker news. Disclaimer: This document has been prepared by IndiaNivesh Commodities Private Limited (IndiaNivesh), for use by the recipient as information only and is not for circulation or public distribution. 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