Visit us at www.sharekhan.com May 07, 2015 Fundamental Calls Fundamental Currency Call 5/1/2015 Buy NSE JPYINR at 53.75 stop loss 53.35 target 54.2/54.4 Weakness in DX after Soft Economic Data, BOJ Maintains Key Policy of Boosting Monetary Base by Y80 Tln per Year, possible risk aversion on macro concerns Fed Policy makers expect US growth to rebound after slowing in the winter months leaving possibility of rate hike sooner than expected, weak economic data out of Japan, divergent monetary policies May 05, 2015: stopped out at Rs 53.29 (Rs4922) Total currencies trading deducting brokerage (Rs4922) Total IRF trading deducting brokerage nil 5/1/2015 Copper sell call - Fundamental call - Copper - Sell at Rs 413. stop-loss Rs 420. Target Rs 402/ Rs 398 Rally about equities and euro rather than real demand based fundamentals, disappointing macro data out of the US risk appetite, China s easing speculation May 06, 2015: exit at Rs 417.75 (Rs4948) 5/1/2015 Lead, copper mini spread call - Fundamental inter-commodity spread call - Sell 6 lots of copper mini at Rs 416.20. Buy lead at Rs 136.10. stop-loss spread Rs 10000. Target spread Rs 10000/ Rs 20000 Copper prices getting ahead of fundamentals as global economy slowing, China s growth rate lower, crude oil can outperform on declining rig counts, decline in Cushing inventories lies in production downgrades of copper by copper producers May 05, 2015: book profit at CMPs. Lead at Rs 137.10 Rs4667 For Private Circulation only REGISTRATION DETAILS Regd Add: Sharekhan Limited, 10th Floor, Beta Building, Lodha ithink Techno Campus, Off. JVLR, Opp. Kanjurmarg Railway Station, Kanjurmarg (East), Mumbai 400042, Maharashtra. Tel: 022-61150000. Sharekhan Ltd.: SEBI Regn. Nos. BSE - INB/INF011073351 ; BSE- CD ; NSE- INB/INF231073330 ; CD-INE231073330 ; MCX Stock Exchange - INB/INF261073333 ; CD-INE261073330 ; DP - NSDL-IN-DP-NSDL-233-2003 ; CDSL-IN- DP-CDSL-271-2004 ; PMS-INP000000662 ; Mutual Fund-ARN 20669 ; Commodity trading through Sharekhan Commodities Pvt. Ltd.: MCX-10080 ; (MCX/ TCM/CORP/0425) ; NCDEX-00132 ; (NCDEX/TCM/CORP/0142) ; NCDEX SPOT-NCDEXSPOT/116/CO/11/20626 ; For any complaints email at igc@sharekhan.com; Disclaimer: Client should read the Disclosure Document issued by SEBI & relevant exchanges and Do s & Don ts by MCX & May 07, 2015 NCDEX and the T & C on www.sharekhan.com before 1investing.
5/1/2015 Lead, zinc spread call - fundamental inter-commodity spread call - sell zinc at rs 149.80, buy lead at rs 135.80, stop-loss spread rs 10000. target spread rs 10000/ rs 20000 zinc inventories at SHFE monitored warehouses rising, lead inventories falling SHFE warehouses, strong automobile sector in China supportive for lead speculative buying in zinc based on falling LME stocks May 05, 2015: stopped out (Rs10857) 5/1/2015 Crude oil, zinc spread call - Fundamental inter-commodity spread call - Sell zinc May at Rs 148.40. Buy 18 lots of crude oil mini May at Rs 3770. stop-loss spread Rs 15000. target spread Rs 20000/ Rs 25000 Base metals look quite stretched as China slowing down, zinc inventories at SHFE warehouses continue to rise, Crude oil likely to outperform on improving DoE data and approaching driving season speculation that falling zinc stocks at LME indicate tight market May 06, 2015: exit at CMPs. Crude oil mini at Rs 3917, zinc at Rs 153.20. Rs1608 5/1/2015 Zinc sell call - - Sell zinc May at Rs 148.60. Buy 12 lots of USDINR May at Rs 63.8450. stop-loss spread Rs 10000. target spread Rs 10000/ Rs 20000 Base metals look quite stretched as China slowing down, zinc inventories at SHFE warehouses continue to rise falling zinc stocks at LME, weaker Dollar, stimulus speculation May 05, 2015: stopped out (Rs10829) 5/1/2015 Fundamental inter-commodity spread call - Sell zinc at Rs 150.50. buy 7 lots of nickel mini at Rs 890. stop-loss spread Rs 10000. Target spread Rs 10000/ Rs 20000 Nickel likely to be supported on strike news, premium of zinc over nickel doesn t look justified with slowing global economy, Nickel cancel warrants rising, zinc SHFE stocks rising falling zinc stocks at LME, weaker Dollar, stimulus speculation May 05, 2015: book profit at CMPs. Nickel mini at Rs 908.50, zinc at Rs 151.80 Rs5625 5/4/2015 Fundamental inter-commodity spread call - Sell zinc at Rs 150.25. Buy 3 lots of gold mini June at Rs 26938. stop-loss spread Rs 10000. Target spread Rs 10000/ Rs 20000 Disappointing US and China data, slowing global economy, base metals rally speculative risk appetite, rising equities, China s easing speculation May 05, 2015: exit at CMPs. Gold mini at Rs 26952, zinc at Rs 152.05 (Rs9048) May 07, 2015 2
5/5/2015 Fundamental inter-commodity spread call - Sell Aluminium at Rs 120.90. buy 6 lots of nickel mini at Rs 884. stop-loss spread Rs 8000. Target spread Rs 8000/ Rs 16000 Nickel pig iron curtailments, tighter ferro-nickel market to boost demand for refined nickel, China s import of ferronickel +63% y/y in 1Q; imports of class 1 refined nickel +190% q/q, aluminium- heavy build up in LME stocks, rising china exports LME nickel inventories +59% to 444,312 mt YTD May 05, 2015: Book profit in nickel mini at 898.80 and Aluminium at 121.70 Rs4200 5/5/2015 Fundamental inter-cmmodity spread call - Sell copper at Rs 415.40. Buy 4 lots of nickel mini at Rs 898.70. stop-loss spread Rs 10000. Target spread Rs 10000/ Rs 20000 Nickel China s nickel market likely to tighten from second half onwards, cancellations up. Copper premium over other metals in slowing global economy not justified, LME stocks up May 05, 2015: book profit at CMPs. Nickel mini at Rs 907 Rs4287 5/5/2015 Fundamental call - silver mini - June - 3 lots - Sell at Rs 38153. stop-loss Rs 38600. Target Rs 37600/ Rs 37300 US ISM data, stronger US Dollar Greece deal still elusive May 05, 2015: exit at Rs 38015 Rs1955 5/4/2015 fundamental call - lead - buy at Rs 137.15. stop-loss Rs 135.50. target rs 140/ rs 141 US ISM data, risk appetite, declining LME and SHFE stocks Greece deal 05-05-2015- - exit at Rs 137.45 Rs1363 5/5/2015 fundamental inter-commodity spread call - sell zinc at rs 152.70, buy 7 lots of nickel mini at rs 907.60. stop-loss spread rs 10000. target spread rs 10000/ rs 20000 Zinc inventories rising in China, Nickel market likely to tighten from H2 onwards May 06, 2015: Book profit in Nickel mini at 929 and Zinc at 154 Rs7641 May 07, 2015 3
5/5/2015 Fundamental inter-commodity spread call - Sell aluminium at Rs 122.05. Buy 7 lots of nickel mini at Rs 898.30. stop-loss spread Rs 10000. target spread Rs 10000/ Rs 20000 Aluminium SHFE stocks rising, LME stocks rise significantly; Nickel market to tighten from H2 onwards May 06, 2015: book profit at CMPs. Nickel mini at Rs 929.20, aluminium at Rs 125.45 Rs3886 5/4/2015 Fundamental inter-commodity spread call - Sell zinc at Rs 132.65, Buy 7 lots of nickel mini at Rs 912. stop-loss spread Rs 10000. target spread Rs 10000/ rs 20000 Zinc SHFE stocks rising, Nickel market expected to tighten from H2, China s zinc exports elevated Falling stocks of Zinc at LME, nickel inventories yet to exhibit a proper declining trend. May 06, 2015: Book profit at CMPs. Zinc at Rs 152.55, Nickel mini at Rs 918 Rs4309 5/4/2015 Fundamental inter-commodity spread call - Sell zinc at Rs 153.15, Buy 3 lots of gold mini at Rs 26979. stop-loss spread Rs 10000. target spread Rs 10000/ Rs 20000 US ADP data disappointing, Dollar weaker, Crude oil up, equities lower Falling LME stockpiles of zinc, China s services data decent May 06, 2015: book profit at CMPs. Gold mini at Rs 26900, zinc at Rs 151.75 Rs4315 5/4/2015 - Fundamental inter-commodity spread call - Sell aluminium at Rs 122.15. Buy lead at Rs 136.40. stoploss spread Rs 10000. target spread Rs 10000/ Rs 20000 Aluminium - hefty build-up of stocks at LME, SHFE inventories rising; lead - inventories continue to decline at both SHFE and LME warehouses In risk off scenario aluminium can do better May 06, 2015: stopped out (Rs10776) Total commodities trading deducting brokerage (Rs2602) Total commodities, Currencies and IRF trading profit/(loss) after deducting brokerage (Rs7524) May 07, 2015 4
Fundamental Currency Call 4/30/2015 Fundamental call - USDINR - Buy at Rs 63.9050. stop-loss Rs 63.50. target Rs 64.50/ Rs 64.80 aversion, US ISM non-manufacturing better than forecast, Greece deal yet to be concluded US job data ahead, Greece deal could be reached in kick-the-can style - Profit/(Loss) - To know more about our products and services click here. For Private Circulation only Home "This document has been prepared by Sharekhan Commodities Pvt. Ltd. and is intended only for the person or entity to which it is addressed to and may contain confidential and/or privileged material and is not for any type of circulation. Any review, retransmission, or any other use is prohibited. Kindly note that this document does not constitute an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. If you have received this in error, please contact the sender and delete the material immediately from your computer/mailbox. The information contained herein is from sources believed reliable. We do not represent that it is accurate or complete and it should not be relied upon as such. We may from time to time have positions in, May or options 07, 2015 on, and buy and sell securities referred to herein. We may from time to time solicit from, or perform investment Commodity, banking, or other services Currency for, any company & IRF mentioned. Trading Any comments Calls 5 or statements made herein do not necessarily reflect those of Sharekhan Commodities Pvt. Ltd."