STRANGLE STRATEGY DAILY DOSAGES FOR 10 JUL 2014 - Smartinvestor

STRANGLE STRATEGY DAILY DOSAGES FOR 10 JUL 2014 - Smartinvestor

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  1. China's copper imports fell 7.9 percent month-on-month in June, dropping as Chinese banks reduced lending for metals imports following a probe into an alleged metals fraud at Qingdao port.
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  2. ITC is likely to remain in focus after Union health minister Harsh Vardhan urged Finance Minister Arun Jaitley to raise tax on cigarettes in the upcoming final Union Budget for 2014-15 to deter people from smoking.
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  3. Gold dropped from a four-month high as investors weighed signs that the rally may be excessive after six weeks of gains and Goldman Sachs Group Inc. restated a forecast for lower prices. Silver, platinum and palladium fell.
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  5. Gold held below $1,300 an ounce as the outlook for higher borrowing costs in the U.S. strengthened the dollar and damped demand for an alternative investment. Silver rebounded after two days of losses.
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  7. Gold headed for a third weekly loss in the longest run of declines since September as U.S. employment data may add to signs that the world’s largest economy is gaining traction.
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  10. Reliance Communication has received Rs. 650 crore from Telecom Infrastructure Finance Private Limited equivalent to 50% of the issue price of the Equity.
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  11. West Texas Intermediate crude slid after a three-day advance before the release of fuel-supply data in the U.S., the world’s biggest oil consumer. Brent also declined.
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  13. Gold imports by India, the world’s biggest consumer after China, will probably decline for a third year as the government keeps curbs on shipments to prevent the current-account deficit from widening and to support the rupee.
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  14. COPPER futures were up on the London Metal Exchange Friday, rebounding from the previous session's slump amid renewed hopes that central banks will step in to boost economic growth.
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  15. Copper trading range for the day is 414.2-422.2 as per the Epic research.

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  16. Aurobindo Pharma will be expanding the capacity of its active pharmaceutical ingredients ( APIs) unit (unit-11) in Vizag this fiscal. Indian Oil Corp is reportedly planning to raise processing of cheaper crude oil varieties to 30% by 2017-18.
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  17. DLF Ltd is planning to reduce debt to Rs 12,000-14,000 crore by FY17 through asset monetization. Reliance Infrastructure has filed an appeal in the Appellate Tribunal for Electricity against the Maharashtra Electricity Regulatory Commission pleading a stay on its recent order in change-over and switchover of its consumers to Tata Power in the Mumbai distribution area.
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  18. Aluminium in London climbed for a second day following Alcoa Inc.’s decision to close a smelter in Italy and before durable goods orders data from the U.S., the second-largest consumer of industrial metals.
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  20. • Axis Bank in focus-Scouts for life insurance tie-up as new rule allows for tie up with three insurers, Axis Bank is already in partnership with LIC & Max Life.
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