DAILY COMMODITY OUTLOOK13 th Dec 2011Market Review & Outlook Pre cio us Metals Both the precious metals opened the first trading session of the week with a negative gap. Gold and silver traded the session with a cut of close to 1% for the ent ire week. Gold price is again approaching its support zone of ` 28700 to ` 28600 levels. On the other hand, a decisive break down below ` 56000 levels will be extrem ely negative for silver. Base Metals & Energy The base metals too opened the session on a negative note and remained in the red territory throughout yesterday’s session. Negative cues from the US and European markets saw the base metals correct further during the evening session. Nickel remained t he outp erformer amongst the base metals. Crude oil closed the session on a flat note. The ` 5235 t o ` 5275 zone will act as stiff resistance for crude oil price. Natural gas remained flat during yesterday ’s session.
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DAILY COMMODITY OUTLOOK 13th
Dec
2011
Market Review & Outlook
Precious Metals
Both the precious metals opened the first trading session of the week with a
negative gap. Gold and silver traded the session with a cut of close to 1% for
the ent ire week. Gold price is again approaching its support zone of ` 28700 to
` 28600 levels. On the other hand, a decisive break down below ` 56000 levels
will be extrem ely negative for silver.
Base Metals & Energy
The base met als too opened the session on a negative note and rem ained in
the red territory throughout yesterday’s session. Negative cues from the US
and European markets saw the base metals correct further during the
evening session. Nickel remained t he outperformer amongst the base metals.
Crude oil closed the session on a flat note. The ` 5235 t o ` 5275 zone will act
as stiff resistance for crude oil price. Natural gas remained flat during
yesterday ’s session.
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DAILY COMMODITY OUTLOOK 13th
Dec
2011
Strategy/Recommendations
MCX Crude oil Dec ` 5203.00
Traders can sell on a break below ` 5175 lev els wit h a stoploss placed above` 5233 levels for downside targets of ` 5105 / ` 5075 levels.
MCX Gold Feb ` 28847.00
Traders can go short between `28850--`28900 levels with a stoploss placed
above ` 29910 levels for downside target s of ` 28610 / ` 28500 levels.
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DAILY COMMODITY OUTLOOK 13th
Dec
2011
Morning Technical Levels for Metals and Energy
Commodity Exchange Contract Trend S2 S1 LTP R1 R2
Bullions
Gold MCX FEB Sideways 28,556 28,701 28,847 29,041 29,236
Spot Gold Sideways 1625 1647 1669.05 1705 1741
Silver MCX MAR Down 55,450 55,796 56,143 56,653 57,164
Natural Gas MCX Dec Down 169.1 171.67 174.2 175.7 177.1
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DAILY COMMODITY OUTLOOK 13th
Dec
2011
Strategy/Recommendations
NCDEX Jeera Dec ` 13475.00
We reiterate our long call. Traders can go long between ` 13425--` 13550 levels with
a stoploss placed below ` 13211 levels for up side target s of ` 13850 / ` 14100 levels.
NCDEX Pepper Dec ` 35900.00
Traders can go long on a break above `36050 levels with a stoploss placed below
` 35610 levels for upside target s of ` 36580 / ` 36750 levels.
Agricultural Commodities
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DAILY COMMODITY OUTLOOK 13th
Dec
2011
Morning Technical Levels for Agri - Commodities
Commodity Exchange Contract Trend S2 S1 LTP R1 R2
Spice Complex
Jeera NCDEX Dec UP 13245 13377 13509.00 13627 13745
Pepper NCDEX Dec UP 35367 35628 35890.00 36073 36257
Turmeric NCDEX Dec UP 4430 4522 4614.00 4768 4922
Chilli NCDEX Dec DOWN 6795 6881 6968.00 7083 7199
Coriander NCDEX Dec 3840 3891 3942.00 4035 4128
Oilseed ComplexSoybean NCDEX Dec Sideways 2233 2246 2259.50 2274 2289
Mustard Seed NCDEX Dec UP 3102 3126 3149.00 3190 3230
Ref Soya Oil NCDEX Dec UP 636 639 641.20 645 650
CPO NCDEX Dec Sideways 170 339 509.10 339 170
Castor Seed NCDEX Dec Sideways 4029 4044 4060.00 4077 4095
Others
Guar Seed NCDEX Dec UP 5525 5675 5824.00 5899 5973
Guar Gum NCDEX Dec UP 18098 18502 18906.00 19108 19310
Chana NCDEX Dec UP 3035 3064 3093.00 3130 3167
Sugar NCDEX Dec UP 2969 2983 2998.00 3007 3017
Sugar NCDEX Dec UP 995 1989 2984.00 1989 995
Kapas NCDEX Apr UP 698 701 703.30 705 708
Cotton Oilseed
Cake
NCDEX Jan Sideways 1134 1141 1147.00 1157 1166
Gur NCDEX Dec DOWN 998 1001 1004.00 1007 1009
Potato NCDEX Apr DOWN 542 544 545.30 548 550
Menthaoil MCX Dec DOWN 1301 1308 1315.20 1322 1330
Wheat NCDEX Dec Sideways 1127 1133 1138.00 1142 1145
Maize NCDEX Dec Sideways 1055 1068 1081.00 1104 1127
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DAILY COMMODITY OUTLOOK 13th
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2011
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