DAILY COMMODITY OUTLOOK

16th Dec 2011

Market Review & Outlook

Precious Metals
Both the precious metals continued their fall for the second straight session of trade. As mentioned in our previous note gold prices achieved both the downside targets of `27650 and `27300 levels during yesterdays session. Silver prices too, achieved its initial downside target of `52680 levels. Silver can test levels of `51500 to `51000 levels on the downside. On the other hand, `27300--`27000 are strong support zones for gold prices.

Base Metals & Energy

The base metals opened the session with a negative gap and continued to trade weak as the session progressed. Base metals like copper, lead and zinc traded with cuts of close to 2% during the days trade. Nickel recovered from its intraday lows and closed the session with marginal gains. Nickel is likely to outperform the metals pack as and when all the metals witness a pullback from lower levels. Crude oil remained extremely weak and under selling pressure throughout yesterdays session. It closed the session with a cut of close to 3%. With the sharp fall witnessed over the past few sessions, crude oil has now approached its support clusters. Thus crude can traded in a narrow range over the upcoming few sessions before making its next major move.

DAILY COMMODITY OUTLOOK

16th Dec 2011

Strategy/Recommendations
MCX Gold Feb `27531.00
Traders can look to go short on rise between `27740--`27825 levels with a stoploss placed above `27907 levels for downside targets of `27600 / `27475 levels.

MCX Natural Gas Dec `168.90

Traders can look to go short between `168.50--`169.50 levels with a stoploss placed above `172.20 levels for downside targets of ` 165 / ` 163 levels.

DAILY COMMODITY OUTLOOK

16th Dec 2011

Morning Technical Levels for Metals and Energy Commodity Exchange Contract Trend S2 S1 LTP R1 R2

Gold Spot Gold Silver Spot Silver LME Copper Copper Zinc Lead Aluminium Nickel Crude oil Crude Natural Gas

MCX MCX

FEB MAR

MCX MCX MCX MCX MCX MCX NYMEX MCX

FEB DEC DEC DEC DEC Dec Dec

Bullions Down 26,853 Down 1546 Down 51,457 Down 27.71 Base Metals Sideways 3.1833 Sideways 381.7 Down 97.27 Down 102.8 Sideways 104.7 UP 930.9 Energy Sideways 4,907 Sideways 91.68 Down 164.4

27,192 27,531 27,965 28,399 1562 1578.35 1596 1613 52,531 53,604 54,463 55,321 28.55 29.40 29.82 30.25 3.2291 386.20 98.48 104.27 105.42 946.67 4,971 92.65 166.67 3.2748 3.3248 3.3747 390.7 396.9 403 99.7 101.3 102.9 105.7 107.8 109.9 106.15 107.1 108.1 962.4 971.6 980.7 5,036 93.62 168.9 5,150 95.27 171.6 5,265 96.92 174.2

DAILY COMMODITY OUTLOOK

16th Dec 2011

Agricultural Commodities
Strategy/Recommendations
MCX Menthaoil Dec `1296.40
Traders can go short between `1295--`1305 levels with a stoploss placed above `1318.40 levels for downside targets of `1280 / `1260 levels.

DAILY COMMODITY OUTLOOK

16th Dec 2011

Morning Technical Levels for Agri - Commodities

Commodity Exchange Contract Trend S2 S1 LTP R1 R2

Jeera Pepper Turmeric Chilli Coriander Soybean Mustard Seed Ref Soya Oil CPO Castor Seed Guar Seed Guar Gum Chana Sugar Sugar Kapas Cotton Oilseed Cake Gur Potato Menthaoil Wheat Maize

NCDEX NCDEX NCDEX NCDEX NCDEX NCDEX NCDEX NCDEX NCDEX NCDEX NCDEX NCDEX NCDEX NCDEX NCDEX NCDEX NCDEX NCDEX NCDEX MCX NCDEX NCDEX

Dec Dec Dec Dec Dec

Dec Dec Dec Dec Dec

Dec Dec Dec Dec Dec

Apr Jan
Dec

Spice Complex UP 13459 UP 36412 UP 4270 DOWN 6432 3775 Oilseed Complex UP 2264 UP 3297 UP 655 Sideways 172 Sideways 3941 Others UP 6376 UP 20891 UP 3123 UP 2793 UP 970 Sideways 701 Sideways 1160 UP DOWN Sideways Sideways Sideways 1022 552 1265 1134 1109

13625 13790.00 36663 36915.00 4348 4426.00 6550 6668.00 3873 3972.00 2288 3356 658 344 3991 2312.50 3416.00 661.90 515.65 4040.50

14072 37183 4582 6734 4087 2358 3470 669 344 4130 6596 21362 3211 2885 1939 711 1196 1040 558 1318 1151 1129

14353 37452 4738 6800 4203 2404 3525 675 172 4219 6640 21457 3249 2927 970 715 1212 1046 560 1339 1158 1139

6464 6552.00 21079 21268.00 3148 3173.00 2818 2842.00 1939 2909.00 704 707.30 1170 1181.00 1028 554 1281 1139 1114 1034.00 555.50 1296.40 1145.00 1119.50

Apr Dec
Dec Dec

DAILY COMMODITY OUTLOOK

16th Dec 2011

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