LONG TERM COMMODITY REPORT

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Date: December 11, 2010 Time 01:00 pm

CRUDE OIL
Crude oil weekly chart on MCX has given upside breakout last week after one year range bound
trading. We are expecting to crude oil to continue rally and oil may touch the Rs 4400/bbl levels in
coming months.

We have experienced choppy trading in current week but it has managed to close above the half of
the last week candle, which is good signal indicating that oil prices are still firm.

RSI (14) is 60 indicating sideways movements and MACD line resting above the zero line signaling
bullishness in the crude oil.

Call: BUY at Rs 3950, Target Rs 4400 with Stop of Rs 3800

Time horizon: Target may achieved by Mar 2011

Weekly chart of Crude oil on MCX:

COPPER
Copper weekly chart has formed the cup and handle chart pattern and given upside breakout, we are
expecting copper to continue rally targeting Rs 460/kg. We have noticed that copper has been trading in
narrow trend channel from June 2010 and expect to either continue it or give upside breakout.

Copper has formed two weekly bullish candle and we are expecting to form successive third candle before it
gives any correction. It has got good support at Rs 400 which was acted as resistance during last month.

RSI (14) is 71 indicating slightly overbought condition, MACD line resting above the zero line signaling
bullishness. 100 DMA Line crossing above the 200 DMA indicating metal will make further upward move in
coming days.

Call: BUY at Rs 411, Target Rs 460 with Stop of Rs 395

LEAD
We are expecting lead to touch Rs 122 levels in coming weeks.Lead weekly chart has formed inverted
head and shoulder pattern and given pullback after the breakout, which will be good opportunity to
enter .It has taken support of neckline at 103 and started bouncing back .

Presently lead is trading above 50DMA,100DMA and 200DMA indicating the strong bullishness. RSI (14)
is 57 signaling sideways condition and MACD line crossing above zero line indicates rally may start
soon.

Target price= 70% of the height of pattern= Rs 122

Time horizon= lead may touch 122 by the end of Jan, 2011.

Call: BUY LEAD at 108, Target Rs 122 with Stop Rs 103.

ZINC
We are expecting zinc to continue rally after the 50% correction of last seven months rally. Zinc has managed to
close above the Bollinger Band Median (20 WMA) signaling continuation of rally. On weekly chart last week
candle has formed bullish engulfing candlestick pattern which is now confirmed by present week bullish candle
signaling correction phase is over.

RSI (14) is 52 indicating sideways movement, MACD line residing above zero line signaling bullishness.
We are seeing zinc prices to touch Rs 123 level which is also 2010’s high by Mar 2011.

Call: BUY at Rs 102, Target Rs 123 with Stop Rs 95

Contact us
Phone 080-267999329, 080-26697005

#369, Sarathi Arcade, 30th Main, 13th cross, C.T. Bed Extension, Attimabee Road,
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