DAILY COMMODITY OUTLOOK

28 Sep, 11

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NCDEX PEPPER OCT. CONTRACT OPEN `34750

HIGH

`36150

LOW

`34700

CLOSE

`35735

NCDEX PEPPER OCT Contract Technical Outlook & Trading Strategy The price of Pepper is currently in a strong uptrend. The prices witnessed a slight correction since it registered a high of `37190 levels as on 22nd Sep, 2011. As outlined in the chart above the price gave a smart bounce from the 23.6% Fibonacci retracement levels. The formation of the 2 bar bullish reversal pattern also confirms that the prices might have completed the pullback and likely to continue with their uptrend. Apart from the Fibonacci retracement support the key moving average clusters are also providing good support for the prices of pepper. A move past the `36200 levels will see the prices of pepper move towards its recent swing highs or even surpass those levels.

We recommend traders to buy above `36200 levels with a stop loss placed below `35597 levels for upside targets of `37190 / `37400 levels.

DAILY COMMODITY OUTLOOK

COMMODITIES TO WATCH

28 Sep, 11

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NCDEX Jeera Oct CMP`15354.00

Technical Outlook & Trading Strategy:-

The price of Jeera has been on a decline since it registered a high of `17729 levels as on 26th Jul, 2011. But the key point to be noted is that the price action of Jeera over the past couple of sessions has formed a two bar bullish reversal pattern on the daily charts. This could see the price of Jeera testing levels of `15650 levels in a span of 12 sessions of trade. We recommend day / positional traders to take long positions between `15390--`15330 levels with a stop loss placed below `15207 levels for upside targets of `15525 / `15650 levels.

INVENTORY DATA

LME Warehouse Stocks (Inventory) and Volume

27 Sep 2011 METALS

Inventory MT 4,578,225 134,900 150,980 467,400 374,225 97,458 21,295 826,900 +/-5,575 1,980 -120 3,825 425 318 -110 -1,600

Volume MT 6,250,775 25,280 124,460 5,408,075 1,357,775 241,290 41,455 2,862,300 +/-4,262,125 -12,500 46,580 -518,050 -43,950 -154,608 -2,030 100,150

Aluminum Al Alloy NASAAC Copper Lead Nickel Tin Zinc

KEY SUPPORT RESISTANCE LEVELS

Commodity NCDEX Chana NCDEX Pepper NCDEX Soya Oil NCDEX Jeera NCDEX Guarseed MCX Copper MCX Nickel Support 1 3611 34907 634 15231 4621 367 911 Support 2 3560 34078 633 15108 4585 358 893 CLOSE-PRICE 3661 35735 635.90 15354 4658 375.80 928.70 Resistance 1 3691 36357 638 15451 4689 383 942 Resistance - 2 3720 36978 639 15548 4721 389 955

DAILY COMMODITY OUTLOOK

MCX Lead MCX Silver MCX Gold MCX Crude 97 51681 25954 4048 93 50373 25720 3981 100.35 52989 26187 4114 103 55111 26549 4155 105 57233 26910 4195

28 Sep, 11

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