DAILY COMMODITY OUTLOOK

21st Dec 2011

Market Review & Outlook

Precious Metals
The precious metals traded in the positive territory for the major part of yesterdays session. Both, gold and silver closed the session with a gain of close to 1%. The current pullback in gold can see it test the `28300--`28500 levels over the upcoming sessions of trade. Thus the `27000/`27250-`28300/`28500 levels will be the broad trading range for gold over the near term to short term time frame. On the other hand, silver too is likely to test the `54000--`54500 levels on the upside.

Base Metals & Energy

The base metals opened the session on a weak note but recovered their intraday losses and moved into the green territory as the day progressed. The gains increased on the back of positive cues from the Europe & US markets. As we had pointed out in our previous few trading notes, Nickel continued to outperform the metals pack as it closed the session with a gain of close to 2%. Crude oil recovered from its recent swing lows and closed the session with a gain of over 2%. Sustenance above `5125 levels will see crude oil continuing this upside momentum and thus test levels of `5200 over the upcoming sessions of this week.

DAILY COMMODITY OUTLOOK

21st Dec 2011

Strategy/Recommendations
MCX Aluminium Dec `105.55
Traders can look to go long between `105.80--`105.25 levels with a stoploss placed below `104.40 levels for targets of `106.85 / `107.50 levels.

MCX Crude Jan `5153.00

Traders can look to go long on dips between `5110--`5080 levels with a stoploss placed below `5039 levels for targets of `5170 / `5200 levels.

DAILY COMMODITY OUTLOOK

21st 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 JAN Dec

Bullions Down 27,555 Down 1587 Down 52,239 Down 28.43 Base Metals Sideways 3.2459 Sideways 385.5 Down 97.33 Down 101.4 Sideways 103.9 UP 963.2 Energy Sideways 4,954 Sideways 99.84 Down 162.1

27,711 27,867 27,964 28,061 1604 1620.45 1629 1637 52,863 53,487 53,843 54,199 29.00 29.57 29.88 30.19 3.3109 390.93 98.07 102.38 104.70 980.70 5,053 98.73 163.23 3.3760 3.4154 3.4549 396.35 400.1 403.8 98.8 99.52 100.2 103.4 104.6 105.8 105.55 106.2 106.9 998.2 1010 1022 5,153 97.63 164.4 5,211 95.42 166.3 5,270 93.22 168.3

Agricultural Commodities

DAILY COMMODITY OUTLOOK

21st Dec 2011

Strategy/Recommendations
NCDEX Chana Jan `3380.00
Traders can go short between `3370--`3400 levels with a stoploss placed above `3437 levels for downside targets of `3260 / `3225 levels.

MCX Menthaoil Dec `1295.30

Traders can go short on a break below `1289 levels with a stoploss placed above `1308.10 levels for downside targets of `1270 / `1255 levels.

DAILY COMMODITY OUTLOOK

21st 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

JAN JAN MAY FEB JAN

JAN JAN JAN DEC JAN

JAN JAN JAN JAN DEC

Apr Jan Jan Apr Dec Jan Jan

Spice Complex UP 14325 UP 35077 UP 4306 DOWN 6258 DOWN 3814 Oilseed Complex UP 2410 UP 3400 UP 676 Sideways 172 Sideways 3798 Others UP 6548 UP 21109 UP 3331 UP 2849 UP 952 UP 743 Sideways 1159 UP DOWN DOWN Sideways Sideways 1074 554 1276 1174 1162

14527 14729.00 35263 35450.00 4348 4390.00 6326 6394.00 3922 4031.00 2420 3415 679 345 3850 2430.50 3431.00 681.10 516.80 3902.00

14974 35678 4434 6488 4107 2447 3456 685 345 3984 6809 22065 3414 2893 1904 779 1220 1089 576 1313 1205 1189

15219 35907 4478 6582 4184 2464 3482 689 172 4065 6862 22257 3449 2903 952 795 1247 1094 582 1330 1218 1200

6652 6757.00 21491 21874.00 3355 3380.00 2866 2882.00 1904 2856.00 753 762.00 1176 1192.00 1079 562 1285 1183 1170 1083.00 569.80 1295.30 1193.00 1177.50

DAILY COMMODITY OUTLOOK

21st Dec 2011

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