daily commodity update 20-12-2011

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DAILY COMMODITY OUTLOOK 20th

Dec

2011

Market Review & Outlook

Precious Metals

It was a flat day of trade for Gold & silver. Gold closed the session on an

extrem ely flat not e whereas silver prices closed wit h a cut of close to 1%. The

`27400--`27000 levels are strong support zones for gold prices. On the

upside, `28300—`28600 levels will act as supply zone for gold prices. Silver

prices can witness a pullback from lower levels and rally towards the `54000

levels. But, the overall bias in both the precious m etals rem ains bearish.

Base Metals & Energy

The base metals pack except nickel traded in the negative territory

throughout the day’s trade. Base metals like Copper, lead and zinc traded

with losses of close to 1% during yesterday’s session. Nickel continues to

show strength and hence remains the only base metal that remains a buy on

dips. The base metals are likely to witness a pullback as they have been

correcting over the past 4-5 sessions of trade.

Crude oil had a flat session of t rade. Crude oil can t rade in t his mode for some

m ore session of trade before making it s next m ajor move.




Dec

2011

Strategy/Recommendations

MCX Nickel Dec ` 980.00

Traders can look to go long betw een ` 980--` 974 levels with a stoploss placedbelow ` 964.60 levels for targets of ` 992 / ` 1009 levels.




Dec

2011

Morning Technical Levels for Metals and Energy

Commodity Exchange Contract Trend S2 S1 LTP R1 R2

Bullions

Gold MCX FEB Down 27,367 27,530 27,692 27,825 27,957

Spot Gold Down 1572 1584 1596.05 1609 1623

Silver MCX MAR Down 52,112 52,537 52,961 53,393 53,824

Spot Silver Down 28.00 28.36 28.73 29.41 30.10

Base Metals

LME Copper Sideways 3.2175 3.2628 3.3080 3.3528 3.3975

Copper MCX FEB Sideways 384.8 387.90 391.05 393.5 395.9

Zinc MCX DEC Down 96.83 97.52 98.2 99.17 100.1

Lead MCX DEC Down 101.3 102.12 102.95 103.9 104.8

Aluminium MCX DEC Sideways 102.8 103.57 104.35 105.5 106.7

Nickel MCX DEC UP 955.5 967.77 980 989.8 999.5

Energy

Crude oil MCX Dec Sideways 4,874 4,928 4,983 5,020 5,058

Crude NYMEX Sideways 92.07 93.23 94.39 95.09 95.79

Natural Gas MCX Dec Down 161.2 163.37 165.5 166.8 168




Dec

2011

Strategy/Recommendations

NCDEX Pepper Jan ` 35630.00

Traders can go on a break above `35950 levels with a stoploss placed below `35411

levels for upside targets of ` 36500 / ` 36750 levels.

Agricultural Commodities




Dec

2011

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daily commodity update 20-12-2011

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