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     Agri Buzz: USDA Projects US Wheat Supplies To Witness Sharp Decline In
     2011-12: 

     Projected U.S. wheat ending stocks for 2011/12 are raised 76 million bushels as
     lower expected domestic use and exports more than offset reduced production.
     Production is lowered 69 million bushels, mostly reflecting lower spring wheat
     output as estimated in the September 30. With tighter domestic supplies and an        TODAYS MARKETS
     increase in production in Canada, U.S. imports are raised 10 million bushels, 5
     million bushels each for Durum and Hard Red Spring (HRS) wheat. Domestic use                       SENSEX
     is lowered 84 million bushels with seed use reduced 4 million bushels on lower
     planted area and feed and residual use projected 80 million bushels lower on          LTP          17003.49
     indications from the September 1 stocks.
                                                                                           Chg.           +45.10
     Despite competitive wheat prices relative to corn for feeders in many areas, wheat
     feed and residual use during June-August is indicated 53 million bushels lower
                                                                                           %Chg.           +0.27
     than the same quarter last year. All wheat food use for 2011/12 is unchanged;
     however, food use is lowered 15 million bushels for HRS wheat and raised an                          NIFTY
     offsetting amount for Hard Red Winter (HRW) wheat. U.S. exports for 2011/12 are
     projected 50 million bushels lower with HRS reduced 40 million and HRW reduced        LTP           5110.20
     10 million. Tighter spring wheat supplies in the United States boost export           Chg.           +10.80
     prospects for Canada and larger exportable supplies in Australia and strong
     shipments by Russia increase competition in the world market.                         %Chg.           +0.21




      PRE-SESSION
    13-Oct-11 (10:01)                         13-Oct-11 (09:48)
    Agri Buzz: USDA Projects US Wheat         Agri Buzz: China September Edible Oil
    Supplies To Witness Sharp                 Down 11% To 5.70 Lakh                                    BSE SENSEX
                                                                                                         16979.66
    13-Oct-11 (09:52)                         13-Oct-11 (09:47)                                    N      +21.27
    Agri Buzz: China Soyabean September       Agri Buzz: China September Exports Up                O
    Imports Down 11% To 4.13                  77% To 10200 MTs
                                                                                                   R
                                                                                                   E
                                                                                                   C
    BULLION MARKETS - MCX                                                                          O
                                                                                                   R      DJIA
                                 GOLD                                      SILVER                  D    11518.85
                                                                                                   S    +102.55




                                                                                                        FTSE 100
                                                                                                         5441.80
                                                                                                         +46.10


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 MCX GAINERS                                         NCDEX GAINERS
    COMMODITY     EXP DATE        PRICE     %CHG.      COMMODITY          EXP DATE               PRICE     %CHG.
   POTATO          15-Oct-11      392.30     +0.72   MAIZE                20-Dec-11             1,130.50    +4.00
   POTATO          15-Mar-12      644.30     +0.61   MAIZE                18-Nov-11             1,110.00    +3.16
   LEAD            30-Dec-11       99.70     +0.35   MAIZE                 20-Oct-11            1,046.50    +3.00
   SUGARMKOL       20-Dec-11     2,802.00    +0.32   MAIZE                 20-Jan-12            1,160.00    +2.47
   SUGARMKOL       20-Oct-11     2,769.00    +0.22   CASTORSEED           18-Nov-11             4,080.00    +0.72


 MCX LOSERS                                          NCDEX LOSERS
    COMMODITY     EXP DATE        PRICE     %CHG.      COMMODITY          EXP DATE               PRICE     %CHG.
   CPO             30-Nov-11      465.60     -0.17   WHTSMQDELI           18-Nov-11             1,130.00    -0.04
   GOLDPETAL       30-Nov-11     2,711.00    -0.29   CHARJDDEL             20-Oct-11            3,082.00    -0.06
   NATURALGAS      27-Dec-11      195.70     -0.31   CHLL334GTR            20-Oct-11            8,622.00    -0.12
   NATURALGAS      25-Nov-11      187.10     -0.32   RMSEED                20-Jan-12            2,952.00    -0.17
   CPO             31-Oct-11      465.60     -0.32   CHARJDDEL             20-Jan-12            3,430.00    -0.17


 COMEX PRICES                                        MCX FUTURES
    COMMODITY              LTP      CHG     CHG%.      COMMODITY       CLOSE       CHG%.       VOLUMES        OI
                                                     ALUMINIUM         109.00          +0.41       5,076    1,761
                                                     COPPER            368.75          +2.30    156,324    23,798
                                                     CRUDEOIL         4,206.00         -0.80    186,811    20,435
                                                     GOLD            26,864.00         +0.75      43,411   11,405
                                                     NICKEL            937.10          +0.68      56,057    7,448
                                                     SILVER          54,162.00         +1.68      71,512   13,190
                                                     ZINC               95.15          +1.44      22,731    3,597

 CURRENCY WATCH                                      INDIAN INDICES
                   CLOSE         CHG        CHG%       INDICES                     13-OCT          CHG.    %CHG.
   USD/INR           48.96       -0.37       -0.75    SENSEX                     17,003.49         45.10    +0.27
   EUR/USD               1.38     0.02       +1.27    NIFTY                       5,110.20         10.80    +0.21
   GBP/USD               1.57     0.02       +1.22    BSE 500                     6,552.69         20.05    +0.31
   USD/JPY           77.71        0.64       +0.83    NIFTY JUNIOR                9,914.60         45.40    +0.46
   EUR/INR           67.47        0.34       +0.51
   GBP/INR           77.06        0.35       +0.46
   JPY/INR               0.63    -0.01       -1.56




www.danisecurities.com                                                                                        Page 2
                                                                                          


                                    RECOMMENDATION

                         MCX GOLD
                                    International

                                    Major Support at USD1450.
                                    Bullish till USD1850.

                                    Domestic

                                    Trading Range 25,900- 27,100




                     MCX SILVER      
                                    International

                                    Major Support at USD33.
                                    Bullish above USD40.

                                    Domestic

                                    Buy at 53,500 stop loss 53,100 target 54,000.




                    MCX COPPER       
                                    International

                                    Major Resisatnce at LME 9600.
                                    Bullish above LME 9000.

                                    Domestic

                                    Sell below 360 stop loss 363 target 355.




www.danisecurities.com                                                              Page 3
                                                                                              


                                    RECOMMENDATION

                  MCX CRUDE OIL
                                    International

                                    Major Support for WTI at USD70.
                                    Can consolidate between USD 75- USD 70.

                                    Domestic

                                    Positional Call- Sell between 4,160-4,180 stop loss
                                    4,250 target 4,080.




                         MCX ZINC    
                                    Domestic

                                    Sell on rise bet 94.50-95 stop loss 96 target 93.50-93




                     MCX NICKEL      
                                    International

                                    Major Resistance at LME 25600.

                                    Domestic

                                    Weak below 925.




www.danisecurities.com                                                              Page 4
                                                                                        


                                  RECOMMENDATION

               MCX NATURAL GAS
                                  International

                                  Trading Range between USD 3.50 -USD 4.80. Bullish
                                  above USD 4.80.

                                  Domestic

                                  -




                    NCDEX GOLD     
                                  International

                                  Major Support at USD1450.
                                  Bullish till USD1850.

                                  Domestic

                                  Trading Range 25,900- 27,100




                   NCDEX SILVER    
                                  International

                                  Major Support at USD33.
                                  Bullish above USD40.

                                  Domestic

                                  Buy at 53,500 stop loss 53,100 target 54,000.




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                                  RECOMMENDATION

                  NCDEX COPPER
                                  International

                                  Major Resisatnce at LME 9600.
                                  Bullish above LME 9000.

                                  Domestic

                                  Sell below 360 stop loss 363 target 355.




                 NCDEX CRUDEOIL    
                                  International

                                  Major Support for WTI at USD96.
                                  Bullish till USD108.

                                  Domestic

                                  Positional Call- Sell between 4,160-4,180 stop loss
                                  4,250 target 4,080.




                   NCDEX CHANA     
                                  Domestic

                                  Buy above 3,200 stop loss 3,000 target 3,400




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                                   RECOMMENDATION

            NCDEX CHILLI 334 GTR
                                   Domestic

                                   Buy above 8,300 stop loss 8,000 target 8,700.




                   NCDEX PEPPER     
                                   Domestic

                                   Buy above 36,600 stop loss 35,600 target 38,000.




          NCDEX WHEAT STD MILL I    
                                   Domestic

                                   Sell below 1,120 stop loss 1,130 target 1,110-1,100.




www.danisecurities.com                                                             Page 7
                                                                                          


                                   RECOMMENDATION

                  NCDEX SOYABEAN
                                   Domestic

                                   Buy above 2,100 stop loss 2,050 target 2,160-2,200.




          NCDEX REFINED SOYA OIL    
                                   Domestic

                                   Buy above 600 stop loss 590 target 615.




                    NCDEX JEERA     
                                   Domestic

                                   Buy above 14,950 stop loss 14,650 target 15,300.




www.danisecurities.com                                                           Page 8
                                                                                      


                                  RECOMMENDATION

                  NCDEX POTATO
                                  Domestic

                                  Bullish above 360 on a closing basis.




               NCDEX GUAR SEEDS    
                                  Domestic

                                  Buy on dips bet 4,400 - 4,300 stop loss 4,100 target
                                  4,600-4,650.




                NCDEX GUAR GUM
                                  Domestic

                                  -




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MCX TECHNICALS
   COMMODITY     CONTRACT          S1         S2    CLOSE      CHG%          R1         R2         PP EST.HIGH EST.LOW
  ALUMINIUM       31-Oct-11    108.23     107.47     109.00    +0.41     109.83     110.67     109.07     109.84     108.24
  COPPER          30-Nov-11    363.43     358.12     368.75    +2.30     372.53     376.32     367.22     371.02     361.92
  CRUDEOIL        19-Oct-11   4,177.00   4,148.00   4,206.00    -0.80   4,239.00   4,272.00   4,210.00   4,250.60   4,188.60
  GOLD            05-Dec-11 26,737.33 26,610.67 26,864.00      +0.75 26,999.33 27,134.67 26,872.67 26,945.20 26,683.20
  GOLDM           05-Nov-11 26,540.00 26,370.00 26,710.00      +0.72 26,860.00 27,010.00 26,690.00 26,800.00 26,480.00
  LEAD            31-Oct-11     98.25      96.60      99.90    +2.51     101.15     102.40      99.50     100.65      97.75
  NATURALGAS      25-Oct-11    170.13     167.47     172.80     -2.87    177.43     182.07     174.77     177.78     170.48
  NICKEL          31-Oct-11    929.87     922.63     937.10    +0.68     946.67     956.23     939.43     943.36     926.56
  SILVER          05-Dec-11 53,496.67 52,831.33 54,162.00      +1.68 54,662.67 55,163.33 53,997.33 54,509.60 53,343.60
  ZINC            31-Oct-11     94.03      92.92      95.15    +1.44      96.18      97.22      95.07      95.77      93.62


NCDEX TECHNICALS
   COMMODITY     CONTRACT          S1         S2     CLOSE     CHG%          R1         R2         PP EST.HIGH EST.LOW
  BARLEYJPR       20-Oct-11   1,094.93   1,088.27   1,101.60   +0.20    1,106.53   1,111.47   1,099.87   1,107.68   1,096.08
  CASTORSEED      18-Nov-11   4,010.67   3,970.33   4,051.00    -0.27   4,075.67   4,100.33   4,035.33   4,091.80   4,026.80
  CHARJDDEL       18-Nov-11   3,186.67   3,139.33   3,234.00   +1.60    3,269.67   3,305.33   3,222.33   3,263.00   3,180.00
  CHLL334GTR      20-Oct-11   8,566.00   8,500.00   8,632.00    -1.15   8,734.00   8,836.00   8,668.00   8,760.40   8,592.40
  COCUDAKL        20-Dec-11   1,137.67   1,121.33   1,154.00   +2.30    1,163.67   1,173.33   1,147.33   1,159.80   1,133.80
  DHANIYA         18-Nov-11   5,375.67   5,288.33   5,463.00   +2.55    5,514.67   5,566.33   5,427.33   5,498.00   5,359.00
  GARGUMJDR       18-Nov-11 12,997.67 12,804.33 13,191.00       -1.79 13,491.67 13,792.33 13,298.33 13,569.00 13,075.00
  GARSEDJDR       20-Oct-11   4,454.67   4,347.33   4,562.00    -2.98   4,734.67   4,907.33   4,627.33   4,749.20   4,469.20
  GURCHMUZR       18-Nov-11    953.00     942.50     963.50     -0.72    975.50     987.50     965.00     979.30     956.80
  JEERAUNJHA      18-Nov-11 14,775.67 14,664.33 14,887.00      +0.80 14,982.67 15,078.33 14,871.33 14,944.40 14,737.40
  KAPASSRNR       30-Apr-12    742.73     735.47     750.00    +1.96     754.53     759.07     747.27     752.72     740.92
  MAIZE           18-Nov-11   1,055.33   1,034.67   1,076.00   +4.01    1,086.33   1,096.67   1,065.67   1,082.20   1,051.20
  POTATO          20-Mar-12    585.90     581.40     590.40     -0.20    596.80     603.20     592.30     598.60     587.70
  PPRMLGKOC       18-Nov-11 36,906.67 36,678.33 37,135.00       -1.07 37,471.67 37,808.33 37,243.33 37,551.00 36,986.00
  RMSEED          18-Nov-11   2,850.67   2,823.33   2,878.00   +1.34    2,903.67   2,929.33   2,876.33   2,893.40   2,840.40
  SUGARM200       20-Oct-11   2,743.00   2,738.00   2,748.00   +0.18    2,752.00   2,756.00   2,747.00   2,751.20   2,742.20
  SYBEANIDR       18-Nov-11   2,122.33   2,098.17   2,146.50   +2.36    2,160.33   2,174.17   2,136.17   2,154.80   2,116.80
  SYOREFIDR       18-Nov-11    593.68     587.52     599.85    +1.78     604.48     609.12     598.32     602.63     591.83
  TMCFGRNZM       18-Nov-11   5,161.33   4,978.67   5,344.00   +0.53    5,475.33   5,606.67   5,292.67   5,462.80   5,148.80
  WHTSMQDELI      20-Oct-11   1,104.33   1,100.67   1,108.00   +0.31    1,112.33   1,116.67   1,108.67   1,110.60   1,102.60




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CFTC As on 04-Oct-2011
                           NON-COMMERCIAL                    COMMERCIAL                       NON-REPORTABLE
                  NET POSITION       WKLY NET CHG.     NET POSTION    WKLY NET CHG.      NET POSTION     WKLY NET CHG.
  Gold                      133156              5355        -164751            1932             31595            -7287
  Silver                     11900           -3525           -18923            5339              7023            -1814
  Copper                     -3418           -1956            9323              768             -5905             1188
  Crude Oil                 108164          -29522          -114385           24666              6221             4856



ECONOMIC INDICATORS
   INDICATOR                                               DATE        ACTUAL FORECAST          PREV           IMPACT
  Trade Balance                                           13-Oct-11               -$46.0B      -$44.8B         Medium
  Initial Jobless Claims                                  13-Oct-11                   405K                        Low
  Fed's Kocherlakota Speaks in Sidney Montana             13-Oct-11                                               Low
  DOE U.S. Gasoline Inventories                           13-Oct-11                            -1137K             Low
  DOE U.S. Distillate Inventory                           13-Oct-11                             -744K             Low
  DOE U.S. Crude Oil Inventories                          13-Oct-11                            -4679K             Low
  DOE Cushing OK Crude Inventory                          13-Oct-11                             -831K             Low
  Continuing Claims                                       13-Oct-11                   3710K                       Low
  Bloomberg Consumer Comfort                              13-Oct-11                              -50.2            Low




www.danisecurities.com                                                                                           Page 11
   Disclaimer

   CA- Kaushal Jaini
   Contact No: 61397214
   kaushal.jaini@danisecurities.com

   CFA- Pinky Chandnani
   Contact No: 61397224
   pinky.chandnani@danisecurities.com  

   Devashish Srivastava
   Contact No: 61397224
   devashish.shrivastav@danisecurities.com

    

    

   This report is distributed for information purpose only. The information in this report does not constitute an
   offer to sell or solicitation of an offer to buy any of the securities mentioned in the report. The readers may
   note that neither Dani Commodities Pvt. Ltd (DCPL) nor its analysts or employees take any responsibility,
   financial or otherwise, due to any transaction undertaken or any action based on the information contained
   herein. DCPL reserves the right to make modifications and alterations to this statement as may be required
   from time to time.




www.danisecurities.com                                                                                        Page 12

				
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