DAILY TRADING NOTE (27th January 2012)
Market Review & Outlook
Precious Metals
Gold opened the session on a flat note and registered an intraday low of `27170 levels and
rallied smartly from these levels to an intraday high of `27655 levels and finally closed the
session at `27589 levels. On the upside `27650 is stiff resistance for gold in the near term.
Closed above the same will see the gold all the way head towards `27800 – `27900 levels.
Silver witnessed a strong rally on Wednesday’s session from its intraday low of `54671
levels to an intraday high of `56585 levels and finally closed the session at `56411 levels.
Silver closed the session above its long term moving average placed at `56262 levels on
the daily chart. Sustenance above the same will see the silver price head towards `57400
– `57700 levels.
Base Metals & Energy
Zinc rallied smartly on Wednesday’s session from its intraday low of `104.95 levels and
closed the session at `107.70 levels. Zinc has closed the session above its resistance of
`106 – `106.50 levels on the daily chart and likely to trade with a positive bias for an
upcoming few trading sessions and head towards `110 – `111 levels. Aluminium, Lead
and Nickel is also closed the session on a positive note.
Crude oil opened the session on a flat note and corrected to an intraday low of `4922 level
and recovered smartly from these levels and finally closed the session at `4992 levels. On
the upside crude oil is likely to face stiff resistance at `5020 – `5030 levels. Sustenance
above the same will see the crude oil price consolidating between `5030 - `5080 levels.
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Strategy/Recommendations
MCX ALUMINIUM JAN `110.80
MCX LEAD `112.35
Traders can go long at current levels with a stop loss placed below `110.25 levels for
upside targets of ` 115 / ` 116 levels.
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Morning Technical Levels for Metals and Energy
Commodity Exchange Contract Trend S2 S1 LTP R1 R2
Bullions
Gold MCX FEB Sideways 27288 26986 27589 27773 27956
Silver MCX MAR Up 55193 53975 56411 57107 57803
Base Metals
Copper MCX FEB Up 420 416 423.15 426 429
Zinc MCX Jan Up 106 104 107.7 109 110
Lead MCX Jan Up 111 109 112.45 114 115
Aluminum MCX Jan Sideways 110 110 111.1 112 112
Nickel MCX Jan UP 1031 1017 1044.5 1053 1062
Energy
Crude oil MCX Jan Down 4940 4889 4992 5025 5059
Natural Gas MCX FEB Down 134 130 137.7 141 145
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Agricultural Commodities
Strategy /Recommendations
NCDEX PEPPER FEB `32025.00
Traders can short below 31950 levels with a stop loss placed above `32510 levels for
downside targets of ` 31300/ `31150 levels.
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Morning Technical Levels for Agri - Commodities
Commodity Exchange Contract Trend S2 S1 LTP R1 R2
Spice Complex
Jeera NCDEX Feb Up 15523 15675 15828 15985 16143
Pepper NCDEX Feb Sideways 31618 31842 32065 32387 32708
Turmeric NCDEX Apr Sideways 4553 4577 4600 4627 4653
Chilli NCDEX Feb Up 6209 6275 6342 6433 6525
Coriander NCDEX Feb Sideways 4103 4181 4259 4338 4417
Oilseed Complex
Soybean NCDEX Feb Sideways 2521 2532 243.5 2554 2565
Mustard Seed NCDEX Feb Down 3344 3365 3385 3407 3428
Ref Soya Oil NCDEX Feb Sideways 701 705 707.6 710 713
Castor Seed NCDEX Feb Down 3499 3548 3597 3648 3699
Others
Guar Seed NCDEX Feb Up 11184 11613 12042 12348 12654
Guar Gum NCDEX Feb Up 37040 38323 39605 40515 41424
Chana NCDEX Feb Down 3110 3132 3154 3186 3218
Sugar NCDEX Feb Down 2822 2831 2841 2849 2858
Kapas NCDEX Apr Down 896 911 926.5 950 973
Cotton Oilseed NCDEX Feb Down 1275 1289 1303 1320 1337
Cake
Gur NCDEX Mar Sideways 1067 1077 1087.5 1096 1105
Potato NCDEX Mar Sideways 688 697 706.6 715 723
Menthaoil MCX Feb Down 1439 1471 1504.1 1520 1537
Wheat NCDEX Feb Sideways 1246 1250 1254 1258 1262
Maize NCDEX Feb Sideways 1241 1248 1254.5 1259 1264
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