Daily Commodity Market Update as on Tuesday, May 10, 2011

PRECIOUS METALS COMPLEX

NAME OPEN HIGH LOW CLOSE % CNG

MCX
GOLD 21930 22080 21917 21880 0.55
Gold and silver rose sharply driven by resurgent inflation
SILVER 55305 57770 54461 54919 3.83
concerns after oil and grains prices rallied, and as a
SPOT $
ratings downgrade of Greece boosted safe-haven buying.
GOLD 1508.8 1512.85 1507.6 1511.65 0
SILVER 37.69 37.91 37.33 37.7 0.29
PLATINUM 1790.99 1801 1784.75 1797.25 0.32

ENERGY COMPLEX

NAME OPEN HIGH LOW CLOSE % CNG

Crude rose as the dollar's weakness helped oil rebound
MCX
after a dramatic five-session fall. Saudi Arabia will keep
CRUDE 4420 4575 4407 4541 2.75 crude oil supplies in June unchanged from May, amid
N.GAS 192.5 193.4 186.2 192.6 -2.94 volatile prices and ahead of an OPEC meeting in June to
review the producer group's supply policy. Natural gas
SPOT $ turned lower as market participants bet that mild weather
in the coming weeks would curb demand for the heating
CRUDE 98.11 103.40 97.42 102.55 4.525533
and power-plant fuel.

BASEMETAL COMPLEX

NAME OPEN HIGH LOW CLOSE % CNG

MCX Base metal yesterday traded in the range and ended
COPPER 400.9 406.45 400.25 399.9 0.52 mixed. Copper gained more in all metals buoyed by
ZINC 97.4 97.9 96.2 96.8 0.31 investors looking to purchase copper at reduced prices in
NICKEL 1115 1127.4 1092.6 1110.9 -0.57 the wake of last week's declines. While lead and nickel
105.75 105.85 103.35 104.75 -1.06 ended in red territory.
LEAD
ALUMINIUM 117.3 117.65 115.65 116.7 0

LME LME STOCK

COPPER 8932 8970.25 8835.5 8888.75 0.79 COPPER 1425 468600
ZINC 2175 2184.75 2155 2176.5 0.37 ZINC -350 823025
NICKEL 24600 2619.75 24500 24600 0.65 NICKEL -372 115872
LEAD 2301.5 2330 2301 2309.5 0.69 LEAD 1025 312475
ALUMINIUM 2616.25 2330 2605 2619 -0.04 ALUMINIUM -3450 4596875

GLOBAL MARKETS UPDATE

SENSEX NIFTY NASDAQ S&P NYSE DOW JON NIKKEI SHICOM KOREA HKFE $ INDEX
18539.38 5548.8 2390.97 1346.29 8478.19 12684.68 9785.22 2881.57 2139.17 23336 74.75
0.06 -0.04 0.33 0.45 0.62 0.36 -0.08 0.32 0 0.76 0.01

Strictly for private circulation www.sharetipsexpert.com Page No. 1

 OPEN
21930
HIGH
22080
MCX GOLD FUTURE

LOW
21917
CLOSE
21880
% CNG
0.55
VOLUME
28370
OI
12867
RE CNG
120

INTRADAY LEVELS
Gold extended gains and settled up by marginally 0.55% at 22000 on a weaker dollar, after suffering
its worst weekly loss since 2009, while U.S. silver futures rose nearly 3 percent as investors took
P.P. 21999
advantage of last week's free fall in prices to enter the market. Precious metals were supported by
softer dollar, which edged down 0.4% against a basket of currencies after hitting a 2-1/2-week high SUP 1 RES 1
on Friday following unexpectedly strong U.S. employment numbers and a media report on the 21918 22081
possibility of Greece quitting euro zone. On this week's data schedule, the US is due to release its SUP 2 RES 2
April consumer price data, which may shed light on the future moves in monetary policy by the
21836 22162
central bank, as market speculation mounts on what the Fed Res might do after the stimulus
package rolls off in June. Now technically market is trading in the range as RSI for 18days is SUP 3 RES 3
currently indicating 53.73, where as 50DMA is at 21511.02 and gold is trading above the same and 21755 22244

OPEN
55305
MCX SILVER FUTURE

HIGH
57770
LOW
54461
CLOSE
54919
% CNG
3.83
VOLUME
108467
OI
14314
RE CNG
2189

INTRADAY LEVELS
Silver rose as much as +3.83% settled at 57108 on MCX and extended gains into a third consecutive
session, aided by growing concerns over Greece's debt crisis. S&P's cut Greece's credit rating further
P.P. 56446
into junk territory, reflecting growing doubts that the euro zone's most fragile economy can manage
its debt without imposing losses on private bond holders. Silver tumbled more than 25% last week, SUP 1 RES 1
triggering a sell-off in commodities, after the CME Group raised margins on COMEX silver by 84% in 55123 58432
just two weeks. Some investors have returned to the market after the sharp fall to hunt for SUP 2 RES 2
bargains. Holdings in the iShares Silver Trust, jumped 3% on the day to 10,253.75 tns, after
53137 59755
suffering an exodus of $1 billion in the week ended last Wednesday. Now technically market is
trading in the range as RSI for 18days is currently indicating 41.44, where as 50DMA is at 60104.86 SUP 3 RES 3
and silver is trading below the same and getting support at 55123 and below could see a test of 51814 61741

Strictly for private circulation www.sharetipsexpert.com Page No. 2

 OPEN
4420
HIGH
MCX CRUDE FUTURE

4575
LOW
4407
CLOSE
4541
% CNG
2.75
VOLUME
142853
OI
9741
RE CNG
125

INTRADAY LEVELS
Crude rose by 2.75% and settled at 4541, as the dollar's weakness helped oil rebound after a
dramatic five-session fall that pulled crude below the $100 a barrel. Strong private sector hiring
P.P. 4508
evident in the U.S. April nonfarm payrolls report released on Friday, along with the dollar's slip,
helped oil prices find support after last week's slide left U.S. crude futures with its biggest ever SUP 1 RES 1
weekly loss, in dollar terms, and the largest in terms of percentage since December 2008. But Crude 4440 4608
prices can tumbled as CM group can raised crude futures margins by 25 percent following volatile SUP 2 RES 2
trading in recent sessions, while Greek woes pulled the euro down to a six-week low against the yen
4340 4676
on Tuesday. Now technically market is trading in the range as RSI for 18days is currently indicating
37.11, where as 50DMA is at 4827.58 and crude is trading below the same and getting support at SUP 3 RES 3
4440 and below could see a test of 4340 level, And resistance is now likely to be seen at 4608, a 4272 4776

OPEN
400.9
MCX COPPER FUTURE

HIGH
406.45
LOW
400.25
CLOSE
399.9
% CNG
0.52
VOLUME
93299
OI
22843
RE CNG
2.1

INTRADAY LEVELS
Copper yesterday traded with the positive node and settled 0.52% up at 402 rebounding from a five-
month low, after Goldman Sachs Group Inc. said commodities may recover from an 11 percent
P.P. 402.9
slump last week. The Standard & Poor’s GSCI Index of 24 raw materials rose as much as 4.1
percent. “Given the magnitude of the pullback, it does create an opportunity for more upside SUP 1 RES 1
potential,” Goldman Sachs said. A month ago, the bank told investors they should be “underweight” 399.4 405.6
in commodities. Copper fell 4.9 percent last week. Copper prices will continue to experience SUP 2 RES 2
fluctuations this week as US economic data to be released this week is expected to remain positive,
396.7 409.1
which will support copper prices. However, China will continue its tightening monetary policy as
inflationary pressures remain high. In yesterday's trading session copper has touched the low of SUP 3 RES 3
400.25 after opening at 400.9, and finally settled at 402. For today's session market is looking to 393.2 411.8

Strictly for private circulation www.sharetipsexpert.com Page No. 3

 OPEN
97.4
HIGH
97.9
MCX ZINC FUTURE

LOW
96.2
CLOSE
96.8
% CNG
0.31
VOLUME
16363
OI
8693
RE CNG
0.3

INTRADAY LEVELS
Zinc yesterday traded with the positive node and settled 0.31% up at 97.1 tracking LME zinc prices
which moved between $2,140-2,200/mt yesterday. Later, Standard & Poor’s cut Greece’s credit P.P. 97.1
rating to B from BB- and kept its outlook negative as investor expectations of a debt restructuring SUP 1 RES 1
continue to rise. As a result, the US dollar index strengthened to 75 in European trading hours,
96.2 97.9
helping limit any gains in LME zinc prices. LME zinc prices failed to break through $2,200/mt after
several attempts, and finally closed at $2,176/mt, up $30/mt. In yesterday's trading session zinc SUP 2 RES 2
has touched the low of 96.2 after opening at 97.4, and finally settled at 97.1. For today's session 95.4 98.8
market is looking to take support at 96.2, a break below could see a test of 95.4 and where as SUP 3 RES 3
resistance is now likely to be seen at 97.9, a move above could see prices testing 98.8.
94.5 99.6

OPEN
1115
MCX NICKEL FUTURE

HIGH
1127
LOW
1093
CLOSE
1110.9
% CNG
-0.57
VOLUME
43913
OI
6626
RE CNG
-6.3

INTRADAY LEVELS
Nickel yesterday traded with the negative node and settled -0.57% down at 1104.6 tracking LME
nickel futures for delivery in three months opened at $24,510/mt and closed at $24,600/mt, up by
P.P. 1108
$100/mt from a day earlier, with the highest price at $25,031/mt and the lowest price at
$24,231/mt. Daily trading volumes were 2,282 lots, down by 2,270 lots. LME base metal prices SUP 1 RES 1
largely ended with gains on Monday, as weakening US dollar and dip-buying supported base metal 1089 1124
prices to rebound. However, downward adjustment of Greek credit rating intensified investors' SUP 2 RES 2
concern over slower economy growth, forcing base metal prices to pare early gains in the evening
1073 1143
trading hours. LME nickel prices largely fluctuated between $24,200-25,000/mt overnight, and
closed with slight gains. For today's session market is looking to take support at 1089, a break below SUP 3 RES 3
could see a test of 1073.4 and where as resistance is now likely to be seen at 1123.8, a move above 1054 1159

Strictly for private circulation www.sharetipsexpert.com Page No. 4

MCX ALUMINIUM FUTURE
OPEN
117.3
HIGH
117.65
LOW
115.65
CLOSE
116.7
% CNG
0
VOLUME
4062
OI
3132
RE CNG
0

INTRADAY LEVELS
Aluminium yesterday traded with the range bound node and settled 0.1% flat at 116.7 as pressure
seen after S&P’s cut Greece’s credit rating to B from BB- and kept its outlook negative as investor
P.P. 116.7
expectations of a debt restructuring continue to rise. Meanwhile, Standard & Poor’s was certain that
no member would withdraw from the Euro zone. LME aluminum prices climbed to USD 2,640/mt in SUP 1 RES 1
Asian trading hours after opening slightly higher at USD 2,612/mt. Later, the weakening euro helped 115.7 117.7
boost the US dollar index, and LME aluminum prices fluctuated lower in response, and later even SUP 2 RES 2
accelerated declines as S&P’s cut Greece’s credit rating. However, crude oil prices held steady above
114.7 118.7
USD 100/bbl at the tail of trading on the NYMEX, helping boost LME aluminum prices, with LME
prices finally closing at USD 2,619/mt, up USD 9/mt. For today's session market is looking to take SUP 3 RES 3
support at 115.7, a break below could see a test of 114.7 and where as resistance is now likely to be 113.7 119.7

OPEN
MCX NAT.GAS FUTURE

192.5
HIGH
193.4
LOW
186.2
CLOSE
192.6
% CNG
-2.94
VOLUME
15909
OI
3842
RE CNG
-5.5

INTRADAY LEVELS
Natural gas yesterday traded with the negative node and settled -2.94% down at 187.1 dropped for
a sixth day, the longest losing streak in a month, on speculation that rising production will outpace
P.P. 188.9
demand. Natural gas for June delivery fell 8.1% to settle at $4.154 per mBtu on the NYMEX, the
lowest settlement price since April 18. The futures have declined 5.7 percent this year. The last time SUP 1 RES 1
gas dropped six straight days was the period starting April 1. New York Weather is below-normal 184.4 191.6
temperatures are likely across most of the eastern half of the U.S. from May 14 through May 18, SUP 2 RES 2
according to Commodity Weather Group LLC in Bethesda, Maryland. The cooler-than-normal weather
181.7 196.1
may reduce air-conditioning use, crimping the demand for gas in power plants. In yesterday's
trading session natural gas has touched the low of 186.2 after opening at 192.5, and finally settled SUP 3 RES 3
at 187.1. For today's session market is looking to take support at 184.4, a break below could see a 177.2 198.8

Strictly for private circulation www.sharetipsexpert.com Page No. 5

 ACTIVE SPREAD UPDATE

DAILY SPREAD IN GOLD - MCX DAILY SPREAD IN SILVER - MCX

MONTH RATE JUNE AUG OCT MONTH RATE JULY SEPT DEC
JUNE 22000 289 664 JULY 57108 658 1179
AUG 22289 375 SEPT 57766 521
OCT 22664 DEC 58287
Spread between Gold JUN & AUG contracts yesterday Spread between Silver JUL & SEP contracts yesterday
ended at 289, we have seen yesterday that the gold ended at 658, we have seen yesterday that the silver
market had traded with a positive node and settled 0.55% market had traded with a positive node and settled
up. Spread yesterday traded in the range of 281 - 304. 3.83% up. Spread yesterday traded in the range of 596 -
658.

DAILY SPREAD IN CRUDE - MCX DAILY SPREAD IN COPPER - MCX

MONTH RATE MAY JUNE JULY MONTH RATE JUNE AUG
MAY 4541 61 108 JUNE 402 5.4
JUNE 4602 47 AUG 407.4
JULY 4649
Spread between crude APR & MAY contracts yesterday Spread between copper JUN & AUG contracts yesterday
SPREAD MARKET

ended at 61, we have seen yesterday that the crude ended at 5.4, we have seen yesterday that the copper
market had traded with a positive node and settled 2.75% market had traded with a positive node and settled
up. Spread yesterday traded in the range of 55 - 66. 0.52% up. Spread yesterday traded in the range of 5.4 -
8.1.

DAILY SPREAD IN ZINC - MCX DAILY SPREAD IN NICKEL - MCX

MONTH RATE MAY JUNE MONTH RATE MAY JUNE
MAY 97.1 1.3 MAY 1104.6 10.7
JUNE 98.4 JUNE 1115.3

Spread between zinc MAY & JUN contracts yesterday
ended at 1.3, we have seen yesterday that the zinc
market had traded with a positive node and settled 0.31%
up. Spread yesterday traded in the range of 1 - 1.35.
Spread between nickel MAY & JUN contracts yesterday
ended at 10.70, we have seen yesterday that the nickel
market had traded with a negative node and settled -
0.57% down. Spread yesterday traded in the range of
10.50 - 14.6.

DAILY SPREAD IN NAT. GAS - MCX DAILY SPREAD IN MENTHOL - MCX

MONTH RATE MAY JUNE MONTH RATE MAY JUNE
MAY 187.1 4.6 MAY 955.5 -46.4
JUNE 191.7 JUNE 909.1

Spread between natural gas MAY & JUN contracts
yesterday ended at 4.60, we have seen yesterday that the
natural gas market had traded with a negative node and
settled -2.94% down. Spread yesterday traded in the
range of 4.6 - 5.
Spread between menthol oil MAY & JUN contracts
yesterday ended at -46.40, we have seen yesterday that
the menthol oil market had traded with a negative node
and settled -0.74% down. Spread yesterday traded in the
range of -57 to -42.8.

Strictly for private circulation www.sharetipsexpert.com Page No. 6

 DAY TIME CURRENCY DATA Forecast Previous
ECONOMICAL

12:15pm EUR French Industrial Production m/m 0.005 0.004

1:30pm EUR Italian Industrial Production m/m 0.006 0.014
6:00pm USD Import Prices m/m 0.018 0.027
DATA

7:00pm USD FOMC Member Duke Speaks 0 0

7:30pm USD IBD/TIPP Economic Optimism 41.5 40.8
7:30pm USD Wholesale Inventories m/m 0.01 0.01
Tue 0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0

Platinum is drawing investment as a financial asset and palladium boasts an enviable market balance but silver could
top the precious pack this year as its latest fall offers a chance to buy, GFMS's Philip Klapwijk said. The managing
director of the metals consultancy, which on Thursday released its 2010 Platinum and Palladium market survey, said
that once the current price decline from last week's record above $49 an ounce has petered out, silver has enough
favour among investors to return to these levels. The silver price , which is still up about 22 percent so far this year
at $38 an ounce, is set for its largest weekly decline in nearly 30 years, led by selling after a series of sharp rises in
margin requirements to hold US silver futures, as well as hefty outflows of metal from the world's largest exchange-
traded funds. GFMS expects platinum to show a seventh consecutive annual surplus in 2011 as jewellery demand
softens and consumption from the auto sector continues to depend on the struggling European market, which is
NEWS YOU CAN USE

predominantly diesel-powered.

Goldman Sachs , which in April predicted this week's major correction in oil prices, said on Friday that oil could
surpass its recent highs by 2012 as global oil supplies continue to tighten. The Wall Street bank, seen as one of the
most influential in commodities business, said it did not rule out a further limited short-term fall in oil prices if macro-
economic data, which it said had sparked this week's crash, continued to disappoint. Goldman rocked markets in April
by calling a nearly $20 fall in Brent, saying speculators had pushed prices ahead of fundamentals. Goldman was one
of the first banks to predict $100 oil last decade, in 2005 when prices were closer to $50 a barrel, but it stayed bullish
for some time after oil peaked at $147 in 2008. Another major commodities player among banks, Barclays Capital,
which also predicted prices could correct but not as steeply as Goldman, said on Friday the current levels already
represented a good buying opportunity.

Indian overnight indexed swaps (OIS) rates inched up on Monday tracking government bond, after falling in two
consecutive sessions on easing commodity prices, and traders see the rates firm in the near-term. The benchmark 5-
year rate was at 8.34 percent, eight basis points higher than its previous close, while the one-year rate was at 8.06
percent, compared with Friday's close of 8.03 percent. Traders said the OIS rates will also eye the weekly inflation
data on Thursday for further direction. India's food price index rose 8.53 percent and the fuel price index climbed
13.53 percent in the year to April 23. In the previous week, annual food and fuel inflation stood at 8.76 percent and
13.53 percent, respectively.

Strictly for private circulation www.sharetipsexpert.com Page No. 3

Contact us
CARROTINVESTMENT
Plot no 36, Sector 23, Gurgaon, Haryana (INDIA)
Work Tel#: Fax No:
Mobile Tel#:
E-Mail: carrotinvestment@gmail.com URL: http://www.sharetipsexpert.com

Disclaimer
The report and calls made herein are for general information purpose and report contains only the viewpoints. We make no
representation or warranty regarding the correctness, accuracy or completeness of any information, and are not responsible for
errors of any kind even though we have taken utmost care in obtaining the information from sources which are believed to be
reliable, which are publicly available. The information contained herein is strictly confidential and is meant for the intended
recipients. Any alteration, transmission, photocopied distribution in part or in whole or reproduction of any form of the
information without prior consent of SHARETIPSEXPERT GROUP is prohibited. The information and data are derived from the
source that are deemed & believed to be reliable and the calls are based on the theory of Technical Analysis. Neither the
company nor its employees are responsible for the trading Profit(es) & loss(es) arising due to the trader. The commodities and
derivatives discussed and opinions expressed in this report may not be suitable for all investors falling under different categories
and jurisdictions. All futures trading entail significant risk, which should be fully understood prior to trading.

Strictly for private circulation www.sharetipsexpert.com Page No. 4