DAILY COMMODITY OUTLOOK

22 Sep, 11

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MCX LEAD SEP. CONTRACT OPEN `112.15

HIGH

`113.00

LOW

`108.40

CLOSE

`109.30

MCX LEAD Sep Contract Technical Outlook & Trading Strategy The recent rally in the price of Lead from the lows of `99.10 levels could only register a lower top of `118.95 levels as on 31st Aug, 2011. Since then the price of lead has been trading in a narrow range and had been taking support at the ascending trendline support and the moving average clusters as outlined in the chart above. The selling pressure witnessed during the previous session of trade led to a breakdown in the price of lead as it registered a breakdown below the key supports. The MACD indicator has also given a fresh sell signal.

We recommend traders to sell between `109.90--`110.50 levels with a stop loss placed above `111.55 levels for immediate downside targets of `108.25 / `107 levels expected to be achieved in 2-3 sessions.

DAILY COMMODITY OUTLOOK

COMMODITIES TO WATCH

22 Sep, 11

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NCDEX Guarseed Oct CMP`4715.00

Technical Outlook & Trading Strategy:-

The price of Guarseed has given a very smart consolidation breakout from its moving average clusters during the previous session. The upmove witnessed over the previous few sessions have been on the back of strong surge in volumes. The key momentum indicators are also in buy mode indicating further upsides from current levels. Thus, we recommend traders to buy between `4725--`4690 levels with a stop loss placed below `4629 levels for upside targets of `4790 / `4835 levels.

INVENTORY DATA

LME Warehouse Stocks (Inventory) and Volume

21 Sep 2011 METALS

Inventory MT 4,592,900 133,000 151,940 466,950 374,825 97,638 21,160 833,350 +/-6,450 -60 380 25 29,400 -408 140 -1,525 MT

Volume +/-1,761,525 -17,440 -49,180 -537,325 50,975 -3,252 25,000 882,750 36,600 100,940 4,062,575 907,625 170,280 53,160 3,080,325 7,534,000

Aluminum Al Alloy NASAAC Copper Lead Nickel Tin Zinc

KEY SUPPORT RESISTANCE LEVELS

Commodity NCDEX Chana NCDEX Pepper NCDEX Soya Oil NCDEX Jeera NCDEX Guarseed MCX Copper MCX Nickel Support 1 3607 36620 651 15859 4652 401 984 Support 2 3589 36255 650 15725 4588 397 971 Resistance 1 3654 37240 654 16110 4761 407 1017 Resistance - 2 3683 37495 656 16227 4806 409 1036

DAILY COMMODITY OUTLOOK

MCX Silver MCX Gold MCX Crude 64489 27973 4153 63685 27805 4096 65819 28267 4264 66345 28393 4318

22 Sep, 11

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