DAILY COMMODITY OUTLOOK

27 Sep, 11

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MCX CRUDEOIL OCT. CONTRACT OPEN `3985

HIGH

`4020

LOW

`3853

CLOSE

`4004

MCX CRUDEOIL OCT Contract Technical Outlook & Trading Strategy The price of Crude Oil faced heavy selling pressure over the past few sessions of trade as it corrected from the highs of `4313 levels to register a low of ` 3853 levels during the previous session. But the key observation to be made is that the price of crude has registered an inverted head and shoulders pattern breakout on its intraday charts during the previous session. This is a bullish formation and the measuring implication of the pattern suggests that the price can advance to levels of `4080 and/or `4120 levels. The momentum indicators have also turned into buy mode signaling a near term to short term reversal in the counter.

We recommend traders to buy between `4020--`3980 levels with a stop loss placed below `3933 levels for upside targets of `4080 / `4120 levels expected to be achieved in 1-2 sessions of trade.

DAILY COMMODITY OUTLOOK

COMMODITIES TO WATCH

27 Sep, 11

th

NCDEX RM Seed Oct CMP`2902.00

Technical Outlook & Trading Strategy:-

The price of Mustard seed has been on a decline since it registered a high of `3080 levels as on 01st Aug, 2011. Since then it has been taking support at its downward sloping trend line support on its daily charts. But the price has now registered a breakdown from this downwards sloping trend line and this is likely to have negative implications for the price. The price has also closed below its key moving average clusters on the daily charts and the indicators are also trading in bearish mode. We recommend traders to take short positions between `2915--`2895 levels with a stop loss placed above `2953 levels for downside targets of `2850 / `2825 levels.

INVENTORY DATA

LME Warehouse Stocks (Inventory) and Volume

26 Sep 2011 METALS

Inventory MT 4,583,800 132,920 151,100 463,575 373,800 97,140 21,405 828,500 +/-4,475 0 -180 -975 -225 -102 90 -2,475

Volume MT 10,512,900 37,780 77,880 5,926,125 1,401,725 395,898 43,485 2,762,150 +/2,506,900 -8,420 -1,900 84,225 -76,450 87,288 -8,650 129,650

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 Support 1 3567 34398 624 14957 4571 350 Support 2 3526 33942 615 14714 4510 334 CLOSE-PRICE 3609 34855 633.90 15200 4632 366.10 Resistance 1 3675 35768 641 15514 4707 376 Resistance - 2 3742 36682 648 15828 4782 386

DAILY COMMODITY OUTLOOK

MCX Nickel MCX Lead MCX Silver MCX Gold MCX Crude 857 92 47367 24886 3898 813 88 43158 24085 3792 900.80 95.40 51577 25687 4004 933 99 54243 26594 4065 966 102 56910 27501 4126

27 Sep, 11

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