21 OCT 2014

Daily Commodity Report

Daily Metals & Energy update
Gold advanced to the highest level in six weeks as investors assessed the
global economy and the outlook for monetary policies amid the biggest sale in
a year from the largest exchange-traded product. Bullion for immediate
delivery rose as much as 0.3 percent to $1,250.35 an ounce. MCX Gold Dec is
currently at `27580, it is trading up by `165 points for the day. Comex Silver is
currently trading at $17.49 whereas MCX Silver Dec is currently trading at
`38777, it is up by `243.
The SPDR Gold Trust, the worlds largest gold-backed exchange-traded fund,
is holding 751.96 tonnes as per latest available data on their website.
Copper rebounded as economic growth and factory output data from China,
the biggest user of industrial metals, beat analysts estimates. Copper rallied
as much as 0.8 percent in London after losing 1.2 percent yesterday. Chinas
gross domestic product in the third quarter rose 7.3 percent from a year
earlier, compared with the 7.2 percent median estimate. Industrial output in
September expanded 8 percent, compared with the 7.5 percent forecast in a
separate survey and 6.9 percent in August.
The yen strengthened for the first time in four days against the dollar as Asian
stocks fell and traders pushed back estimates for when the Federal Reserve
will increase interest rates. Japans currency rose versus all of its 16 major
counterparts as demand for haven assets was boosted as the Nikkei 225
Stock Average slid 2%. The Australian and New Zealand dollars strengthened
after Chinas factory output and economic growth expanded more than
forecast. South Koreas won climbed to the strongest level.
WTI traded near the highest level in four days amid speculation motor-fuel
inventories shrank in the U.S., the worlds biggest oil consumer. Brent was
steady in London. Futures were little changed in New York from the close of
Oct. 17. Gasoline stockpiles fell by 1.45 million barrels to a two-year low. WTI
for December delivery was at $82.26 a barrel in electronic trading on the New
York Mercantile Exchange, up 35 cents. MCX Crude Oil Nov is currently
trading at `5075, it is trading up by `19 for the day.

Geojit Comtrade Ltd.

805, Dev Plaza,

Base metals are trading on a negative note today.

Opp. Irla Fire Brigade,

S.V. Road, Andheri West,

Important data to be released today: Existing Home Sales.

Mumbai - 400058.

Geojit Comtrade Ltd.

21 OCT 2014
TECHNICAL UPDATE
MCX GOLD DEC ( `27590)

The above Daily chart of Gold suggest that prices have reversed after taking support of 27400 level. RSI is in buy
mode. We expect prices to go up to levels of 27800.
Trading Call: Buy around 27550 levels with a stop loss placed below 27400 levels for targets of 27800
levels.

MCX SILVER DEC ( `38720)

The above Daily chart of Silver suggest that prices have reversed after taking support of 38400 level. RSI is in a
buy mode. We expect prices to go up to levels of 39800.
Trading Call: Buy around 38600 levels with a stop loss placed below 38100 levels for targets of 39800
levels.

Geojit Comtrade Ltd.

21 OCT 2014
TECHNICAL UPDATE
MCX CRUDE OIL NOV ( `5070)

The above Daily chart of Crude Oil suggest that prices have reversed after taking support of 4950 level.
Stochastic is in buy mode. We expect prices to go up to levels of 5150.
Trading Call: Buy around 5050 levels with a stop loss placed below 4980 levels for targets of 5150 levels.

MCX NATURAL GAS OCT ( `225.70)

The above Daily chart of Natural Gas suggest that prices have breached the crucial support of 230 level. RSI is in
a sell mode. We expect prices to correct up to levels of 218.
Trading Call: Sell around 227 levels with a stop loss placed above 232 levels for targets of 218 levels.

Geojit Comtrade Ltd.

21 OCT 2014
TECHNICAL UPDATE
MCX COPPER NOV ( `405.55)

The above Daily chart of Copper suggest that prices are trading near the crucial support of 404 level. RSI is
building strength. We expect prices to go up to levels of 412.
Trading Call: Buy around 404 levels with a stop loss placed below 400 levels for targets of 412 levels.

MCX NICKEL OCT ( `927.60)

The above Daily chart of Nickel suggest that prices have breached the crucial support of 950 level. RSI is in a sell
mode. We expect prices to correct up to levels of 902.
Trading Call: Sell around 930 levels with a stop loss placed above 945 levels for targets of 902 levels.

Geojit Comtrade Ltd.

21 OCT 2014
TECHNICAL UPDATE
MCX LEAD OCT ( `122.35)

The above Daily chart of Lead suggest that prices have reversed after taking resistance of 124 level. RSI is in a
sell mode. We expect prices to correct up to levels of 121.
Trading Call: Sell around 122.50 levels with a stop loss placed above 123.50 levels for targets of 121
levels.

MCX ZINC OCT ( `134)

The above Daily chart of Zinc suggest that prices have breached the crucial support of 135 level. RSI is in a sell
mode. We expect prices to correct up to levels of 132.
Trading Call: Sell around 134 levels with a stop loss placed above 135 levels for targets of 132 levels.

Geojit Comtrade Ltd.

21 OCT 2014
TECHNICAL UPDATE
MCX ALUMINIUM OCT ( `120)

The above Daily chart of Aluminium suggest that prices have reversed after taking resistance of 122 level. RSI is
losing its strength. We expect prices to correct up to levels of 118.
Trading Call: Sell around 120.50 levels with a stop loss placed above 122 levels for targets of 118 levels.

ECONOMIC DATA FOR THE DAY

COUNTRY
US

TIME
19:30

INDICATOR
Existing Home Sales

SURVEY PRIOR
5.11M
5.05M

Geojit Comtrade Ltd.

21 OCT 2014

Research Department - Institutional Desk

Geojit Comtrade Ltd.

Nitin Nachnani
nitin_n@geojitcomtrade.com
Contact: 022-61312127

805 Dev Plaza

Opp. Irla Fire Brigade,
S.V. Road, Andheri West,
Mumbai - 400058.

Disclaimer:

The information contained here was gathered from sources deemed reliable; however, no claim is made as to
accuracy or content. This does not contain specific recommendations to buy or sell at particular prices or time,
nor should any examples presented be deemed as such. There is a risk of loss in commodity trading and
commodity options and you should carefully consider your financial position before making a trade. This is not,
nor is it intended, to be a complete study of chart patterns or technical analysis and should not be deemed as
such. Geojit Comtrade Ltd. does not guarantee that such information is accurate or complete and it should not
be relied upon as such. Any opinions expressed reflect judgements at this date and are subject to change
without notice. For use at the sole discretion of the investor without any liability on Geojit Comtrade Ltd.

Geojit Comtrade Ltd.