DAILY COMMODITY OUTLOOK

30 Sep, 11

th

MCX ALUMINIUM OCT. CONTRACT OPEN `107.70

HIGH

`109.25

LOW

`107.20

CLOSE

`109.15

MCX ALUMINIUM OCT Contract Technical Outlook & Trading Strategy The price of Aluminium witnessed a mild correction from its downtrend line resistance levels which brought it into its strong support zones of `106.25--`107.80 levels. We would like to point out that this strong support held on even when the other base metals witnessed severe correction on the back of huge supply during the previous few sessions of trade. The steady rise in volumes over the past few sessions of trade is probably a sign of accumulation in the counter at these support levels. The RSI indicator has also given a buy signal backed by a positive divergence. All the above mentioned technical factors point that the price of aluminium are likely to witness a pullback towards the `112.25 / `113 levels and test its downtrend line resistance.

We recommend traders to buy between `109.25--`108.75 levels with a stop loss placed below `107.45 levels for upside targets mentioned above.

DAILY COMMODITY OUTLOOK

COMMODITIES TO WATCH

30 Sep, 11

th

NCDEX Turmeric Oct CMP`4566.00

Technical Outlook & Trading Strategy:-

The price of turmeric has been in a strong downtrend since the past 1year and the prices have gone through severe correction. But, the first technical factor that signals a near term to short term reversal in the trend is that the momentum indicators are giving a buy signal. Secondly, the price has registered a close above its 8day moving average which had been acting as stiff resistance on every pullback and finally the steady rise in volumes signal a reversal. We recommend day / positional traders to take long positions between `4600--`4520 levels with a stop loss placed below `4449 levels for upside targets of `4725 / `4850 levels expected to be achieved over the upcoming 2-3 sessions of trade.

INVENTORY DATA

LME Warehouse Stocks (Inventory) and Volume

29 Sep 2011 METALS

Inventory MT 4,569,075 134,900 151,400 470,700 373,425 97,164 21,165 824,125 +/-3,950 0 0 4,025 -275 -126 -285 -3,200

Volume MT 7,311,675 40,080 51,100 5,084,875 1,182,150 214,452 46,630 2,976,050 +/223,600 -8,420 -30,840 471,075 88,875 -1,506 10,615 654,800

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 Support 1 3347 35253 620 14862 4631 Support 2 3305 34587 617 14642 4647 CLOSE-PRICE 3389 35290 623.95 15083 4614 Resistance 1 3473 36293 627 15421 4624 Resistance - 2 3557 36667 630 15760 4633

DAILY COMMODITY OUTLOOK

MCX Copper MCX Nickel MCX Lead MCX Silver MCX Gold MCX Crude 347 897 97 49852 25466 3997 339 879 95 48459 25192 3918 355.65 916.90 99.75 51245 25740 4076 362 932 101 52614 25977 4136 368 947 103 53983 26214 4196

30 Sep, 11

th

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