DAILY COMMODITY OUTLOOK

07 Oct, 11

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MCX ZINC OCT. CONTRACT OPEN `92.40

HIGH

`92.75

LOW

`90.75

CLOSE

`92.50

MCX ZINC OCT Contract Technical Outlook & Trading Strategy The price of Zinc has been trading in a narrow range of `90 to `93.80 levels since it witnessed a sharp correction from the highs of `105.15 levels as on 13th Sep, 2011. But the most important observation to be made on the charts of Zinc is the positive divergence displayed by the RSI indicator. It signals that the downward movement of the price could have lost force and in all likelihood this can lead to some kind of an advance. Hence, the current technical setup suggests that a sustained break above the 8 day moving average placed at the `93 levels will see the price of zinc testing levels of `95.60 and/or `97.50 levels on the upside.

We recommend traders to buy on a break above `93 levels with a stop loss placed below `91.45 levels for upside targets of `95.60 / `97.50 levels expected to be achieved over the upcoming 34 sessions of trade.

DAILY COMMODITY OUTLOOK

COMMODITIES TO WATCH

07 Oct, 11

th

MCX Pepper Oct CMP`35840.00

Technical Outlook & Trading Strategy:-

We reiterate our bullish bias on the price of pepper. As mentioned in our previous note the price of pepper was consolidating in a narrow trading range over the past few sessions of trade, since it corrected from its all time highs. The key moving average clusters have been providing good support for the price of pepper. The momentum indicators continue to trade in buy mode despite the recent correction. We recommend day / positional traders to take Long positions on a break above `36200 levels with a stop loss placed below `35620 levels for upside targets of `36780 / `370000 levels.

INVENTORY DATA

LME Warehouse Stocks (Inventory) and Volume

06 Oct 2011 METALS

Inventory MT 4,551,750 135,920 151,460 471,725 380,875 94,884 20,705 810,725 +/-4,850 0 60 -3,200 1,175 -498 180 -3,800

Volume MT 6,107,400 92,400 62,900 3,762,700 1,703,575 147,582 20,405 2,126,225 +/1,935,625 23,440 6,480 1,079,350 826,550 -6,624 25 228,775

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 2984 35523 595 13996 4127 348 Support 2 2937 35207 588 13755 4006 338 CLOSE-PRICE 3030 35840 602.15 14237 4247 357.35 Resistance 1 3123 36173 608 14560 4395 363 Resistance - 2 3215 36507 614 14883 4542 369

DAILY COMMODITY OUTLOOK

MCX Nickel MCX Lead MCX Silver MCX Gold MCX Crude 926 96 51993 26327 3941 915 95 50748 26143 3843 936.40 96.35 53237 26510 4038 945 97 53985 26647 4103 953 98 54732 26783 4167

07 Oct, 11

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