NB Daily Technicals Commodity, Precious Metals and Crude

Bullion Technical Outlook

Gold Silver

Commentary Gold prices are trading in a narrow range, however witnessed buying interest from the support of 27200, price are expected to test 27600 650 on higher end. One can buy around 27400. Oscillators are suggesting flat to up move ahead.

Commentary Silver prices have broken the range bound move, and is expected to remain positive till 56500 -57000, one can buy on dips around 55000. Oscillators are heading up.

Levels for the day

Month S3 S2 S1 R1 R2 R3

Levels for the day

Month S3 S2 S1 R1 R2 R3

Gold

Feb

27180

27280

27400

27530

27670

27800

Silver

Mar

53800

54400

55000

56200

57000

57500

Monday, January 23, 2012

Page 1 of 5

NB Daily Technicals Commodity, Precious Metals and Crude

Base Metals Technical Outlook
Copper Nickel

Commentary Copper prices are witnessing profit booking and are expected to test 413 414, which should be good levels to enter long. oscillators are expected to trade in positive zone.

Commentary Nickel prices are looking good one can buy around 1015 1010, prices are expected to test 1045 1050. oscillators are heading up.

Levels for the day

Month S3 S2 S1 R1 R2 R3

Levels for the day

Month S3 S2 S1 R1 R2 R3

Copper

Feb

410

414

418

422

425

428

Nickel

Jan

995

1010

1020

1035

1050

1070

Monday, January 23, 2012

Page 2 of 5

NB Daily Technicals Commodity, Precious Metals and Crude

Base Metals Technical Outlook
Lead Crude Oil

Energy Technical Outlooks

Commentary Lead prices ended with a doji, prices should witness profit booking to the tune of 106.80 106.50, on higher end 110 should act as resistance. Oscillators are in positive zone.

Commentary Crude prices should witness profit booking to the tune of 4940 -4920, which are good levels to cover short position as we can expect a bounce till 5000.oscillators are suggesting down move ahead after a bounce.

Levels for the day

Month S3 S2 S1 R1 R2 R3

Levels for the day

Month S3 S2 S1 R1 R2 R3

Zinc Lead Alu

Jan Jan Jan

98 106.10 107.50

99.30 107.20 108.80

100.30 108 110

101.4 108.50 111

102.30 109.30 111.90

103.40 110.10 112.85

Crude Oil Natural Gas

Feb

4870

4915

4950

4980

5020

5055

Jan

111

114

116

117

120

124

Monday, January 23, 2012

Page 3 of 5

NB Daily Technicals Commodity, Precious Metals and Crude

Pre-Market Trading Strategy for the day

Commodity Contract Strategy Rate Target 1 Target 2 Target 3 Stop-Loss

Gold Silver Crude Copper Nickel Zinc Lead Aluminium

Feb Mar Jan Feb Jan

Buy Buy Buy Buy Buy Buy

27430 27400 55000 55100 4920 4930 415 416 1020 1015 100.80 101 108 108.20 109.80 -109.50

27550 56200 4980 421 1035 101.90 109.50 111.30

27650 56550 5000 424 1040 102.30 110 111.80

27300 54300 4890 412 1000 99.70 107 108.30

Jan Buy Jan Buy Jan

Monday, January 23, 2012

Page 4 of 5

NB Daily Technicals Commodity, Precious Metals and Crude

RESEARCH TEAM NAME DESIGNATION EMAIL

kunal.shah@nirmalbang.com devidas.rajadhikary@nirmalbang.com vikash.bairoliya@nirmalbang.com harshal.mehta@nirmalbang.com vinod.maloo@nirmalbang.com sunit.mehta@nirmalbang.com ravi.dsouza@nirmalbang.com somya.dixit@nirmalbang.com subhash.lalwani@nirmalbang.com

KUNAL SHAH DEVIDAS RAJADHIKARY VIKASH BAIROLIYA HARSHAL MEHTA VINOD MALOO SUNIT MEHTA RAVI DSOUZA SOMYA DIXIT SUBHASH LALWANI

RESEARCH HEAD-COMMODITIES TECHNICAL RESEARCH ANALYST ANALYST PRECIOUS & CURRENCIES TECHNICAL RESEARCH ANALYST TECHNICAL RESEARCH ANALYST RESEARCH ANALYST (BASE METALS) RESEARCH ASSOCIATE RESEARCH ASSOCIATE RESEARCH ASSOCIATE

Disclaimer This Document has been prepared by Nirmal Bang Research (A Division of Nirmal Bang Securities PVT LTD). The information, analysis and estimates contained herein are based on Nirmal Bang Research assessment and have been obtained from sources believed to be reliable. This document is meant for the use of the intended recipient only. This document, at best, represents Nirmal Bang Research opinion and is meant for general information only. Nirmal Bang Research, its directors, officers or employees shall not in anyway be responsible for the contents stated herein. Nirmal Bang Research expressly disclaims any and all liabilities that may arise from information, errors or omissions in this connection. This document is not to be considered as an offer to sell or a solicitation to buy any securities. Nirmal Bang Research, its affiliates and their employees may from time to time hold positions in securities referred to herein. Nirmal Bang Research or its affiliates may from time to time solicit from or perform investment banking or other services for any company mentioned in this document. About Nirmal Bang Founded in 1986 by Shri Nirmal Bang, the Nirmal bang Group is recognized as one of the largest retail broking houses in India, providing an array of financial products and services. Our retail and institutional clients have access to products such as equities, derivatives, commodities, currency derivatives, mutual funds, IPOs, insurance, depository services and PMS. Throughout our history, we have fostered one overriding purpose to provide each client with personal service and quality of work. By adhering to this principle, we have grown to become a successful and well-respected firm of highly qualified professionals. The Group is headed by Mr. Dilip Bang and Mr. Kishore Bang who bring forward industry expertise, insight and most importantly, create an environment of unmatched commitment to clients. We are registered members of the Bombay Stock Exchange Limited (BSE), National Stock Exchange of India Limited (NSE), Multi Commodity Exchange of India Limited (MCX), National Commodity & Derivatives Exchange Limited (NCDEX), National Multi Commodity Exchange of India Limited (NMCE) and MCX Stock Exchange Limited and are also depository participants of NSDL and CDSL.

Monday, January 23, 2012

Page 5 of 5