DAILY COMMODITY OUTLOOK

26 Sep, 11

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NCDEX CHANA OCT. CONTRACT OPEN `3670

HIGH

`3680

LOW

`3637

CLOSE

`3668

NCDEX CHANA OCT Contract Technical Outlook & Trading Strategy The price of Chana has been in strong uptrend over the past 3-5 months. Every correction from higher levels have halted and taken support at the key moving average clusters. One can clearly see from the chart above that the prices took support at the 8 day moving average and gave a smart bounce during the previous session of trade on the back of strong volume. The overall technical structure remains bullish and a move past the `3687 levels will lead to a fresh rally in the price of Chana. The MACD indicator has been continuously trading in bullish mode.

We recommend traders to buy on a break above `3687 levels with a stop loss placed below `3623 levels for upside targets of `3755 / `3780 levels expected to be achieved in 3-4 sessions of trade.

DAILY COMMODITY OUTLOOK

COMMODITIES TO WATCH

26 Sep, 11

th

NCDEX Guarseed Oct CMP`4694.00

Technical Outlook & Trading Strategy:-

The price of Guarseed has been trading in a rising channel since 10th Aug, 2011. Corrections from higher levels have been taking support at the moving average clusters. The momentum indicators continue to trade in bullish mode. A break above the `4743 levels will infuse fresh upside momentum into the counter. We recommend traders to take long positions on a break above `4743 levels with a stop loss placed below `4673 levels for immediate upside targets of `4830 / `4860 levels.

INVENTORY DATA

LME Warehouse Stocks (Inventory) and Volume

23 Sep 2011 METALS

Inventory MT 4,588,275 132,920 151,280 464,550 374,025 97,242 21,315 830,975 +/-4,350 0 -340 -1,525 -425 -576 150 -275

Volume MT 8,006,000 46,200 79,780 5,841,900 1,478,175 308,610 52,135 2,632,500 +/234,725 -11,840 17,180 2,403,625 159,675 86,568 4,800 288,325

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 MCX Nickel MCX Lead Support 1 3643 35963 638 15448 4652 362 892 95 Support 2 3619 35622 637 15337 4609 355 869 92 CLOSE-PRICE 3668 36305 639.8 15558 4694 368.95 914.70 97.8 Resistance 1 3686 36733 642 15652 4735 376 941 100 Resistance - 2 3705 37162 644 15745 4775 384 968 103

DAILY COMMODITY OUTLOOK

MCX Silver MCX Gold MCX Crude 52325 26408 3959 50924 26101 3915 53726 26716 4002 54752 26908 4038 55778 27101 4073

26 Sep, 11

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