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8/3/2019 Daily Commodity Update 19-12-2011
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DAILY COMMODITY OUTLOOK 19th Dec2011
Market Review & Outlook
Precious Metals
Gold & silver closed in the negative territory for the third straight session of
trade. Gold registered a low of `27047 levels but recovered from these lower
levels as the session progressed. We reiterate that, `27300--`27000 are
strong support zones for gold prices. Silver prices too remained in the
negative territory throughout the days trade. Sustenance below `54000
levels will see silver pr ices gradually slip to ` 5100 0 levels.
Base Metals & Energy
The base met als traded on a m ixed not e during y esterday s session. Lead and
Zinc closed the session with a cut of 2% and 1% respectively. The price of
zinc has closed in t he red for the 5 th straight session of trade. Nickel rem ained
strong and closed the session with smart gains of just over 1%. Nickel
remains the only base metal t hat rem ains a buy on dips.
Crude oil continued its correction from higher levels and closed in the red forthe 3 rd consecutive session of the trade. Although crude oil has now broken
below a key support level, it can witness some pullback over the upcoming
few sessions. On the other hand natural gas price has broken below its
multiple support levels placed at the `170 levels on a closing basis. This is an
extremely bearish event for natural gas and opens up downside targets of
` 150 / ` 147 levels.
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DAILY COMMODITY OUTLOOK 19th Dec2011
Strategy/Recommendations
MCX Nickel Dec ` 976.90
Traders can look to go long betw een ` 979--` 972 levels with a stoploss placedbelow ` 959.15 levels for upside target s of ` 992 / ` 1009 levels.
MCX Lead Dec `103.95
Traders can look to go short betw een ` 104.40--` 104.75 levels with a stoplossplaced above ` 105.65 levels for downside target s of ` 103.10 / ` 102 levels.
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DAILY COMMODITY OUTLOOK 19th Dec2011
Morning Technical Levels for Metals and Energy
Commodity Exchange Contract Trend S2 S1 LTP R1 R2
Bullions
Gold MCX FEB Down 27,486 27,561 27,636 27,680 27,724
Spot Gold Down 1568 1585 1601.25 1611 1620
Silver MCX MAR Down 53,391 53,553 53,714 53,823 53,931
Spot Silver Down 28.88 29.30 29.71 30.03 30.34
Base Metals
LME Copper Sideways 3.2379 3.2999 3.3620 3.4004 3.4389
Copper MCX FEB Sideways 391.4 392.32 393.2 393.8 394.3
Zinc MCX DEC Down 98.67 98.83 99 99.13 99.27
Lead MCX DEC Down 102.9 103.42 103.95 104.3 104.6
Aluminium MCX DEC Sideways 105.6 105.68 105.75 105.8 105.8
Nickel MCX DEC UP 973.3 975.10 976.9 978.7 980.5
Energy
Crude oil MCX Dec Sideways 4,888 4,919 4,950 4,968 4,986
Crude NYMEX Sideways 91.48 92.68 93.87 94.92 95.96
Natural Gas MCX Dec Down 164.6 165.20 165.8 166.2 166.6
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DAILY COMMODITY OUTLOOK 19th Dec2011
Strategy/Recommendations
NCDEX Pepper Jan ` 35620.00
Traders can go long between `35650--`35750 levels with a stoploss placed below
` 35080 levels for upside targets of ` 36400 / ` 36650 levels.
Agricultural Commodities
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DAILY COMMODITY OUTLOOK 19th Dec2011
Morning Technical Levels for Agri - Commodities
Commodity Exchange Contract Trend S2 S1 LTP R1 R2
Spice Complex
Jeera NCDEX Dec UP 13693 13853 14012.00 14119 14225
Pepper NCDEX Dec UP 36895 37370 37845.00 38150 38455
Turmeric NCDEX Dec UP 4023 4051 4080.00 4137 4195
Chilli NCDEX Dec DOWN 6145 6403 6660.00 6789 6917
Coriander NCDEX Dec 3792 3837 3881.00 3943 4004
Oilseed Complex
Soybean NCDEX Dec UP 2298 2327 2356.50 2375 2394
Mustard Seed NCDEX Dec UP 3407 3436 3466.00 3490 3515Ref Soya Oil NCDEX Dec UP 659 664 668.80 672 674
CPO NCDEX Dec Sideways 171 341 512.10 341 171
Castor Seed NCDEX Dec Sideways 3929 3939 3948.00 3954 3959
Others
Guar Seed NCDEX Dec UP 5893 6005 6116.00 6339 6561
Guar Gum NCDEX Dec UP 19262 19649 20037.00 20812 21588
Chana NCDEX Dec UP 3172 3225 3278.00 3314 3350
Sugar NCDEX Dec UP 2722 2749 2777.00 2826 2876
Sugar NCDEX Dec UP 958 1916 2874.00 1916 958
Kapas NCDEX Apr Sideways 718 735 751.70 762 771
Cotton Oilseed
Cake
NCDEX Jan Sideways 1176 1193 1209.00 1220 1230
Gur NCDEX Dec UP 1031 1033 1035.00 1037 1038
Potato NCDEX Apr DOWN 541 550 559.40 568 577
Menthaoil MCX Dec Sideways 1298 1305 1310.60 1315 1320
Wheat NCDEX Dec Sideways 1122 1127 1133.00 1141 1150
Maize NCDEX Dec Sideways 1099 1119 1138.00 1154 1169
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DAILY COMMODITY OUTLOOK 19th Dec2011
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