DTN 29.12

8/3/2019 DTN 29.12

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DAILY COMMODITY OUTLOOK 29th

Dec

2011

Market Review & Outlook

Precious Metals

After going through m any flat sessions of tr ade the precious m etals witnessed

a session of t rade wit h im m ense volatil ity yesterday. Gold prices slipped t o an

intraday low of ` 27150 levels and closed the session with a cut of over 1%. On

the other hand silver prices witnessed a fresh breakdown and closed the

session with a cut of close to 4%. As a result of the sell off witnessed during

yesterday’s session both gold and silver will correct further over the

upcoming few sessions of trade. The `27050--`27000 and `49800 levels are

the next downside targets for gold and silver respectively.

Base Metals & Energy

The base metals gave up its early morning gains as the session progressed.

Negative cues from the US m arkets saw all the base metals trade wit h cut s of

close to or over 1%. The base m etals like lead and zinc look ext rem ely bearish

on the back of yeste rday’ s sell off.

Crude oil rallied to an intraday high of `5430 levels but could not sustain the

gains until the session closed. Crude closed the session with a cut of close to

1%. The t rend in crude oil remains bullish til l it continues to t rades above t he

` 5270 levels.

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Dec

2011

Strategy/Recommendations

MCX Lead Dec `103.55

Traders can sell between ` 104 --` 104.70 levels with a stoploss placed above` 106.05 levels for downside targets of `10 2.80 / ` 101.60 levels.

MCX Gold Feb ` 27281.00

Traders can sell on rise between `27330--`27360 levels with a stoploss placed

above ` 27510 levels for downside target s of ` 27100/ ` 27000 levels.

8/3/2019 DTN 29.12



Dec

2011

Morning Technical Levels for Metals and Energy

Commodity Exchange Contract Trend S2 S1 LTP R1 R2

Bullions

Gold MCX FEB Down 26,814 27,047 27,281 27,617 27,954

Spot Gold Down 1524 1541 1557.15 1584 1611

Silver MCX MAR Down 48,716 49,676 50,636 52,201 53,766

Spot Silver Down 25.61 26.32 27.02 28.25 29.47

Base Metals

LME Copper Sideways 3.2885 3.3236 3.3588 3.4201 3.4815

Copper MCX FEB Sideways 393.8 396.65 399.55 404.6 409.7

Zinc MCX DEC Down 94.4 95.25 96.1 97.6 99.1

Lead MCX DEC Down 101.5 102.53 103.55 105.3 107.1

Aluminium MCX DEC Sideways 104.3 104.80 105.35 106.2 107.1

Nickel MCX DEC Sideways 927.2 940.83 954.5 979.9 1005

Energy

Crude oil MCX JAN UP 5,228 5,277 5,325 5,402 5,478

Crude NYMEX UP 97.63 98.68 99.74 101.23 102.73

Natural Gas MCX Dec Down 54.87 109.73 164.6 109.7 54.87

8/3/2019 DTN 29.12



Dec

2011

Strategy/Recommendations

MCX Mentha oil Dec `1308.10

Traders can take long positions between `1302--`1300 levels with a stoploss placed

below ` 1291.40 levels for upside targets of ` 1320 / ` 1330 levels.

gricultural Commodities

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Dec

2011

Morning Technical Levels for Agri - Commodities

Commodity Exchange Contract Trend S2 S1 LTP R1 R2

Spice Complex

Jeera NCDEX JAN UP 15234 15499 15764.00 16060 16356

Pepper NCDEX JAN UP 32063 32347 32630.00 33032 33433

Turmeric NCDEX MAY UP 4595 4649 4704.00 4779 4855

Chilli NCDEX FEB DOWN 6366 6450 6534.00 6650 6766

Coriander NCDEX JAN DOWN 3795 3842 3889.00 3933 3977

Oilseed Complex

Soybean NCDEX JAN UP 2432 2457 2482.50 2500 2518

Mustard Seed NCDEX JAN UP 3491 3516 3542.00 3558 3575Ref Soya Oil NCDEX JAN UP 714 719 724.05 728 731

CPO NCDEX DEC Sideways 182 363 544.75 363 182

Castor Seed NCDEX JAN Sideways 3752 3852 3953.00 4003 4054

Others

Guar Seed NCDEX JAN UP 6940 7106 7272.00 7355 7438

Guar Gum NCDEX JAN UP 22857 23485 24114.00 24428 24743

Chana NCDEX JAN UP 3227 3253 3278.00 3307 3335

Sugar NCDEX JAN UP 2860 2873 2886.00 2905 2924

Kapas NCDEX Apr UP 798 810 821.40 829 836

Cotton Oilseed

Cake

NCDEX Jan Sideways 1214 1228 1243.00 1251 1260

Gur NCDEX Jan UP 1060 1063 1066.50 1072 1077

Potato NCDEX Apr DOWN 559 563 567.60 571 574

Menthaoil MCX Dec Sideways 1286 1297 1308.10 1315 1322

Wheat NCDEX Jan UP 1185 1188 1190.00 1192 1193

Maize NCDEX Jan Sideways 1204 1212 1219.00 1227 1235

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Dec

2011

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DTN 29.12

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Transcript of DTN 29.12