January 9, 2007

 
 
GOLD

After a brief advance towards 8880 levels, prices witnessed sharp selling pressure and seen a low of 8798 in the late hours of trade. However, market recovered in the closing bell and settled the day at 8842 levels down by 22 rupees. Market may see minor pullbacks today which can be used as ideal selling point. The short term trend is bearish and prices are expected to trade weak in the coming sessions. Watch out the resistance of 8880 and 8946 with support at 8800 and 8775.
SILVER

Silver prices too witnessed sharp selling interest after a brief advance towards 18600 levels. However, market recovered in the late hours and settled at 18517 levels up by marginal 21 rupees. Chart formation is indicating bearish trend to continue with some minor pullback in the initial hours. Watch out the resistance at 18660 and 18700 and 18820 with support at 18266 and 18180 levels. Selling is recommended on a good pullback.
CRUDE OIL

Crude Oil fell sharply again after some retracement towards 2633 levels. Market settled the day at 2551 levels down by 8 rupees since last week’s close. Prices are finding support at 2510 levels and breaching the same may lead strong selling pressure in the market. Overall the trend is bearish and we recommend staying on the selling side. Watch out the resistance of 2572, 2600 and 2635 with support at 2524, 2510, and 2480.

 

SOY OIL

NCDEX Refined Soy oil Jan prices witnessed sideways trade yesterday with no clear cut direction. Prices traded in the range of 471.6-468.50. Short term trend are slightly weak and breach of recent reaction low of 468.50 may guide prices towards 465-66 levels. Resistance is seen at 472 -473 levels. We recommended traders to stay on the selling side from intraday perspective.
Intraday Levels

Commodity

S2

S1

Prev
Close

R1

R2

Recommendation*

MCX Gold Feb

8755

8798

8842

8885

8929

Sell at 8910 SL 8950 TP 8840

MCX Silver March

18022

18270

18517

18681

18844

Sell at 18680 SL 18790 TP 18350

MCX Copper Feb

241.00

247.00

253

258.60

264.20

Sell at 256 SL 259.50 TP 251

MCX Crude Oil Feb

2460

2506

2551

2615

2678

Sell at 2565 SL 2588 TP 2510

NCDEX Guar seed Feb

1994

2008

2022

2037

2052

Buy at 2010 SL 1992 TP 2040

NCDEX Urad Desi Feb

2786

2838

2889

2932

2974

-

NCDEX Chana Feb

2073

2115

2157

2182

2207

Buy at 2130 SL 2109 TP 2170

NCDEX Soy oil Feb

467.0

468.6

470

471.7

473.2

Sell at 470.50 SL 472.50 TP 467

NCDEX Soybean Feb

1386.4

1391.3

1396

1400.8

1405.4

Sell at 1400 SL 1415 TP 1375

NCDEX Chilli March

3980

4112

4243

4309

4374

-

NCDEX Pepper Jan

10968

11106

11245

11402

11560

-

NCDEX Jeera Jan

9004

9057

9110

9156

9202

Sell at 9135 SL 9230 TP 9010

*NOTE: The calls shown above are purely INTRA-DAY and should NOT be Carried-forward.
 
Calls Open

Date

Recc

Particulars

Initiation price

Stop Loss/ reversal

Targets

CMP

MTM P/L

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


Calls Update



Trading tips on your Mobile. Subscribe to it today http://www.karvycomtrade.com/kstlSMS.asp

 
 
 

To unsubscribe please mail us at commodity@karvy.com

 
Disclaimer

The report contains the opinions of the author, which are not to be construed as investment advices. The author, directors and other employees of Karvy and its affiliates cannot be held responsible for the accuracy of the information presented herein or for the results of the positions taken based on the opinions expressed above. The above mentioned opinions are based on the information which is believed to be accurate and no assurance can be given for the accuracy of these information. There is risk of loss in trading in derivatives. The author, directors and other employees of Karvy and its affiliates cannot be held responsible for any losses in trading.

Commodity derivatives trading involve substantial risk. The valuation of underlying may fluctuate, and as a result, clients may lose entire of their original investment. In no event should the content of this research report be construed as an express or an implied promise, guarantee or implication by or from Karvy Comtrade that you will profit or that losses can or will be limited in any manner whatsoever. Past results are no indication of future performance. Information provided on this report is intended solely for informative purposes and is obtained from sources believed to be reliable. Information is in no way guaranteed. No guarantee of any kind is implied or possible where projections of future conditions are attempted.

We do not offer any sort of portfolio advisory, portfolio management or investment advisory services. The reports are only for information purpose and not to be construed as investment advices.

For Detailed disclaimer please go to following URL's:

http://www.karvycomtrade.com/disclaimer.asp

http://www.karvycomtrade.com/riskDisclaimer.asp