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Keynote commodity daily report 251011

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Keynote commodity daily report 251011

  1. 1. Daily Commodity Outlook 25th October 2011 MCX GOLD (DEC 11) - Gold opened lower at 26712. It moved Gold Silver Crude (5 Dec-11) (5 Dec-11) (17 Nov-11) higher to touch intra-day high of 26947 However, it failed to sustain higher and moved lower to touch intra-day high of 26661. It ended Open 26,712 53,188 4,389 the day on with marginal losses to close at 26726 High 26,947 53,645 4,559 The RSI is placed above its average. Further the Stochastic is also Low 26,661 52,777 4,376 placed above its average. Both these conditions would fuel buying Close 26,726 53,077 4,546 support. However, the Stochastic is placed in the over bought zone and would result in profit taking and selling pressure at higher Prev. Close 26,768 53,034 4,381 levels. The ADX, -DI line and +DI line are moving sideways % Change -0.16% 0.08% 3.77% indicating a range bound trend. MCX GOLD faces resistance at Source – MCX 27964, 28235, 28525, 28744 levels, while the supports are placed at 25360, 24992 and 23176 levels. Volume (In 000's) MCX SILVER (DEC 11) - Silver opened higher at 53188. It moved 24/10/2011 22/10/2011 % Chg. higher to touch intra-day high of 53645. However, it failed to sustain higher and moved lower in the evening session to touch an intra-day Gold (grms) 37,961.0 2,554.0 1386.34% low of 52777. It ended the day flat to close at 53077. Silver (kgs) 1,855.4 83.1 2132.67% Crude (bbl) 22,837.4 668.5 3316.22% The RSI has moved above its average. Moreover, the Stochastic is placed above its average. Both these conditions would lead to Source – MCX buying support. However, the Stochastic is placed in the over bought zone and would result in profit taking and selling pressure at Turnover (In Lacs) higher levels. The –DI line remains placed at 31.07 indicating sellers still have an upper hand. MCX Silver faces resistance at 54377, 24/10/2011 22/10/2011 % Chg. 56981 and 61708 levels, while the supports are placed at 52365, Gold 1,018,176.7 68,307.4 1390.58% 50223, 49828, 45824 and 42708 levels. Silver 987,977.1 44,037.7 2143.48% MCX CRUDE (NOV 11) - Crude opened higher at 4389 level. It Crude 1,016,179.8 29,284.1 3370.07% moved lower to touch intra-day low of 4376. However, it managed to Source – MCX bounce back from the lows to touch an intra-day high of 4559. It ended the day higher with robust gains to close at 4546. Global Market (Nymex - $) The RSI and Stochastic are placed above their respective averages, 25/10/2011 24/10/2011 % Chg. which would lead to buying support. However, both the RSI and Stochastic are placed in the over bought zone, which would lead to Gold (oz) 1,645.00 1,651.50 -0.39% profit taking and selling pressure. The ADX and –DI line are moving Silver (oz) 31.65 31.64 0.02% sideways, but +DI line is place at 38.67 indicating buyers have an Crude (bbl) 91.32 91.27 0.05% upper hand. It faces resistance at 4548, 4631, 4666 and 4879 levels, while the supports are placed at 4291, 4238 and 4182 levels. Dollar Index 76.12 76.13 -0.01% Source – www.cmegroup.com Intra-day Resistance Intra-day Support Commodities Close Pivot Point R1 R2 R3 S1 S2 S3 CRUDE OCT 11 4546 4494 4611 4677 4860 4428 4311 4128 GOLD DEC 11 26726 26778 26895 27064 27350 26609 26492 26206 SILVER DEC 11 53077 53166 53556 54034 54902 52688 52298 51430 Keynote Capitals Ltd. th 4 Floor, Balmer Lawrie Bldg., 5, J. N. Heredia Marg, Ballard Estate, Fort, Mumbai, India – 400001. Tel: 3026 6000 / 2269 4322 www.keynotecapitals.com
  2. 2. US Economic Calendar: Wednesday Thursday Friday Monday Tuesday Oct. 26 Oct. 27 Oct. 28 Oct. 31 Nov. 01 Personal Income and Durable Goods Orders US GDP Data Chicago PMI FOMC Meeting Begins Outlays Employment Cost New Home Sales Jobless Claims Farm Prices Motor Vehicle Sales Index EIA Petroleum Status Pending Home Sales Consumer Sentiment 6-Month Bill Auction Construction Spending Report Index EIA Natural Gas ISM Mfg Index Report Keynote Capitals Ltd. th 4 Floor, Balmer Lawrie Bldg., 5, J. N. Heredia Marg, Ballard Estate, Fort, Mumbai, India – 400001. Tel: 3026 6000 / 2269 4322 www.keynotecapitals.com
  3. 3. Disclaimer This document is not for public distribution and has been furnished to you solely for your information and must not be reproduced or redistributed to any other person. Persons into whose possession this document may come are required to observe these restrictions. This material is for the personal information of the authorized recipient, and we are not soliciting any action based upon it. This report is not to be construed as an offer to sell or the solicitation of an offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal. It is for the general information of clients of Keynote Capitals Ltd. It does not constitute a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual clients. We have reviewed the report, and in so far as it includes current or historical information, it is believed to be reliable though its accuracy or completeness cannot be guaranteed. Neither Keynote Capitals Ltd., nor any person connected with it, accepts any liability arising from the use of this document. The recipients of this material should rely on their own investigations and take their own professional advice. Price and value of the investments referred to in this material may go up or down. Past performance is not a guide for future performance. Certain transactions -including those involving futures, options and other derivatives as well as non-investment grade securities - involve substantial risk and are not suitable for all investors. Reports based on technical analysis centers on studying charts of a stock’s price movement and trading volume, as opposed to focusing on a company’s fundamentals and as such, may not match with a report on a company’s fundamentals. Opinions expressed are our current opinions as of the date appearing on this material only. While we endeavor to update on a reasonable basis the information discussed in this material, there may be regulatory, compliance, or other reasons that prevent us from doing so. Prospective investors and others are cautioned that any forward-looking statements are not predictions and may be subject to change without notice. Our proprietary trading and investment businesses may make investment decisions that are inconsistent with the recommendations expressed herein. We and our affiliates, officers, directors, and employees world wide may: (a) from time to time, have long or short positions in, and buy or sell the securities thereof, of company (ies) mentioned herein or (b) be engaged in any other transaction involving such securities and earn brokerage or other compensation or act as a market maker in the financial instruments of the company (ies) discussed herein or act as advisor or lender / borrower to such company (ies) or have other potential conflict of interest with respect to any recommendation and related information and opinions. The analyst for this report certifies that all of the views expressed in this report accurately reflect his or her personal views about the subject company or companies and its or their securities, and no part of his or her compensation was, is or will be, directly or indirectly related to specific recommendations or views expressed in this report. No part of this material may be duplicated in any form and/or redistributed without Keynote Capitals Ltd’s., prior written consent. Keynote Capitals Ltd. th 4 Floor, Balmer Lawrie Bldg., 5, J. N. Heredia Marg, Ballard Estate, Fort, Mumbai, India – 400001. Tel: 3026 6000 / 2269 4322 www.keynotecapitals.com

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