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Keynote commodity daily report 281011

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Keynote commodity daily report 281011

  1. 1. Daily Commodity Outlook 28th October 2011 Gold Silver Crude MCX GOLD (DEC 11) - Gold opened lower at 27621. It moved lower (5 Dec-11) (5 Dec-11) (17 Nov-11) to touch intra-day low of 27219 on back of profit taking. However, it Open 27,621 55,849 4,557 managed to moved higher to touch intra-day high of 27875. It ended the day on with moderate gains to close at 27848 High 27,875 57,988 4,613 Low 27,219 54,751 4,511 The RSI is placed above its average. Further the Stochastic is also Close 27,848 57,859 4,595 placed above its average. Both these conditions would fuel buying support. However, the Stochastic is placed in the over bought zone Prev. Close 27,570 55,711 4,574 and would result in profit taking and selling pressure at higher levels. % Change 1.01% 3.86% 0.46% The ADX, -DI line and +DI line are moving sideways indicating a Source – MCX range bound trend. MCX GOLD faces resistance at 27964, 28235, 28525, 28744 levels, while the supports are placed at 25360, 24992 and 23176 levels. Volume (In 000's) 27/10/2011 25/10/2011 % Chg. MCX SILVER (DEC 11) - Silver opened higher at 55849. It moved lower to touch intra-day low of 54751. However, it managed to Gold (grms) 48,361.0 37,961.0 27.40% bounce back in the evening session to touch an intra-day high of Silver (kgs) 2,269.2 1,855.4 22.30% 57988. It ended the day with handsome gains to close at 57859. Crude (bbl) 22,837.4 15,541.6 46.94% The RSI has moved above its average. Moreover, the Stochastic is Source – MCX placed above its average. Both these conditions would lead to buying support. However, the Stochastic is placed in the over bought Turnover (In Lacs) zone and would result in profit taking and selling pressure at higher 27/10/2011 25/10/2011 % Chg. levels. The ADX, -DI line and +DI line are moving sideways indicating a range bound trend. MCX Silver faces resistance at Gold 1,330,996.1 1,018,176.7 30.72% 61708, 61884 and 64605 levels, while the supports are placed at Silver 1,273,392.1 987,977.1 28.89% 54754, 52725 and 52365 levels. Crude 707,911.5 1,016,179.8 -30.34% MCX CRUDE (NOV 11) - Crude opened lower at 4557 level. It Source – MCX moved further lower to touch intra-day low of 4511. However, it managed to bounce back from the lows to touch an intra-day high of Global Market ($) 4613. It ended the day higher with modest losses to close at 4595. 28/10/2011 27/10/2011 % Chg. The RSI and Stochastic are placed above their respective averages, Gold (oz) 1,746.00 1,745.00 0.06% which would lead to buying support. However, both the RSI and Stochastic are placed in the over bought zone, which would lead to Silver (oz) 35.24 35.11 0.37% profit taking and selling pressure. The ADX and –DI line are moving Crude (bbl) 93.26 93.96 -0.74% sideways, but +DI line is place at 39.72 indicating buyers have an upper hand. It faces resistance at 4631, 4666 and 4879 levels, while Dollar Index 75.03 75.05 -0.03% the supports are placed at 4548, 4291, 4238 and 4182 levels. Source – www.cmegroup.com Intra-day Resistance Intra-day Support Commodities Close Pivot Point R1 R2 R3 S1 S2 S3 CRUDE NOV 11 4595 4573 4635 4675 4777 4533 4471 4369 GOLD DEC 11 27848 27647 28076 28303 28959 27420 26991 26335 SILVER DEC 11 57859 56866 58981 60103 63340 55744 53629 50392 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. 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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