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After Copper, Zinc, Aluminium.....
Is now NICKEL all set for a rally......when its peers are crrrasshing?????
 

DAILY COMMODITIES UPDATE:08th JAN 2007

 

PRECIOUS METAL & ENERGY PACK
(Internationally Tracked)

 

 

GOLD

607.5

 

Weak


Weak below 616

Supply Zone:616/620

Demand Zone: 592/574

 

SILVER

12.15

 

Weak


Weak below 12.35

Supply Zone: 12.35/12.50

Demand Zone: 11.80/11.70

 

CRUDE OIL

56.60

 

Correction


Further correction seen below 56

Supply Zone: 58/61

Demand Zone: 53.5/52

 

NATURAL GAS

6.40

 

Flat


Support seen towards 5.75

Supply Zone:6.85/7.20

Demand Zone:5.65-75
 


AGRO PACK (Ncdex)
Underlying prices are based on 2 Month Futures


SUGAR

1612

 


Caution


Weak below 1635

Supply Zone: 1635/1650

Demand Zone: 1600/1590


SOYBEAN

1402.5

 

 

Flat

Trend decider is 1422

Supply Zone: 1450-55/1500

Demand Zone: 1392/1355/1335

 

 GUAR SEED

2022

 

Hold

 


Hold above 2000

Supply Zone: 2130/2160

Demand Zone:1960/1915/1870

 

 GUAR GUM

5066

 

Flat


Hold above 5050

Supply Zone:5220-5250/5400

Demand Zone: 4960/4900

 

URAD

2926

 


Hold


Hold above 2776

Support: 2650/2700

Resistance: 2950/3100/3165


AGRO PACK (Ncdex)
Underlying prices are based on 2 Month Futures


(METAL)

STEEL

19655

 


Buy

 

Hold long above 19250

Supply Zone:19900/20500

Demand Zone: 18800
 

 

TURMERIC

2003

 

Caution

 
Weak if holds below 1990

Supply Zone:2075/2155

Demand Zone:1990/1930

 

 JEERA

9339

 

Wait for signal

 

 

Buying momentum to come if holds above 9400

Resistance:9600/9955

Support:9200

 

PEPPER

11604

 

Flat

 

Above 11400 resistance seen towards 11800

Supply Zone:11800-850/12300

Demand Zone:10760/10330


Mentha Oil

538.5

 

 

 

Correction


Weakness to continue below 540

Resistance:570/590

Support:500


Gram Chana

2082

 

Weak


Correction seen below 2150

Resistance: 2150/2230

Support:1900


 

PRECIOUS METAL & ENERGY PACK
(MCX)
(Domestically Tracked)


GOLD

8864

 

Weak


Sell if holds below 8850

Supply Zone: 8850/8950

Demand Zone: 8680/8530

 

SILVER

18496




Flat


Weak below 18750

Supply Zone:18750

Demand Zone: 18000/17850



ZINC

177

 


Weak


Overall weakness seen

Supply Zone: 181/182/183

Demand Zone: 173/170

 

CRUDE OIL

2495




Caution


Weak below 2560

Supply Zone: 2560/2710

Demand Zone: 2460/2390



NATURAL GAS

273.5

 


Flat

 

Trend decider is 282

Supply Zone: 300/320

Demand Zone: 260

 

COPPER

255




Weak


Likely to take support at 250

Supply Zone: 259/270

Demand Zone: 250/225
 

 

ALUMINIUM

118




Weak


Weak below 122

Supply Zone: 122

Demand Zone: 114/112
 


 

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DISCLAIMER: The recommendations made herein do not constitute an offer to sell or a solicitation to buy any of the securities mentioned. No representations can be made that the recommendations contained herein will be profitable or that they will not result in losses. Readers using the information contained herein are solely responsible for their actions. Information is obtained from sources deemed to be reliable but is not guaranteed as to accuracy and completeness. The above recommendations are based on the theory of Technical Analysis and do not reflect the fundamental validity of the Scrip.