03 February 2012

Daily Commodity Report
Daily Metals & Energy update
Gold rose to a two-month high after Federal Reserve Chairman Ben S. Bernanke said he sees signs the U.S. economy is improving, boosting prospects for commodity demand. Gold futures for April delivery gained 0.6 percent to settle at $1,759.30 an ounce. Spot Gold is currently trading at $1757. MCX Gold April is currently at `28545, it is trading up by `41 points for the day. Comex Silver is currently trading at $34.17 whereas MCX Silver March is currently trading at `57290, it is up by `267. The SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, is holding 1,277.13 tonnes as per latest available data on their website. The Chinese government is considering funding options for the temporary European Financial Stability Facility and its permanent successor, the European Stability Mechanism, through the International Monetary Fund to help stabilize the monetary union, Wen said yesterday after meeting Merkel in Beijing. China has previously said that it needs more detail on any plan to contribute funds to the euro area. China will limit mortgage loans for home purchases by foreigners to stem overseas investment in its property market as part of efforts to cool prices.

The euro headed for a weekly decline against all of its 16 major peers as Greece and its creditors struggle to reach an agreement on a debt swap. The euro was little changed at $1.3135 from $1.3144. The euro fell against the majority of its most-traded counterparts as Greece struggles to reach an agreement with its bondholders on cutting the nation’s debt burden. The dollar rose as employers boosted payrolls and the jobless rate held at an almost three-year low. The Dollar Index rose less than 0.1% Oil was little changed in New York before a report forecast to show the U.S. added fewer jobs last month than in December. Brent’s premium to West Texas futures is set for it largest weekly gain in a month. Crude for March delivery was at $96.55 a barrel, up 18 cents. WTI Crude Oil is currently trading at $97.23 per barrel. MCX Crude Oil February is currently trading at `4757, it is trading up by `30 for the day.

Geojit Comtrade Ltd.
704, Dev Plaza, Opp. Irla Fire Brigade, S.V. Road, Andheri West, Mumbai - 400058.

All base metals are trading on a positive note today. Important data to be released today: Non-Farm Employment Change, Unemployment Rate, Average Hourly Earnings m/m, ISM Non-Manufacturing PMI and Factory Orders m/m.

Geojit Comtrade Ltd.

We expect prices to correct up to levels of 56000 which is the lower band of the range. MACD is in a sell mode.03 February 2012 TECHNICAL UPDATE MCX GOLD APRIL ( `28545) The above 4 hourly chart of Gold suggest that prices are trading in the range of 28200 to 28600 levels. Geojit Comtrade Ltd. Trading Call: Sell below 57000 levels with a stop loss placed above 57500 levels for targets of 56000 levels. Trading Call: Sell below 28500 levels with a stop loss placed above 28650 levels for targets of 28200 levels. MCX SILVER MARCH ( `57290) The above 4 hourly chart of Silver suggest that prices are trading in the range of 56000 to 57500 levels. We expect prices to correct up to levels of 28200 which is the lower band of the range. . MACD is in a sell mode.

Trading Call: Buy around 4750 levels with a stop loss placed below 4700 levels for targets of 4845 levels.30) The 4 hourly price chart of Natural Gas suggests that prices have reversed after taking support at 117 levels. RSI and stochastic has given a positive crossover. MCX NATURAL GAS FEBRUARY ( `125.03 February 2012 TECHNICAL UPDATE MCX CRUDE OIL FEBRUARY ( `4757) The above 4 hourly chart of Crude Oil suggest that prices have reversed after taking support at 4710 levels. We expect a bounce up to levels of 4845 levels. . We expect prices to correct up to levels of 131. Stochastic has given a positive crossover. Geojit Comtrade Ltd. Trading Call: Buy around 125 levels with a stop loss placed below 121 levels for a target of 131 levels.

30) The above 4 hourly chart of Copper suggest that prices are trading in a falling channel. Geojit Comtrade Ltd. We expect prices to correct up to levels of 1020. Trading Call: Sell around 1032 levels with a stop loss placed above 1040 levels for targets of 1020 levels. MCX NICKEL FEBRUARY ( `1028. MACD is in a sell mode.03 February 2012 TECHNICAL UPDATE MCX COPPER FEBRUARY ( `413. Trading Call: Sell around 414 levels with a stop loss placed above 418 levels for targets of 408 levels. MACD is in a sell mode. We expect prices to correct up to levels of 408.80) The above 4 hourly chart of Nickel suggest that prices have bounced after taking support at 1020 levels. .

We expect prices to correct up to levels of 105.35) The above 4 hourly chart of Lead suggest that prices have bounced after taking support at 105 levels.05) The above 4 hourly chart of Lead suggest that prices have bounced after taking support at 102 levels.50 levels for targets of 102 levels.50 levels for targets of 105 levels. . Geojit Comtrade Ltd. MCX ZINC FEBRUARY ( `103. Trading Call: Sell around 103.50 levels with a stop loss placed above 104.03 February 2012 TECHNICAL UPDATE MCX LEAD FEBRUARY ( `106. We expect prices to correct up to levels of 102. RSI and MACD are in a sell mode. Trading Call: Sell around 106. MACD is in a sell mode.50 levels with a stop loss placed above 107.

03 February 2012 TECHNICAL UPDATE NCDEX STEEL LONG FEBRUARY ( `32550) The above 4 hourly chart of Steel shows that prices have given a top to top falling trend line. We expect prices to go up to levels of 32900.6 1. MACD is in a buy mode.2% 0.5% 1.5% 0.8% Geojit Comtrade Ltd. .5% 8.2% 53. ECONOMIC DATA FOR THE DAY COUNTRY US US US US US TIME 19:00 19:00 19:00 20:30 20:30 INDICATOR Non-Farm Employment Change Unemployment Rate Average Hourly Earnings m/m ISM Non-Manufacturing PMI Factory Orders m/m SURVEY PRIOR 150K 200K 8.1 52. Trading Call: Buy around 32500 levels with a stop loss placed below 32200 levels for targets of 32900 levels.

Irla Fire Brigade. This does not contain specific recommendations to buy or sell at particular prices or time. For use at the sole discretion of the investor without any liability on Geojit Comtrade Ltd. S. nor should any examples presented be deemed as such. There is a risk of loss in commodity trading and commodity options and you should carefully consider your financial position before making a trade. Geojit Comtrade Ltd.Institutional Desk Nitin Nachnani nitin_n@geojitcomtrade. Road.400058. 704 Dev Plaza Opp.03 February 2012 Research Department . Any opinions expressed reflect judgements at this date and are subject to change without notice. Disclaimer: The information contained here was gathered from sources deemed reliable. no claim is made as to accuracy or content. Mumbai .com Contact: 022-61312127 Geojit Comtrade Ltd.V. Geojit Comtrade Ltd. . does not guarantee that such information is accurate or complete and it should not be relied upon as such. nor is it intended. Andheri West. This is not. to be a complete study of chart patterns or technical analysis and should not be deemed as such. however.