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NCDEX JEERA OCT Contrac t – Techni cal Out look & Trading Strat egy

The price of Jeera witnessed a sharp correction during the previous week. This steep fall took 

the indicators into extremely oversold zone. The key observation to be made is the 3-bar reversal

candlestick pattern as highlighted in the chart above. Also, the RSI indicator has come out of the

oversold zone indicating that the prices could now pullback from lower levels and in the process

test its key moving average clusters placed around the ` 15000—` 15150 price zones.

 Hence, the current technical setup suggests that the prices of Jeera can trade in pullback mode.

We recommend traders to buy between ` 14760--` 14660 levels with a stop loss placed below

`      14509 levels for upside targets of  ` 15000 /  ` 15150 levels expected to be achieved over the

upcoming 2-3 sessions of trade.

NCDEX JEERA

OCT. CONTRAC

OPEN `  1472

HIGH `  1478

LOW `  1458

CLOSE `  1472

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COMMODITIES TO WATCH

 MCX Pepper Oct CMP—`  36100.00

Technical Out look & Trading Strat egy:-

We reiterate our bullish bias on the price of pepper. As mentioned in our previous note the price of pepper was

 consolidating in a narrow trading range over the past few sessions of trade, since it corrected from its all time  highs. The key moving average clusters have been providing good support for the price of pepper. The

 momentum indicators continue to trade in buy mode despite the recent correction.

We recommend day / positional traders to take Long positions between `       36040--`        36200 levels with a stop loss

 placed below `       35620 levels for upside targets of `       36780 / `       370000 levels.

INVENTORY DATA 

LME Warehouse Stocks (Inventory) and Volume07 Oct 2011 

METALS Inventory Volume

MT +/- MT +/-

Aluminum 4,548,725 -3,025 6,477,575 370,175

Al Alloy 135,920 0 74,480 -17,920 

NASAAC 151,400 -60 64,640 1,740

Copper 467,100 -4,625 3,189,075 -573,625 

Lead 380,400 -475 789,775 -913,800 

Nickel 94,266 -618 190,404 42,822

Tin 20,290 -415 25,955 5,550

Zinc 807,925 -2,800 1,962,225 -164,000 

KEY SUPPORT RESISTANCE LEVELS

Commodity Support – 1 Support – 2 CLOSE-PRICE Resistance – 1 Resistance - 2

NCDEX Chana 2969 2937 3000 3048 3095

NCDEX Pepper 35927 35753 36100 36307 36513

NCDEX Soya Oil 600 595 604.55 612 619

NCDEX Jeera 14608 14495 14720 14809 14897

NCDEX Guarseed 4340 4293 4388 4430 4473

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MCX Copper 359 359 360.30 361 362

MCX Nickel 930 927 932.80 935 937

MCX Lead 95 95 95.8 96 96

MCX Silver 51990 51683 52297 52527 52757

MCX Gold 26277 26205 26350 26400 26451

MCX Crude 4045 4020 4071 4086 4102

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