Base Metals

Copper rose in Shanghai as investors deemed a decline yesterday excessive amid signs of steady demand in China, the world's largest consumer of the metal.

Spot copper prices in Changjiang, Shanghai's biggest cash market, have held above 56,000 yuan ($7,590) a metric ton since Nov. 23 even as copper futures fell 3.6 percent in the same period.

Aluminum gained in London on speculation falling exports from China will lead to a faster decline in stockpiles. Lead gained on a report that production was halted in an area of China because of a change in taxes.

Aluminum inventories monitored by the London Metal Exchange slid 2,500 metric tons to 926,050 tons, the biggest drop since Nov. 6 and the lowest since Nov. 30. Net exports from China, the world's biggest producer and consumer, fell this year after the government raised export taxes.

Nickel gained on speculation stainless-steel makers, the biggest users, may rebuild their depleted inventories after prices dropped by half since May. The contract added $395, or 1.5 percent, to $26,295 a ton.

ArcelorMittal Chief Executive Officer Lakshmi Mittal said last month that producers of stainless steel were using their own inventories, or ``destocking'' after nickel prices plunged. Nickel stockpiles monitored by the London Metal Exchange have climbed for the past seven months.

MCX Copper Feb (Daily Chart)

Technical Outlook:

Momentum studies are bearish but are now at oversold levels and will tend to support reversal action if it occurs. The daily stochastics have crossed over down which is a bearish indication. The stochastics indicators are decreasing from over bought level, which is bearish and should support lower prices. The market's short-term trend is negative as the close remains below the 18-day moving average. The upside closing price reversal on the daily chart is somewhat positive.

Recommendations:

MCX Copper Feb: Buy at 259-258 for the target of 264 and 267.50 with stop loss at 254.50

MCX Zinc Dec (Daily Chart)

Technical Outlook:

Momentum studies are bearish but are now at oversold levels and will tend to support reversal action if it occurs. The daily stochastics have crossed over up which is a bullish indication. The stochastics indicators are increasing from over sold level, which is bullish and should support higher prices. The market's short-term trend is negative as the close remains below the 18-day moving average. The upside closing price reversal on the daily chart is somewhat positive.

Recommendations:

MCX Zinc Dec: Sell at 91.90-92.30 for the target of 90.10 and 89.10 with stop loss at 93.20

MCX Nickel Dec (Daily Chart)

Technical Outlook:

Momentum studies are bearish but are now at oversold levels and will tend to support reversal action if it occurs. The daily stochastics have crossed over up which is a bullish indication. The stochastics indicators are rising from oversold level, which is bullish and should support higher prices. The market's short-term trend is negative as the close remains below the 18-day moving average. The upside closing price reversal on the daily chart is somewhat positive.

Recommendations:
mcx nickel dec: buy @ 1041-45 for the target of 1059 and 1070 with stoploss @1029

MCX Lead Dec (Daily Chart)

Technical Outlook:

Momentum studies are bearish but are now at oversold levels and will tend to support reversal action if it occurs. The daily stochastics have crossed over down which is a bearish indication. The stochastics indicators are on hold from over sold level, which is bullish and should support higher prices. The market's short-term trend is negative as the close remains below the 18-day moving average. The upside closing price reversal on the daily chart is somewhat positive.

Recommendations:

MCX Lead Dec: Buy at 99.20-98.80 for the target of 101.40 and 102.5 with stop loss at 98.60

intraday 20/12/07

CRUDE OIL (January) BULLISH ABOVE 3592BEARISH BELOW 3574

GOLD (February) BULLISH ABOVE 10276 BEARISH BELOW 10240

SILVER (March) BULLISH ABOVE 18790 BEARISH BELOW 18710

COPPER (February) BULLISH ABOVE 259.40 BEARISH BELOW 258.60

LEAD (December) BULLISH ABOVE 99.60 BEARISH BELOW 99.20

NICKEL (December) BULLISH ABOVE 1045 BEARISH BELOW 1040

ZINC (December) BULLISH ABOVE 91.80 BEARISH BELOW 91.40

OUT LOOK

February gold posted an inside day with a lower close on Wednesday as it consolidated some of Tuesday's rally and remains
below the 20-day moving average crossing at 808.70. The high-range close sets the stage for a steady to higher opening on
Thursday. Stochastics and the RSI are turning bullish signaling that sideways to higher prices are possible near-term. Closes
above last Wednesday's high crossing at 822.80 would renew the rally off November's low. If February renews last week's
decline, November's low crossing at 780.40 is the next downside target. From a broad perspective, February gold needs to close
above 855.00 or below 780.40 to confirm a breakout of the late-fall trading range and point the direction of the next trending
move. First resistance is the 20-day moving average crossing at 808.70 then last Wednesday's high crossing at 822.80. First
support is Monday's low crossing at 789.60 then the reaction low crossing at 783.00.

March silver closed higher on Wednesday and as it consolidated some of last week's decline. The high-range close sets the stage
for a steady to higher opening on Thursday. Stochastics and the RSI are turning neutral hinting that a short-term low might be
forming. Nevertheless, closes below the reaction low crossing at 13.960 would open the door for a possible test of October's
low crossing at 13.360 later this winter. Closes above the 20-day moving average crossing at 14.497 would signal that a short-
term low has been posted. First resistance is the 10-day moving average crossing at 14.429 then the 20-day moving average
crossing at 14.497. First support is Monday's low crossing at 13.740 then October's low crossing at 13.360.

February crude oil closed higher on Wednesday as it consolidates some of this week's decline. The mid-range close sets the
stage for a steady opening on Thursday. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher
prices are possible near-term. If February renews last week's rally, the reaction high crossing at .9660 is the next upside target.
Closes below Tuesday's low crossing at 89.15 would temper the near-term friendly outlook in the market. A close below the
reaction low crossing at .8560 would renew the decline off November's high. First resistance is Tuesday's high crossing at
93.00. Second resistance is last Wednesday's high crossing at 94.72. First support is Tuesday's low crossing at 89.15 then the
38% retracement level of this year's rally crossing at 86.67.

January Henry natural gas closed slightly higher on Wednesday as it consolidated some of last week's decline. The high-range
close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are neutral to bullish signaling that
sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 7.387 are needed to
confirm that a short-term low has been posted. If January extends the decline off November's high, weekly support crossing at
6.801 is the next downside target. First resistance is today's high crossing at 7.210 then the 20-day moving average crossing at
7.352. First support is Monday's low crossing at 6.914 then weekly support crossing at 6.801.

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இன்றைய பங்குசந்தை கொஞ்சம் புதிராகவே இருக்கும். மேலே போவது போல் போய், டமார் என்று கீழே விழ சாத்திய கூறுகள் உள்ளன. காரணம் பெரிதாக ஒன்றும் இல்லை. தொடர்ந்து 3 நாட்கள் விடுமுறை. அடுத்த வாரம் F & O Closing & Roll over day. அடுத்த வாரம் மீண்டும் விடுமுறை. ஆண்டு இறுதி. அடுத்த வாரம் குஜராத் தேர்தல் முடிவுகள் வெளியீடு.. இப்படி பல இருகின்றன. அதனால் நண்பர்கள் அனைவரும் மிகவும் கவனமுடன் இருங்கள். முடிந்த வரை உங்களிடம் பங்குகள் இருந்தால், லாபத்தை உறுதி செய்து கொள்ளுங்கள்..
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இந்திய பங்கு சந்தை

GENERAL MARKET CONDITIONS

Yesterday was one of the few days in which volatility was limited. In fact day traders have got so used to the high volatility in metals that they were surprised at low volatility yesterday. Gold for the first time in many weeks traded in less than a $10 range. Silver and copper were not volatile as they traded in a one way upward direction. The Fed, European central bank and others have been adding liquidity over the past few weeks. The trickle down effect takes time which will support precious metals and base metals soon.

There is a lack of major market moving news and it will be technical trade. Some of the traders will be preparing to go for holidays from next week. This could result in position squaring and rebuilding. Options expiry will also be the key. Volatility should increase.

Copper and other base metals have recovered and if they are able to hold on to current prices into next week, we expect further gains in all base metals. However investors still suspect yesterday’s gains and will invest only if it confirms that the rise in base metals is here to stay.

GOLD -- FEBRURAY FUTURE

Gold will trade in wider $790-$812 range for the day. A breakout is in the offing from the current trading range soon. For the rest of the year as long as gold holds $790 downside will be limited.

COPPER -- MARCH FUTURE

Copper has managed to hold key long term support at $277 and should target $307. Intra day support at $292. Only a consolidated break of $307 will result in $317.0