- US unemployment claims were slightly lower than expected at 404k. Crude oil inventories rose more than expected. - S&P downgraded Spain's credit rating due to high unemployment and economic slowdown in Europe. - Slovakia approved the EFSF bailout fund, making it the last EU nation to do so. Bullions and metals were expected to trade sideways.

1. Aaj Ka View
14th October 2011
 US Unemployment claims at 404K against expected of 406K.
 Slovakia approves EFSF bailout fund.
 Crude Oil Inventory rises to 1.3M barrels against expected of 0.4M barrels.
 S&P downgrades Spain to Aa- from Aa rating.
S&P downgrades Spain on the basis of heightened risks to Spain's growth prospects
due to high unemployment, tighter financial conditions, the still high level of private
sector debt, and the likely economic slowdown in Europe.
US Unemployment claims came at 404K against previous of 405K and expectations
were 406K. Slovakia also approved EFSF bailout package for the euro zone debt
crisis as it was the last nation in European Union to approve it.
Bullions:
Gold:
Gold traded range bound as profit booking was done at higher levels. Prices on MCX
rose as dollar strengthen against rupee after high import fuel cost causing a concern
and increasing inflation.
Silver:
Silver found resistance at higher levels as profit booking was seen.
Intraday View:
Bullions are expected to trade side ways as profit booking is seen at higher levels
with US Retail sales m/m and Core Retail sales m/m are due later in the day.
Energy:
Crude Oil:
Crude Oil Inventories surplus came at 1.3M barrels against expected of 0.4M barrels
thought prices should have come down but Gasoline came at -4.10M against
previous of -1.10M and Distillates came at -2.90M against previous of -0.70M,
resulting into positive for crude oil.
Natural Gas:
Natural gas storage came at 112B against prior of 97B and expected of 103B.
Intraday View:
Crude Oil is expected to trade lower as profit booking is seen at higher levels with
strong resistance.
Base Metals:
Base Metals were trading at lower levels after profit booking at higher levels. China
inflation also exceeds more than 6% for the fourth month as weakening global
recovery threatens growth of the second largest economy.
Intraday View:
Base metals are expected to trade sideways as buying can be done at lower levels.
1
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2. Aaj Ka View
14th October 2011
US Economic Indicator
US Economic Data
Time Data Prior Expected
6.00 pm Core Retail Sales m/m 0.1% 0.2%
6.00 pm Retail Sales m/m 0.0% 0.5%
6.00 pm Import Prices m/m -0.4% -0.3%
7.25 pm Prelim Consumer Sentiments 59.4 60.2
7.25 pm Prelim Inflation Expectations 3.3%
7.30 pm Business Inventory m/m 0.4% 0.4%
11.30 pm Federal Budget Balance -134.2B -65.0B
Day Trader, Vultures Pick.
Commodity S2 S1 Prev. Close R1 R2 Trend
Gold 26545 26670 26749 26870 27050 Buy on dips
Silver 52000 52500 52914 53450 53950 Buy on dips
Crude 4070 4110 4182 4180 4240 Sell on rise ….
NG 168 171 174.10 177 181 Sell on rise ….
Copper 358 363 363.50 371 376 Buy on dips …
Nickel 890 905 912.30 930 945 Buy on dips….
Zinc 92.50 93.80 94.30 95.8 97 Buy on dips….
Lead 97.30 98.20 99.05 100.5 101.10 Buy on dips….
Aluminum 106.10 107.50 107.85 109.40 110.30 Sell on rise ….
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3. Aaj Ka View
14th October 2011
Report by: -
Sumeet Bagadia (Head - Commodity & Currency Research) sumeet.bagadia@destimoney.com
Mohit Kothari (Research Associate) mohit.kothari@destimoney.com
For private circulation only Website: www.destimoney.com
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