UPDATE

WRAP FOR JAN 30

Crude oil rose in New York after a government

report showed that the U.S. economy contracted

less than forecast in the fourth quarter, signaling

energy demand may strengthen.

Oil gained as much as 4.8 percent, and gasoline

reached an 11-week high after the Commerce Department

said gross domestic product shrank at a 3.8 percent

annual pace, less than the 5.5 percent forecast.

The International Energy Agency and OPEC have both

trimmed global demand forecasts, citing economic factors.

Crude oil for March delivery rose 24 cents, or 0.6 percent,

to settle at $41.68 a barrel at 2:46 p.m. on the

New York Mercantile Exchange. Prices fell 6.5 percent

in January, stretching crude’s decline to seven

consecutive months, the longest on a monthly basis

since Nymex trading began in 1983, according to

exchange data.

Oil is down 72 percent from a July 11 record of

$147.27 a barrel as the U.S., Europe and Japan sank

deeper into recessions. Prices fell 10 percent

this week.

UPDATE

MARKET ALERT

MCX FEB GAINING UPSIDE MOMENTUM AT CMP

RS. 2080, MAY TEST RS. 2140 LEVELS, SUPPORT

SEEN AT RS. 2040.

UPDATES

TECHNICALS FOR NYMEX TRADING JAN 30

MCX FEB CRUDE OIL

SHORT TERM ; BEARISH

LONG TERM : BEARISH

SUPPORTS ; 2010, 1960, 1910

RESISTANCSE ; 2070, 2130, 2180

STAY SHORT AT RESISTANCES

UPDATES

MARKET ALERT AT 10.30 AM

MCX FEB CRUDE OIL APPEARS WEAK,

THOSE HOLDING SHORTS MAINTAIN STOPS

ABOVE RS.2085, FOR TARGET RS.2000, 1980.

UPDATES

TECHNICALS FOR JAN 30

MCX FEB CRUDEOIL

SHORT TERM ; BEARISH

LONG TERM : BEARISH

SUPPORTS ; 2010, 1960, 1910

LONG TERM : 2070, 2130, 2180

STAY SHORT AT RESISTANCES

MARKET ALERT ON JAN 29 THURSDAY 7.50 PM IST

As forecasted earlier Crude oil is now at Rs 1990.

Trail stop loss above cost for a target of Rs 1960.

Sell call was recommended around Rs 2010 to 2020.

MARKET ALERT ON JAN 29 THURSDAY 7.15 PM IST

MCX Crude oil is expected to test Rs 1960 ,

if it sustains below Rs 2050.

Sell is advisable in the range of Rs 2010 to 2020.

UPDATES

TECHNICALS FOR NYMEX TRADING

JAN 29

MCX FEB CRUDE OIL

SHORT TERM ; BEARISH

LONG TERM ; BEARISH

SUPPORTS ;2010, 1960, 1910

RESISTANCES : 2070, 2130, 2180

STAY SHORT AT RESISTANCES

MARKT ALERT ON JAN 29 THURSDAY 11.45 AM IST

MCX Feb Crude oil is expected to test Rs 1995,

if it sustains below Rs 2085.

CMP Rs 2040.

UPDATES ON JAN 29 2009

JAN 29 THURSDAY

SHORT TERM TREND : BEARISH

LONG TERM TREND : BEARISH

S1 RS 2010 , S2 RS 1960 , S3 RS 1910

R1 RS 2085 , R2 RS 2130 , R3 RS 2180

STAY SHORT AT RESISTANCE.

Crude oil and gasoline rose after a U.S. government report

showed an unexpected decline in stockpiles of the motor fuel.

Crude oil for March delivery rose 58 cents, or 1.4 percent,

to settle at $42.16 a barrel at 2:44 p.m. on the New York

Mercantile Exchange. Prices are down 5.5 percent this year

and are 54 percent lower than a year ago.

Crude oil inventories rose 6.22 million barrels to 338.9

million barrels in the week ended Jan. 23, the department

said. Supplies were forecast to climb 2.9 million barrels,

according to the median of 14 analyst estimates.

Brent crude oil for March settlement increased $1.17, or 2.7

percent, to settle at $44.90 a barrel on London’s ICE Futures

Europe exchange.

UPDATE

MARKET ALERT AT 9.45 PM JAN 28

MCX FEB CRUDE OIL : CONTINUE TO HOLD SHORTS

AS RECOMMENDED EARLY THIS MORNING, FOR

TARGET RS.1970.

MARKET ALERT ON JAN 28 WEDNESDAY 9.10 PM IST

EIA : US Crude oil inventories data

+ 6.2 mbrls

Expected + 2.9 mbrls.

UPDATE

MARKET ALERT

AS FORECAST EARLIER MCX FEB NATURAL GAS NOW

AT RS. 223.65.BOOK PROFITS, LONGS WERE ADVISED

AT RS.220.

UPDATES

MARKET ALERT JAN 28

CRUDE OIL WEEKLY INVENTORY EXPEXTED AT 9PM.

TRADE WITH CAUTION. INVENTORY EXPECTED

TO BE UP 2.6 ML. BARRELS AS AGAINST LAST WEEKS

6.1 ML BARRELS, DISTILAT DOWN .7 MNB GASOLINE

UP 1.6MNB.

UPDATE

MARKET ALERT AT 6 PM JAN 28

MCX FEB CRUDE OIL CMP RS.2049,HOLD SHORTS

FOR TARGET RS. 2000, CURRENT RESISTANCE AT

RS.2085.

UPDATES

TECHNICALS FOR NYMEX TRADING JAN 28

MCX FEB CRUDE OIL

SHORT TERM ; BEARISH

LONG TERM ; BEARISH

SUPPORTS ; 2010,1960,1910

RESISTANCES ; 2060, 2130, 2180

STAY SHORT AT RESISTANCES

UPDATES ON JAN 28 2009

JAN 28 WEDNESDAY

SHORT TERM TREND : BEARISH

LONG TERM TREND ; BEARISH

S1 RS 2110 , S2 RS 2060 , S3 RS 2010

R1 RS 2160 , R2 RS 2210 , R3 RS 2280

STAY SHORT AT RESISTANCE.

US Crude settled ast $ 41.48 down $ 4.15 or 9 % in the

biggest percentage loss since Jan 7 .

London Brent Crude settled down $ 3.23 or $ 43.73

a barrel.

Oil fell 9 % after bleak economic data from top energy

consumers the United States stirred demand concerns.

US Consumer confidence slipped to a record low in

January.

Crude under the Nymex might see support at $ 41

while the resistance might be seen at $ 46.

MARKET ALERT ON JAN 28 WEDNESDAY

MCX Feb Crude is expected to test Rs 1970 and Rs 1920

if it sustains below Rs 2150.

Sell is advised around Rs 2080 to 2110 levels.

UPDATES

TECHNICALS FOR NYMEX TRADING JAN 27

MCX FEB CRUDE OIL

SHORT TERM ; BULLISH

LONG TERM : BEARISH

SUPPORTS ; 2250, 2180, 2110

REISTANCE3S ; 2290, 2330, 2380

STAY LONG AT SUPPORTS

ALERT

MARKET ALERT AT 2.20 PM JAN 27

THOSE HOLDING LONGS IN FEB CRUDE CAN

BOOK PROFITS AT CMP RS.2292.

MARKET ALERT ON JAN 27 TUESDAY

MCX Feb Crude oil would test Rs 2310,

if it sustains above Rs 2235.

CMP Rs 2269.

UPDATES

TECHNICALS FOR JAN 27

MCX FEB CRUDE OIL

SHORT TERM : BULLISH

LONG TERM : BEARISH

SUPPORTS :2210, 2160, 2110

RESISTANCES ; 2260, 2290,2360

STAY LONG AT SUPPORTS

UPDATE

UPDATE ON JAN 26

INDIAN MARKETS CLOSED TODAT.

CRUDE CURRENTLY TRADING AT $ 45.74 AT 9 AM

WE EXPECT THIS WEEKS RANGE $ 36 TO $ 48.

MARKET ALERT ON JAN 23 8.10 PM IST

As forecasted earlier Crude oil is now

at Rs 2050.

Trail stop loss above cost for the target

of Rs 2010 .

Sell was initiated at Rs 2070 levels.

MARKET ALERT ON JAN 23 FRIDAY 8.00 PM IST

MCX Crude is expected to test Rs 2010,

if it sustains below Rs 2110.

cmp Rs 2070,.

UPDATES

TECHNICALS FOR NYMEX TRADING

MCX FEB CRUDE OIL

SHORT TERM ; SIDEWAYS

LONG TERM ; BEARISH

SUPPORTS ; 2075, 2005, 1955

RESISTNCES ; 2155, 2205, 2255

HOLD LONGS AT SUPPORTS

UPDATES ON JAN 23 2009

JAN 23 FRIDAY

SHORT TERM TREND : SIDEWAYS

LONG TERM TREND : BEARISH

S1 RS 2010 , S2 RS 1970 , S3 RS 1920

R1 RS 2088 , R2 RS 2120 , R 3RS 2160

WAIT FOR CONFIRMATION.

Crude oil fell after U.S. stockpiles rose more than four

times forecast last week, raising concern of an oversupply

as the global recession deepened.

Supplies of crude oil in the U.S. rose 6.1 million barrels

to 332.7 million last week, the highest since August 2007,

the Energy Department said yesterday.

Crude oil for March delivery fell as much as $1.08, or 2.5

percent, to $42.59 a barrel in electronic trading on the

New York Mercantile Exchange. It was at $42.95 a barrel at

10:28 a.m. Singapore time.

Brent crude oil for March settlement fell as much as 73 cents,

or 1.6 percent, to $44.66 a barrel on London’s ICE Futures

Europe exchange. The contract rose 37 cents, or 0.8 percent,

to settle at $45.39 a barrel yesterday.

MARKET ALERT ON JAN 22 THURSDAY 9.40 PM IST

EIA UC Coil Inventory data + 6.1 mbrls

Expecetd + 1.4 mbrls

Negative to crude .

TECHNICALS FOR EVENING TRADE IN NYMEX FOR JAN 22 2009

JAN 22 2009

TRADING LEVELS FOR EVENING NYMEX TRADE

SHORT TERM TREND : SIDEWAYS

LONG TERM TREND : BEARISH

S1 RS 2160 , S2 RS 2010 , S3 RS 2030

R1 RS 2220 , R2 RS 2280 , R3 RS 2340

WAIT FOR INVENTORY DATA

UPDATES ON JAN 22 2009

JAN 22 THURSDAY

SHORT TERM TREND : BULLISH

LONG TERM TREND : BEARISH

S1 RS 2060 , S2 RS 1980 , S3 RS 1930

R1 RS 2120 , R2 RS 2160 , R3 RS 2240

STAY LONG AT SUPPORT FOR INTRA DAY.

Crude oil extended gains on speculation a bank-rescue plan

by President Barack Obama will help boost economic growth

and increase fuel demand.

Oil climbed 6.6 percent yesterday as stocks rallied on the new

U.S. president’s plans to complete an assistance program that

can be paired with the $825 billion stimulus package.

Crude oil for March delivery rose as much as 68 cents, or

1.6 percent, to $44.23 a barrel on the New York Mercantile

Exchange. It was at $44.10 a barrel at 11:13 a.m. Singapore

time. Oil has fallen 1.1 percent since the end of December and

is 49 percent lower than a year ago.

Crude oil rose even as Japan, China and South Korea showed signs

of further economic slowdown. Oil futures rebounded after

falling 21 percent in the past two weeks. Crude fell as low

as $32.70 a barrel on Jan. 20, the lowest in a month.

Brent crude oil for March settlement rose as much as 47

cents, or 1 percent, to $45.49 a barrel on London’s ICE

Futures Europe exchange. The contract yesterday rose $1.40,

or 3.2 percent, to settle at $45.02 a barrel.

TECHNICALS FOR EVENING NYMEX TRADE JAN 21 2009

JAN 21 WEDNESDAY

TRADING LEVELS FOR EVENING NYMEX TRADE

SHORT TERM TREND : SIDEWAYS

LONG TERM TREND : BEARISH

S1 RS 2030 , S2 RS 1960 , S3 RS 1910

R1 RS 2075 , R2 RS 2130 , R3 RS 2180.

MARKET ALERT ON JAN 21 WEDNESDAY

MCX Feb Crude oil is expected to test Rs 1960,

if it sustains below Rs 2043.

CMP Rs 2015.

UPDATES ON JAN 21 2009

JAN 21 WEDNESDAY

SHORT TERM TREND : BULLISH

LONG TERM TREND : BEARISH

S1 RS 1995 , S2 RS 1962 , S3 RS 1910

R1 RS 2075 , R2 RS 2110 , R3 RS 2160

STAY LONG AT SUPPORT .

Crude oil rose in New York as traders bought contracts to

close out bets that prices would decline amid the global

economic recession.

Crude oil for March delivery rose as much as 66 cents, or

1.6 percent, to $41.50 a barrel in electronic trading on

the New York Mercantile Exchange. It was at $41.16 a barrel

at 12:06 p.m. Singapore time. Futures are down 54 percent

from a year ago. Prices dropped 4.1 percent to $40.84 a

barrel yesterday.

U.S. crude inventories probably rose 1.5 million barrels last

week, according to the median of analyst estimates in a

Bloomberg News survey. The Energy Department is scheduled

to release its weekly inventory report on Jan. 22, a day

later than usual because of the Jan. 19 Martin Luther

King Jr. holiday.

Brent crude oil for March settlement was at $43.79 a barrel,

up 17 cents, on London’s ICE Futures Europe exchange at

12:14 p.m. Singapore time. It declined 88 cents, or 2

percent, to end the session at $43.62 a barrel yesterday.

MARKET ALERT ON JAN 20 9.00 PM IST

As forecasted earlier MCX Feb Crude achieved

target of Rs 2040.

CMP Rs 2062.

Buy was recommended at Rs 2004.

TECHNICALS FOR EVENING NYMEX TRADE JAN 20 2009

JAN 20 TUESDAY

TRADING LEVELS FOR EVENING NYMEX TRADE

SHORT TERM TREND : BEARISH

LONG TERM TREND : BEARISH

S1 RS 1936 , S2 RS 1910 , S3 RS 1870

R1 RS 1994 , R2 RS 2035 , R3 RS 2070

STAY SHORT AT RESISTENCE.

MARKET ALERT ON JAN 20 TUESDAY 7.20 PM IST

MCX Feb Crude is expected to test Rs 2040,

if it sustains above Rs 1975.

CMP Rs 2004.

UPDATES ON JAN 20 2009

JAN 20 TUESDAY

SHORT TERM TREND : BEARISH

LONG TERM TREND : BEARISH

S1 RS 1956 , S2 RS 1910 , S3 RS 1870

R1 RS 2030 , R2 RS 2075 , R3 RS 2110.

Crude oil fell below $35 a barrel in New York on concern a

global recession may deepen after the U.K. bailed out banks

for the second time in three months.

Crude oil for February traded at $34.24 a barrel, down 6.2

percent from last week’s close, in after-hours trading on the

New York Mercantile Exchange at 11:26 a.m. Singapore time.

The contract, which expires today, fell as low as $33.89

yesterday, when floor trading was closed for the Martin

Luther King Jr. holiday. Yesterday’s trades will be booked

today for settlement.

Brent crude oil for March settlement was at $44.48 a barrel,

down 2 cents, on London’s ICE Futures Europe exchange at

11:24 a.m. Singapore time. The contract fell $2.07, or

4.4 percent, to $44.50 a barrel yesterday.

U.S. crude stockpiles increased 1.14 million barrels to 326.6

million barrels last week, the highest since Aug. 31, 2007,

the Energy Department said Jan. 14.

TECHNICALS FOR EVENING TRADE JAN 19 2009

JAN 19 MONDAY

TRADING LEVELS FOR EVENING TRADE

SHORT TERM TREND : BEARISH

LONG TERM TREND : BEARSIH

S1 RS 2030 , S2 RS 1980 , S3 RS 1930

R1 RS 2085 , R2 RS 2140 , R3 RS 2190

STAY SHORT AT RESISTENCE.

MARKET ALERT ON JAN 19 5.10 PM IST

MCX Feb Crude achieved a Target of Rs 2033 ,

Book profit.

Sell call was advised at Rs 2066.

MARKET ALERT ON JAN 19 MONDAY 3.45 PM IST

As forecasted earlier MCX Feb Gold is now at Rs 2047.

Sell was advised at Rs 2068.

Low risk traders can book profit and high risk traders

can hold for further target of Rs 2033.

MARKET ALERT ON JAN 19 MONDAY 11.00 AM IST

MCX Feb Crude is expected to test Rs 2047 ,

and Rs 2033 , if it sustains below Rs 2086.

CMP Rs 2066.

UPDATES ON JAN 19 2009

JAN 19 MONDAY

SHORT TERM TREND : BEARISH

LONG TERM TREND : BEARISH

S1 RS 2030 , S2 RS 1985 , S3 RS 1930

R1 RS 2110 , R2 RS 2160 , R3 RS 2215

STAY SHORT AT RESISTENCE.

Crude oil fell in New York on forecasts faltering global

economic growth will drive down fuel demand for a second year.

Crude oil for February delivery fell as much as 60 cents, or

1.6 percent, to $35.91 a barrel in after-hours electronic

trading on the New York Mercantile Exchange, and traded at

$36.20 at 12:53 p.m. in Singapore.

Crude futures have fallen 19 percent this year, after

tumbling 54 percent in 2008.

Brent crude oil for March settlement fell as much as 62 cents,

or 1.3 percent, to $45.95 a barrel. The contract dropped 2.3

percent on London’s ICE Futures Europe exchange on Jan. 16.

Saudi Arabia, the group’s biggest producer, last week said it

will reduce output further in February.

The IEA’s latest forecast assumes global economic growth of

1.2 percent in 2009, half its previous estimate.

MARKET ALERT ON JAN 16 FRIDAY 5.35 PM IST

MCX FEB Crude oil is approaching our target of

Rs 2152 as forecasred earlier in our buy recommendation.

Traders can book partial profit and hold the rest for

further target of Rs 2170.

UPDATES

TECHNICALS FOR NYMEX TRADING

JAN 16

SHORT TERM ; SIDEWAYS

LONG TERM : BEARISH

SUPPORTS ; 2100, 2065, 2030

RESISTANCES ; 2153, 2190, 2245

WAIT FOR CONFIRMATION

MARKET ALERT AT 5PM JAN 16

MCX FEB CRUDE CMP RS.2130 IS EXPECTED TO TEST

RS,2152 LEVELS , CURRENT SUPPORT SEEN AT RS.2113.

UPDATES

TECHNICALS FOR JAN 16

MCX FEB CRUDE OIL

SHORT TERM; SIDEWAYS

LONG TERM : BEARISH

SUPPORTS : 2030, 1960, 1905

RESISTANCES : 2085, 2140, 2190

STAY SHORT AT RESISTANCES

UPDATES

TECHNICALS FOR NYMEX TRADING

JAN 15

MCX FEB CRUDE OIL

SHORT TERM : SIDEWAYS

LONG TERM : BEARISH

SUPPORTS ; 2180, 2110, 2060

RESISTANCES ; 2260, 2310, 2360

WAIT FOR CONFIRMATION

UPDATES

TECHNICALS FOR JAN 15

MCX FEB CRUDE OIL

SHORT TERM ; BEARISH

LONG TERM ; BEARISH

SUPPORTS : 2110, 2060, 2000

RESISTANCES : 2160, 2210, 2290

STAY SHORT AT RESISTANCES

MARKET ALERT ON JAN 14 WEDNESDAY 9.10 PM IST

US EIA Inventories

Actual + 1.2

Expected + 3

Gasoline Actual + 2.1

Expected + 1.8

Distillate Actual : + 6.4

Expected + 1.7

Data is negative.

UPDATES

TECHNICALS FOR NYMEX TRADING

JAN 14

MCX FEB CRUDE OIL

SHORT TERM ; BEARISH

LONG TERM ; BEARISH

SUPPORTS ; 2180, 2130, 2080

RESISTANCES ; 2260, 2310, 2360

STAY SHORT AT RESISTANCES

UPDATES

TECHNICALS FOR JAN 14

MCX FEB CRUDE OIL

SHORT TERM ; BEARISH

LONG TERM : BEARISH

SUPPORTS : 2180, 2130, 2080

RESISTANCES ; 2230, 2280, 2330

STAY SHORT AT RESISTANCES

UPDATES

MARKET ALERT AT 5 PM JAN 13

MCX FEN CRUDE OIL CMP RS. 2125, IS

EXPECTED TO TEST RS.2060 LEVELS,

CURRENT RESISTANCE SEEN AT RS. 2160.

UPDATES

TECHNICALS FOR NYMEX TRADING JAN13

MCX JAN CRUDE OIL

SHORT TERM ; BEARISH

LONG TERM ; BEARISH

SUPPORTS ; 1760, 1710, 1680

RESISTANCES : 1830, 1890, 1930

STAY SHORT AT RESISTANCES

UPDATES

TECHNICALS FOR JAN 13

MCX JAN CRUDE OIL

SHORT TERM ;BEARISH

LONG TERM ; BEARISH

SUPPORTS ; 1840, 1780,1730

RESISTANCES : 1890, 1940,1990

STAY SHORT AT RESISTANCES

UPDATES

MARKT ALERT AT 7 PM JAN 12

MCX JAN CRUDE OIL HAD TOUCHED OUR TARGET,

RS.1875, SELL ADVISED AT RS.1940.

HOLD FOR FURTHER TARGET RS.1830, CURRENT

RESISTANCE SEEN AT RS.1915.

UPDATES

TECHNICALS FOR NYMEX TRADING

MCX JAN CRUDE OIL

SHORT TERM ;BEARISH

LONG TERM ; BEARISH

SUPPORTS ; 1860, 1810, 1760

RESISTANCES ; 1930, 1980, 2040

STAY SHORT AT RESISTANCES

UPDATE

MARKET ALERT AT 2.45 PM JAN 12

MCX JAN CRUDE OIL CMP RS.1915,

BOOK PARTIAL PROFIT IN OUR SELL

CALL INITIATED AT RS. 1940.

UPDATE

MARKET ALERT AT 1 PM JAN 12

MCX JAN CRUDE OIL CMPRS.1940

ISEXPECTED TO TEST RS.1875 LEVELS,

CURRENT RESISTANCE SEEN AT RS.1975.

UPDATES ON JAN 12 2009

JAN 12 MONDAY

SHORT TERM TREND : BEARISH

LONG TERM TREND : BEARISH

S1 RS 1930 , S2 RS 1860 , S3 RS 1810

R1 RS 1980 , R2 RS 2030 , R3 RS 2090

STAY SHORT AT RESISTENCE.

UPDATES

TECHNICALS FOR NYMEX TRADING

JAN 9

MCX JAN CRUDE OIL

SHORT TERM ; BEARISH

LONG TERM : BEARISH

SUPPORTS ; 2010., 1960, 1910

RESISTANCES : 2060, 2110, 2175

STAY SHORT AT RESISTANCES

UPDATES

TECHNICALS FOR JAN 9

MCX JAN CRUDE OIL

SHORT TERM ; BEARISH

LONG TERM ; BEARISH

SUPPORTS ; 2010, 1980, 1930

RESISTANCES ; 2075, 2130, 2175

STAY SHORT AT RESISTANCES

UPDATES

TECHNICALS FOR NYMEX TRADING

JAN 8

MCX JAN CRUDE OIL

SHORT TERM ; BEARISH

LONG TERM ; BEARISH

SUPPORTS ; 2080, 2030, 1960

RESISTANCES ; 2140, 2185, 2240

STAY SHORT AT RESISTANCES

MARKET ALERT ON JAN 8 THURSDAY 12.10 AM IST

Media report suggest Middle East tension have

re escalated with Lebanon firing

rockets into Israel .

UPDATES ON JAN 8 2009

JAN 8 THURSDAY

SHORT TERM TREND : BEARISH

LONG TERMN TREND : BEARISH

S1 RS 2130 , S2 RS 2080 , S3 RS 2030

R1 RS 2230 , R2 RS 2275 , R3 RS 2320

STAY SHORT AT RESISTENCE.

Crude oil was little changed in New York after dropping the

most in seven years yesterday as falling consumption led

to bigger-than-expected gains in supplies of crude,

gasoline and distillate fuel.

Crude oil for February delivery was at $42.80 a barrel,

up 17 cents, in electronic trading on the New York

Mercantile Exchange at 12:41 p.m. Singapore time.

The contract earlier fell as much as 39 cents, or

0.9 percent, to $42.24 a barrel.

Brent crude oil for February settlement was at $45.93 a barrel,

up 7 cents, on London’s ICE Futures Europe exchange at 12:39

p.m. Singapore time.

Market Alert on Jan 7 wednesday 9.15 PM IST

EIA : US Crude oil inventories data :

+ 6.7 mbrls

Expected

0.9 mbrls.

UPDATE

MARKET ALERT AT 5 PM JAN 7

MCX JAN CRUDE OIL IS EXPECTED TO TEST

RS.2445 LEVELS , SUPPORT SEEN AT RS.2315,

CMP RS.2370.

UPDATES

TECHNICALS FOR NYMEX TRADING

JAN 7

MCX JAN CRUDE OIL

SHORT TERM ; SIDEWAYS

LONG TERM ; BEARISH

SUPPORTS ; 2330, 2280, 2240

RESISTANCES ; 2380, 2430, 2490

WAIT FOR CONFIRMATION

UPDATE

MARKET ALERT AT 12.30 PM JAN 7

MCX JAN CRUDE OIL CMP RS. 2335 EXPECTED TO TEST

RS. 2275 RESISTANCE SEEN AT RS.2368.

UPDATES

TECHNICALS FOR JAN 7

MCX JAN CRUDE OIL

SHORT TERM :BULLISH

LONG TERM : BEARISH

SUPPORTS :2345, 2300,2260

RESISTANCES : 2430, 2490, 2556

STAY LONG AT SUPPORTS

UPDATES

TECHNICALS FOR NYMEX TRADING

JAN 6

MCX JAN CRUDE OIL

SHORT TERM ; BULLISH

LONG TERM : BULLISH

SUPPORTS ; 2380, 2310, 2260

RESISTANCES ; 2440, 2490, 2560

STAY LONG AT SUPPORTS

UPDATE

MARKET ALERT AT 2.30 PM JAN 6

MCX JAN CRUDE OIL CMP RS.2380 LIKELT TO

MOVE UP TO RS.2450 LEVELS, CURRENT

SUPPORT SEEN AT RS.2349.

UPDATES ON JAN 6 2009

JAN 6 TUESDAY

SHORT TERM TREND : SIDEWAYS

LONG TERM TREND : BEARISH

S1 RS 2285 , S2 RS 2230 , S3 RS 2160

R1 RS 2356 , R2 RS 2390 , R3 RS 2460

WAIT FOR COMNFIRMATION.

US Crude gained $ 2.47 to settle at $ 48.81 a barrel after

touching a three week high of $ 49.28.

London Brent Crude rose $ 2.71 to $ 49.62 a

barrel, while the oil traded under the MCX India was

at Rs 2307 levels.

Oil prices rose 5 % as Isreal deepening incrusion

in Gaza and a dispute between Russia and Ukraine

over natural gas heightened fears about supply

disruptions.

Crude under the MCX in ndia might see support at

2224 levls while the resistence may be seen at

Rs 2354 levels.

UPDATES

TECHNICALS FOR NYMEX TRADING

JAN 5

MCX JAN CRUDE OIL

SHORT TERM ; BULLISH

LONG TERM : BEARISH

SUPPORTS ; 2285, 2230, 2160

RESISTANCES : 2350, 2390, 2460

STAY LONG AT SUPPORTS

MARKET ALERT ON JAN 5 MONDAY 1.00 PM IST

Jan MCX Crude oil is expected to test Rs 2350,

if it sustains above Rs 2275.

UPDATES ON JAN 5 2009

JAN 5 MONDAY

SHORT TERM TREND : BULLISH

LONG TERM TREND : BEARISH

S1 RS 2210 , S2 RS 2170 , S3 RS 2135

R1 RS 2285 , R2 RS 2310 , R3 RS 2356

STAY LONG AT SUPPORT.


Crude oil rose for a third day in New York after Israeli

troops entered the Gaza Strip, escalating the 10-day old

conflict and threatening stability in the Middle East,

the largest oil-producing region.

Crude oil for February delivery rose as much as $2.34, or

5.1 percent, to $48.68 a barrel in after-hours electronic

trading on the New York Mercantile Exchange. It was at

$47.17 a barrel at 11:33 a.m. Singapore time.

The contract gained 3.9 percent to $46.34 a barrel on Jan. 2,

the highest settlement since Dec. 11. Prices climbed 23

percent last week, the most since August 1986, buoyed by

the Gaza conflict, a natural gas dispute between Russia

and Ukraine, and a rebound in equity prices. Oil tumbled

27 percent the week before.

UPDATES

TECHNICALS FOR NYMEX TRADING

JAN 2

MCX JAN CRUDE OIL

SHORT TERM : SIDEWAYS

LONG TERM : BEARISH

SUPPORTS : 2010 , 1960 , 1910

RESISTANCE ; 2080, 2130, 2180

WAIT FOR CONFIRMATION

UPDATE

MARKET ALERT AT 3.45 PM JAN 2

MCX JAN CRUDE OIL EXPECTED TO TEST

RS.2117 LEVELS, CURRENT SUPPORT SEEN

AT RS.2024, CMP RS. 2050.

UPDATES ON JAN 2 2009

JAN 2 FRIDAY

SHORT TERM TREND :BEARISH

LONG TERM TREND : BEARISH

S1 RS 2080,2010,1960

R1 RS 2130, 2180, 2220

STAY LONG AT SUPPORTS

Crude oil fell in New York, extending its worst yearly drop,

on concern that a global economic contraction will limit

fuel demand.

Crude oil for February delivery dropped as much as $2.32,

or 5.2 percent, to $42.28 a barrel in after-hours electronic

trading on the New York Mercantile Exchange. It was at $42.87

a barrel at 12:31 p.m. Singapore time.

Crude oil may rise next week as the Organization of Petroleum

Exporting Countries makes record production cuts to counter

the deepest economic slump since World War II.

Brent crude oil for February settlement fell as much as $2.07,

or 4.5 percent, to $43.52 a barrel on London’s ICE Futures

Europe exchange. It was at $44.01 a barrel at 12:32 p.m.

Singapore time. The contract on Dec. 31 rose $5.44, or 14

percent, to settle at $45.59 a barrel.

UPDATES

TECHNICALS FOR EVENING TRADE

JAN 1 2009

MCX JAN CRUDE OIL

SHORT TERM ; BEARISH

LONG TERM : BEARISH

SUPPORTS : 2060, 2000, 1960

RESISTANCES ; 2115, 2160, 2210

STAY LONG AT SUPPORTS

UPDATES

TECHNICALS FOR JAN 1 2009

MCX JAN CRUDE OIL

SHORT TERM ; BEARISH

LONG TERM : BEARISH

SUPPORTS : 1960, 1910, 1860

RESISTANCES : 2015, 2060, 2110

STAY LONG AT SUPPORTS