VIEW FOR 17TH OCTOBER 2008

MCX Gold (December): Moved as per expectations. Pullback expected for the day towards 13055-13086 or even higher towards 13229.Favored view still expects a fall towards 12055 levels as long as these resistances cap . Caution to be exercised for shorts on the break of 13515.S1: 12700 S2:12635 R1: 12850 R2: 12935

MCX Silver December: As expected we saw a fall towards 17000. Showing some signs of pullback today.Resistance at 18082 followed by 18622 .Favored view expects resistance to cap for a fall towards 15347 .Unexpected rise above 18712 to cast doubts on this bearish view.S1:17120 S2:16850 R1:17550 R2:17800

MCX Copper November :- Resistance at 257.1 expected to cap for a decline towards 226 or even lower .. However a move above 263-264 should hint at the extension towards 290. S1: 226 S2: 221 R1: 236 R2:241

MCX Crude Oil November : Corrective rise towards 3702/3737 region is favored. Supports are at 3578, 3538 $ 3523.correction before next decline towards 3230.It has to fall below 3463 to hint at the possibility of failure of this expectation. The expected rally would be treated as a minor S1:3435 S2:3375 R1:3585 R2:3665

MCX Zinc Oct: Oversold conditions indicate a bounce from yesterdayAcA?A¿s lows. As long as 57.85-58.2 levels support expect corrective rallies to 62.0 or even 63.7 levels. Fall below 57.8 would confirm resumption of the bearish trend. S1: 58.0 S2: 56.85 R1: 60.0 R2: 61.3

MCX Lead Oct: Expect corrective rallies to test 71.3 or even 73.10 levels as long as 68.0 levels support . Fall below 67.3 would lead to further decline.S1: 68.0 S2: 67.10 R1: 70.0 R2: 71.20

MCX Nickel Oct: Expect corrective rallies to test 571 or even 595 levels as long as 545 levels support .However a fall below 545 would hint at further weakness in prices. S1: 545 S2: 530 R1: 568 R2: 591

MCX Natural Gas Oct: As long as 329-325 levels hold support expect prices to rally towards 349 levels . Fall below 322 to dent our bullish expectations.S1: 327 S2: 321 R1:341 R2: 349