VIEW FOR 7TH OCTOBER 2008

MCX Gold (December): Prices are consolidating in a broad range of 12672 and 13440 as of now. Supports are at 13056/13117 which could hold for a rise towards 13594/13640 , break below 12918 would negate this bullish view.S1: 13285 S2: 13215 R1:13395 R2:13465

MCX Silver December: Prices are moving in a broad range of 18635 and 19656 as of now. As long as 19571/19656 resist expect a move lower towards 18635 followed by 18465. Direct break above 19656 could see prices testing 19996/20085 which are also strong resistance levels.S1: 18900 S2:18720 R1:19300 R2: 19545

MCX Copper November :- Expect dips to find support at 259.2/261.3 for a move higher towards 277.5/280.7, break below 253.8 would negate this bullish view.S1: 263.5 S2: 259.0 R1: 269.5 R2: 273.4

MCX Crude Oil October: Mild bullish indications suggest that there could be a brief phase of upward correction towards 4382/4392, 4462 or maximum 4490.A down turn is expected to occur at any of these levels with some peaking signs. Next decline could attempt 4111 or 4063. S1: 4255 S2:4185 R1:4365 R2:4415

MCX Zinc Oct: As long as 72.8-71.45 levels support , expect corrective rallies towards 76.7-78.0 levels . However a fall below 71.35 would negate this bullish view. S1: 72.75 S2: 71.60 R1:75.0 R2: 76.15

MCX Lead Oct: As long as 77.35-75.45 levels support , expect prices to stay firm and test resistance levels at 82.7 or even 84.0 levels from here. A fall below 77.0 would negate this bullish view.S1: 77.35 S2: 76.25 R1: 79.65 R2: 80.85

MCX Nickel Oct: As long as 715-725 levels resist , expect the downslide to continue towards 664-648 levels . However a rise above 730 would negate this bearish view.S1: 670 S2: 655 R1: 695 R2: 715

MCX Natural Gas Oct: Structure looks and bearish and set to touch 325 or even 315 levels as long as 350 levels resist. A rise above 355 would negate this bearish view.S1: 328 S:320 R1:343 R2: 351

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