VIEWS FOR 07th NOVEMBER 2008

MCX Gold (December): Looks more like a consolidation in play between 11224-12000 levels. Price structures are not comfortable for a bullish move Fall below 11224 to drag prices lower towards 10670 or even lower.S1: 11400 S2:11320 R1: 11565 R2: 11630

MCX Silver December: Break above 17450 turned out to be a false one. Fall below 16750 could now accelerate the fall 16536. However, positive indicators increase hopes for a rise provided supports at 16363/16531 holds.S1:16700 S2:16450 R1:17250 R2:17600

MCX Crude Oil November: A rally to 3010/3033 or maximum 3063 could precede further decline towards 2852/2828 regions. Direct rise above 3083 is needed to cause doubts about this view as such a move could see it strengthening further towards 3118/3143. S1: 2900 S2: 2845 R1:3000 R2:3065

MCX Copper November: - Fall below 193.4 to trigger bearishness towards 146 levels. However, if support is noticed here and a subsequent close above 213 to lead prices higher towards 255. Favored view expects a fall.S1: 182 S2: 178 R1: 190 R2:195

MCX Zinc Nov :- 55.25-56.25 are important resistances now . As long as prices are below these levels , prices may touch 50.0 levels. Only a rise above 56.50 would negate this bearish view. S1: 52.55 S2: 51.00 R1: 55.00 R2: 56.55

MCX Lead Nov: Important resistances at 73.80-75.40 levels , while below these levels prices could test 66.50 levels .Only a rise above 76.0 would negate this bearish view.S1: 70.0 S2: 68.80 R1: 71.35 R2: 72.70

MCX Nickel Nov: A break below 550 levels could take prices towards 515-520 levels as long as prices stay below 610-620 levels.A rise above 620 would cause doubts about this bearish view. S1: 544 S2: 521 R1:595 R2: 618

MCX Natural Gas Nov: Moved as expected. Important resistance now at 341 and further at 349 , as long as prices stay below these levels 323-318 levels could be tested. Only a rise above 351 to negate this bearish view now.S1: 328 S2: 321 R1: 341 R2: 350