VIEWS FOR 2nd DECEMBER 2008

MCX Gold Feb: Important support at 12750/12780 has been broken. Resistances now at 12830/12850 followed by 12920/12940. S1:12610 S2:12480 R1: 12770 R2: 12920

MCX Silver Mar: Silver vulnerable for fall towards 15850 or even lower. Resistance at 16880/16940 followed by 17150/17190. S1:16540 S2:16200 R1:16900 R2:17150

MCX Copper February: Is still in a consolidation, with a mild bullish bias. Fall below 180 to take prices lower towards 174/175 levels now or even lower.Only a direct rise above 196.50/197 to indicate a clear bullish rally from here. S1: 182.50 S2: 175.50 R1: 190 R2:195

MCX Crude Oil Dec: Expect prices to dip to 2480/2500 initially. Then Up ticks could be capped near 2560 or 2580 for next decline that could attempt to break below 2460 and go for next levels near 2410/2360. It has to cross above 2620 to hint that there could be a stronger upwards retracement towards 2640/2650 or 2680/2690 levels. S1: 2500 S2: 2400 R1: 2590 R2:2650

MCX Zinc Dec: Expect price to find resistance toward 61/61.20 for a fall lower toward 58.90/59 level, break above 62.20 would cast doubt about this bearish view S1: 59.20 S2: 57.90 R1: 61.10 R2: 62.50

MCX Lead Dec: As long as 57.60/57.80 caps the upside expect prices to edge lower towards 53.50/53.90 levles. Break above 59 would cast doubts about this bearish view. S1: 54.80 S2: 53.5 R1: 57.60 R2: 59.20

MCX Nickel Dec: Rallies to 517/522 could find resistance for fall lower toward 490/495, break above 530 would negate this bearish view.S1: 498 S2: 480 R1:517 R2: 535

MCX Natural Gas Dec: As long as 340/341 resist expect a move lower towards 315/316, break above 344 would negate this bearish view. S1:330 S2:322 R1: 340 R2: 348