VIEWS FOR 1st OCTOBER, 2008

MCX Gold (December): Expect prices to find resistance towards 13600/13660 for a possible fall lower towards 12872/12841, however direct break above 13842 would negate this bearish view.S1: 13220 S2: 13175 R1:13335 R2:13378

MCX Silver December: Expect corrective rallies to find resistance at 20722/20805 for a move lower towards 19480 followed by 19231; break above 21720 would negate this bearish view.S1: 19950 S2:19800 R1:20250 R2: 20425

MCX Copper November :- As long as prices stay above 296.4 it could go towards 312/316 levels, which are strong resistance levels, direct break below 296.7 could see prices testing 291 followed by 288. S1: 299.9 S2: 296.4 R1: 305.0 R2: 308.5

MCX Crude Oil October: Push above 4859 would be a bullish sign and could lead the price towards 4904/4928. Supports are near 4762 & 4740. Fall below 4707 is needed to lessen the scope for this rally. Such a fall could open the way for test of supports near 4622 initially. Favoured view expects a rise while above 4702.S1: 4694 S2:4645 R1:4795 R2:4845

MCX Zinc Oct: As long as 81.4-82.5 levels resist, expect prices to move lower towards 77.5 or even 75.0 levels . However a rise above 83.50 would negate this bearish view.S1: 78.8 S2: 77.6 R1:80.8 R2: 81.7

MCX Lead Oct: As long as 88.5-89.5 levels resist , expect prices to fall towards 81.0 levels or even lower towards 79.0 levels.However a rise above 90.80 would negate this bearish view.S1: 86.2 S2: 85.3 R1: 88.35 R2: 89.5

MCX Nickel Oct: Corrective Rallies are expected to find resistance in the 778-785 region for a move lower towards 730 or even 715 levels. A rise above 792 would negate this bearish view.S1: 730 S2: 718 R1: 753 R2: 768

MCX Natural Gas Oct: Expect up moves to find resistance in the 365-370 region for a move lower towards 340 levels . A rise above 376 would negate this bearish view.S1: 345 S:335 R1:363 R2: 372

VIEWS FOR 30th SEPTEMBER

MCX Gold (October): In line with our expectations. Dips to 13530/13485 to support for a break of 13940 and a possible test of 14550/14580 now. Fall below 13304 could dampen the bullish expectation.S1: 13400 S2:13350 R1:13500 R2: 13555

MCX Silver December: As expected a break below 20800 sent silver futures falling lower. Important resistance is at 21600/21650 and move above this level could induce bullish hopes for a 24090.S1: 20790 S2: 20595 R1: 21060 R2: 21200

MCX Copper November: As expected, we saw a huge fall in copper coming to our target levels at 297.20. Indicators warn of a pullback but possibilities of a further fall towards 279 looks likely. Any pullbacks could find strong resistance at 310/313 levels now.S1: 299 S2: 296 R1: 307 R2: 311.50

MCX Crude Oil October: While above 4498 a corrective rise towards 4600or 4650 is anticipated. Ideally the correction should end without crossing above 4700. Next decline could target levels like 4330/4252. Rise past 4700 could suggest that a stronger bullish reaction is evolving.S1: 4580 S2: 4530 R1: 4680 R2: 4725

MCX Zinc Oct: As long as 80.9-81.5 levels resist, expect prices to move lower towards 77.5 levels or even lower. However a rise above 83.30 would negate this bearish view. S1: 78.4 S2: 77.00 R1:81.50 R2: 83.10

MCX Lead Oct: As long as 87.5.5-88.5 levels resist , expect prices to fall towards 82.60 levels or even lower. However a rise above 90.80 would negate this bearish view.S1: 84.10 S2: 82.90 R1: 87.10 R2: 88.50

MCX Nickel Oct: Rallies to 790/794 could cap the upside for a fall towards 750 followed by 745 levels.It needs to rise above 804 to give up this bearish expectation.S1: 771 S2: 761 R1: 790 R2: 800

MCX Natural Gas Oct: Rallies to 350/352 could cap the upside for a fall towards 332/333 followed by 330 levels. It needs to rise above 356 to give up this bearish expectation.S1: 340 S2:336 R1:348 R2: 353