VIEWS FOR OCTOBER 10th, 2008

MCX Gold (December): Despite yesterday's volatility looks set for a break of 14333 and testing 14750 or even higher.Supports are at 13980 followed by 13872. Fall below 13975 to dent our bullish view.S1: 14000 S2: 13925 R1:14195 R2:14300

MCX Crude Oil October: Resistance at 4069 followed by 4117. Price could fall further towards 3969 or 3938.Rise past 4207 is needed to suggest further corrective rise towards 4243.S1: 3925 S2:3845 R1:4045 R2:4110

MCX Copper November :- Has met some of the medium term targets. Indicators in oversold conditions warn of a pullback. Fall towards 227 levels look likely.Can look for a potential short-term bounce higher from here.S1: 235.0 S2: 233.0 R1: 239.5 R2: 242.4

MCX Natural Gas Oct: A break of the broad range 317- 333 will decide the next directive move however the bias still remains on the downside.S1: 323 S:315 R1:338 R2: 346

MCX Lead Oct: A break below 77.85 levels would be a bearish sign and may take prices lower towards 75.25 or even 74.10 levels.Resistances now at 81.0 levels.Resistances now at 72.8-73.95 levels.A rise above 74.0 is needed to negate this bearish view. S1: 71.05 S2: 69.85 R1:73.5 R2: 74.85

MCX Nickel Oct: A break below 625 levels would be a bearish sign and may take prices lower towards 595 or even 570 levels. Resistances now at 635 levels A rise above 641 is needed to negate this bearish view.S1: 595 S2: 575 R1: 641 R2: 658

VIEWS FOR 8TH OCTOBER, 2008

MCX Gold (December): Ideally support should be seen at 13330/13345 levels now followed by 13207. Favored view now expects supports to hold for a test of 13711or even higher. Fall below 13085 to dent our bullish hopes.S1: 13425 S2: 13330 R1:13610 R2:13700

MCX Silver December: Could see a corrective bounce towards 20650 or even higher towards 21084. Supports are at 18915 followed by 18580 now.Fall below 18530 is expected to take prices lower towards 17235.S1: 19100 S2:18900 R1:19485 R2: 19635

MCX Crude Oil October: Downside target is at 4066 but there is a good chance for the price to stay above 4283 or maximum 4225 and rise in correction towards4440 or even 4480. Ideally next decline should commence after this correction. This is the favored scenario.Rise beyond 4492 could hint at further advance towards 4598.S1: 4185 S2:4125 R1:4307 R2:4368

MCX Copper Nov: Resistance to cap for a decline towards 237.S1: 267.5 S2: 264.0 R1: 273.5 R2: 277.4

MCX Zinc Oct: As long as 73.45-72.85 levels support , expect corrective rallies towards 76.7 or even 78.0 levels .However a fall below 72.30 would negate this bullish view. S1: 73.4 S2: 72.2 R1:75.6 R2: 76.7

MCX Nickel Oct: As long as 680 levels support , expect prices to edge higher towards resistance levels at 715- 725 levels .. However a direct fall below 675 would negate the bullish view.S1: 670 S2: 655 R1: 695 R2: 715

MCX Natural Gas Oct: Expect bearishness to continue for the test of 314 or even 301 levels as long as 340 levels resist.S1: 320 S:312 R1:347 R2: 359

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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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VIEW FOR THE WEEK FROM 6TH OCTOBER TO 11TH OCTOBER

MCX Gold (December): Favoured view expects a decline towards 12382 or even 12055. Corrective up ticks could be capped near 12953/13091 area.. It needs to rise past 13300 to change this bearish outlook. There are no signs as of now that suggest that price could rise past 13300.S1: 12785 S2: 12715 R1:12895 R2:12955.

MCX Silver December: Favoured view expects a decline towards 17401 or 17102 while resistance near 19645/20008 would cap bullish reactionsIt needs to rise past 20074 to give up this bearish expectation as the price could start strengthening towards 20423 or 21004 then.S1: 18900 S2:18650 R1:19220 R2: 19500

MCX Crude Oil October: Structure shows a potential for a fall towards 4253 or 4220. Resistance points near 4352 & 4400. It has to rise past 4423 to cause doubts about this bearish view as such a rise could lead it higher towards 4511. Bullish divergence in hourly oscillators suggests that there could a rise initially while above 4300.S1: 4376 S2:4324 R1:4465 R2:4500

MCX Copper November :- Minor bottoming signs at 265.0 levels our anticipated long-term target. We can expect a pullback towards 286.6/287.6 levels or even higher towards 300.3. However, fall below 268.7 could open the downside again towards 250.7/252.9 levels.S1: 273.5 S2: 268.3 R1: 281.6 R2: 285.4

MCX Zinc Oct: As long as 73.8-73.2 levels support , expect corrective rallies towards 76.7-78.0 levels . However a fall below 73.0 would negate this bullish view. S1: 73.8 S2: 72.6 R1:76.15 R2: 77.25

MCX Lead Oct: As long as 79.8-79.0 levels support , expect prices to stay firm and test resistance levels at 82.7 or even 84.0 levels from hereA fall below 79.5 would negate this bullish view.S1: 80.3 S2: 79.15 R1: 82.65 R2: 83.85

MCX Nickel Oct: As long as 710-715 levels support , expect corrective rallies towards 745-755 levels .However a fall below 710 would negate this bullish view.S1: 715 S2: 703 R1: 738 R2: 752

MCX Natural Gas Oct: Structure looks and bearish and set to touch 336 or even 322 levels as long as 361-369 levels resist.A rise above 370 would negate this bearish view.S1: 338 S:330 R1:354 R2: 363