VIEWS FOR 19-01-2009

MCX GOLD TRADING IDEA
The trend has turned up.
Ideally, cover short positions at market price and on dips to Rs. 13090 – Rs. 13036 or below as the opportunity arises.
As the trend is up, to minimize risk, intra-day traders can wait for a fall below Rs. 13036 and when it rises above Rs. 13036 then buy with whatever low registered below Rs. 13036 as a stop loss. Subsequently, book profits at Rs. 13250 – Rs.13400 or even 13800

INTERNATIONAL GOLD SPOT TRADING IDEA :-we had indicated that on sustained rise above 831$, the price rise towards 844$-868$ is possible. Similar view was indicated for the hourly chart view. Expect a price rise towards 865$-891$ where serious resistance could be witnessed.

INTERNATIONAL SPOT SILVER TRADING IDEA :- Resistance will be at 11.40$-11.73$. Support will be at 10.90. Traders holding long positions can look for rise towards the resistance level or above to take profit.But higher range should be used to book profits

VIEWS :-

MCX Gold Feb: Dips to 12987 levels to offer good support now for a test of 13410. Fall below 12987 could delay the bullish move.S1: 13100 S2: 13025 R1: 13225 R2: 13300

MCX Silver Mar: The 17843-18006 zone to offer good support for a test of 18658 initially. Dips below 17761 to dent our bullish hopes.S1:18100 S2:17850 R1:18500 R2:18720

MCX Copper February: Supports are at 164.0 followed by 157.7 now. Ideally a consolidation in the 157.7 168.0 zone to result in a break higher towards 182.0 at least. This is our favored view. Unexpected drop below 157.0 to negate the bullish view.S1: 163 S2:158 R1: 171 R2:174

MCX Crude Oil Feb : Short-term resistance near 2094/2098 could cap the up ticks. The trend and momentum are generally down.So anticipate a test of supports after the initial up ticks. Supports are around 2052, 2013 $ 1998.S1: 2045 S2: 1975 R1: 2110 R2: 2165

MCX Zinc Jan: - Moving in a broad trading range 62.05 60.00 . Only a break of this range will decide the next directive move.S1: 59.85 S2: 58.75 R1: 62.00 R2: 63.10

MCX Lead Jan: Moving in a broad trading range 57.45 55.05 . Only a break of this range will decide the next directive move.S1: 55.10 S2: 54.00 R1: 57.25 R2: 58.30

MCX Nickel Jan: Expect dips to 528 -525 to find support for price to move higher towards 565 -571 levels.Only a fall below 521 to negate this bullish view.S1: 521 S2: 501 R1: 551 R2: 573

MCX Natural Gas Jan: - Expect dips to 232 230 to find support for a move higher towards 246 249 levels.Only a fall below 229 to negate this bullish view.S1: 229 S2: 223 R1: 241 R2: 247