VIEWS FOR 23rd JANUARY 2009

MCX Gold Feb:The 13276-13291 zone to support any dips presently. Ideally, a broad range needs to be established before a breakout higher towards 14191 levels Unexpected fall below 13260 to have bearish implications.S1: 13475 S2: 13400 R1: 13610 R2: 13695

MCX Silver Mar: Supports are at 18231 followed by 18068. Direct fall below 18035/18067 to result in a corrective decline towards 17740/17743 levels.Favored view expects supports at 18035/18067 to hold and rise towards potential target at 19294.S1:18300 S2:18120 R1:18750 R2:18900

MCX Copper February: Fall below 155 denotes bearishness now. We could see a pullback towards 159/160 levels now, but rallies should be capped here for a decline towards 148.2. Unexpected rise above 163.6 to re-inforce bullish hopes.S1: 149 S2:145 R1: 157 R2:161

MCX Crude Oil Feb : As expected we saw a test of 2210 levels. The subsequent fall from there has bearish implications. Supports are at around 2062/2067 levels now. Break below yesterday's low could take prices even lower towards 1830 levels.S1: 2000 S2: 1965 R1: 2100 R2: 2195

MCX Zinc Jan: - Rallies to 55.35 ,55.85 likely to find resistance for a move lower towards 52.30 ,51.00 levels again. Only a rise above 56.5 to negate this bearish view. S1: 53.3 S2: 52.15 R1: 55.35 R2: 56.45

MCX Lead Jan: Rallies to 53.55 , 53.65 likely to find resistance and move lower towards 49.5 or even lower towards 48.00 levels. A rise above 54.75 to negate this bearish view. S1: 51.00 S2: 50.00 R1: 53.25 R2: 54.30

MCX Nickel Jan: Rallies to 545.00, 548.00 likely to find resistance and move lower towards 516 or even lower towards 495 levels. A rise above 565 to negate this bearish view. S1: 525 S2: 507 R1: 559 R2: 573

MCX Natural Gas Feb: - Rallies to 233.0 , 235 likely to find resistance for a move lower towards 215 levels. A rise above 237.0 to negate this bearish view.S1: 217 S2: 209 R1: 236 R2: 247

COMEX GOLD PIVOT; SUP-1 845 SUP-2 835 PIVOT - 854 RES-1 865 RES-2 873 EXPECTATION POSITIVE PROFIT BOOKING AT HIGHER LEVELS IS GOOD

CRUDE SUPPORT AT 38-40 RES SEEN AT 45 TRADING STRATERGY BUY ON DIPS WITH SL 38 ABV 45 EXPECT A TEST OF 50 IN NEAR TERM BUY NEAR SUPPORT