VIEWS WITH TRADING STRATEGY FOR 12th FEBRUARY 2009

MCX Gold April: Dips to 14469-14438 could find support for a rally towards 15060 ; 15044. A break below 14283 could cast doubt about this view that could price to next support at 14174 levels. S1: 14625 S2: 14550 R1: 14785 R2: 14860

MCX Silver Mar: Dips to 20896-20802 likely to find support for a rally towards 21819 followed by 22022. A break below 20443 to negate this bullish view. S1:21000 S2:20750 R1:21325 R2:21600

MCX Crude Oil Feb : Expect corrective rallies towards 1815 followed by 1845 to find resistance for a fall lower towards 1678 followed 1644 . A break above 1879 to turn the picture neutral. S1: 1785 S2: 1745 R1: 1865 R2: 1900

MCX Copper February: Expect corrective rallies towards 170.9 ; 172.0 to find resistance for a fall lower 162.3 followed by 156.8. A break above 176.3 could could see price edging higher towards 183.8-186.3. S1: 163 S2:160 R1: 169 R2:172
MCX Zinc Feb: - Inability to cross 56.5 levels on the upside will lead to another session of weakness leading to a fall towards strong supports which lie in the range 55.2 ; 54.75 . However a rise above 56.5 levels could trigger a rally towards 57.7 levels. S1: 55.60 S2: 54.70 R1: 57.15 R2: 58.00

MCX Lead Feb: Price likely to stay weak for the session and test supports at 55.00 ; 54.70 on the downside. However a break above 57.25 could once again take price towards strong resistance at 58.60 levels. S1: 55.75 S2: 54.50 R1: 57.8 R2: 58.30

MCX Nickel Feb: Nickel seems to be in free fall. Next level of support at 481;471 level. Rallies if any likely to capped below 510 for move beyond 470 toward 460 level.S1: 495 S2: 478 R1: 523 R2: 542

MCX Natural Gas Feb: - Rallies to 226- 228 likely to find resistance for a move lower towards 214 ;210 levels Only a rise above 233 to negate this bearish view. S1: 221 S2: 217 R1: 228 R2: 233

Comex Gold April: - Dips to 931- 929 could find support for a rally towards 969 - 968. A break below 919 could cast doubt about this view that could take price to next support at 912 levels.

Comex Silver March: - Dips to 13.36-13.30 likely to find support for a rally towards 13.95 followed by 14.08. A break below 13.07 to negate this bullish view

NYMEX Crude March: - Expect corrective rallies towards 37.20 followed by 37.80 to find resistance for a fall lower towards 34.40 followed 33.70. A break above 38.50 to turn the picture neutral

GOLD TRADING STRATERGY:-
The trend is up.
Hold your long positions with a stop loss at Rs 14235.
Further buy only on a rise above Rs 14725.
Intra-day traders can wait for a fall below Rs 14550 or Rs 14375 and when it rises above Rs 14550 or Rs 14375 then buy with the low below Rs 14550 or Rs 14375 as the stop loss.
MACD histogram is in the negative zone. The 14 day RSI is moving up and now near the 70 mark.
Open interest witnessed significant rise with the rise in price indicating fresh long positions build up.
Resistance is seen at Rs 14864 – Rs 15039

SILVER TRADING STRATERGY :-
The trend is up.
Hold your long positions with a stop loss at Rs 20540.
Further buy only on a rise above Rs 21255.
Intra-day traders can wait for a fall below Rs 20995 or Rs 20736 and when it rises above Rs 20995 or Rs 20736 then buy with the low below Rs 20995 or Rs 20736 as the stop loss.
MACD histogram is now in the positive zone. The 14 day RSI is moving down and now above the 70 mark.
Open interest witnessed significant fall with the rise in price indicating short positions unwinding.
Resistance is seen at Rs 21446 – Rs 21705