VIEWS AND TRADING STRATERGIES AS ON 30 TH MARCH

VIEWS ON MCX COMMODITIES:-

MCX Gold June: A bearish trend is in place now. A decline to 14540/14440 seems to be unfolding. Projected objective falls at 13890.Ideally it should stay above this and start a recovery towards 14524. Dip below 14940 is needed to trigger this decline. Stop for this bearish view is kept at 15455, above which it could attempt 15666

MCX Silver May: Important support is in the 21530-21630 zone. A dip below 21640 would most probably pull it down further towards 21195 or even 21010.Below 21010 the selling could intensify, shifting the focus on next support at 19785 S1: 21850 S2: 21550 R1: 22475 R2: 22800

MCX Copper April: Important support is at 200/201 now. Favored view expects a corrective dip to 197/198 levels while below 207/208.Direct rise above 208 to signal bullishness again. S1: 202 S2: 199 R1: 209 R2: 212

MCX Crude Oil April : As anticipated fall below 2675 damaged the bullish picture. However, Indicators suggest that a corrective dip to 2630/2575 region could be followed by next rise towards 2915. It needs to fall below 2545 to cause doubts about this bullish expectation.S1: 2610 S2: 2565 R1: 2720 R2: 2790

INTERNATIONAL SPOT GOLD:-Support will be at 915$.
Sell on fall below 915$ with high of the day stop loss.
On close below 915$ with a negative candle can take the price down towards 900$-882$.
Resistance will be at 930$-937$.
NYMEX LIGHT SWEET CRUDE OIL:-A breakout of a steeper trend line is witnessed.
Resistance will be at 54$-56$.
Traders holding long positions must exit long at current price and on rise towards 56$ as the opportunity arises.
Support will be at 50.50$-48.50$.
Fresh long positions can be undertaken only on close above 56$.
GOLD TRADING STRATERGY:-
The trend is down.
It looks like that an expanding triangle setup is in place now.
A significant fall towards lower trend-line could be witnessed in coming sessions.
A break of Rs. 14965 will be crucial for the major downfall.
Sell on rise to Rs. 15119 – Rs. 15198 with stop loss of Rs. 15333.
Expect a fall towards Rs 14770 – Rs. 14390 in sessions to come.
As the trend is down, to minimize risk, intra-day traders can wait for a rise above Rs. 15198 and when it falls below Rs. 15198 then sell with whatever high registered above Rs. 15198 as a stop loss. Subsequently, book profits at Rs. 15119 – Rs. 15013 range or below.

SILVER TRADING STRATERGY:-
The trend is up but nature of movement is sideways.
Ideally, exit all long positions at market price and on rise to Rs. 22174 – Rs. 22474 or above as the opportunity arises.
Re-enter long only on rise and close above Rs. 22936.
As the trend is up, to minimize risk, intra-day traders can wait for a fall below Rs. 21851 and when it rises above Rs. 21851 then buy with whatever low registered below Rs. 21851 as a stop loss. Subsequently, book profits at Rs. 22174 – Rs. 22474 range or above.