VIEWS WITH TRADING STRATEGY FOR 20TH MARCH 2009

MCX Gold April: A potential target at 15460 has been met. A corrective fall towards 15240 or even lower towards 15045/15080 looks likely.As long as 15030 hold the bullish trend is expected to continue. S1: 15260 S2: 15140 R1: 15525 R2: 15660

MCX Silver May: Important near-term support is at 21990 now. While below 22436/22485 expect a corrective fall towards 21910 or even lower.Direct rise above 22436 to indicate bullish strength for a 23225. S1: 22030 S2: 21800 R1: 22450 R2: 22700

MCX Copper April: Crucial support is at 196. While above this level we can expect the rally to continue towards 204/207 levels. This is our favored view.Fall below 196 to lead to a corrective fall. S1: 196 S2: 193 R1: 204 R2: 207

MCX Crude Oil April : As expected we saw 2630/2656 being tested. A consolidation in the 2545 and 2605 zone can be expected followed by a rise towards 2770.This is our favored view. Fall below 2500 to cause doubts on this bullish view. S1: 2610 S2: 2545 R1: 2645 R2: 2770

MCX Zinc March: Dips to 61.7 likely to find support for a move higher towards 63.4 or even higher towards 64.0 levels.Only a move below 61.0 to negate this bullish view.S1: 61.7 S2: 59.85 R1: 62.4 R2: 63.5

MCX Lead March: Until supports at 66.5/66.0 holds prices may move higher towards 69.0 levels.Moves below 65.6 may negate our bullish view.S1: 66.5 S2: 65.2 R1: 67.5 R2: 69.0

MCX Nickel March: Moves below 502 may take prices further down to 493.On the other hand a break above 515 would rekindle some bullish hopes.S1: 502 S2: 497 R1: 512 R2: 519

MCX Natural Gas April ips to 202/203 likely to find support for a move higher towards 214 or even higher towards 219 levels. Only a move below 198 to negate this bullish view.S1: 203 S2: 198 R1: 214 R2: 219

TRADING STRATEGY ::

GOLD MCX APRIL ::

The trend has turned up.
Ideally, cover all earlier short positions at market price and on dips to Rs. 15236 – Rs. 15013 or below as the opportunity arises.
Buy on dips to Rs. 15236 – Rs. 15013 with stop loss of Rs. 14835.
Expect a rise towards Rs. 15638 – Rs. 15861.
As the trend is up, to minimize risk, intra-day traders can wait for a fall below Rs. 15236 and when it rises above Rs. 15236 then buy with whatever low registered below Rs. 15236 as a stop loss. Subsequently, book profits at Rs. 15638 – Rs. 15861 range or above.

SILVER MCX MAY ::

The trend has turned up.
Ideally, cover all earlier short positions at market price and on dips to Rs. 21813 – Rs. 21209 or below as the opportunity arises.
Buy on dips to Rs. 21813 – Rs. 21209 with stop loss of Rs. 20800.
Expect a rise towards Rs. 22827 – Rs. 23431.
As the trend is up, to minimize risk, intra-day traders can wait for a fall below Rs. 21813 and when it rises above Rs. 21813 then buy with whatever low registered below Rs. 21813 as a stop loss. Subsequently, book profits at Rs. 22827 – Rs. 23431 range or above.


INTERNATIONAL SPOT GOLD ::

Resistance is being witnessed at 958$-963$.
A further rise and close above 963$ can take the price up to test the higher range of 975$-1006$.
Support will be at 948$-925$.
Traders can buy on rise above 963$ with low of the day stop loss.
Corrective dip to 948$ or below could be used for buying with a stop loss of 925$.
A fall and close below 925$ can take the price for gold back down to 882$ or below.

INTERNATIONAL SPOT SILVER ::

Resistance is being witnessed at 13.69$.
On further rise and close above 13.69$ with a positive candle can take the price up to test the higher range of 14.09$-14.63$.
Support will be at 13.30$-13.02$-12.63$. Corrective dip to support could be used for buying.
Overall Stop loss for long positions can be 12.63$.
A close below 12.63$ can take the price down to test 11.89$. It could even move down to fall further.
Therefore the support of 12.63$ will be important from here on.


COPPER MCX APRIL ::
Looks to be on the verge of break out. But, a pull back andaccumulation at 195 would deem healthy for the trend, as priceshave already met the rising trendline in comex as well as lmecharts. A direct rise above 202 would dispel all such doubtscalling for 215.
Nymex Crude:
Expect pull back initially. To take support at50.9/66 for a pull towards 53. This is ourfavoured view. Falls below 50.5 to signal thatdownswing is maturing

ENJOY TRADING !!!!


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