VIEWS AND TRADING STRATERGY FOR 13 TH APRIL

MCX Gold June: Supports are at 13885 & 13690. Resistance levels are at 14210, 14255 & 14320. Favored view expects one more decline towards 13710/13630 region or maximum 13560, possibly ending a corrective sequence. Rise past 14430 followed by 14640 is needed to cause doubts about this bearish view.S1: 14130 S2: 14030 R1: 14430 R2: 14510

MCX Silver May: Chart looks bearish and suggests that price could fall to 19690 or 18920/18750. Daily chart points to 19345 or 18450 as possible downside objectives. It needs to rise above 21200 to shed this bearishness. Immediate resistance is at 20790 levels.S1: 20460 S2: 20350 R1: 20625 R2: 20700

MCX Copper April: Resistance is at 237/241 levels or even higher towards 245/246levels now. A correction towards 228 levels can be expected from there. However, the uptrend looks strong and corrective dips need to be bought again.
S1: 228 S2: 220 R1: 234 R2: 240

MCX Crude Oil April : Supports near 2517 or 2480 could hold dips if any. The structure looks bullish. It is more likely to take out the next important resistance at 2622 and reach for next objective at 2785. Fall below 2450 would cause some doubts about this bullish view.
S1: 2520 S2: 2480 R1: 2620 R2: 2700

MCX Zinc April: Dips to 68.3 likely to find support for a move higher towards 69.5/70.0. A move below 68.1 to negate this bullish view.S1: 68.3 S2: 67.75 R1: 69.5 R2: 70.0

MCX Lead April: Support is now at 70.0 levels. Until this support holds prices to likely to make highs of 72.0/73.0 levels. Direct fall below 69.4 to negate our bullish view.
S1: 70.0 S2: 68.5 R1: 71.5 R2: 72.9

MCX Nickel April: Prices are consolidating in the range of 537-552 .Up moves beyond 556 may take prices further up towards 565/570 levels. Fall below 533 to dent our bullish view.
S1: 542 S2: 533 R1: 556 R2: 565

INTERNATIONAL SPOT GOLD ;-In last 4-5 trading days, we have witnessed a price movement within a band of 897$-864$.
The trading higher bottom after 864$ is placed at 873$.
Immediate resistance is placed at 890$.
Resistance of 890$ will be tested and could move towards 897$ at least. Sustainability is questionable at this point.
A breakout and close above 890$ and 897$ can show a spike in Gold towards 910$.
Traders who are holding short positions can maintain a stop loss of 890$ or 897$ depending on individual risk bearing capacity.
Traders willing to take risk can still sell on rise to 890$ or above with a stop loss of 897$.
Overall pattern formation is not encouraging with head and shoulder pattern formation in place. The revised neckline is just under 890$ and the original neckline is round 910$.
Traders can sell on fall below 873

INTERNATIONAL SPOT SILVER:-Resistance will be at 12.49$-12.56$-12.77$.
Support will be at 12.41$-12.27$.
Resistance of 12.49$-12.56$ are under test in the early morning trades.
A further breakout and close above 12.77$ can bring about a near term change for a pullback rally.
But currently sustainability is questionable. Yes, early morning session has brought about a brisk start to the day with an up move. Silver needs to cross the resistance otherwise could surrender the early morning intra-day gains

NYMEX LIGHT SWEET CRUDE OIL:Resistance will be at 54$-56$. A rise to test the resistance is possible.
Support of 47.20$ held well last week as it bounce by making a low of 47.37$.
Expect a range bound movement in the band of 56$-47$

MCX GOLD TRADING STRATERGY:-The trend is down.
Movement gets narrowed.
Sell on fall below Rs. 14022 with stop loss of Rs. 14465 or high of the day whichever will higher at the time of breakdown.
Till then hold earlier short positions with stop loss of Rs. 14465.
No fresh positions advisable until break of Rs. 14022.
As the trend is down, to minimize risk, intra-day traders can wait for a rise above Rs. 14270 and when it falls below Rs. 14270 then sell with whatever high registered above Rs. 14270 as a stop loss. Subsequently, book profits at Rs. 14197 – Rs. 14116 range or below.

MCX SILVER TRADING STARTERGY:-The trend is down but nature of movement is sideways.
Ideally, cover short positions at market price and on dips to Rs. 20415 – Rs. 20279 as the opportunity arises.
Sell only on fall and close below Rs. 20180