VIEWS FOR 26TH AUGUST 2009

MCX Gold Oct : Resistance at 15075-15125 to cap for a decline towards 14760 levels now.
S1: 14936 S2: 14883 R1:15037 R2: 15085

MCX Silver September: Moving in the range 23595 – 22960. A break of the range would decide the next directive move. S1: 23180 S2: 22960 R1: 23530 R2: 23792

MCX Copper Aug : As long as 311.50/312.50 caps expect a fall towards 299 or even lower.
S1: 302 S2: 298 R1: 309.20 R2: 313

MCX Crude Oil Sept: As expected we saw a fall towards 3485. Resistance at 3573 followed by 3607. Favored view expects resistances to cap for a decline towards 3411. S1:3460 S2:3411 R1:3544 R2:3608

MCX Zinc Aug: Support is at 87.50/87.20. As long as support hold prices could stay firm and test resistance at 91.20. Fall below 87.20 could se prices falling towards 85.00/84.70. S1: 87.57 S2: 86.70 R1: 89.05 R2: 90.00

MCX Lead Aug: While above 95.30 prices could stay firm. Resistance is now seen at 99.90 / 100.30. A fall below 95.20 could see correction in prices to supports at 93.00 / 92.00.
S1:95.35 S2:93.80 R1:99.35 R2:100.30

MCX Nickel Aug: Support is at 926 levels now. Fall below 923 could see a move lower towards next supports at 903 / 893. As long as 923 levels holds prices could stay firm and test resistance at 970 levels. S1:926 S2:905 R1:958 R2:979

MCX Natural Gas Sept: Oversold conditions do hint at a chance of corrective recovery in prices. However a breach of 166/168 would spark such a rally towards 175/180 levels. Support is at 157 / 155 levels now. S1:158 S2:153 R1:166 R2:172

MCX Mentha Oil Aug : - Support is at 510.50 levels. A breach of the same could see 508 or even 502 levels. Rallies could find stiff resistance at 518 /521 levels. Only a rise above 524 would see prices rising again. S1:- 510.50 S2:- 505 R1:- 517 R2:- 522.50

MCX GOLD TRADING STRATERGY:-Use rise to 14987-15040 to exit long positions as the opportunity arises.
Buy on rise and close above 15084 with low of the day stop loss.
Expect lower range of 14908-14855 to be tested

MCX SILVER TRADING STRATERGY;-
Buy on rise and close above 23496 with low of the day stop loss at the point of breakout.
Corrective dip to 23281-23130 can be used for buying with a stop loss of 23000.
Sell on fall below 23000 with high of the day stop loss.

INTERNATIONAL SPOT GOLD :-
Sideways volatile and inclusive moves are being witnessed.
The band of movement is getting narrower between its earlier peaks and troughs.
Resistance will be at 951-958$.
Support will be at 937$-935$.
Use rise to higher range to exit long positions

ENJOY TRADING !!!!