VIEWS FOR 7TH AUGUST 2009

MCX Gold Oct : Bullish for 15163 or ideally 15318.Dips if any could be held at 14852 , 14775 or 14744. S1: 14840 S2: 14760 R1: 14995 R2: 15080

MCX Silver September: Price structures indicate as long as 23595-23627 caps we could see a fall towards 22430- 22477 levels. Unexpected rise above 23898 to dent our bearish expectation. S1: 23180 S2: 22960 R1: 23485 R2: 23645

MCX Copper August : Rallies to 292- 293.10 to cap for a test of 279.35- 281.45 levels or even lower. Unexpected rise above 296.0 to cause doubts on our corrective expectations. S1: 286 S2: 282 R1: 295 R2: 299

MCX Crude Oil Aug:Bullish. Can rise to 3483-3498. Support at 3414-3405 maximum at 3350-3335. Stop below 3321. S1:3395 S2:3360 R1:3485 R2:3520

MCX Zinc Aug: Rallies to 88.10- 88.40 to find resistance for a move lower towards 85.0/ 84.75 levels. A rise above 89.80 to negate this bearish view. S1: 86.80 S2: 86.0 R1: 88.50 R2: 89.70

MCX Lead Aug:Rallies to 90.10/90.50 to find resistance for a fall towards 87.0/ 86.50 levels. A rise above 91.55 to negate this bearish view. S1: 88.0 S2: 87.0 R1: 90.50 R2: 92.20

MCX Nickel Aug:Rallies to 940 / 948 find resistance for a move lower towards 900 /895 levels . A rise above 962 to negate this bearish view. S1: 920 S2: 905 R1: 945 R2: 962

MCX Natural Gas August : Dips to 176/172 to find support for a move higher towards 194.0 levels . A fall below 171.30 to negate this bullish view .S1: 178 S2: 174 R1: 186 R2: 191

TRADING STRATEGY ::

GOLD MCX AUGUST ::

Traders can hold long positions with a stop loss of 14850 and look for rise to 14933-15002 to exit long to take profit.
Re-enter long positions on rise above 15020 with low of the day stop loss or 14850 whichever is lower at the point of breakout.

SILVER MCX SEPTEMBER ::

Traders holding long positions can maintain a stop loss of 23211.
Exit long positions on rise to 23472-23680 range as the opportunity arises.

INT. SPOT GOLD ::

Trader, if holding long positions can maintain a stop loss of 950$.
The next resistance zone can be 973$-989$.
Traders holding long positions can look for rise to the resistance to take profit as the opportunity arises.

INT. SPOT SILVER ::

Exit long positions and take profit at current price of 14.64$-14.84$-15.03$ as the opportunity arises.
Re-enter long on rise and close above 15.03$.
A sideways movement to minor correction is likely before further attempts to move higher beyond yesterday’s high of 15.03$.

NYMEX LIGHT CRUDE OIL ::

Hold long positions if any with a stop loss of 69$.
Resistance will be at 72.2$ and 73.8$.
Traders can buy on rise above 72.2$ with low of the day stop loss or 70$ whichever is lower at the point of breakout.