FW: EXPECTAION FOR 6TH APRIL 2010

USD / INR ::

 

Sell USD on rise to 44.5-44.64 with a stop loss of 44.80.

Expect lower range of 44.21-43.78 to be tested.

Expect support around 44-43.61 to be tested.

 

MCX SILVER TRADING STRATERGY ::

 

Hold long positions with a stop loss of 27216. Traders can Book profits in long position on rise to 27564-27877 as the opportunity arises.

Expect minor correction to sideways movement on fall and close below 27216.

The rally can continue only on rise and close above 27600.

Selling pressure could be seen if the support and the stop loss for long of 27216 is violated.

 

MCX GOLD TRADING STRATERGY ::

 

Exit long positions on rise to 16502-16568-16600 as the opportunity arises.

Traders holding long positions can keep a stop loss of 16400.

Fresh long positions can be undertaken on rise and close above 16600

 

 

SPOT SILVER ::

 

Traders by chance holding long positions can keep a stop loss of 17.75$.

Expect higher range of 18.2$-18.6$ to be tested.

 

SPOT GOLD ::

 

Hold long positions if any on dip to 1127$-1121$ with a stop loss of 1111$.

Expect higher range of 1136$-1151$ to be tested.

 

ZINC LME ::

 

Corrective dip to 2342$-2254$ can be used for buying with a stop loss of 2188$.

Expect higher range of 2484$-2572$ to be tested

 

TIN LME ::

 

Corrective dip to 17972-17203 can be used for buying with a stop loss of 16650$. Expect higher range of 19292$-20062$ to be tested.

NICKLE LME ::

The expected level of 25150$ has been attained.

The 14 week RSI is now in overbought zone. Till RSI remains in overbought zone, momentum on the upside can continue.

Corrective dip to 24453$-23247$ can be used for buying with a stop loss of 22600$.

Expect a rise towards 26307$-27513$ which can be used to take profits on long positions

 

 

COPPER LME ::

 

A breakout and close above 7800$ was witnessed last week. Copper on LME closed at 7865$ last week.

Corrective dip during the week to 7632$-7332$ can be used for buying with a stop loss of 7100$.

On further rise and close above 7965$, expect a rise towards 8164$-8464$.

 

MCX  COMMODITY  VIEWS ::

 

MCX Gold April: Supports are at 16270/16285 levels followed by 16170/16185. Favored view expects prices to find support at these levels and then start moving up. Rise above 16510 to take price toward 16635 level. Fall below 16065 to negate our view.

S1:16430 S2:16350 R1:16570 R2:16650.

 

MCX Silver May: Supports are seen at 27085 levels followed by 26795. Favored view expect prices to hold this support and start moving up towards 28010 levels. Only fall below 26420 to negate our bullish view.
S1:27245 S2:27067 R1:27590 R2:27770.

 

MCX Crude Oil April:Initial resistance is seen at 3855 level. Once above 3855 prices are likely to move towards 3957 levels. Supports are seen at 3785

S1:3810 S2:3770 R1:3890 R2:3920

 

MCX Copper April: Retracements is expected in copper. 352 is likely to give strong support. Break of which may take prices towards 347/348 levels. Until this support holds rise towards 362 levels is expected.
S1:351.80 S2:347.80 R1:358.80 R2:362.80

 

MCX Zinc Apr: Until the resistance at 108.30 caps up moves retracements towards 106.10 followed by 104.80 is expected. Direct rise above 108.30 to negate our view and is likely to take prices towards 109.50 levels.
S1:106 S2:105 R1:108 R2:109.

 

MCX Lead April: Supports are seen at 98.40 followed by 97.70.Favored view expects prices to hold this support and move up from these levels towards 102 levels Fall below 96.5 to negate our view.
S1:98.50 S2:97.50 R1:100 R2:101

 

MCX Nickel April:Until the resistance at 1150 caps up moves retracements towards 1118 followed by 1105 is expected. Direct rise above 1150 to negate our bearish view and is likely to take prices towards 1180 followed by 1210 levels.
S1:1119 S2:1108 R1:1139 R2:1151.

 

MCX Natural Gas Apr:  Prices are just below strong resistance of 192/193 levels. Until this resistance caps up moves prices are likely to retrace towards 187 levels. Direct rise above 193 to take prices towards 198 levels followed by 204. 
S1:188 S2:184 R1:194 R2:198

 

ENJOY  TRADING  !!!!

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