EXPECTATIONS FOR 12TH APRIL 2010 ::
GOLD MCX JUNE ::
Hold long positions with a stop loss of 16692.
Fresh trading long positions can be undertaken on rise above 16900.
SILVER MCX JUNE ::
Hold long positions with a stop loss of 27216.
Corrective dip to 27622-27480 can be used for buying. Expect higher range of 27831-27973 which can be used to take profit.
NYMEX CRUDE OIL ::
Sell on fall blow 84$ with high of the day stop loss. Sell on rise to 85.50-86$ with a stop loss of 88$.
A breakout and close above 88$ strong can bring about a subsequent rally.
MCX EXPECTATIONS ::
MCX Gold June: The structure is bullish and favors a rise to 17232/17305.Initial resistance will be seen at 16870-16943 zones. Corrective dips,, if any, could get cushioned near 16581/16652 region or maximum 16509.
S1:16745 S2:16665 R1:16905 R2:16985
MCX Silver May:Supports are near 27516, 27440 $ 27138. Corrective dips, if any, could be held near these levels for a rise towards 28500/28575 levels.
S1:27595 S2:27445 R1:27895 R2:28045
MCX Copper April: Strong resistance will be seen in the 361 zone. A technical target is seen at 367-368 from where a good reaction is expected.
S1:346 S2:342 R1:354 R2:358
MCX Crude Oil April: Supports near 3721 or maximum 3681 could hold for a rise towards 3888/3911. Bullish view would become doubtful if price if price unexpectedly fall below 3677.
S1:3712 S2:3672 R1:3792 R2:3832
MCX Zinc Apr: Dips to 104.75 to hold support for a rise towards 107.50 followed by important resistance in the 108-109 zones.
S1:103.40 S2:101.40 R1:107.40 R2:109
MCX Lead Apr:Initial resistance is at 104.75-104.80 levels followed by 105.45-50. We favor a rise to 108 levels while prices stay above 100.25. We favor a rise to 108 levels while prices stay above 100.25.
S1:100 S2:98 R1:104 R2:106
MCX Nickel Apr: Dips to 1108/1110 to hold supports for a test of 1128/1130 levels or even higher.
S1:1103 S2:1093 R1:1123 R2:1134
MCX Natural Gas Apr:Supports at 178 to hold any corrective dips for a move towards 186-188 levels now.
S1:176 S2:172 R1:186 R2:192
Manish Parmar
Cell :+91-9820555212
