VIEWS FOR 25TH MAY 2009

VIEW FOR THE WEEK ::
MCX Gold June: Immediate support is at 14485 followed by 14409/14424 levels . A possibility of a decline to 14256 also looks likely.Favored view expects support in the 14409 zone to hold for a test of 14745 or even higher.S1: 14450 S2: 14350 R1: 14650 R2: 14765

MCX Silver July : Supports are at 22576 followed by 22359/22390 now.Favored view expects a test of 23712 or even higher as long as 22265/22298 supports attempts to decline.S1: 22535 S2: 22340 R1: 22775 R2: 23000

MCX Copper June: Strong resistance will be seen at 226.40/227.45 levels now. Big picture confirms a possible test of 247.35 or even higher towards 256.70 levels as long as 212.0/213.0 levels hold support. Fall below 210.65 to dent our bullish view.S1: 215 S2: 213 R1: 223 R2: 227

MCX Crude Oil June : A push above 2951 could lead it to 3019. Supports near 2826 or 2776 could hold dips during the week for a push above 2949.This is the favored view. Fall below 2741 would be a sign of weakness. Next supports are at 2713 2675.S1: 2875 S2: 2825 R1: 2935 R2: 3000

MCX Lead May : Down moves are likely to find support at 66.3 levels. Moves below this can take it further lower towards 64.3 levels.Direct rise above 68.4 to negate our bearish view. S1: 66.8 S2: 65.3 R1: 68.4 R2: 70.2

MCX Zinc May : Strong support is seen in the range of 67.6 67.9. Down move are likely to find support at these levels.Direct rise above 70.8 to strengthen bullishness. S1: 67.9 S2: 66.6 R1: 70.85 R2: 71.7

MCX Nickel May : Favored view expects prices to move further down towards 580 support levels before rising higher towards 615 levels.S1:580 S2:565 R1: 610 R2: 621

MCX Natural Gas June : Strong support seen at 168 165 levels to hold dips for a move above 175 levels.Fall below it can take prices towards 160 levels. S1: 168 S2: 166 R1: 174 R2: 179

TRADING STRATIGIES FOR THE DAY::

GOLD MCX JUNE ::

Resistance of 14577 will be tested. Further need to be seen if it can sustain.
Trend line resistance are lying overhead.
First trend line resistance is from the broken trend line and next is of the falling lower tops as shown in the chart.
The trend is down has the price is below the average and daily reversal value. The rise is termed as a pull back.
Intra-day traders can wait for a rise above 14577 and when it falls below 14577 then sell to cover at 14517-14463 range as the opportunity arises.
Sell on fall and close below 14456 with high of the day stop loss or 14577 whichever is higher at the point of breakdown.

SILVER MCX JULY ::

Overall sideways movement within the band of 23181 to 21632 is being witnessed.
Immediate support is at 22648-22407-22376.
Resistance will be at 22919-23160
Corrective dip to 22648-22407 can be used for buying with a stop loss of 22375 and look for rise to 22919-23160 above to take profit.
Recent high of 23181 is the near term target. On close above 23181, the rally could get extended.


INTERNATIONAL SPOT GOLD ::

Support will be at 949$.
Resistance will be at 961$-969$.
Traders can hold long positions with a stop loss of 949$.
Fresh trading long position can be undertaken above 962$


INTERNATIONAL SPOT SILVER ::

Support will be at 14.54$-14.4$.
Resistance will be at 14.84$.
Hold long positions with a stop loss of 14.4$.
Fresh trading buy can be undertaken above 14.54$. Subsequently, expect 14.9$ to be tested.

ENJOY TRADING !!!!
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EXPECTATION OF SPOT GOLD SILVER WITH TRADING STRATEGY AS ON 14TH APRIL

INTERNATIONAL SPOT GOLD :A strong moves was witnessed yesterday to cross 897$.
Expect resistance at 899$-903$ which will be tested.
A pullback rise of the fall from 967$ to 869$ is in process.
The retracement levels are placed at 903$-915$-927$.
A pullback to these retracement could be witnessed. If Gold fails to sustain at these retracement and react down sharply then we could find price moving below 869$ subsequently.
On the immediate front, a rise to test the retracement level is like with first at 903$.

INTERNATIONAL SPOT SILVER:A strong positive candle was witnessed yesterday along with a rise and close above 10 day moving average.
A pull back towards the trend line is possible if another round of follow up rise above 12.88$ is witnessed.
Traders can trade long above 12.88$ with low of the day stop loss at the point of breakout above 12.88$.
The trend line value is around 13.25$

MCX GOLD TRADING STRATERGY :Cover short positions on dip to 14360-14251 as the opportunity arises.
Resistance will be at 14469-14485.
On further close above 14485 with positive candle can resume a pullback rise for near term towards 14594-14650.
Support will be at 14251-14235.
During the day a rise to test the L3-L4 range could be attempted.
If the close is above 14485 then we could see a rise to retrace the fall from 15595 to 14022. The 38.2% is placed at 14619.

MCX SILVER TRADING STRATERGY:Resistance will be at 21199-21280-21323.
Resistance could be tested but sustainability at higher range can be an issue.
Traders holding short positions can cover the same at current price of 21069-20692 range as the opportunity arises.
Intra-day traders willing to take risk can wait for a rise above 21323 and when it falls below 21323 then sell with high above 21323 as the stop loss.
In case of a close above 21323 with a positive candle then in days to come, we could see a pullback rise of the fall from 22936 to 20180. The retracement levels of this fall would be placed at 21224-21569-21894.

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

VIEWS AS ON 9 TH APRIL

INTERNATIONAL SPOT GOLD :Range of movement is 864$-897$.
Yesterday low of 877$ as the immediate support but sell on fall below 877$ and keep a stop loss at 897$.
Resistance will be at 891$-897$.
Traders willing to take risk can wait for a rise above 891$ and when it falls below 891$ then sell with high above 891$ as the stop loss or 897$ whichever is higher
Major selling pressure can be witnessed only on fall and close below864$.
We could find price moving up to test the violated trend line before significant attempts to fall down lower. Above 897$ a rise to 910$ or towards the trend line which is placed around the same level is possible and will be confirmed

INTERNATIONAL SPOT SILVER:-Support is being witnessed at lower range of 12.16$-11.89$.
Expect further sharper selling pressure on fall and close below 11.89$.
Traders holding short positions can maintain a stop loss of 12.77$ overall.
Resistance will be at 12.49 and 12.77$.
Trades can cover short positions at current price to 11.89$ as the opportunity arises.
Re-enter short below 11.89$. Alternatively, wait for a rise above 12.49$ and when it falls below 12.49$ then sell with high above 12.49$ as the stop loss from purely intra-day angle. Or Sell on rise to 12.49 or above with sl of 12.77$ which is of wider range in terms of stop loss difference

NYMEX CRUDE :-Support of 47.20$ is under threat of violation.
Failing to sustain at higher range of 54$-56$ has been putting pressure of the support regularly to bounce up later again.
Expect selling pressure to be witnessed below 47$.
Use rise towards 52$-54$-56$ to exit long positions in loss or profit.
Re-enter long position on rise and close above 56$.
Traders already holding long positions need to maintain a stop loss of 47$

MCX GOLD TRADING STRATERGY:-The trend is down.
Sell on rise to Rs. 14325 – Rs. 14438 with stop loss of Rs. 14502.
Expect a fall towards Rs. 14184 – Rs. 14071.
Add more on fall below Rs. 14020.
On sustain fall prices are likely to test the level of Rs. 13848 in coming sessions.
As the trend is down, to minimize risk, intra-day traders can wait for a rise above Rs. 14438 and when it falls below Rs. 14438 then sell with whatever high registered above Rs. 14438 as a stop loss. Subsequently, book profits at Rs. 14325 – Rs. 14184 range or below

MCX SILVER STRATERGY:The trend is down.
Sell on fall below Rs. 20180 with high of the day as a stop loss.
As the trend is down, to minimize risk, intra-day traders can wait for a rise above Rs. 20761 and when it falls below Rs. 20761 then sell with whatever high registered above Rs. 20761 as a stop loss. Subsequently, book profits at Rs. 20542 – Rs. 20334 range or below

VIEWS WITHH TRADING STRATEGY FOR 8TH APRIL 2009

MCX Gold June: As expected we saw a pullback to 14285/14320 levels. Could extend to 14430 or even higher towards 14510. Dips can be expected to find support near 14220/14240 levels. However, in the bigger picture as long as 14675/14710 levels caps upside attempts we expect a break below 14030 andtest 13670 levels.S1: 14130 S2: 14030 R1: 14430 R2: 14510

MCX Silver May: Expected to consolidate between 20375/20460 and 20625/20710 and rise higher towards 20930 or even higher towards 21080.Unexpected fall below 20375 to cause doubts on our bullish view. S1: 20460 S2: 20350 R1: 20625 R2: 20700

MCX Copper April: Consolidation between 216 to 225 in progress preparing for a 228 or even higher towards 232/234 levels. However,fall below 215 to dent our bullish expectations and result in a sharp fall towards 208 or even lower towards 198 levels.S1: 213 S2: 206 R1: 224 R2: 230.

MCX Crude Oil April : Resistances are at 2510 followed by 2560 on the upside. Favored view expects resistances to cap for a decline towards 2360.consolidation to continue and rise towards 2775 or even higher.S1: 2400 S2: 2360 R1: 2510 R2: 2560

MCX Zinc April: Prices are likely to move down and find support at 66.1 levels. Unable to hold this support may take it further down to 65.0 levels.Moves above 68.5 to negate our bearish view. S1: 66.5 S2: 65.7 R1: 68.2 R2: 69.5

MCX Lead April: Supports are at 66.0 and 65.0. Prices are likely to hold this support and move up towards 68.2 levels. Unexpected fall below 65.0 to dent our bullish view.S1: 66.0 S2: 65.0 R1: 67.3 R2: 68.5

MCX Nickel April: Up moves beyond 552 may take prices further up towards 560/565 levels.Fall below 530 to dent our bullish view.S1: 542 S2: 533 R1: 550 R2: 560

MCX Natural Gas April : Prices have closed below the support of 184 indicating bearishness. Down moves are likely to take prices to 173/175 levels.Unexpected rise above 190 to dent our bearish view. S1: 178 S2: 173 R1: 184 R2: 190



TRADING STARTEGY ::
GOLD MCX JUNE ::
The trend is down but a short covering is being witnessed.
Ideally, cover short positions at market price and on dips to Rs. 14256 – Rs. 14192 as the opportunity arises.
Sell on fall below Rs. 14020.
As the trend is down, to minimize risk, intra-day traders can wait for a rise above Rs. 14361 and when it falls below Rs. 14361 then sell with whatever high registered above Rs. 14361 as a stop loss. Subsequently, book profits at Rs. 14256 – Rs. 14192 range or below.

SILVER MCX MAY ::

The trend is down but a short covering is being witnessed.
Ideally, cover short positions at market price and on dips to Rs. 20424 – Rs. 20258 as the opportunity arises.
Sell on fall below Rs. 20180.
As the trend is down, to minimize risk, intra-day traders can wait for a rise above Rs. 20668 and when it falls below Rs. 20668 then sell with whatever high registered above Rs. 20668 as a stop loss. Subsequently, book profits at Rs. 20424 – Rs. 20258 range or below.

INTERNATIONAL SPOT GOLD ::

Support will be at 874$-864$.
Sell on fall and close below 864$.
Resistance will be at 889$-897$.
A pullback towards the trend line which has been violated will be attempted.
An H&S pattern could be in place. The trend line or the neckline is violated. A close above 910$ will mean a false breakdown attempts.
On fall below 864$, expect a slide towards 821$-801$.
A couple of days o sideways movement a minor upside bias could be witnessed before a further follow up down move.

INTERNATIONAL SPOT SILVER ::

Support will be at 11.89$.
Resistance will be at 12.41$-12.56$-12.77$.
Expect further selling pressure on fall and close below 11.89$.
A rise to test the resistance is possible as a result of the sharp down move yesterday. The resistance of 12.41$-12.56$ could be tested.

TECHNICAL VIEW OF SPOT GOLD SILVER AND TRADING STRATEGY

INTERNATIONAL SPOT GOLD VIEW:----A breakout was witnessed yesterday as it fell and close below the level of 882$ which is the 38.2% retracement of the rise from 681$ to 1006$.
Expect lower range of 845$ to be tested in days to come at least and to an outer extent to 806$.
Resistance will be at 882$ and 897$.
A rise and close above 897$ can halt the fall and a rise back up to test the lower top of 967$ could be a possibility.
The fall yesterday was sharper therefore we could have a bounce towards the resistance of 882$ at least.
Sell on fall and close below 864$ with high of the day stop loss.
Alternatively, traders can sell on rise to 882$-890$ with a stop loss of 897$. In order to minimize risk, traders can wait for a rise above 882$ and when it falls below 882$ then sell with high above 88$ as the stop loss.

INTERNATIONAL SPOT SILVER VIEW:---Support will be at 11.89$.
Resistance will be at 12.41$-12.56$-12.77$.
Expect further selling pressure on fall and close below 11.89$.
A rise to test the resistance is possible as a result of the sharp down move yesterday. The resistance of 12.41$-12.56$ could be tested.

NYMEX LIGHT SWEET CRUDE OIL:---Resistance will be at 54$-56$.
A further rally can only be witnessed on rise and close above 56$.
Support range is at 50$-47.20$.
A sideways movement in a wider band of 56$-47$ is likely to be witnessed.
A fall and close below 47$ can take the price back down to test he low of 36$-32$ range.
Traders who are holding long positions need to maintain overall stop loss of 47$

MCX GOLD TRDING STRATEGY:---The trend is down.
Sell at market price and on rise to Rs. 14189 – Rs. 14357 with stop loss of Rs. 14425.
Expect a fall towards Rs. 13954 – Rs. 13786.
As the trend is down, to minimize risk, intra-day traders can wait for a rise above Rs. 14357 and when it falls below Rs. 14357 then sell with whatever high registered above Rs. 14357 as a stop loss. Subsequently, book profits at Rs. 14189 – Rs. 13954 range or below.

MCX SILVER TRADING STRATERGY:----The trend is down.
Sell at market price and on rise to Rs. 20603 – Rs. 20950 with stop loss of Rs. 21206.
Expect a fall towards Rs. 20000 – Rs. 19654.
As the trend is down, to minimize risk, intra-day traders can wait for a rise above Rs. 20603 and when it falls below Rs. 20603 then sell with whatever high registered above Rs. 20603 as a stop loss. Subsequently, book profits at Rs. 20000 – Rs. 19654 range or below

views and trading stratergy for monday 6 th april

MCX Gold June: Any rallies to 14600 to resist upside attempts quite strongly for a push to next levels at 13995/14010 or ideally 13700.Rise above 14790 could lead it up towards nearer resistance levels at 14870, 15115 or even 15180.Only a rise above 14790 would suggest the possibility of the end of a downward correction. S1: 14420 S2: 14290 R1: 14600 R2: 14720

. MCX Silver May :Favoured view expects a fall to 20400/19900 area initially.Resistance levels are at 21455, 21520 ,21570. Rise above 21723 would change this view.S1: 20815 S2: 20510 R1: 21550 R2: 21900

MCX Crude Oil April : The view is bullish for a rise towards 2820/2845. Supports are around 2580 2540. It has to fall below 2500 to give up this bullish view as such a fall could take it down to next levels at 2445 or even 2385.S1: 2570 S2: 2500 R1: 2650 R2: 2725

MCX Copper April: There is good scope for a corrective dip towards 210/211 levels on the back of heavily overbought indications.Supports are at 213/214 followed by 211. Fall below 206 could damage the bullish picture. S1: 213 S2: 206 R1: 224 R2: 230

MCX Zinc April: Close above 68.0 indicates bullishness. Up moves may take prices further high Moves below 65.0 may negate our bullish view.S1: 65.0 S2: 63.0 R1: 67.0 R2: 69.4

MCX Nickel April: Prices may consolidate for some time. Dips to 530/533 levels could find support for a move higher again towards 560 levels. A fall below 527 would negate this view.S1: 533 S2: 527 R1: 550 R2: 560

international spot gold;The channel had got violated some days back. It has tested the 38.2% retracement of the rise from 681$ to 1006$.
The 38.2% retracement was earlier tested in last couple of week and once again it has moved below the same in the early morning session. The 38.2% retracement is placed at 882$.
On further sustained fall and close below 882$, expect a slide down towards 844$ at least and to an outer extent to 806$.
Traders holding short positions can maintain a stop loss at 910$

nymex crude oil:Resistance will be at 54$-56$.
The higher bottom is placed at 47.20$.
Use rise towards 54$-56$ to book profits.
Re-enter long positions on close above 56$.

spot silver:
Last week’s low of 12.56$ has been violated in the early morning session.
Expect the low of 11.89$ to be tested.
Traders holding short positions can maintain a stop loss of 12.77$.
Resistance will be at 12.56$-12.65$.
Sell on rise to 12.56$-12.65$ with a stop loss of 12.77$.

mcx gold trding stratergy:The trend is down.
Sell at market price and on rise to Rs. 14582 – Rs. 14657 with stop loss of Rs. 14714.
Expect a fall towards Rs. 14449 – Rs. 14374.
On sustain fall, prices could touch important support area of Rs. 14240 – Rs. 14030.
As the trend is down, to minimize risk, intra-day traders can wait for a rise above Rs. 14582 and when it falls below Rs. 14582 then sell with whatever high registered above Rs. 14582 as a stop loss. Subsequently, book profits at Rs. 14449 – Rs. 14374 range or below

mcx silver trading stratergy;-The trend is down.
Sell at market price and on rise to Rs. 21328 – Rs. 21507 with stop loss of Rs. 21555.
Expect a fall towards Rs. 21100 – Rs. 20920.
As the trend is down, to minimize risk, intra-day traders can wait for a rise above Rs. 21328 and when it falls below Rs. 21328 then sell with whatever high registered above Rs. 21328 as a stop loss. Subsequently, book profits at Rs. 21100 – Rs. 20920 range or below.

WEEKLY OUTLOOK AS ON SUNDAY 5 TH APRIL

GOLD TECHNICAL OUT LOOK:Comex Gold (GC)
The choppy pull back from 967.8 extended further last week but after all, the corrective look of such fall is still consistent with the short term bullish view. Considering that Gold is now close to 882.7 support, initial outlook is neutral this week. Break of 932.5 will suggest that rise from 882.7 has resumed. As discussed before, corrective fall fro 1007.7 has completed at 882.7 and rise from there is tentatively treated as resumption of recent up trend. Beak of 967.8 will add much credence to this case and bring retest of 1007.7/1033.9 resistance zone. However, note that break of 882.7 will dampen the short term bullish case and bring deeper decline towards 801.5 cluster support (61.8% retracement of 681 to 1007.7 at 805.8 ).
In the bigger picture, while the correction from 1007.7 was slightly deeper than expected, the overall outlook doesn't change. That is, consolidation from 1033.9 has already completed at 681, in form of an expanding triangle pattern. Long term up trend is tentatively treated as resumed at this point and further rise should be seen to retest 1033.9 high. Break will confirm the bullish case and target 161.8% projection of 681 to 892 from 801.5 at 1142.9 next. On the downside, however, another fall below 882.7 will open up a few short term bearish scenarios that should at least bring deeper fall to 801.5 cluster support or below before resuming the long term up trend.
In the long term picture, as mentioned before, Gold's long term up trend from 260 is still in progress. Break of 1033.9 will confirm that such up trend has resumed and should target 61.8% projection of 260 to 1033.9 from 681 at 1159 next.

SILVER TECHNICAL OUTLOOK:Comex Silver (SI)
Silver's choppy pull back from 13.88 continued last week but after all, it's still holding 12.64 support after various attempt for break through. Initial outlook will remain neutral this week and some more sideway trading could be seen. But after all, we're still expecting 12.64 support to hold. Above 13.35 will flip intraday bias back to the upside and argue that rise from 11.89 is resuming. As discussed before, corrective fall from 14.6 should have completed with three waves down to 11.89 already. Break of 13.88 resistance will add further credence to this case and bring retest of 14.6 high. However, note that sustained break of 12.64 will dampen the short term bullish case and will put focus back to 11.89 low.
In the bigger picture, whole down trend from 21.44 has likely completed at 8.4 already and rise from there is still in progress. Focus now turns to next resistance at 16, with medium term falling trend line at 12.99 and 61.8% retracement of 21.44 to 8.4 at 16.45. Sustained break will confirm this case and argue that long term up trend is resuming and should target 21.44 high next. On the downside, break of 11.89 support is needed to be the first signal that rise from 8.4 has completed. Otherwise, outlook will remain bullish.
In the longer term picture, Silver's fall from 21.44 is treated as correction, or part of consolidation to the long term five wave rally from 4.315 and should have completed at 8.4 after being supported slightly above 76.4% retracement of 4.315 to 21.44 at 8.36. On resumption, the long term up trend should target 100% projection of 4.315 to 21.44 from 8.4 at 25.52 next.

CRUDE TECHNICAL OUTLOOK:Nymex Crude Oil (CL)
Crude oil dipped to 47.26 last week but drew support from near term rising channel as well as 55 days EMA and rebounded. Rise from 33.55 should still be in progress and further upside should be seen to 54.66 first this week. Break will target next key level of 60, which is close to 23.6% retracement of 147.27 to 33.5 at 60.34. On the downside, below 47.26 will turn short term outlook neutral again and suggests that consolidation from 54.66 is still in progress. But after all, rise from 33.55 is still expected to resume as long as 42.08 cluster support holds.
In the bigger picture, prior break of 50.47 resistance serves as an important signal that crude oil has finally bottomed out in medium term at 33.55, on bullish convergence condition in daily MACD, after drawing support from 17.12/33.5 key long term support zone. Sustained trading above 50.47 confirms this case and open up the prospect of stronger rally towards next key level at 90.51 (50% retracement of 147.27 to 33.5 at 90.38). However, failure at the current level, followed by break of 42.08 cluster support will revive that case that rise from 33.55 is just part of a medium term sideway consolidation pattern and will put 33.55 low back into focus.
In the longer term picture, steep decline from 147.27 is treated as a correction in the larger up trend only and should be contained by 17.12/33.5 support zone and bring strong rebound towards 90.51 resistance level. Focus will remain on confirmation of reversal for the moment.

views for 3 rd april

MCX Gold June: Rallies to 14770/14800 to resist for a fall towards 14345 or even lower.This is our favored view. Unexpected rise above 14900/14915 to dent our bearish expectations. S1: 14630 S2: 14345 R1: 14800 R2: 14920

MCX Silver May: Immediate resistance is at 21800 now. Structure looks bullish for a test of 22030 or even higher towards 22280/22295 as long as import support at 21215 holds.S1: 21460 S2: 21180 R1: 22050 R2: 22450

MCX Copper April: Market showing some corrective signs. Immediate support is at 206 followed by crucial support at 203/204.Ideally we expect supports to hold for a test of 213/214 levels. Fall below 202 to lessen the magnitude of the rise again. S1: 206 S2: 201 R1: 213 R2: 218

MCX Crude Oil April : Supports are at 2570/2580 levels now. Favored view expects this zone to provide good support and rally towards 2725 or even higher. Fall below 2540 to alter the bullish picture and unexpected fall below 2520 could change our bullish view to bearish.S1: 2570 S2: 2500 R1: 2650 R2: 2725

MCX Zinc April: Supports are now at 65.9/66.0.Above this level prices are likely to move up towards 68/68.5 levels.Direct fall below 65.85 will cause doubts about this view. S1: 65.9 S2: 64.9 R1: 66.8 R2: 67.45
MCX Nickel April: Dips to 518/520 levels could find support for a move higher towards 540 levels now.A fall below 515 would negate this view.S1: 521 S2: 512 R1: 534 R2: 540

INTERNATIONAL SPOT GOLD VIEW :In our yesterday’s update, a sell was indicated on fall below 916$. The low registered yesterday was 893.7$. Traders who have been able to sell as indicated had the opportunity to benefit.
Resistance now will be at 908$-916$.
Expect lower range of 894$-882$-973$ to be tested.
Spurt to resistance could be used to sell.
A close above 930$ with a positive candle can only halt the fall generally.
Since yesterday movement was large, we could find some sideways movement within the yesterday price range of 930$-893$.

INTERNATIONAL SPOT SILVER VIEW:In our yesterday’s update, we had indicated that selling pressure could be witnessed below 12.82$.
The low registered yesterday was 12.56$ but recovered and closed at 12.92$.
Support is being witnessed at lower range of 12.59$-12.56$.
Expect further selling pressure on fall and close below 12.56$.
A rising channel from the low of 8.7$ to 14.63$ has been violated but it just trying to hold on to the lower channel line. Recovery after breakdown is being witnessed thereby has managed to remain around the lower channel line.
If the close is below 12.56$ then expect a slide

NYMEX CRUDE OIL VIEW:A strong bounce back has been witnessed.
In last few week, attempt for breakout and close above 50.50$ has been witnessed.
Crude went up to 54.66$ and reacted down to 47.26$. It is now back up to 52.64$.
Resistance will be at 54$-56$.
Resistance will be tested.
In case of further breakout and close above 56$ in days to come then expect a rise towards 64$.
As a result of the large up move yesterday. Corrective dip to 51.3$-49.8$ can be used for buying.

MCX GOLD TRADING STRATERGY:Trend is down therefore general objective will be to sell and indentify sell opportunities.
Sell on rise to 14773-14988 with a stop loss of 15070.
Intra-day traders to minimize risk can wait for a rise above 14773 or 14988 and when it falls below 14773 or 14988 then sell with high above 14773 or 14988 as the stop loss.
A rising Raff Regression channel of the rise from 11650 to 16035 has been violated yesterday with volumes.
Therefore, yesterday low will be important and could just hold the fall for a day or two before further attempts for a follow up of the breakdown.
A close above yesterday high can momentarily halt the fall subsequently for few days and can make further attempt to test higher range.
Expect selling pressure on further fall and close below 14558

MCX SILVER TRADING STRATEGY:A recovery from the low has been witnessed.
The low registered yesterday was 21075.
Cover short positions for the time being at 21551-21075 range as the opportunity arises.
Sell further on fall and close below 21075.
Intra-day traders can wait for a rise above 21954 and when it falls below 21954 then sell with high above 21954 as the stop loss.

views and trading stratergy for 2nd april

MCX Gold June: As expected we saw a rise towards 15125-15195 levels. Supports are at 14946
followed by 14850 now. Favored view expects supports to hold for a rally towards 15220 or even higher.
Unexpected fall below 14830 to cause doubts on our bullish view.S1:14970 S2:14885 R1:15190 R2:15260
MCX Silver May: Resistances are at 21990/22025 followed by 22310/22360 levels.Important support is at
21440/21470. Favored view expects supports to hold for a rally towards 22630 or even higher.S1: 21460 S2: 21180 R1: 22050 R2: 22450
MCX Copper April: Supports are at 201 levels now. As long as crucial support at 196 remains
undisturbed we expect the bullishness to continue and rally higher towards 217/218 levels.S1: 201 S2: 196 R1: 210 R2: 218
MCX Crude Oil April : Rally above 2460 has opened the way for bullishness again. Resistances
are at 2545 followed by 2570. Supports are at 2420 followed by 2400. Unexpected fall below 2375
to cause doubts on our bullish view.S1: 2400 S2: 2375 R1: 2525 R2: 2560
MCX Zinc April: Supports are now at 64.9.Unable to hold this support may take prices further down
to 63.6 levels.Direct rise above 66.8 may take prices to 68 levels where it can find resistance. S1: 65.85 S2: 64.9 R1: 66.7 R2: 67.45
MCX Lead April: Strong supports are at 62.7 and 60.3 levels.Prices are likely to test support at 60.3.
If support at 62.7 holds prices may move up towards 65.6 levels.S1: 62.7 S2: 60.3 R1: 63.95 R2: 65.6
MCX Nickel April: Dips to 507/509 levels could find support for a move higher towards 524 levels now.
A fall below 509 would negate this view.S1: 510 S2: 502 R1: 518 R2: 525
MCX Natural Gas April : -. Prices have found support at 186/187 levels. Close above 198 may initiate up
rallies towards 205/208 levels. Moves below 186 may take prices further down to 180 levels. S1: 186 S2: 182 R1: 192 R2: 198

mcx gold trading stratergy:The trend is down but a short-covering is likely to be witnessed.
Ideally, cover short positions at market price and on dips to Rs. 15040 – Rs. 14985 as the opportunity arises.
Sell on fall below Rs. 14937.
As the trend is down, to minimize risk, intra-day traders can wait for a rise above Rs. 15193 and when it falls below Rs. 15193 then sell with whatever high registered above Rs. 15193 as a stop loss. Subsequently, book profits at Rs. 15089 – Rs. 14985 range or below.

mcx silver trading stratergy:The trend is down.
Sell on fall below Rs. 21587 with stop loss of Rs. 22141.
Add more on fall below Rs. 21250.
As the trend is down, to minimize risk, intra-day traders can wait for a rise above Rs. 21954 and when it falls below Rs. 21954 then sell with whatever high registered above Rs. 21954 as a stop loss. Subsequently, book profits at Rs. 21771 – Rs. 21551 range or below

nymex crude;
Nymex Crude Last 48.95
Prices are still held within the bearish channel, but dips
to 48.2 is likely to offer a chance to accumulate and
attempt a break of 49.7/50.2 region above which we can
expect a free move up towards 52


Comex Copper Last 1.88
Broad trend is BULLISH targetting $2, however 1.882/5
may prove challenging. Anticipation of a poor NFP data
could cap gains.
BUY DIPS


GOLDspot: Last 927
Initial moves are likely to take support at 924 and attempt another go at breaking the
933/935 level, which is looking formidable now. If this region gives away 939-943 should
attract prices, but rallies are unlikely to evolve unless 951/967 are broken.Meanwhile,
tendency to take prices lower would be alive as ECB is expected to cut rates by 50bps and
announcement unconventional policy measures. Possibility of such a downside move would
evolve once 919 gives away.

views as on 1-04-2009

MCX Gold June: Rise above 15095/15110 could indicate strength for a test of 15225/15258 or even higher. Important support is in the 14850/14880 region. Direct fall below 14850 to indicate weakness again. S1: 14970 S2: 14885 R1: 15225 R2: 15305
MCX Silver May: Supports are at 21550/21635 levels. Favored view expects supports to hold for a test of 22395 or even higher.Fall below 21365 could indicate weakness. S1: 21640 S2: 21365 R1: 22225 R2: 22750
MCX Copper April: Supports are at 201 levels now. As long as crucial support at 196 remains undisturbed we expect the bullishness to continue and rally higher towards 217/218 levels.S1: 201 S2: 196 R1: 210 R2: 218
MCX Crude Oil April : Resistance at 2495 or max 2525 could cap for formation of a downturn. Next decline could aim for 2357 or even 2290.Rise above 2510 would hint that we might get the decline. Instead price could start recovering towards 2535 or 2560, further lessening the bearishness.S1: 2450 S2: 2400 R1: 2525 R2: 2560
MCX Zinc April: Supports are now at 66.5 and 65.65.Prices are likely to hold this support levels and move towards 68.0.Direct fall below 65.6 to negate our bullish view.S1: 66.5 S2: 64.9 R1: 67.4 R2: 68.35
CX Nickel April: Prices closed at 502 levels above the resistance level of 498. This indicates prices may move up at 509 or even further at 515 levels.Direct fall below 498 may negate our bullish view.S1: 498 S2: 492 R1: 509 R2: 515

mcx gold trading stratergy:The trend is down but a short-covering is likely to be witnessed.
Ideally, cover short positions at market price and on dips to Rs. 15050 – Rs. 14951 as the opportunity arises.
Sell on fall below Rs. 14937.
As the trend is down, to minimize risk, intra-day traders can wait for a rise above Rs. 15164 and when it falls below Rs. 15164 then sell with whatever high registered above Rs. 15164 as a stop loss. Subsequently, book profits at Rs. 15050 – Rs. 14951 range or below

mcx silver trading stratergy:The trend is down but a short-covering is likely to be witnessed.
Ideally, cover short positions at market price and on dips to Rs. 21749 – Rs. 21356 as the opportunity arises.
Sell on fall below Rs. 21250.
As the trend is down, to minimize risk, intra-day traders can wait for a rise above Rs. 22247 and when it falls below Rs. 22247 then sell with whatever high registered above Rs. 22247 as a stop loss. Subsequently, book profits at Rs. 21749 – Rs. 21356 range or below.

MCX Gold June: As expected prices fell lower in line with our expectations. Resistance will be seen at 15195/15210 levels now. Prices are expected to edge lower towards
14885 or even lower as long as resistances cap.S1: 15010 S2: 14885 R1: 15200 R2: 15305
MCX Silver May: Resistance are at 22135 followed by 22455 now. Favored view expects Resistance to cap for a decline towards 21425 or even lower.Unexpected rise above
22472 to cause doubts on our bearish outlook.S1: 21850 S2: 21550 R1: 22475 R2: 22800
MCX Copper April: Resistance will be seen at 205/206 now. Ideally, this Resistance to cap for a test of 196/197. This is our favored view.Daily close above 210/211 could force
us to abandon our bearish view. Such a rise could take prices higher towards 222 levels.S1:199 S2:196 R1:205 R2:210
MCX Crude Oil April : Resistances are at 2555, 2595 followed by 2705. Break of important trend line at 2525 has dented our bullish expectations.Resistances to cap for a decline
towards 2420. However, prices structures, favor a gradual rise from yesterday's lows towards 2664 for the day as long as 2490 holds.S1: 2476 S2: 2400 R1: 2555 R2: 2600
MCX Nickel April: Support is seen at 483/484 levels. Unable to hold this support can take prices to 474 levels.Upmoves beyond 498 may negate our bearish view.
S1: 483 S2: 479 R1: 492 R2: 498
MCX Zinc April: Strong Prices are likely to move down and find support at 64.9/65.0 levels.Direct rise above 67.4 may negate our bearish view.S1: 66.0 S2: 64.9 R1: 67.4 R2: 68.35


GOLDspot: Last 919
At the end of an intense choppy day, prices still closed below 935, suggesting that the spikes
yesterday was unable to shrug off the bearish bias, which now targets 888 and 861. Such
moves, however are unlikely to gain momentum if 904 holds, but the ability of 924 to hold
upsides gains in the morning session would be crucial in setting a bearish overtone at the
start itself.
Trading Strategies: Sell at 923, Sell below 904. Buy at 888. Sell below 880, Buy at 860. Buy
above 923, Buy above 935. Sell at 939 & 943. Buy above 945, Buy above 951. Sell at 967.
Free moves above 970 towards 1006

Comex Copper. Last 1.80
Bargain hunting expected initially. Can evolve into a
strong rally if 1.82 gives away. Japanese Govt is expected
to announce a new stimulus package. Latest data shows
Japanese unemployment rate rising to a 3 year high


Nymex Crude: 49.2
Even though broad bearish bias still prevails, falls today
are unlikely to materialize unless 48.4 gives away.
Favoured view expects bargained hunting towards 50.2,
but is unlikely to evolve into rallies as long as 51.2-51.7
resists.
The trend is down.
Sell on rise to Rs. 15155 – Rs. 15281 with stop loss of Rs. 15333.
Expect a fall towards Rs 14996 – Rs. 14870.
On sustain fall, prices could touch lower trend-line of channel at 14390 level in coming sessions.
As the trend is down, to minimize risk, intra-day traders can wait for a rise above Rs. 15281 and when it falls below Rs. 15281 then sell with whatever high registered above Rs. 15281 as a stop loss. Subsequently, book profits at Rs. 15155 – Rs. 14996 range or below.
SILVER MCX:The trend has turned down.
Ideally, exit all earlier long positions at market price and on rise to Rs. 22076 – Rs. 22299 or above as the opportunity arises.
Re-enter long only on rise and close above Rs. 22936.
As the trend is down, to minimize risk, intra-day traders can wait for a rise above Rs. 22299 and when it falls below Rs. 22299 then sell with whatever high registered above Rs. 22299 as a stop loss. Subsequently, book profits at Rs. 22076 – Rs. 21801 range or below.
GOLD MCX JUNE:

VIEWS AND TRADING STRATERGIES AS ON 30 TH MARCH

VIEWS ON MCX COMMODITIES:-

MCX Gold June: A bearish trend is in place now. A decline to 14540/14440 seems to be unfolding. Projected objective falls at 13890.Ideally it should stay above this and start a recovery towards 14524. Dip below 14940 is needed to trigger this decline. Stop for this bearish view is kept at 15455, above which it could attempt 15666

MCX Silver May: Important support is in the 21530-21630 zone. A dip below 21640 would most probably pull it down further towards 21195 or even 21010.Below 21010 the selling could intensify, shifting the focus on next support at 19785 S1: 21850 S2: 21550 R1: 22475 R2: 22800

MCX Copper April: Important support is at 200/201 now. Favored view expects a corrective dip to 197/198 levels while below 207/208.Direct rise above 208 to signal bullishness again. S1: 202 S2: 199 R1: 209 R2: 212

MCX Crude Oil April : As anticipated fall below 2675 damaged the bullish picture. However, Indicators suggest that a corrective dip to 2630/2575 region could be followed by next rise towards 2915. It needs to fall below 2545 to cause doubts about this bullish expectation.S1: 2610 S2: 2565 R1: 2720 R2: 2790

INTERNATIONAL SPOT GOLD:-Support will be at 915$.
Sell on fall below 915$ with high of the day stop loss.
On close below 915$ with a negative candle can take the price down towards 900$-882$.
Resistance will be at 930$-937$.
NYMEX LIGHT SWEET CRUDE OIL:-A breakout of a steeper trend line is witnessed.
Resistance will be at 54$-56$.
Traders holding long positions must exit long at current price and on rise towards 56$ as the opportunity arises.
Support will be at 50.50$-48.50$.
Fresh long positions can be undertaken only on close above 56$.
GOLD TRADING STRATERGY:-
The trend is down.
It looks like that an expanding triangle setup is in place now.
A significant fall towards lower trend-line could be witnessed in coming sessions.
A break of Rs. 14965 will be crucial for the major downfall.
Sell on rise to Rs. 15119 – Rs. 15198 with stop loss of Rs. 15333.
Expect a fall towards Rs 14770 – Rs. 14390 in sessions to come.
As the trend is down, to minimize risk, intra-day traders can wait for a rise above Rs. 15198 and when it falls below Rs. 15198 then sell with whatever high registered above Rs. 15198 as a stop loss. Subsequently, book profits at Rs. 15119 – Rs. 15013 range or below.

SILVER TRADING STRATERGY:-
The trend is up but nature of movement is sideways.
Ideally, exit all long positions at market price and on rise to Rs. 22174 – Rs. 22474 or above as the opportunity arises.
Re-enter long only on rise and close above Rs. 22936.
As the trend is up, to minimize risk, intra-day traders can wait for a fall below Rs. 21851 and when it rises above Rs. 21851 then buy with whatever low registered below Rs. 21851 as a stop loss. Subsequently, book profits at Rs. 22174 – Rs. 22474 range or above.

outlook for gold silver crude as on 23-3-2009

COMEX GOLD TECHNICAL OUTLOOK :-Comex Gold (GC)
Gold retreats mildly after hitting as high as 967.80 but after all, intraday bias remains on the upside as long as 929.60 minor support holds. As discussed before, correction from 1007.7 should have completed at 882.7, supported by 38.2% retracement of 681 to 1007.7 at 882.9. Further rise is now expected to retest 1007.7 first and then 1033.9 high. On the downside, below 929.6 will turn intraday outlook neutral. But recent rally is still expected to resume as long as 882.7 low is intact.
In the bigger picture, while the correction is slightly deeper than expected, the over all outlook doesn't change. That is, consolidation from 1033.9 has already completed at 681, in form of an expanding triangle pattern. Long term up trend is tentatively treated as resumed at this point and further rise should be seen to retest 1033.9 high. Break will confirm the bullish case and target 161.8% projection of 681 to 892 from 801.5 at 1142.9 next. On the downside, however, another fall below 882.7 will open up a few short term bearish scenarios that should at least bring deeper for to 801.5 cluster support or below before resuming the long term up trend.
COMEX SILVER TECHNICAL OUTLOOK :Comex Silver (SI)
Silver retreats mildly after hitting as high as 13.74 and at this point, intraday bias remains on the upside as long as 13.00 minor support holds. Break of 13.285 resistance confirms that corrective fall from 14.6 has completed with three waves down to 11.89 already. Further rally should now be seen to retest 14.6 high first. On the downside, below 13.00 will turn intraday bias neutral. But short term outlook will now remain bullish as long as 11.89 low remains intact.
In the bigger picture, whole down trend from 21.44 has completed at 8.4 already. Focus now turns to next resistance at 16, with medium term falling trend line at 15.83 and 61.8% retracement of 21.44 to 8.4 at 16.45. Sustained break will confirm this case and argue that long term up trend is resuming and should target 21.44 high next. On the downside, break of 11.77 support is needed to be the first signal that rise from 8.4 has completed. Otherwise, outlook will remain bullish.

CRUDE OIL TECHNICAL OUTLOOK:-Nymex Crude Oil (CL)
Crude edges further higher to 52.34 today and remains firm. Short term outlook will remain bullish as long as 46.92 and further rally is still expected. As discussed before, sustained trading above 50.47 key resistance will pave the way for strong rally towards next key level of 60, which is close to 23.6% retracement of 147.27 to 33.5 at 60.34. On the downside, though, below 46.92 will indicate that rise from 33.55 has completed and will turn intraday outlook neutral first.
In the bigger picture, the break of 50.47 resistance serves as an important signal that crude oil has finally bottomed out in medium term, on bullish convergence condition in daily MACD, after drawing support from 17.12/33.5 key long term support zone. Sustained trading above 50.47 will confirm this case and open up the prospect of stronger rally towards next key level at 90.51 (50% retracement of 147.27 to 33.5 at 90.38).

NATURAL GAS TECHNICAL OUTLOOK:-Nymex Natural Gas (NG)
The strong rebound in Natural Gas and touching of 4.38 resistance is taken as the first sign that it has bottomed out at 3.672, slightly above mentioned target of 61.8% projection of 6.24 to 4.28 from 4.88 at 3.67. Outlook is turned neutral for the moment. Sustained trading above 4.38 will turn short term outlook bullish for 4.88 resistance next. On the downside, while some pull back might be seen, short term outlook will now be neutral at worst as long as 3.672 low holds.
In the bigger picture, as mentioned above, touching of 4.38 resistance is taken as the first signal that decline from 13.69 has bottomed out at 3.672. Bullish convergence condition in daily MACD is supporting this case too. Further break of 4.88 resistance will confirm this case and bring medium term rebound to cluster resistance at 7.36 (38.2% retracement of 13.69 to 3.67 at 7.499.

VIEWS WITH TRADING STRATEGY FOR 20TH MARCH 2009

MCX Gold April: A potential target at 15460 has been met. A corrective fall towards 15240 or even lower towards 15045/15080 looks likely.As long as 15030 hold the bullish trend is expected to continue. S1: 15260 S2: 15140 R1: 15525 R2: 15660

MCX Silver May: Important near-term support is at 21990 now. While below 22436/22485 expect a corrective fall towards 21910 or even lower.Direct rise above 22436 to indicate bullish strength for a 23225. S1: 22030 S2: 21800 R1: 22450 R2: 22700

MCX Copper April: Crucial support is at 196. While above this level we can expect the rally to continue towards 204/207 levels. This is our favored view.Fall below 196 to lead to a corrective fall. S1: 196 S2: 193 R1: 204 R2: 207

MCX Crude Oil April : As expected we saw 2630/2656 being tested. A consolidation in the 2545 and 2605 zone can be expected followed by a rise towards 2770.This is our favored view. Fall below 2500 to cause doubts on this bullish view. S1: 2610 S2: 2545 R1: 2645 R2: 2770

MCX Zinc March: Dips to 61.7 likely to find support for a move higher towards 63.4 or even higher towards 64.0 levels.Only a move below 61.0 to negate this bullish view.S1: 61.7 S2: 59.85 R1: 62.4 R2: 63.5

MCX Lead March: Until supports at 66.5/66.0 holds prices may move higher towards 69.0 levels.Moves below 65.6 may negate our bullish view.S1: 66.5 S2: 65.2 R1: 67.5 R2: 69.0

MCX Nickel March: Moves below 502 may take prices further down to 493.On the other hand a break above 515 would rekindle some bullish hopes.S1: 502 S2: 497 R1: 512 R2: 519

MCX Natural Gas April ips to 202/203 likely to find support for a move higher towards 214 or even higher towards 219 levels. Only a move below 198 to negate this bullish view.S1: 203 S2: 198 R1: 214 R2: 219

TRADING STRATEGY ::

GOLD MCX APRIL ::

The trend has turned up.
Ideally, cover all earlier short positions at market price and on dips to Rs. 15236 – Rs. 15013 or below as the opportunity arises.
Buy on dips to Rs. 15236 – Rs. 15013 with stop loss of Rs. 14835.
Expect a rise towards Rs. 15638 – Rs. 15861.
As the trend is up, to minimize risk, intra-day traders can wait for a fall below Rs. 15236 and when it rises above Rs. 15236 then buy with whatever low registered below Rs. 15236 as a stop loss. Subsequently, book profits at Rs. 15638 – Rs. 15861 range or above.

SILVER MCX MAY ::

The trend has turned up.
Ideally, cover all earlier short positions at market price and on dips to Rs. 21813 – Rs. 21209 or below as the opportunity arises.
Buy on dips to Rs. 21813 – Rs. 21209 with stop loss of Rs. 20800.
Expect a rise towards Rs. 22827 – Rs. 23431.
As the trend is up, to minimize risk, intra-day traders can wait for a fall below Rs. 21813 and when it rises above Rs. 21813 then buy with whatever low registered below Rs. 21813 as a stop loss. Subsequently, book profits at Rs. 22827 – Rs. 23431 range or above.


INTERNATIONAL SPOT GOLD ::

Resistance is being witnessed at 958$-963$.
A further rise and close above 963$ can take the price up to test the higher range of 975$-1006$.
Support will be at 948$-925$.
Traders can buy on rise above 963$ with low of the day stop loss.
Corrective dip to 948$ or below could be used for buying with a stop loss of 925$.
A fall and close below 925$ can take the price for gold back down to 882$ or below.

INTERNATIONAL SPOT SILVER ::

Resistance is being witnessed at 13.69$.
On further rise and close above 13.69$ with a positive candle can take the price up to test the higher range of 14.09$-14.63$.
Support will be at 13.30$-13.02$-12.63$. Corrective dip to support could be used for buying.
Overall Stop loss for long positions can be 12.63$.
A close below 12.63$ can take the price down to test 11.89$. It could even move down to fall further.
Therefore the support of 12.63$ will be important from here on.


COPPER MCX APRIL ::
Looks to be on the verge of break out. But, a pull back andaccumulation at 195 would deem healthy for the trend, as priceshave already met the rising trendline in comex as well as lmecharts. A direct rise above 202 would dispel all such doubtscalling for 215.
Nymex Crude:
Expect pull back initially. To take support at50.9/66 for a pull towards 53. This is ourfavoured view. Falls below 50.5 to signal thatdownswing is maturing

ENJOY TRADING !!!!


MUNNABHAI ANALYST
CELL :- +91-9820555212

INTERNATIONAL SPOT GOLD:A recovery was seen yesterday after testing the retracement level of 882$.
Expect a volatile movement within the price band of 950$-882$ for some time being taking any further decisive movement henceforth.
Traders can go long on rise and close above 950$.
Corrective dip to support of 915$-882$ could be used to exit short positions as the opportunity arises.
The situation will arise in next few days to avoid trading as the volatility within the band could be witnessed.
Yesterday rise towards the closing was abnormal therefore the rise could get erased first to an extent before taking any decisive move again.

INTERNATIONAL SPOT SILVER;We were expect the level of 12.40$ to get tested.
Yesterday, we saw an abnormal movement on the downside and equally strong recovery to bring back the situation where it was before the fall.
The 61.8% retracement on the chart was tested which was placed at 11.97$ and the low registered was 11.89$ to close at 12.9$.
Only a rise and close above 13.02$ can take the price up.
Cover short positions on dip to 12.40$-11.97$ range as the opportunity arises

MXC GOLD EXPECTATION:Gold has taken support on the channel line as shown in the chart.
It has also covered the gap which was in the range of 14895-14729.
The low registered yesterday was 14640 and closed at 14795.
The international spot gold price after the MCX exchange closed yesterday night moved up sharply. On the back of the movement on international spot gold movement, we could find price opening higher with a gap. We could see price opening approximately at the L3 or above which is at 15075.
The high registered yesterday on MCX GOLD APRIL was at 15138. The early morning trades could see price movement in the range of 15075-15138.
The falling trend line is placed at 15238.
Traders who are still holding short positions could be in trouble as the opening will be with a gap.
Cover short positions at 14858 or below as the opportunity arises. Fresh downside movement and momentum could only be witnessed on fall and close below 14640.
The bias now could turn up or could move sideways after opening with a gap. Intra-day volatility with be very high.

MCX SILVER EXPECTATION:
A channel breakdown was seen yesterday with volume.
The price range of yesterday that is high and low will be important.
The high and low registered yesterday was 21635 and 20435.
The volume registered were highest of the contract. A close above yesterday high of 21635 could mark a reversal. A falling trend line breakout will confirm a reversal. The trend line value is placed at 22059.
Expect a gap up positive opening in comparison to yesterday close. In the early morning trades, we could find Silver testing L3 which is at 21376. The trend on MCX Silver is still down.
Wait for a rise above 21376 and when it falls below 21376 then sell with high above 21376 as the stop loss.
A close above yesterday high of 21635 and a breakout above the trend line will take the Silver price back up to test the peak range of 22800-23885.
Similarly, any sustained fall below yesterday low and a close below it can take the prices crashing down to 18000 price level.
Therefore, next couple of trading days will play an important role as to decide the further course of price action. As significant change of price action could be seEN

VIEWS WITH TRADING STRATEGY FOR 18TH MARCH 2009

VIEWS ::

MCX Gold April: Resistances are at 15186 followed by 15252 levels now. Direct rise above 15285 to indicate bullish strength.But, big picture weakness persists and therefore favor a fall below 14955. S1: 15050 S2: 14950 R1: 15200 R2: 15270

MCX Silver May: Resistances are at 21823 followed by 22000/22030 levels now. Favored view expects a drop towards 19368 or even lower as long as resistances cap the upside. Only a rise above 22370/22455 to cause doubts on our bearish view. S1: 21400 S2: 21250 R1: 21800 R2: 22150

MCX Copper April: Strong supports are at 192.2/ 193.4 for the present uptrend to sustain and continue higher.Crucial support is at 191.2 and a break below this level could decrease the bullishness.S1: 192 S2: 187 R1: 198 R2: 202

MCX Crude Oil April : Supports are at 2518 followed by 2490. While above 2530, prices should aim for the recent highs at 2630 or even higher.Unexpected fall below 2432 will force us to abandon our bullish view. S1: 2535 S2: 2485 R1: 2630 R2: 2670

MCX Zinc March: Dips are expected to find support at 61.75 levels for a move higher towards 63.65 64.0 .A fall below 61.30 to negate this bullish view. S1: 61.75 S2: 61.0 R1: 63.0 R2: 64.1

MCX Lead March: Supports at 67.35 66.85 likely to hold dips for a move higher towards 70.65 71.0 levels.Only a fall below 65.75 to negate this bullish view. S1: 68.00.1 S2: 67.00 R1: 69.6 R2: 70.2

MCX Nickel March: Dips to 500 : 503 likely to find support for a move higher towards 540 levels.Only a move below 487 to cause doubts about this bullish view. S1: 515 S2: 510 R1: 525 R2: 534


TRADING STRATEGY ::

GOLD MCX APRIL ::

The trend is down.
Sell on rise to Rs.. 15166 – Rs. 15223 with stop loss of Rs. 15260.
Expect a fall towards Rs. 15072 – Rs. 15015.
Support will be at Rs. 14910 – Rs. 14850.
Expect a big fall if close below 14850.
As the trend is down, to minimize risk, intra-day traders can wait for a rise above Rs. 15223 and when it falls below Rs. 15223 then sell with whatever high registered above Rs. 15223 as a stop loss. Subsequently, book profits at Rs. 15166 – Rs. 15072 range or below.

SILVER MCX MAY ::

The trend is down.
Sell at market price and on rise to Rs. 21764 – Rs. 21931 with stop loss of Rs. 22060..
Expect a fall towards Rs. 21469 – Rs. 21302.
On sustain fall, lower levels of Rs. 20620 – Rs. 19250 could be witnessed in coming sessions.
As the trend is down, to minimize risk, intra-day traders can wait for a rise above Rs. 21931 and when it falls below Rs. 21931 then sell with whatever high registered above Rs. 21931 as a stop loss. Subsequently, book profits at Rs. 21764 – Rs. 21469 range or below.

INTERNATIONAL SPOT SILVER ::

Support will be at 12.50$-12.40$.
Yesterday low was at 12.63$. A fall below 12.63$ will take the price down in the range of 12.50$-12.40$.
Resistance will be at 12.78$-12.88$-12.99$.

INTERNATIONAL SPOT GOLD ::
The price movement is getting narrower.
Support will be at 904$ and 896$.
Resistance will be at 919$-924$ and 930$..

ENJOY TRADING !!!!

MUNNABHAI ANALYST, M. M. A. S.
CELL :- +91-9820555212

VIEWS WITH TRADING STRATGEY FOR 17TH MARCH 2009

VIEWS ::

MCX Gold April: As long as 15324/15357 resists, expect a move lower towards 14945 followed by 14830.However, break above 15406 will negate this bearish view.S1: 15165 S2: 14950 R1: 15300 R2: 15400

MCX Silver May: As long as 22068/22153 resists expect a move lower towards 21338 followed by 21152.However, break above 22442 will negate this bearish view S1: 21700 S2: 21450 R1: 22200 R2: 22550

MCX Copper April: Dips to 190.6/191.8 to find support for a rally to 202 followed by 206.5 .Break below 188.4 to negate this bullish view.S1: 193 S2: 187 R1: 201 R2: 205

MCX Crude Oil April : Dips to 2384/2368 to find support for a rally to 2540 followed by 2603.Break below 2296 to negate this bullish view.S1: 2425 S2: 2385 R1: 2485 R2: 2520

MCX Zinc March: Up moves may take prices to 64.5 levels. Supports are at 62.7 levels.Close below this level may negate our bullish view.S1: 62.7 S2: 61.6 R1: 64.5 R2: 65.5

MCX Lead March: Until support at 66.1 holds prices may move up to 67.6 levels or even higher.Fall below 65.3 may negate our bullish view.S1: 66.1 S2: 65.3 R1: 67.6 R2: 68.2

MCX Nickel March: Up moves may find resistance at 534.0 until support of 518 holds.Moves below 510 may negate our bullish view.S1: 515 S2: 510 R1: 525 R2: 534

MCX Natural Gas March : -.Prices may move down and find support at 197/198 levels. Moves beyond 201/203 to negate our bearish view.S1: 197 S2: 194 R1: 202 R2: 205

TRADING STRATEGY ::

GOLD MCX APRIL ::

The trend has turned down.
Sell on rise to Rs. 14227 – Rs. 15342 with stop loss of Rs. 15475.
Expect a fall towards Rs. 15104 – Rs. 14989.
As the trend is down, to minimize risk, intra-day traders can wait for a rise above Rs. 15342 and when it falls below Rs. 15342 then sell with whatever high registered above Rs. 15342 as a stop loss. Subsequently, book profits at Rs. 15227 – Rs. 15104 range or below.

SILVER MCX MAY ::

The trend has turned down.
Sell on rise to Rs. 21974 – Rs. 22208 with stop loss of Rs. 22446.
Expect a fall towards Rs. 21665 – Rs. 21431.
As the trend is down, to minimize risk, intra-day traders can wait for a rise above Rs. 22208 and when it falls below Rs. 22208 then sell with whatever high registered above Rs. 22208 as a stop loss. Subsequently, book profits at Rs. 21974 – Rs. 21665 range or below.

INTERNATIOANL SPOT SILVER ::

Expect further selling pressure on fall and close below 12.78$.
Generally, look for rise to exit long positions.
Resistance will be at 13.16$-13.30$.
A pullback rise could be witnessed on rise and close above 13.30$.
A sideways movement could be witnessed generally.

INTERNATIONAL SPOT GOLD ::

Sideways movement is being witnessed.
Support is at 919$-915$.
Expect selling pressure on fall and close below 915$.
Resistance is at 929$-939$.
In case of close above 940$ then expect spike in prices before further fall at a later date.

MUNNABHAI ANALYST, M. M. A. S.

VIEWS WITH TRADING STRATEGY FOR 16TH MARCH 2009

MCX Gold April: Test of 15600 – 15650 seems within reach as long as 15155 holds . Fall below 15155 would cause doubts about this bullish view. Such a dip could drag
the price a little lower towards 14957 before showing an upturn for the expected rally. The favored view is that there is a chance to touch 15651 while we stay above 15155.
S1: 15190 S2: 14990 R1: 15400 R2: 15600

MCX Silver May: Structure shows bullishness for a rise towards minimum 22590 or ideally towards 23060. Fall below 21730 would most probably change this outlook.
If this view fails that would be first indicated by drop below 21730 followed by a breach of 21020. Favored view expects 21730 to hold for next rise.S1: 21930 S2: 21530 R1: 22300 R2: 22650

MCX Copper April: As long as 182/184 holds support, expect a move towards 202 followed by 210.Break below 182 to negate this bullish view.S1: 184 S2: 179 R1: 192 R2: 195

MCX Crude Oil April : A dip to supports is anticipated first towards 2235, 2210 or maximum 2195. Ideally next rally towards levels above 2625 should begin after this decline.
Fall below 2195 would hint at further weakness towards 2152 or 2080.Do not buy without a confirmed upturn. Unexpected rise above 2528 would change this view.
S1: 2375 S2: 2325 R1: 2450 R2: 2500

MCX Zinc March: As long as 62.2 holds support, expect a move towards 63.0 followed by 63.4 where it can find resistance.Break below 62.0 to negate this bullish view.
S1: 62.0 S2: 61.0 R1: 63.0 R2: 63.5

MCX Nickel March: As long as 492 holds support, expect a move towards 501 where it can find resistance. Break below 492 to negate this bullish view and can drag prices to 481 levels.S1: 492 S2: 481 R1: 501 R2: 510

MCX Natural Gas March : -.Prices may move down and find support at 200/201 levels. Moves beyond 207/208 to negate our bearish view.S1: 201 S2: 197 R1: 204.8 R2: 208

TRADING STARTEGY ::
MCX GOLD APRIL ::

The trend is up but a breakout is needed for a rally.
Traders already long can look to book profits at higher levels to Rs. 15344 – Rs. 15478 or above as the opportunity arises or revise stop loss to Rs. 15210 vice versa.
Buy on breakout and close above Rs. 15660.
As the trend is up, to minimize risk, intra-day traders can wait for a fall below Rs. 15213 and when it rises above Rs. 15213 then buy with whatever low registered below Rs. 15213 as a stop loss. Subsequently, book profits at Rs. 15344 – Rs. 15478 range or above.

SILVER MCX MAY ::

The trend has turned up.
Ideally, cover all earlier short positions at market price and on dips to Rs. 22271 – Rs. 22095 as the opportunity arises.
Sell only on fall and close below Rs. 21730.
Buy only on breakout and close above Rs. 22850.
As the trend is up, to minimize risk, intra-day traders can wait for a fall below Rs. 22095 and when it rises above Rs. 22095 then buy with whatever low registered below Rs. 22095 as a stop loss. Subsequently, book profits at Rs. 22271 – Rs. 22502 range or above.

INTERNATIONAL SPOT GOLD ::

Resistance will be at 936$-945$.
Support is at 919$, 905$ and 896$.
A rise and close above 936$ can continue its pullback towards 975$.
Traders who are long by chance now can look for rise to 936$-945$ to book profits and re-enter long on close above 946$. Traders who area short need to maintain short positions with a stop loss 946$ and look for dip to support to cover short.
Further major crash can be witnessed only on fall and close below 895$.

INTERNATIONAL SPOT SILVER ::

A pull back to test the retracement level of 13.50$-13.77$ could be attempted.
Support of 12.88$ hold the key.
A fall and close below 12.88$ can take Silver down to test back 12.40$.
Traders need to maintain a stop loss of 12.88$ if holding long positons.

ENJOY TRADING !!!!

MUNNABHAI ANALYST, M. M. A. S.