VIEWS FOR 1st OCTOBER, 2008

MCX Gold (December): Expect prices to find resistance towards 13600/13660 for a possible fall lower towards 12872/12841, however direct break above 13842 would negate this bearish view.S1: 13220 S2: 13175 R1:13335 R2:13378

MCX Silver December: Expect corrective rallies to find resistance at 20722/20805 for a move lower towards 19480 followed by 19231; break above 21720 would negate this bearish view.S1: 19950 S2:19800 R1:20250 R2: 20425

MCX Copper November :- As long as prices stay above 296.4 it could go towards 312/316 levels, which are strong resistance levels, direct break below 296.7 could see prices testing 291 followed by 288. S1: 299.9 S2: 296.4 R1: 305.0 R2: 308.5

MCX Crude Oil October: Push above 4859 would be a bullish sign and could lead the price towards 4904/4928. Supports are near 4762 & 4740. Fall below 4707 is needed to lessen the scope for this rally. Such a fall could open the way for test of supports near 4622 initially. Favoured view expects a rise while above 4702.S1: 4694 S2:4645 R1:4795 R2:4845

MCX Zinc Oct: As long as 81.4-82.5 levels resist, expect prices to move lower towards 77.5 or even 75.0 levels . However a rise above 83.50 would negate this bearish view.S1: 78.8 S2: 77.6 R1:80.8 R2: 81.7

MCX Lead Oct: As long as 88.5-89.5 levels resist , expect prices to fall towards 81.0 levels or even lower towards 79.0 levels.However a rise above 90.80 would negate this bearish view.S1: 86.2 S2: 85.3 R1: 88.35 R2: 89.5

MCX Nickel Oct: Corrective Rallies are expected to find resistance in the 778-785 region for a move lower towards 730 or even 715 levels. A rise above 792 would negate this bearish view.S1: 730 S2: 718 R1: 753 R2: 768

MCX Natural Gas Oct: Expect up moves to find resistance in the 365-370 region for a move lower towards 340 levels . A rise above 376 would negate this bearish view.S1: 345 S:335 R1:363 R2: 372

VIEWS FOR 30th SEPTEMBER

MCX Gold (October): In line with our expectations. Dips to 13530/13485 to support for a break of 13940 and a possible test of 14550/14580 now. Fall below 13304 could dampen the bullish expectation.S1: 13400 S2:13350 R1:13500 R2: 13555

MCX Silver December: As expected a break below 20800 sent silver futures falling lower. Important resistance is at 21600/21650 and move above this level could induce bullish hopes for a 24090.S1: 20790 S2: 20595 R1: 21060 R2: 21200

MCX Copper November: As expected, we saw a huge fall in copper coming to our target levels at 297.20. Indicators warn of a pullback but possibilities of a further fall towards 279 looks likely. Any pullbacks could find strong resistance at 310/313 levels now.S1: 299 S2: 296 R1: 307 R2: 311.50

MCX Crude Oil October: While above 4498 a corrective rise towards 4600or 4650 is anticipated. Ideally the correction should end without crossing above 4700. Next decline could target levels like 4330/4252. Rise past 4700 could suggest that a stronger bullish reaction is evolving.S1: 4580 S2: 4530 R1: 4680 R2: 4725

MCX Zinc Oct: As long as 80.9-81.5 levels resist, expect prices to move lower towards 77.5 levels or even lower. However a rise above 83.30 would negate this bearish view. S1: 78.4 S2: 77.00 R1:81.50 R2: 83.10

MCX Lead Oct: As long as 87.5.5-88.5 levels resist , expect prices to fall towards 82.60 levels or even lower. However a rise above 90.80 would negate this bearish view.S1: 84.10 S2: 82.90 R1: 87.10 R2: 88.50

MCX Nickel Oct: Rallies to 790/794 could cap the upside for a fall towards 750 followed by 745 levels.It needs to rise above 804 to give up this bearish expectation.S1: 771 S2: 761 R1: 790 R2: 800

MCX Natural Gas Oct: Rallies to 350/352 could cap the upside for a fall towards 332/333 followed by 330 levels. It needs to rise above 356 to give up this bearish expectation.S1: 340 S2:336 R1:348 R2: 353

VIEWS FOR 26.09.2008

MCX SILVER :: Support is crucial at 20295 now. Favored view expects the 20185/20295 to hold for atest of 23380 in the coming sessions. Fall below 19950 to change the picture to bearish. Support: 20505, (20238 bearish), 20008, 19812. Resistance: 20860, 21060, (21385 bullish), 21546.

MCX CRUDE:: Favoured view expects a rise towards 5142 or more probably 5190. Supports are at 4890 & 4860. Break above channel resistance at 5018 should encourage bullish expectation. Bullish view would weaken if price drops below 4758. Support: 4889, (4850 bearish), 4801, 4752. Resistance: 4970, (5026 bullish), 5087, 5127.

MCX GOLD :: As expected in a consolidation mode. 12725-13445 is the broad range now. Only a fall below 12700 could turn the picture bearish. Favored view expects a rally towards 4195levels as long as 12700/12725 holds. Support: 12874, (12836 bearish), 12785, and 12725 Resistance: 12942, 12990, (13038 bullish), 13084.

MCX COPPER :: Resistances will be seen at 321 followed by 324. Direct rise above 326.50 could induce bullish hopes again for a test of 339 levels. However, favored view expects a fall towards 291 levels as long as 324/326.50 caps upside attempts. Support: 315, (312 bearish), 310.25, 308. Resistance: 318.70, 321, (323 bullish), 326.

VIEWS FOR 17.09.2008

MCX CRUDE :: Prices could attempt 4463 / 4473. It has to push above 4480 to stay bullish for
further advance towards 4517 or even 4555. Supports are at 4380 & 4330. Fall below 4320 is
needed to revive scope for further declines. Short-term view is bullish. The big picture is bearish
for a fall towards minimum 4102 and this rally would be treated as a corrective rally. Rise above
4592 could cause doubts about the bearish view.
Support: 4250, (4208 bearish), 4180, 4136.
Resistance: 4317, (4360 bullish), 4404, 4440.

MCX GOLD :: As long as 11871 / 11900 resist expect a move lower towards 11485 followed by
11405, however break above 11905 could see 11975 followed by 12020 levels.
Support: 11704, (11675 bearish), 11635, and 11585.
Resistance: 11790, 11828, (11865 bullish), 11907.

MCX SILVER :: As long as 18505 / 18585 resist expect a fall lower towards 17110 followed by 16605, however break above 18870 would negate this bearish view.
Support: 17790, (17660 bearish), 17450, 17210.
Resistance: 17999, 18160, (18375 bullish), 18605.

MCX COPPER :: Expect any corrective rallies to find resistance in the region of 324.70 / 326.80
for a lower towards 308.40 followed by 303 levels, however break above 331 would turn the
picture bullish.
Support: 314.50, (311.85 bearish), 309.95, 307.70.
Resistance: 319.65, 322, (324.80 bullish), 326.70.

VIEW FOR 16.09.2008

MCX Gold (October): Should consolidate in the range between 11460 and 11710 levels and rise higher towards 11780 or even higher towards 12004. This is the favored expectation. Fall below 11337 could dent our bullish expectations.S1: 11617 S2:11578 R1:11701 R2: 11748

MCX Silver December: Extremely volatile and showing bearish signs now. View unclear and suggest to be on the sidelines. Possible range is 17420 and 18600. S1: 18125, S2: 17890, R1: 18375, R2: 18605

MCX Crude Oil October: Projected downside targets are at 4260 & 4180. A bullish reaction towards 4320 / 4330 is favoured from the downside target area If it does not occur at 4260 or maximum 4180 and price keeps falling below 4160 then it would go for 4045. Resistance levels are at 4300 & 4320. Rise above 4330 is needed to indicate some corrective action.

MCX Copper November: Bearish now. Move below 308 could trigger a sell-off towards 285 levels now. Resistance is at 319.75 / 321 levels now. S1: 315 S2: 312 R1: 319.75 R2: 322

MCX Zinc Sept: AS long as 82.5-84.0 levels resist , expect prices to fall towards 79.5-78.0 levels. However a rise above 84.7 would cast doubts on this bearish view. S1: 80.2 S2: 79.0 R1: 82.5 R2: 84.0

MCX Lead Sept: AS long as 86.5-88.0 levels resist , expect prices to fall towards 83.5-81.0 levels. However rise above 88.5 would cast doubts on this bearish view. S1: 84.0 S2: 82.7 R1: 86.7 R2: 88.0

MCX Nickel Sept: Prices expected to find strong resistance in the 860-872 zone to move lower towards the 830 region.However a direct rise above 876 would cast doubts on this bearish view.S1: 832 S2: 820 R1: 858 R2: 870

MCX Natural Gas Sept: As long as 335-342 levels hold support, expect prices to move higher towards resistance levels which lie in the 365 region. A fall below 333 would negate this bullish view.S1: 337 S:326 R1:361 R2: 368

VIEW FOR THE WEEK FROM 15.09.2008 TO 21.09.2008

MCX Silver futures prices closed higher on Saturday. Support
will be seen at 17999, a break below could see a test of
17752. Resistance is now likely to be seen at 18342 a move
above could see prices testing 18605.
Trading Call :- Structure is bearish for a test of fractal support at 19228.rise above 20050 to hint at stronger recovery towards 20662/20725.Rise above 20804 could indicate a bullish reversal.
Support: 19360, (19200 bearish), 19060, 18900.
Resistance: 19660, 19810, (19960 bullish), 20100.

MCX Crude-oil futures closed higher on Saturday. Support
will be seen at 4580, a break below could see a test of
4542. Resistance is now likely 4645, a break above that
could test 4690 levels.
Trading Call: Dips could be held above 4518 or maximum 4493 for a test of 4575 levels again.
This looks like the more probable scenario. It needs to rise past 4610 to hint at a stronger
correction. Fall below 4480 would be a bearish sign hinting at further decline towards 4407 or
4344.
Support: 4580, (4542 bearish), 4500, 4450.
Resistance: 4645, (4690 bullish), 4725, 4762.

MCX Gold prices closed higher on Saturday. Support will be
seen at 11400, a break below could see a test of 11365.
Resistance is now likely to be seen at 11465, a move above
could see prices testing 11508 levels.
Trading Call: As expected, a strong pullback is in place. Can edge higher towards 11785-11815
levels now or even higher towards 11889 levels. Positive divergences also gives rise for a possible
test of 12409. Supports are at 11400 levels.
Support: 11400, (11365 bearish), 11324, and 11287
Resistance: 11465, 11508, (11542 bullish), 11593.

MCX Copper futures closed higher on Saturday. Immediate support
will be seen at 320, a break below could see a test of 317.5
levels. Resistance is now likely to be seen at 324.70 a move
above could see prices testing 326.50.
Trading Call: - Consolidation in the 317-325 range to be followed by a rise higher towards 333
or even higher towards 343 levels.
Support: 320, (317.50 bearish), 314.60, 312.00.
Resistance: 324.70, 326.50, (328.60 bullish), 331.20.