VIEWS FOR 12th NOVEMBER 2008

MCX Gold: As expected support at 11495 being the downside trading range held so far. Strong resistance will be seen at 11820 now.No clear direction till we see a break on either side.S1: 11560 S2:11480 R1: 11690 R2: 11740

MCX Silver December: Resistance is at 17017 followed by 17362 now. Rallies to 17185 can be sold s/l 17710 t/p 16066.S1:16500 S2:16350 R1:16950 R2:17200

MCX Crude Oil November: Supports are near 2856 $ 2793. While below 2898/2907 region price could dip first towards supports and then rise as a corrective sequence towards levels like 2966 or even 3030.

MCX Copper November: - Mild support at recent lows at 180.0 was seen. Resistance will be seen at 190.0 followed by 194.0.Only a direct rise above 196 could re-enforce bullish expectations.S1: 177 S2: 173 R1: 188 R2:192

VIEWS FOR 11th NOVEMBER 2008

MCX Gold (December): Back in its volatile range again. Near-term support at 11610 followed by 11328 now. Favoured view still expects a break of 11998 as long as 11142/11172.S1: 11450 S2:11388 R1: 11615 R2: 11700

MCX Silver December: Supports are at 16751 followed by 16383 now. Break below 16380 could drag prices lower towards 15281/15370 levels. S1:16700 S2:16450 R1:17250 R2:17600

MCX Crude Oil November: Dips could be held near 2881/2895 or max 2840 for a rise towards 3035 or higher like 3077.Risk is set below 2833. Next support at 2800 $ 2761.S1: 2845 S2: 2800 R1: 2915 R2:2985

MCX Copper November: - Choppiness continues in the base metal complex. Near-term support is at 180/181 now. Unexpected fall below this level could once again bring our target at 145 in focus.S1: 182 S2: 178 R1: 193 R2:199

MCX Zinc Nov :- A break of the broad range 52.0-56.5 will decide the next directive move. Favored view expects a fall. S1: 51.55 S2: 50.00 R1: 54.00 R2: 55.15

MCX Lead Nov :- Expect up ticks to find resistance at 69.5 levels for a fall towards support levels at 64.0 levels .A direct rise above 69.5 would be a bullish sign S1: 64.20: 63.00 R1: 66.35 R2: 67.70

MCX Nickel Nov: A break of the broad range 578 , 525 would decide the next directive move. Favored view expect up ticks to find resistance at 565-578 levels. S1: 535 S2: 525 R1:565 R2: 585

MCX Natural Gas Nov: Expect up ticks to find resistance at 345-350 zones to fall lower towards 335-327 levels . Only a rise above 352 would be considered bullish.S1: 335 S2: 327 R1: 342 R2: 349

VIEWS FOR THE WEEK FROM 10th NOVEMBER

MCX Gold (December) : Chart is bullish for a rise towards 11970/12090. Now a corrective retracement is possible. Supports are at near 11743/11728.It has to fall below 11633 to give up this bullish view.
S1:11450 S2:11388 R1:11615 R2:11700.

MCX Silver (December) : Rise above 17400 is seen as a bullish sign which could lead prices back towards 18120 or even higher. Important support is at 16900 followed by 16630.
S1:16700 S2:16450 R1:17250 R2:17600

MCX Crude Oil (Nov) : Price could rise towards 3145/3170 areas. Short-term exhaustion noticed now hints at the possibility of a drift to supports near 3072/3048. It has to fall below 3035 to cause doubts about this bullish view. S1:2980 S2:2955 R1:3055 R2:3120.

VIEWS FOR 07th NOVEMBER 2008

MCX Gold (December): Looks more like a consolidation in play between 11224-12000 levels. Price structures are not comfortable for a bullish move Fall below 11224 to drag prices lower towards 10670 or even lower.S1: 11400 S2:11320 R1: 11565 R2: 11630

MCX Silver December: Break above 17450 turned out to be a false one. Fall below 16750 could now accelerate the fall 16536. However, positive indicators increase hopes for a rise provided supports at 16363/16531 holds.S1:16700 S2:16450 R1:17250 R2:17600

MCX Crude Oil November: A rally to 3010/3033 or maximum 3063 could precede further decline towards 2852/2828 regions. Direct rise above 3083 is needed to cause doubts about this view as such a move could see it strengthening further towards 3118/3143. S1: 2900 S2: 2845 R1:3000 R2:3065

MCX Copper November: - Fall below 193.4 to trigger bearishness towards 146 levels. However, if support is noticed here and a subsequent close above 213 to lead prices higher towards 255. Favored view expects a fall.S1: 182 S2: 178 R1: 190 R2:195

MCX Zinc Nov :- 55.25-56.25 are important resistances now . As long as prices are below these levels , prices may touch 50.0 levels. Only a rise above 56.50 would negate this bearish view. S1: 52.55 S2: 51.00 R1: 55.00 R2: 56.55

MCX Lead Nov: Important resistances at 73.80-75.40 levels , while below these levels prices could test 66.50 levels .Only a rise above 76.0 would negate this bearish view.S1: 70.0 S2: 68.80 R1: 71.35 R2: 72.70

MCX Nickel Nov: A break below 550 levels could take prices towards 515-520 levels as long as prices stay below 610-620 levels.A rise above 620 would cause doubts about this bearish view. S1: 544 S2: 521 R1:595 R2: 618

MCX Natural Gas Nov: Moved as expected. Important resistance now at 341 and further at 349 , as long as prices stay below these levels 323-318 levels could be tested. Only a rise above 351 to negate this bearish view now.S1: 328 S2: 321 R1: 341 R2: 350

VIEWS FOR 07th NOVEMBER 2008

MCX Gold (December): Looks more like a consolidation in play between 11224-12000 levels. Price structures are not comfortable for a bullish move Fall below 11224 to drag prices lower towards 10670 or even lower.S1: 11400 S2:11320 R1: 11565 R2: 11630

MCX Silver December: Break above 17450 turned out to be a false one. Fall below 16750 could now accelerate the fall 16536. However, positive indicators increase hopes for a rise provided supports at 16363/16531 holds.S1:16700 S2:16450 R1:17250 R2:17600

MCX Crude Oil November: A rally to 3010/3033 or maximum 3063 could precede further decline towards 2852/2828 regions. Direct rise above 3083 is needed to cause doubts about this view as such a move could see it strengthening further towards 3118/3143. S1: 2900 S2: 2845 R1:3000 R2:3065

MCX Copper November: - Fall below 193.4 to trigger bearishness towards 146 levels. However, if support is noticed here and a subsequent close above 213 to lead prices higher towards 255. Favored view expects a fall.S1: 182 S2: 178 R1: 190 R2:195

MCX Zinc Nov :- 55.25-56.25 are important resistances now . As long as prices are below these levels , prices may touch 50.0 levels. Only a rise above 56.50 would negate this bearish view. S1: 52.55 S2: 51.00 R1: 55.00 R2: 56.55

MCX Lead Nov: Important resistances at 73.80-75.40 levels , while below these levels prices could test 66.50 levels .Only a rise above 76.0 would negate this bearish view.S1: 70.0 S2: 68.80 R1: 71.35 R2: 72.70

MCX Nickel Nov: A break below 550 levels could take prices towards 515-520 levels as long as prices stay below 610-620 levels.A rise above 620 would cause doubts about this bearish view. S1: 544 S2: 521 R1:595 R2: 618

MCX Natural Gas Nov: Moved as expected. Important resistance now at 341 and further at 349 , as long as prices stay below these levels 323-318 levels could be tested. Only a rise above 351 to negate this bearish view now.S1: 328 S2: 321 R1: 341 R2: 350

VIEWS FOR 4th NOVEMBER 2008

MCX Gold (December): As long as 11794/11825 caps the upside expect prices to fall lower towards 11284 followed by 11076, break above 11857 would negate this bearish view.
S1: 11550 S2:11485 R1: 11700 R2: 11775.

MCX Silver December: Expect prices to find support at 16224/16139 for a move higher towards 17328 followed by 18008, break below 15595 would negate this bullish view.S1:16500 S2:16210 R1:17100 R2:17400

MCX Crude Oil November: Resistance near 3170 or maximum 3213 could cap advances for next decline towards 3048/3023.It needs to rise above 3245 to change this bearish view.
S1: 3100 S2: 3045 R1:3200 R2:3270

MCX Copper November: - As long as 195.5 holds support expect a move higher towards 220/227, break below 193 would negate this bullish view.S1: 198 2: 193 R1: 208 R2:214

MCX Zinc Nov :- Important support at 55.5 levels , as long as this level holds support , prices could move higher towards resistance levels at 58.75 .A rise above 58.80 is needed for a higher move. A fall below 54.8 would be bearish. S1: 56.45 S2: 55.15 R1: 58.95 R2: 60.15

MCX Lead Nov: Expect supports at 71.3 levels to hold support for prices to move higher towards resistance at 76.0-77.0 levels .Fall below 70.0 would be considered bearish.S1: 71.35 S2: 70.0 R1: 73.85 R2: 75.0

MCX Nickel Nov: Expect 575 levels to support prices for a move higher towards 615 levels. A fall below 570 would cast a doubt on this bullish view and would take prices lower.S1: 560 S2: 545 R1: 598 R2: 625

MCX Natural Gas Nov: Expect 318-312 levels to support prices for a move higher towards 330-345 range.Only a fall below 310 would be considered bearish now.S1: 315 S2: 308 R1: 333 R2: 342

VIEWS FOR THE WEEK FROM 3rd NOV

MCX Gold (December): Bearish momentum suggests that price could fall towards minimum 11388. This decline has a potential to stretch to the ideal target band at 10970/10896 or as an extreme case to even 10574. Up ticks if any could be capped at 11735 or maximum 11831. This bearish view would become doubtful if price manages to rise past 11847.S1: 11630 S2:11550 R1: 11885 R2: 11955

MCX Silver December: Favoring a corrective rise. The chart looks bullish for a rise towards 17520/17740 or 18970/19300. Corrective dips of any could be held near 16335/16425. It has to fall below 15770 to change this bullish outlook.S1:16500 S2:16210 R1:17100 R2:17400

MCX Crude Oil November: Chart looks bullish for 3500/3520. Corrective dips could be held at 3370 or maximum 3330. Stop below 3295 the outlook would not be clear.S1: 3345 S2: 3295 R1:3468 R2:3515

MCX Copper November: - A corrective rise towards 232 or even 249 is expected. Initial resistance is at 215, Supports are around 204 $ 200 It needs to fall below 192 to turn the view bearish. As of now upside is favored.S1: 206 S2: 200 R1: 218 R2:225

MCX Lead Nov: Expect dips to find support at 71.0 72.0 levels for a move higher towards 77.65 or even 79.0 levels .Fall below 69.5 would cause doubts about this view.S1: 73.35 S2: 72.0 R1: 76.35 R2: 77.85

MCX Zinc Nov :- As long as 56.5 levels hold support , expect prices to move up higher towards 61.0 or even 63.0 levels .Fall below 54.80 would cause doubts about this bullish view. S1: 56.45 S2: 55.15 R1: 58.95 R2: 60.15

MCX Natural Gas Nov: Expect 324-318 levels to support prices for a move higher towards 340-356 range.Only a fall below 314 would be considered bearish now.S1: 323 S2: 315 R1: 342 R2: 350

MCX Nickel Nov: Expect prices to find support at 595 605 levels for a move higher towards 644 or even 675 levels.Only a fall below 565 would cast a doubt on this bullish view.S1: 600 S2: 575 R1: 651 R2: 674

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VIEWS FOR 24TH OCTOBER 2008

MCX Crude Oil November: Favoured view expects corrective rallies to be capped near 3567/3603 for a fall towards 3284/3248. Unexpected rise past 3628 S1: 3400 S2: 3345 R1:3535 R2:3600

MCX Natural Gas Nov: Moved as expected . Resistances now at 342-347 levels now. As long as these levels resist prices could slide down further towards 325 or even lower towards 316 levels. Only a rise above 351 would induce bullishness S1: 328 S2: 320 R1: 343 R2: 350

MCX Nickel Oct: While above 470 levels corrective rallies may test resistance levels at 486 -500 levels . Fall below 465 would negate this view and would signal the resumption of the bearish move.
S1: 455 S2: 435 R1: 488 R2: 508

MCX Lead Oct: As long as 62.35-61.25 levels support , corrective rally could test resistance levels at 65.85 or even higher at 67.0 levels.Fall below 62.0 would negate this view and would signal the resumption of the bearish move.S1: 63.25 S2: 62.0 R1: 66.0 R2: 67.0

MCX Zinc Oct: As long as 56.65-55.90 levels support , corrective rally could test resistance levels at 60.45 or even higher at 62.40 levels. Fall below 55.0 would negate this view and would signal the resumption of the bearish move. S1: 57.35 S2: 55.85 R1: 59.85 R2: 61.0

VIEWS FOR 23rd OCTOBER 2008

MCX Gold (December): Downside target extends to 11656/11607 or even 11395. The overdone indications shown by oscillators suggest that there could be a corrective retracement towards 12000/12032 regions before further weakness. Rise past 12100 would hint at stronger recovery.Play a downturn in the resistance area.S1: 11800 S2:11725 R1: 11965 R2: 12045

MCX Silver December: Rallies to 17426 followed by 17625 should find resistance for a test of 16590 or even 16084.Only a break of 18024 would negate this view.S1:16850 S2:16500 R1:17450 R2:17850

MCX Crude Oil November: Favoured view expects the price to stay under 3636 and fall towards 3038. A corrective rise is favored first while staying above 3342.Resistance at 3446 or 3482 could attract first. Fall below 3342 would hint that it would be going down for 3260 first.Favoured view expects price to stay under 3489 and start next leg decline.S1: 3500 S2: 3445 R1:3625 R2:3370

MCX Copper November: - Rallies to 205.65/207.9 are expected to find resistance for a fall lower towards 190.8 or even 189.6.Only a break of 212.5 would negate this view.S1: 204 S2: 200 R1: 213 R2:218

MCX Zinc Oct: More downside expected. As long as 56.5 levels resist, expect prices to move lower towards 53.5 or even lower towards 51.0 levels.Only a rise above 57.15 would negate this bearish view.S1: 54.0 S2: 52.85 R1: 56.85 R2: 58.0

MCX Lead Oct: More downside expected. As long as 62.0 levels resist, expect prices to move lower towards 57.5 or even lower towards 53.5 levels.Only a rise above 63.0 would negate this bearish view.S1: 60.3 S2: 58.5 R1: 64.25 R2: 66.80

MCX Nickel Oct: Breach of important support levels would lead to lower levels today. As long as 485 levels resist , expect prices to move lower towards 468 or even lower towards 445 levels. Only a rise above 501 would cast doubts on this bearish view.S1: 465 S2: 445 R1: 502 R2: 526

MCX Natural Gas Nov: Currently trading in the range 342-357. Expect a sharp directive move on the break of this range.S1: 340 S2: 328 R1: 360 R2: 372

VIEWS FOR 21ST OCTOBER 2008

MCX Gold (December): Break and rise above 12989/13040 could open the way for temporary bullishness towards 13196 levels.Favored view still expects resistance in the 12989/13040 zones to be capped for a fall towards 11980 levels.S1: 12650 S2:12525 R1: 12850 R2: 12945

MCX Silver December: Showing a bullish picture now. Bullish divergence followed by a rise above 17852 could result in a pullback towards 20363 now.Fall below 17224 would diminish bullish hopes.
S1:17650 S2:17300 R1:18100 R2:18450

MCX Crude Oil November : Price could hold above 3716/3742 and attempt to test next resistance levels spread between 3840 $ 3915. As the trend is still down Direct fall below 3661 would hint that the corrective rally might have exhausted sooner than expected.S1:3700 S2:3635 R1:3810 R2:3865

MCX Zinc Oct: As long as 61.2 levels resist , expect prices to move lower towards 58.2 or even lower towards 56.25-54.0 levels. Only a rise above 62.0 would negate this bearish view.
S1: 58.0 S2: 56.85 R1: 61.0 R2: 62.35

MCX Lead Oct: As long as 72.5 levels resist , expect prices to move lower towards 68.3 or even lower towards 66.0-65.0 levels.Only a rise above 73.0 would negate this bearish view.S1: 69.0 S2: 68.10 R1: 71.95 R2: 73.20

MCX Nickel Oct: As long as 537 levels resist , expect prices to move lower towards 514 or even lower towards 500-490 levels.Only a rise above 545 would negate this bearish view.S1: 518 S2: 503 R1: 550 R2: 572

MCX Natural Gas Nov: As long as 355 levels resists expect prices to move lower towards 343 or even 330 levels Rise above 361 to dent our bearish expectations. S1: 339 S2: 328 R1:360 R2: 372

VIEWS FOR THE WEEK -- 20TH OCTOBER TO 25TH OCTOBER

MCX Gold (December): Positive short-term momentum favors a corrective rise towards 12905 or 12954. It needs to cross above 13018 to attract more buying.Favoured view suggests that price could stay below 12954 and starts falling towards 11950.S1: 12500 S2:12438 R1: 12645 R2: 12715

MCX Silver December: Resistance at 18205/18241 levels now. Direct rise above 18425 will bolster hopes for a pullback towards 20533 levels.However, favored view expects resistance at 18333/18425 to cap for a decline towards 16408/16500.S1:17120 S2:16850 R1:17550 R2:17800

MCX Copper November :- Range trade between 225 to 249 in progress. Favored view expects a pullback towards 264/267or even higher as long as the downside range at 225-227 holds.S1: 237 S2: 232 R1: 246 R2:251

MCX Crude Oil November : Upside attempts could be capped near 3688/3714 for next decline towards 3240/3265. It has to rise above 3728to prove this expectation wrong as such a rise could attempt to cross above 3765 and go for 3837 plus.S1:3545 S2:3485 R1:3665 R2:3715

MCX Zinc Oct: As long as 58.2 levels support, expect corrective rallies to 62.0 or even 63.7 levels.Fall below 58.0 would confirm resumption of the bearish trend. S1: 58.0 S2: 56.85 R1: 61.0 R2: 62.35

MCX Nickel Oct: Expect corrective rallies to test 571 or even 595 levels as long as 525-515 levels support .However a fall below 510 would hint at further weakness in prices.S1: 518 S2: 503 R1: 550 R2: 572

MCX Lead Oct: Expect corrective rallies to test 72.6 or even 75.4 levels as long as 68.0 levels support . Fall below 67.3 would lead to further decline.S1: 69.0 S2: 68.10 R1: 71.95 R2: 73.20

MCX Natural Gas Oct: As long as 329-325 levels hold support expect prices to rally towards 349 or even 366 levels .Fall below 325 to dent our bullish expectations. S1: 327 S2: 321 R1:341 R2: 349

VIEW FOR 17TH OCTOBER 2008

MCX Gold (December): Moved as per expectations. Pullback expected for the day towards 13055-13086 or even higher towards 13229.Favored view still expects a fall towards 12055 levels as long as these resistances cap . Caution to be exercised for shorts on the break of 13515.S1: 12700 S2:12635 R1: 12850 R2: 12935

MCX Silver December: As expected we saw a fall towards 17000. Showing some signs of pullback today.Resistance at 18082 followed by 18622 .Favored view expects resistance to cap for a fall towards 15347 .Unexpected rise above 18712 to cast doubts on this bearish view.S1:17120 S2:16850 R1:17550 R2:17800

MCX Copper November :- Resistance at 257.1 expected to cap for a decline towards 226 or even lower .. However a move above 263-264 should hint at the extension towards 290. S1: 226 S2: 221 R1: 236 R2:241

MCX Crude Oil November : Corrective rise towards 3702/3737 region is favored. Supports are at 3578, 3538 $ 3523.correction before next decline towards 3230.It has to fall below 3463 to hint at the possibility of failure of this expectation. The expected rally would be treated as a minor S1:3435 S2:3375 R1:3585 R2:3665

MCX Zinc Oct: Oversold conditions indicate a bounce from yesterdayAcA?A¿s lows. As long as 57.85-58.2 levels support expect corrective rallies to 62.0 or even 63.7 levels. Fall below 57.8 would confirm resumption of the bearish trend. S1: 58.0 S2: 56.85 R1: 60.0 R2: 61.3

MCX Lead Oct: Expect corrective rallies to test 71.3 or even 73.10 levels as long as 68.0 levels support . Fall below 67.3 would lead to further decline.S1: 68.0 S2: 67.10 R1: 70.0 R2: 71.20

MCX Nickel Oct: Expect corrective rallies to test 571 or even 595 levels as long as 545 levels support .However a fall below 545 would hint at further weakness in prices. S1: 545 S2: 530 R1: 568 R2: 591

MCX Natural Gas Oct: As long as 329-325 levels hold support expect prices to rally towards 349 levels . Fall below 322 to dent our bullish expectations.S1: 327 S2: 321 R1:341 R2: 349

VIEWS FOR 16th OCTOBER 2008

MCX Gold (December): Favored view expects a fall towards 12853 levels or even lower. A bearish consolidation is in progress and as long as 13682 caps upside attempts , we can see a fall below 12853 levels.S1:13265 S2:13200 R1:13385 R2:13455

MCX Silver December: As expected we saw a fall towards 18125.Resistance at 18656 followed by 19010 now.Rise above 19365 to cast doubts on our bearish expectations. S1:18100 S2:17850 R1:18450 R2:18785

MCX Crude Oil :-Rise above 3690 is needed to hint at a stronger upward retracement. S1:3545 S2:3500 R1:3615 R2:3670

MCX Copper November :- As expected we saw a test of 236 levels . Further downside to 227 or even lower 207 levels looks likely.Only a rise above 249 to reinforce bullish expectations. S1: 228 S2:223 R1:238 R2:243

MCX Zinc Oct: Moved as expected. Expect bearishness to continue for a test of 61.0 levels now as long as 66.0 levels resist .Only arise above 66.75 would cast a doubt on this view. S1: 62.75 S2: 61.35 R1: 65.85 R2: 67.10

MCX Lead Oct: Expect bearishness to continue for a test of 70.5 levels now as long as 75.60 levels resist .Only a rise above 76.15 would cast a doubt on this view. S1: 72.45 S2: 71.05 R1: 74.55 R2: 75.65

MCX Nickel Oct: Expect bearishness to continue for a test of 565 levels or even lower towards 540 now as long as 605 levels resistOnly arise above 615 would cast a doubt on this view.S1: 570 S2: 558 R1: 596 R2: 612

VIEWS FOR 15th OCTOBER 2008

MCX Gold (December): The 12696-13580 range is active now. Favored view expects the lower side of the range to be broken followed by a test of 11844 or even lower.S1:13000 S2:12945 R1:13145 R2:13220

MCX Silver December: Favored view expects a test of 19890 as long as 18090 holds.S1:18350 S2:18120 R1:18950 R2:19165

MCX Copper November :- Came close to testing our target and retraced from there. Important support is at 243 now below which the downtrend could find more momentum. Structure however favor an upside towards 281 or even higher towards 299 as long as 235/237 holds.S1: 245 S2:239 R1:258 R2:264

MCX Crude Oil October: The decline could find supports near 3727/3713 for one more corrective rise towards 4073 or 4121.Fall below 3713 would increase the chances of further decline towards 3645/3650.S1:3712 S2:3645 R1:3895 R2:3955

MCX Zinc Oct: As long as 69.7-70.6 levels resist , expect prices to move lower towards 66.4 or even 64.0 levels.Only a rise above 71.0 levels will bring in bullishness. S1: 66.75 S2: 65.35 R1: 68.85 R2: 70.10

MCX Lead Oct: Expect bullishness to continue for a test of 80.70 or even 81.65 levels as long as 76.45 levels hold support .Only a fall below 75.6 would negate this bullish view.S1: 76.15 S2: 75.0 R1: 78.15 R2: 79.55

MCX Natural Gas Oct: Only a break of the range 317-331 would decide the next directive move.S1: 316 S:310 R1:332 R2: 345

VIEW FOR 14TH OCTOBER 2008

MCX Gold (December): The 12778-13666 range is active now. Favored view expects the lower side of the range to be broken followed by a test of 11921 or even lower.S1:13165 S2:13100 R1:13300 R2:13385.

MCX Silver December: Favored view expects a test of 20345 as long as 18503 holds.S1:19000 S2:18775 R1:19325 R2:19560

MCX Copper November :- The pullback could extend towards 278 levels where it could find good resistance.Supports are at 257 now. Fall below 250 could dent our bullish expectations.S1: 260 S2:256 R1:266 R2:273

MCX Crude Oil October: Supports are near 4008 $ 3955. Favoured view is bullish for a rally towards 4088 or most probably 4138.It has to fall below 3877 to suggest failure of this view.S1:3985 S2:3920 R1:4100 R2:4165

MCX Zinc Oct: As long as 70.0-69.15 levels support, expect prices to move higher towards 72.45 levels or even 75.35 .Only a fall below 68.75 would negate this bullish view. S1: 68.75 S2: 67.35 R1: 72.85 R2: 74.0

MCX Lead Oct: As long as 75.1-74.15 levels support, expect prices to move higher towards 78.05 or even towards 80.0.Only a fall below 74.0 would negate this bullish view.S1: 75.15 S2: 74.0 R1: 77.15 R2: 78.55

MCX Nickel Oct: As long as 600 levels support, expect prices to move higher towards 665 or even towards 687.Only a fall below 588 would negate this bullish view.S1: 605 S2: 585 R1: 638 R2: 655

VIEWS FOR 13th OCTOBER to 18th OCTOBER

MCX Gold (December) : Favored view expects 13885/13964 to resist and price to fall again towards 13095 levels. crucial support is at 12969 and a daily close below this level could open the way for 11597 lows. Only a rise above 14170 could force us to abandon our bearish view now.S1:13610 S2:13545 R1:13785 R2:13850

MCX Silver (December): Chances of a good pullback evident is silver futures. Resistance will be seen at 20921 followed by 21871. Fell in the bigger picture resistance to cap for one more decline towards 17354. S1:19850 S2:19500 R1:20385 R2:20750.

MCX Crude Oil (October): Favored view expects that price could stay above 3970 or 3920 for further advance towards 4070 or 4045. Fall below 3913 would hint at weakness and suggest that price could fall further towards 3843 or even 3800. S1:3880 S2:3820 R1:3990 R2:4050

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VIEWS FOR OCTOBER 10th, 2008

MCX Gold (December): Despite yesterday's volatility looks set for a break of 14333 and testing 14750 or even higher.Supports are at 13980 followed by 13872. Fall below 13975 to dent our bullish view.S1: 14000 S2: 13925 R1:14195 R2:14300

MCX Crude Oil October: Resistance at 4069 followed by 4117. Price could fall further towards 3969 or 3938.Rise past 4207 is needed to suggest further corrective rise towards 4243.S1: 3925 S2:3845 R1:4045 R2:4110

MCX Copper November :- Has met some of the medium term targets. Indicators in oversold conditions warn of a pullback. Fall towards 227 levels look likely.Can look for a potential short-term bounce higher from here.S1: 235.0 S2: 233.0 R1: 239.5 R2: 242.4

MCX Natural Gas Oct: A break of the broad range 317- 333 will decide the next directive move however the bias still remains on the downside.S1: 323 S:315 R1:338 R2: 346

MCX Lead Oct: A break below 77.85 levels would be a bearish sign and may take prices lower towards 75.25 or even 74.10 levels.Resistances now at 81.0 levels.Resistances now at 72.8-73.95 levels.A rise above 74.0 is needed to negate this bearish view. S1: 71.05 S2: 69.85 R1:73.5 R2: 74.85

MCX Nickel Oct: A break below 625 levels would be a bearish sign and may take prices lower towards 595 or even 570 levels. Resistances now at 635 levels A rise above 641 is needed to negate this bearish view.S1: 595 S2: 575 R1: 641 R2: 658

VIEWS FOR 8TH OCTOBER, 2008

MCX Gold (December): Ideally support should be seen at 13330/13345 levels now followed by 13207. Favored view now expects supports to hold for a test of 13711or even higher. Fall below 13085 to dent our bullish hopes.S1: 13425 S2: 13330 R1:13610 R2:13700

MCX Silver December: Could see a corrective bounce towards 20650 or even higher towards 21084. Supports are at 18915 followed by 18580 now.Fall below 18530 is expected to take prices lower towards 17235.S1: 19100 S2:18900 R1:19485 R2: 19635

MCX Crude Oil October: Downside target is at 4066 but there is a good chance for the price to stay above 4283 or maximum 4225 and rise in correction towards4440 or even 4480. Ideally next decline should commence after this correction. This is the favored scenario.Rise beyond 4492 could hint at further advance towards 4598.S1: 4185 S2:4125 R1:4307 R2:4368

MCX Copper Nov: Resistance to cap for a decline towards 237.S1: 267.5 S2: 264.0 R1: 273.5 R2: 277.4

MCX Zinc Oct: As long as 73.45-72.85 levels support , expect corrective rallies towards 76.7 or even 78.0 levels .However a fall below 72.30 would negate this bullish view. S1: 73.4 S2: 72.2 R1:75.6 R2: 76.7

MCX Nickel Oct: As long as 680 levels support , expect prices to edge higher towards resistance levels at 715- 725 levels .. However a direct fall below 675 would negate the bullish view.S1: 670 S2: 655 R1: 695 R2: 715

MCX Natural Gas Oct: Expect bearishness to continue for the test of 314 or even 301 levels as long as 340 levels resist.S1: 320 S:312 R1:347 R2: 359

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VIEW FOR 7TH OCTOBER 2008

MCX Gold (December): Prices are consolidating in a broad range of 12672 and 13440 as of now. Supports are at 13056/13117 which could hold for a rise towards 13594/13640 , break below 12918 would negate this bullish view.S1: 13285 S2: 13215 R1:13395 R2:13465

MCX Silver December: Prices are moving in a broad range of 18635 and 19656 as of now. As long as 19571/19656 resist expect a move lower towards 18635 followed by 18465. Direct break above 19656 could see prices testing 19996/20085 which are also strong resistance levels.S1: 18900 S2:18720 R1:19300 R2: 19545

MCX Copper November :- Expect dips to find support at 259.2/261.3 for a move higher towards 277.5/280.7, break below 253.8 would negate this bullish view.S1: 263.5 S2: 259.0 R1: 269.5 R2: 273.4

MCX Crude Oil October: Mild bullish indications suggest that there could be a brief phase of upward correction towards 4382/4392, 4462 or maximum 4490.A down turn is expected to occur at any of these levels with some peaking signs. Next decline could attempt 4111 or 4063. S1: 4255 S2:4185 R1:4365 R2:4415

MCX Zinc Oct: As long as 72.8-71.45 levels support , expect corrective rallies towards 76.7-78.0 levels . However a fall below 71.35 would negate this bullish view. S1: 72.75 S2: 71.60 R1:75.0 R2: 76.15

MCX Lead Oct: As long as 77.35-75.45 levels support , expect prices to stay firm and test resistance levels at 82.7 or even 84.0 levels from here. A fall below 77.0 would negate this bullish view.S1: 77.35 S2: 76.25 R1: 79.65 R2: 80.85

MCX Nickel Oct: As long as 715-725 levels resist , expect the downslide to continue towards 664-648 levels . However a rise above 730 would negate this bearish view.S1: 670 S2: 655 R1: 695 R2: 715

MCX Natural Gas Oct: Structure looks and bearish and set to touch 325 or even 315 levels as long as 350 levels resist. A rise above 355 would negate this bearish view.S1: 328 S:320 R1:343 R2: 351

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