GOLD:-Last week gold made the low of 1522& high of 1609 against our estimate of 1530& 1642 respectively.However it followed our low probability trajectory &not high probability.In our view it has formed the intermediate term bottom & at most bearish case it may make one more new low below 1522 but not below 1475 in any case.For the coming week we see 1544-1592 as the trading range, 1632-1642 as resistance & 1475-1485 as support.  We recommend going long gold around 1550 & then on decline at 1495 with the stop of 1475 for the target range of 1632-1642. In rupee terms buy FEB 2012FUT MCX around 26900 & at decline 26400with the stop of 26200 for the target range of 28100-28200.

SILVER:-Last week silver made the high of 29.20& low of 26.138 against the estimation of 28.90 & 26.20 respectively.In our view it has formed the intermediate term bottom at 26.138 in 75% probabilities& as abalance 25% it may make a nominal new low below 26.10 in 25.80-26.00 range.For the coming week we see 27.00-28.50 as the trading range, support at 25.80-26.00& 30.00-30.30 as resistance. We recommend going long around 27.00 & then at decline below 26.00with the stop placed at 25.80 for the target of 30.00-30.30. In rupee terms buy MARCH 2012 MCX FUTURE49800 & at decline 48200 with the stop of 48000 for the target of 53200, 54100 & higher.

CRUDE:-Last week it made the high of 101.77&low of 98.30 against our estimate of 103.00&98.50 respectively.For the coming week we see 98.50-100.20 as the trading range & support at 97.50-98.00.We are bullish on it but expect some more consolidation before further run up & see the resistances at 101.25-101.75 & then at 103.50-104.00.We recommend going longaround 98.50 with the stop of 98.25 for the target around 101.25 & higher. In rupee terms buy around 5270 with the stop of 5245 for the targets of 5320& higher in JAN 2012 FUT MCX.

NATURALGAS:-Natural gas made the high of 3181& low of 2957against the estimate of 3200 & 2900.It is in the last leg of its current intermediate term decline & we are expecting minimum bounce to 3500+ levels. For the coming week we see   2980-3075 as the trading range& resistance at 3180-3200.However this being the terminal move & which may either undershoot or overshoot.We recommend buyingaround 2900 with the stop of 2875 for the target of 3200& higher.In rupee terms go long around 158 with the stop of 156 for the targets of 172 & above for JAN 2012 FUT MCX?

COPPER:-Last week copper made the high of 7605.25 & low of 7368 against the expectation of 7670& 7400. For the coming week we see7470-7700 as trading range & cross above of 7700 will lead to 7870-7900.Similarly breach of 7470 will lead to retest of 7300-7330 but we see it as low probability.We recommend going longaround 7500with the stop of 7450 for the targets of 7670 & higher. In rupee terms buy around 402with the stop of 400 for the target of 410 & higher in FEB 2012 FUT MCX.

LEAD:-Last week it made the high of 2039.25 & low of 1955 against the estimation of 2040 & 1960 respectively. For the coming week we see resistance at 2055-2065 & initial support at 1900-1920.The breach below 1920will lead to retest of 1780-1800. We recommend going short above 2045 with the stop of 2070 for the targets of 1920 &1800. In rupee terms go short above108.5 with the stop of 109.5 for the targets of 104 &101.00  in the JAN 2012 MCX FUT.

NICKEL:-Nickel has made the high of 18710&low of 17750 against the estimate of 18900& 17600 respectively. In our view it formed the intermediate bottom at 16550 & rally to 20000 is on cards in next 2weeks. For the week we see initial support at 18300-18400 & resistance at 19700-19900.Thereafter we see steep fall to find the support at 17400-17600. We recommend a buy around 18600 with the stop of 18300  for the target of 19700-19900.In rupee terms buy around 990 with the stop 975 for the target of 1020& above in JAN 2012 FUT MCX .

ZINC:-ZINChas made the low of 1807,high of 1863.75 & closed at 1845.  It has formed the inverted flag &broken downside of it. For the week we see resistance at 1895-1905& initial support at 1750-1760 & breach of this support will lead to test the lower support at 1660-1670.We recommend going short around 1850 with the stop of 1880 for the target of 1750& 1660. In rupee terms sell around 100 with the stop of 101.50 for the target of 94.50& 90.75 for JAN 2011 FUT AT MCX.

ALUMINIUM:-Last week it made the low of 1980.50,high of 2020 & closed at 2020. In our view it will make a one more new low around 1920-1940 to terminate the current down wave. For the week we see support at 1920-1940 & initial resistance at 2030-2050.However we would draw the attention that once the low is formed a vertical rise is expected.  We recommend going short at 2025 with the stop of 2060 for the target of 1920-1940. In rupee terms sell around 106with the stop of 106.5 for the target of 103.00&lowerfor JAN 2011 FUT MCX.