GOLD:- Last week gold made the low of 1604.55 & high of 1661.95 against our estimate of 1592 & 1642 respectively. Now we see more evenly placed probability for bullish as well as bearish trend. For the coming week we see 1604-1662 as the trading range &1715-1725 as resistance. On the downside there are supports at 1560-1570 & 1475-1485 as support.  We recommend going short gold on breach of 1604 with the stop of 1625 for the target of 1570 & 1485. In rupee terms sell FEB 2012 FUT MCX on breach of 27270 with the stop of 27540 for the targets of 26700 & 26200.

SILVER:- Last week silver made the high of 30.674 &  low of 28.561 against the estimation of 30.20 & 28.55 respectively.  Now we see more evenly placed probability for bullish as well as bearish trend. For the coming week we see 28.55-30.20 as the trading range & 31.30-31.50 as the resistance. On the downside there are supports at 27.50-27.70 & 25.90-26.10. We recommend going short on breach of 28.55 with the stop placed at 29.00 for the target of 27.70 & 26.10. In rupee terms sell MARCH 2012 MCX FUTURE on breach of 51350 with the stop of 51800 for the targets of 49600 & 48100.

CRUDE:-Last week it made the high of 103.41 & low of 97.70 against our estimate of 104.50 & 97.50 respectively. For the coming week we see 97.70-100.20 as the trading range, supports at 93.90-94.10 & resistance at 102.5-103.00.We are bearish on it. We recommend going short around 100.00 with the stop of 100.30 or on breach of 97.70 for the target of 94.10 & lower. In rupee terms sell around 5160 with the stop of 5195 for the targets of 5010 & lower in JAN 2012 FUT MCX.

NATURALGAS:- Natural gas made the high of 3045 & low of 2621. The low formed was much below our expectation as it opened downside a further extension. For the coming week we see  2750-2770 as the resistance & initial support at 2580-2600 & breach of this will lead to 2400-2420.We recommend selling around 2750 with the stop of 2800  for the target of 2600 & 240. In rupee terms go short around 148 with the stop of 155 for the targets of 125 for JAN 2012 FUT MCX?

COPPER:-Last week copper made the high of 8118 & low of 7445 & closed at 8000.It has shown distinct bullish tone against our bearish expectation.   For the coming week we see initially consolidation in the 7800-8125 range & in the second half to head for the 8250-8300 range. We recommend going long around 7850 with the stop of 7750 for the targets of 8125 & 8300. In rupee terms buy around 412 with the stop of 409 for the target of 420 & 428 in FEB 2012 FUT MCX.

LEAD:- Last week it made the high of 2049.50 & low of 1950 against the estimation of 2040 & 1920 respectively. For the coming week we see initial resistance at 2040-2050 & support at 1970-1980.The cross above 2050 will lead to retest of 2090-2100. We recommend going long around 1990 with the stop of 1960 for the targets of 2040 & 2090. In rupee terms go long on cross above 105.20 with the stop of 103.5 for the targets of 106.5 & 109.50 in the JAN 2012 MCX FUT.

NICKEL:- Nickel has made the high of 19950 & low of 18500 against the estimate of 19900 & 18300 respectively. Our target of 20000 is achieved & we revised now this target upward to 20400-20500. For the week we see initial support at 19100-19200 & resistance at 19900-20000.The cross above 20000 will  lead to 20400-20500.We recommend a buy around 19300 with the stop of 19000  for the target of 19900 & 20400.In rupee terms buy around 1005 with the stop 995 for the target of 1025 & 1045 in JAN 2012 FUT MCX .

ZINC:-  ZINC has made the low of 1841,high of 1984.75 & closed at 1960.   For the week we see support at 1910-1920 & initial resistance at 1980-1990 & cross above of this support will lead to test the higher resistance at 2060-2070.We recommend going long around 1930 with the stop of 1900 for the target of 1980 & 2060.  In rupee terms buy around 100 with the stop of 99.50 for the target of 102.75 for JAN 2011 FUT AT MCX.

ALUMINIUM:- Last week it made the low of 2049, high of 2197 & closed at 2145. For the week we see support at 2090-2110 & initial resistance at 2190-2210.A cross above 2210 will lead to 2300-2320.   We recommend going long at 2120 with the stop of 2080 for the target of 2210 & 2300in next 2-3 weeks. In rupee terms buy around 109.5 with the stop of 108 for the target of 114.00 & higher for JAN 2011 FUT MCX.