Crude Oil
OPEC’s decision on not to increase production and a 8 million barrel decrease in inventories led to a momentary rally upwards in crude oil prices, however, a downward correction was seen during the later part of the trading session. The bearish momentum may continue today with prices targeting 3425 intially, therefore, can sell for the same target. If the sell-off continues, 2nd target may be around 3400.
Natural Gas
Natural gas prices might trade in the range of 283 to 288 today. Keep close watch on inventory data to be released at 9pm today as market is expecting a fall of 80 billion cubic feet in natural gas stockpiles. This might be the biggest fall in inventories compared to the same period last year. Kapas April 2008
Kapas Futures market is likely to remain sideways to up today.
Can Buy Kapas at MCX around - below Rs. 444.0 - 443.00 and likely first target is Rs 447.00 - 446.50 with a Stop Loss at Rs. 441MCX CHANA
Market is showing range bound to flat movement. Expected to trade in the Range of Rs. 2240 - 2270.
Buy at lower band in the range of Rs. 2240 - 50
Sell at upper band in the tange of Rs. 2270- 80.Zinc
Intraday outlook looks upward for zinc. In near term Zinc could retrace higher due to short covering & bargain hunting and on a talk of delaying cancellation of 5% value-added tax rebates on refined zinc exports, which could limit the exports and may provide support to the prices.

Intra Day Call: Long MCX Dec Zinc above 95.50 with STP @ 94.70, Target: 97.80

Nickel
Intraday outlook looks downward for Nickel. Nickel prices are likely to hover below. Upside momentum could trigger due to short covering as market is in oversold condition. Weakness in U.S., European stainless steel markets likely to cap nickel.

Intra Day Call: Short MCX Dec Nickel below 1036 with STP @ 1044, Target: 1018

Lead
Intraday outlook looks downward for Lead. Forecast is for mild U.S. winter bearish for lead. Delaying exports tightening may lend bit support to lead prices which had softened last month as China may suspend imposing export duties on refined lead, Prices may weaken in short term due to substantial increase in LME inventories & US Weather forecast.

Intra Day Call: Short MCX Dec Lead below 111.70 with STP @ 112.50, Target: 108.60

Copper
Intraday outlook looks upward for copper. Price could fuel on concern over expectation of another FED interest rate cut which buoys the market. Prices are likely to remain firm due to expected fall in SHFE inventories (Friday).

Intra Day Call: Long MCX Feb Copper above 267.20 with STP @ 265.10, Target: 271.50

Aluminum
Intraday outlook looks upward for aluminum, relatively steady despite the weakness in other base metals and looks firm. There has been supportive buying by European consumers due stronger EUR inducing buying.

Intra Day call: Long MCX Dec Aluminum above 96.50 with STP @ 95.90, Target:98.20
Trading Strategies for Gold and Silver (Intra day).

Gold seems to be bearish, Can initiate a sell position around10200 levels with a stop loss around 10250 levels with a profit target of 10120 , and next target 10000 .

Silver seems to be bearish can initiate a sell position around 19050 levels with a stop loss around 19150 levels and the profit target 18900 , next target 18800.