Kapas April 2008
Kapas Futures market is likely to remain sideways to low today.
Can SELL Kapas at MCX around - below Rs. 440.0 - 439.00 and likely first target is Rs 437.50 - 435.00 with a Stop Loss at Rs. 442MCX CHANA
Market has shown slight improvement of Rs. 23 in December futures and Rs. 20 in January futures, as compared to the last few days fall. Participants advised to wait and watch the market for a clear trend. Market likely to trade in the band of Rs. 2245 - 2275.
If market Improved further by Rs. 10 - 12 , Advised to Buy before the end of the trading session.
If market does not improve further, look to sell at higher levels.
Participants can also look to BUY MCX Chana March Futures for long term.Refined Soy Oil
Dec : BUY Dec contract at around Rs. 526.0 for the first profit target of Rs. 527.5 and the second target of Rs. 528.5 , stop loss - 524.5
Jan : BUY Jan contract at around Rs. 533.0 for the first profit target of Rs. 535.5 and the second target of Rs. 536.5, stop loss - 531.5Trading 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 10100 .

Silver seems to be bearish can initiate a sell position around 19000 levels with a stop loss around 19150 levels and the profit target 18800 , next target 18750.Crude Oil
Crude oil prices may display extreme volatility today owing to the OPEC meeting and inventory report from the US. Prices may find 1st support at 3450 while 1st resistance may be around 3510. Overall outlook seems bearish. Further movement would depend on OPEC’s decision on production. Movement would also depend on inventory data to be released at 9pm today. Expected inventory for crude oil is a fall of 0.9 million barrels.
Natural Gas
Natural gas continues to look bearish with a technical support around 279 levels. Can sell initially for the same target and stop loss of 283. If the sell off continues, 2nd target may be around 276. Keep close watch on weather conditions in the US for further movement in prices. Zinc
Intraday outlook looks downward for zinc. In near term Zinc could retrace higher due to short covering & bargain hunting and on a talk of canceling 5% value-added tax rebates on refined zinc exports, which could limit the exports and may provide support to the prices.

Intra Day Call: Short MCX Dec Zinc below 98.10 with STP @ 98.90, Target: 96.00

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 severe oversold condition. Weakness in U.S., European stainless steel markets likely to cap nickel.

Intra Day Call: Short MCX Dec Nickel below 1070 with STP @ 1078, Target: 1056

Lead
Intraday outlook looks downward for Lead. Delay of exports tightening may lend 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.

Intra Day Call: Short MCX Dec Lead below 116.20 with STP @ 117.00, Target: 114.00

Copper
Intraday outlook looks downward for copper. As bounce was corrective and downtrend expected to resume as further upside movement seems to be limited. Price could fuel on concern over expectation of another FED interest rate cut which buoys the market.

Intra Day Call: Short MCX Feb Copper below 268.50 with STP @ 270.30, Target: 264.40

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 96.30 with STP @ 95.70, Target: 97.60