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MCX SILVER March contract was trading at Rs 49541 down Rs 1097, or 2.16%. It touched an intraday high of Rs 50506 and an intraday low of Rs 49361.00.


MCX SILVERM April contract was trading at Rs 50662.00 down Rs 1160.00, or 2.24%. It touched an intraday high of Rs 51677.00 and an intraday low of Rs 50480.00.


MCX SILVER May contract was trading at Rs 50662.00 down Rs 1107.00, or 2.14%. It touched an intraday high of Rs 51374.00 and an intraday low of Rs 50462.00.

MCX SILVERM February contract was trading at Rs 49571.00 down Rs 1110.00, or 2.19%. It touched an intraday high of Rs 50521.00 and an intraday low of Rs 49382.00.
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Gold-


The support for Gold remains at 27504/27414 it has resistance at 27714/27834 level. Gold hovered around $1,600 an ounce on Tuesday, as investors stayed on the sidelines in the final week of the year with lingering concerns about the euro zone debt crisis.

Silver-


The support for Silver remains at 52951/52764 while it has resistance at 53263/53388 level. Silver hovered, as investors stayed on the sidelines in the final week of the year with lingering concerns about the euro zone debt crisis.

Copper –
The support for copper remains at 407/406 while it has resistance at 409/410 level. Copper rose in thin trade after a recent run of encouraging data from the United States provided an optimistic outlook for growth and for metals demand in the world's largest economy.
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S/No. Commodity R3 R2 R1 S1 S2S3
1. Gold 27833 2782027805277752776027754
2. Silver 533105324853186530315293852879
3. Crude 531553055295528052755265
4. Copper 408.75 408.00407.35406.25405.85405.15
5.Zinc98.4098.3598.3098.15 98.05 98


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S/No. Commodity R3 R2 R1 S1 S2S3
1. Gold 28159 2805727956277032755127450
2. Silver 545555419553835528555223551875
3. Crude 532852705213505549544897
4. Copper 407.5 403.8400.2391.1385.6381.9
5.Zinc100.9100.299.4998.04 97.32 96.6
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COPPER (FEB. 2012)

Last week, it broke major support level of 410 and finally made a low of 386. Overall trend is bearish and sell on rise strategy. Now resistance at 399-400. Downside support at 380-373 to watch out, once break and trade below bears may show power.

NATURAL GAS

After a long gap, finally broke major support level of 170 and heading towards the 140-143 mark in coming days. Bulls must avoid to buy side.

Nickel

Nickel strongly maintained its support at 950. Today we expect that this level may breach but a bounce back from lower level is also there on the card.
Last day Nickel breached the level of 950 and smartly bounced back from lower level."
Today's Tips: Buy Nickel above 983. TGT- 992. SL- 975. Sell only below 970. TGT- 958. SL- 975.
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GOLD: (Feb 2012)
Gold February as seen in the weekly chart, found resistance at 29433, fell sharply lower towards 29000, and finally closed lower.
For this week expect MCX gold resistance at 29300-29400. If it would not gain in this week, one can sell the gold at that level. If it goes above 29450, then 29650-29800 can also expected from the counter. However, safe heaven buying to continue on euro zone fears.
Support is now observed at 28980. One can buy around the level and if it does not maintain levels, further below strong support is seen at 28470. Trading consistently below 28500 could trigger a sharp correction initially towards 28250-28150.
SILVER (March 2012)
Silver March as seen in the weekly chart, found resistance at 58000, then fell sharply lower towards 56000, and closed at 57000.
For the next week we expect Silver prices to find resistance at 58350. One should sell the position at that level. If trading consistently above 58400, it can trigger a sharp rally initially towards 59200, then 59850, and then finally towards 60500. For this swing, the 60000 level can be a last point this time. Above that a new trend formation can be noted.
Support is now observed at 56200-56000. Trading below 56000 would give correction initially towards 55650, and then finally towards 55500.
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CRUDE (DEC)

Crude December as seen in the weekly chart, after making a high of 5275, fell sharply towards 5100 levels.
Support is now observed at 5120. If it breaks with volume then it can touch 4950. Trading below 4980 would trigger a sharp fall initially towards 4850, then 4800, and then finally towards the Major support at 4500.
Trend Decider of this week: 5182
Today: Check what happened yesterday... above 5200 we were bullish and more bullish above 5275, and it made a high of 5380 (against 5400)... Overall trend is bullish and decline to buy... above 5275-52502, no problem for bulls.
 

COPPER (FEB. 2012)

Copper February as seen in the weekly chart, found good resistance at 415 and lower side 404.
Support is now observed at 403-398. Trading consistently below 398 can give correction initially towards 388, then 380, and then finally towards 373.
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5Z2BWFQ7XXGX

GOLD

R3

R2

R1

S1

S2

S3

29431

29236

29044

28704

28856

28364

SILVER

R3

R2

R1

S1

S2

S3

57673

57152

56631

55774

55438

54917

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