Mcx Weekly Calls

Mcx Weekly Reccomendation
23-June-28-June

WEEKLY Recommendation GOLD BUY AT 12346 S/L 12234 TGT 12637 & 12817 SILVER BUY AT 24009 S/L 23731 TGT 24738 & 25188

WEEKLY Recommendation CRUDE/AUG NYMEX SELL AT 136.74 S/L 137.96 TGT 133.57 & 131.60 MCX (JUL) SELL AT 5863 S/L 5914 TGT 5727 & 5643

Mcx 23-28 June

MCX 23-June-28-June

GOLD SPOT LEVEL'S Support:- 889.35/897.15/894.95/889.75 Resistance:- 903.85/906.40/909.25/913.85

GOLD MCX LEVEL'S Support:- 12485/12465/12430/12405/12380 Resistance:- 12570/12600/12630/12650/12730

SILVER MCX LEVEL'S Support:- 2400/24300/24150 Resistance:- 24575/24685/24775/24920

Inflation

Inflation had been high since 18 months but government was declaring figures on the lower side. Inflation is nothing less than 20 to 25% in INDIA as of date

NIFTY Cracked

Now it is foregone conclusion that interest rates are going to go up and corporate profits will decline in several of the coming quarters. In this back ground it is reasonable to assume that NIFTY will sink to a level of 3600 as per the chart This however this can take 3 to 6 months time to find the level of 3600. At that level of 3600 nifty would have retracted 56% from the top 6367. In the past , in bear phase indices have retracted 56%.

Mcx Weekl Rec

WEEKLY recommendation GOLD BUY AT 888.20 S/L 879.90 TGT 909.95 & 923.35 SILVER BUY AT 16.99 S/L 16.76 TGT 17.57 & 17.94

Next Week (weak)

Next week also very volatile,weak world mkt,F&O expiery,Crude oil,Politics issue,Inflation.

21-Jun Mcx Close

21-June-08

SPOT CLOSE RATE:- GOLD-902.25 SILVER-17.41 CRUDE-134.78 INR-42.93 EUR-1.5627 GBP-1.9768 JPY-107.27