Tuesday, May 5, 2009

Market View for 5th May

Base metals momentum has turned positive and looks like they are all set to make new highs now. Zinc seems more attractive amongst all.

Crude as expected showed great momentum & still looks good for longs. Yesterday missed my 2nd target of 2700 by 7 rs and made a high of 2693. More to come...

Natural Gas blasted once again..If you remember we are long since 170+ levels. I have placed my support of Natural Gas as 174.4 & it bouced sharply from the same levels & given 10+ rs intraday.

We have seen a sudden spurt in Gold & Silver yesterday. Some good buying was seen in both the counters. A new trend is developing in them so till then wait n watch....Silver seems more attractive for longs as per current charts.

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