OCT 13 MONDAY
SHORT TERM TREND : BEARISH
LONG TERM TREND : BEARISH
S1 RS 71.40 , S2 RS 69.80
R1 RS 74 , R2 RS 75.60
SELL AT RESISTENCE LEVELS.
The grim global economic outllok kicked in by the
US Financial crisi may take a heavy toll on demand
for base metals such as Aluminium , Copper , Nickel
Lead and Zinc.
Despite shutdown of one of the three mines of
Yuguang Gold and Lead Co , China's top lead
producer , the global lead market was in surplus
of 23000 tonnes in the first seven months of this
year against a deficit of 37000 tonnes in the same
period last year.
Shutdown of the mine reduced supply by about
10,000 tonnes .
Lead may follow other metal complex in the down trend.
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