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Wednesday, November 12, 2008

UPDATES ON NOV 12 2008

NOV 12 WEDNESDAY

SHORT TERM TREND : BEARISH

LONG TERM TREND: BEARISH

S1 RS 61.70 , S2 RS 60.40

R1 RS 64.60 , R2 RS 66

SELL AT RESISTENCE.

Lead was down $ 30 to $ 1280.

Lead prices can see further downside.

Analyst feel they can face intra day resistence

at $ 1370 / ton that is Rs 66/ kg in MCX Nov

contract and selling can be seen there.

Lead prices can take intraday support at $ 1318

per ton that is Rs 63.90 per kg in MCX and

recovery can be seen there.

Prices are expected to trade sideways to lower,



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