Commodity Market (MCX and NCDEX) Forecast for the Week (4th – 8th April ’11)

Silver:

For the next week in metals silver can be bullish above the level of 56200, as we saw last week comex silver was not sustaining at lower levels, and it has a very good level of 3800$, if comex silver sutains above 3780$ then above 3800$ it can touch the level of 3870$. In mcx silver i will recommend to take long position above the level of 56200 for the target of 57000 if it does not break the level of 55700 on the downside.

Chana:

For the next week in agri commodities chana can be bearish below the level of 2350. As we saw last week chana was not able to sustain at higher levels. So for the next week in chana april contract one should go for sell on higher level stratagy if it sustains below 2370 then below 2350 it can touch the level of 2310.