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Friday, October 3, 2008

UPDATES ON OCT 3 2008

OCT 3 FRIDAY

SHORT TERM TREND : BEARISH

LONG TERM TREND : BEARISH

S1 RS 77.40 , S2 RS 75.80

R1 RS 79.60 , R2 RS 82.20

STAY SHORT AT RESISTENCE.

Zinc fell to a near three-year low.

Major commodity indexes suffered double-digit declines in

percentage termslast month, as the financial crisis

triggered falls across the commodity spectrum.

A firmer U.S. currency also weighed, making dollar-priced

commodities more expensive for holders of other currencies.

Zinc closed at a trough of $1,580 a tonne, the lowest level since

Nov. 2005 and down 5.3 percent against $1,668.

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