BULLION OUTLOOK FOR 09-10 MARCH

Gold: We expect gold prices to trade sideways on the back of expectations for a U.S. interest rate hike. Gold Future is trading in negative zone and traders can hold short positions until Gold Future closes above 28919 levels. Traders can initiate short positions on every rise until Gold Future closes above 28919 levels

	R2	R1	S1		S2	TREND
GOLD	28750	28600	28500		28300	SIDEWAY

Silver: We expect silver prices to trade sideways on the back of short covering after sharp drop in prices. Silver is trading into negative zone and traders can short at every rise or hold short positions until Silver closes above 42290 levels. Traders can go long once Silver Future closes above 42290 levels.

	R2	R1	S1		S2	TREND
SILVER	41800	41500	41200		41000	SIDEWAY