NCDEX TIPS ~ Chana,Kapas,Mentha Oil,Pepper,Jeera

KAPAS TREND (April) :- A short covering rally is on progress towards 975 levels. Kapas Trend is up. 

MENTHA OIL TREND (June) :- A strong support is visible at 1267 levels, and then a pullback rally is seen at 1400 levels.Trend is up.

CHANA TIPS :- Sideways trading anticipated for the day

NCDEX PEPPER TREND :- After a major rally witnessed last week, it went lower towards 37950 levels. Later, it recovered from there and is currently hovering at 39750 levels. We expect a pullback rally towards 30500 then 30700 levels. But, it is required to break above 41000 levels for the next major rally to re-emerge in the near term. Conversely, any break of below 37800 may see downside correction in the near term.

NCDEX JEERA (June) :- If prices break below 12700 then negative sentiments may be see towards 12500 levels.

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CRUDE UPDATES : COMMODITY MARKET TREND

Commodity market today i.e. on 24th may 2012 opened negative after a fall of 0.56% on Wednesday. It is currently trading higher by 3.03 points, or 0.08%, at 3,881.63 at 10.01 a.m. after opening at 3,876.11. 

Crude Updates says that for the first time since October, crude oil prices fell below the $90/bbl mark, indicating further downside risks as the supply-side scenario eases and as inventories continue to rise. Global economic risks have also widened and sentiments would not support the commodity above $90/bbl as markets prepare for further negativity. 

CRUDE TREND TODAY :- With fundamentals becoming weak amid a negative macroeconomic scenario, we expect the downtrend in crude oil prices to continue today. Additionally, latest data on the Chinese manufacturing front is also bearish and will add to further downside

CRUDE OIL SUPPORT AND RESISTANCE :- 

 MCX Crude June 2012 :- Support :- 5050/5014, Resistance :- 5138/519

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MCX NCDEX TRADING TIPS FOR TODAY 23 May 2012

MCX BULLION METAL UPDATES 

On the International market, gold - silver has declined strongly.Gold in the domestic market with strong light on Tuesday to Rs 29 086, while silver dropped half per cent to Rs 54 460. Positionally Support for the Gold is 28697-28517-28463-28444-28291-28212-. Immediate resistance for Gold is 29326. 

BASE METAL UPDATES 

Base metals will give you good upsides for the day. Best commodity to trade in is zinc. Zinc is good to buy at around Rs 105 per kilogram levels with a stop loss to be placed at Rs 104 per kilogram on downside and on intraday we expect prices to test levels of around Rs 106.20 per kilogram and above that Rs 107 per kilogram.

MCX COPPER TIPS 

We recommend buying MCX copper June contract around Rs 423.50 per kilogram with a stop loss of Rs 421 for a target of Rs 428 per kilogram.

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MCX COMMODITY TIPS ~ Gold Copper Crude Trend 21 May 2012

MCX GOLD TREND :- 

Gold is expected to trade on a weaker note today as concerns with respect to Greece ease, thus having an impact on safe-haven demand which had re-emerged last week. Silver on the other hand is expected to witness upside, on the back of upbeat global market sentiments. 

Gold Support and Resistance :- S3- 1565, S2- 1575, S1- 1585, R1- 1600, S2- 1610, S3- 1620 MCX 

CRUDE OIL TREND :- 

Crude oil prices are expected to trade on a positive note, taking cues from positive global market sentiments. With global leaders confirming the presence of Greece in the Euro Zone, market sentiments are expected to be upbeat.

Crude Oil Support and Resistance :- Support :- 4980/4950 Resistance :- 5030/5060 

MCX COPPER TREND :- 

Copper the leader of the base metals declined by 4.3 percent on the LME in last week on the back of re-emergence of European debt crisis, rise in risk aversion in global markets along with stronger dollar index. However further downside in prices was restricted on account of decline in LME and Shanghai Inventories by 0.1 % and 7.3 % respectively. 

MCX Copper Support and Resistance :- Support :- 418/416, Resistance :- 422/425

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NCDEX TIPS ~ Chana, Kapas, Mentha Oil, Soybean, Agri tips

CHANA TREND :- Chana in its hourly chart is trading in triangular formation, if it break 4200 level with volume it can test 4050 in coming session while if it hold 4200 level we can expect chana to bounce back from this level to 4295/4335 level while upside break is above 4350 level.

NCDEX JEERA TREND :- Jeera futures prices are projected to recover from earlier losses supported by prevailing firm trend on good demand from local traders and exporters. Arrivals season is also coming to an end therefore; arrivals might also start declining in coming days which might support the prices in medium term. Arrivals at spot market of Unjha were steady at 25,000 bags against 18,000 bags reported on Wednesday (1 bag- 60Kg.)

PEPPER TREND :- Pepper futures prices are projected to witness volatile movement du to lack of active trade participation. Buyers and sellers both are not interested in delivery through exchange due to newly introduced procedures. Some of the small growers are selling their produce at lower prices in want of money which might also weigh n prices. Indian parity in the international market was at $7,125 Per MT (c&f) Europe and $7,425 Per MT (c&f) USA. Demand in north Indian states is there but prevailing uncertainty about the prices trend is keeping sentiments week.

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GOLD UPDATES || MCX COMMODITY TIPS

GOLD UPDATES || TREND :- Spot gold rebounded as buyers rushed to snatch bargains after prices plunged to 4½ month low and the Euro staged a rally. Euro inched up yesterday after falling to a four month low earlier as few Greek banks faced some emergency funding needs.

MCX GOLD TRADING STRATEGIES :- 

Key levels for the day: 

Upside: Immediate 1565/1585/1596-1606/1620 then 1655. 

Downside immediate: 1515 followed by 1508/1480 long term 1390 

Buy above 1552 target 1570 SL 1540. 

Buy on dips to 1522 target 1545 SL below 1515. 

Buy above 1572 target 1596 SL 1544. 

Buy above 1608 target 1620 SL 1600. 

Buy above 1620 target 1630/1645 SL below 1605. 

Sell on rallies to 1572 target 1545 SL 1596. 

Sell below 1508 target 1480/1458 SL1545. 

Sell on pullbacks to 1606 target 1590 SL 1621.

Sell on pullbacks to 1630 target 1600 SL 1645. 

Broad selling pressure is in order as long as prices stay below 1560 but a corrective turn higher is expected the day.

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GOLD UPDATES ~ MCX TIPS FREE

MCX GOLD TREND :- Gold plunged the most in 2-weeks, as the European Central Bank refrained from providing more stimulus measures after a meeting in Barcelona, easing concern that inflation will accelerate. Silver also retreated. Gold and silver are expected to trade lower today taking cues from strength in the US dollar index and mixed market sentiments. Silver will also take cues from movement in base metals. US non-farm employment change is expected to be on a negative note today and if the data come as expected then this will lead to further downside in prices. However, a weaker Rupee may cushion sharp decline on the domestic bourses. 

MCX COMMODITY TRADING ADVICES :- 

MCX Crude Oil (May futures): Sell - 5580, stoploss of Rs - 5630 and the target - 5490 

MCX Silver (July futures): Buy - 56 150, stoploss of Rs - 56000 and target - 57 200

MCX Copper (June futures): Sell - 447, stoploss of Rs - 450 Target - 441

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