MCX Copper Updates NCDEX Tips Today 1 March 2012

LME base metals bore the brunt of the broad based selling in the commodity complex. However, the downside in Copper was limited, underpinned by monetary injection by ECB and better GDP numbers on US front. On MCX front , Copper is in HOLD LONG position In short term Copper is in strong up trend so hold with stop at 418 The Copper is now trading in highly overbought level. The oscillator is showing SELL signal.

MCX Copper Support and Resistance :- Technically MCX copper has following support and resistance levels S3- 415.25 S2-  419 S1-422.25 R1- 428.75 R2- 432.25 R3- 436

NCDEX KAPAS TREND

As on Wednesday 29th February 2012 KAPAS1 closed @ 818.40 and we RECOMMEND Buy for LONG-TERM with STOPLOSS of 763.73 and Strong Sell for SHORT-TERM with STOPLOSS of 882.71 and we also expect COMMODITY to react on Following IMPORTANT LEVELS Today :-

Resistance 2	848.99
Resistance 1	836.39
Pivote	819.8
Support 1	800.42
Support 2	787.81

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MCX NCDEX Tips for Today

Chana NCDEX (Feb): The 3400 caps is expected to call for a negative session, a dip is expected towards 3252/3200. NCDEX Chana has been consolidating since september. Currently Chana is trading near the 40 WEMA which is a crucial support in the medium term.
NCDEX Guar seed (Feb): Choppy session is witnessed. For the short-term immediate support is at 11000/10000.
NCDEX Guar gum (Feb): Range bound market is likely to be in the range of 41710-37910 levels. Resistance: 41685 - 42245, Support: 38505 - 36605
MCX Mentha oil (Feb): Present technical pattern looks healthier and is expected to rise towards 1611/1651. On the downside reversal point is at 1500.

NCDEX Kapas (Apr): The Prices cleared the strong upside obstacle of 913 and triggered rallies. Now the pattern looks so bullish towards 959/986. On Wednesday, Kapas march contract closed at 912.88 and Kapas april contract was closed at 931.58. Traders are advised to buy Kapas (31 Mar) contract for long-term with a strict stop loss of 763.66 and can also buy for short-term with atop loss placed at 842.53. Buy Kapas (30 Apr) contract for long-term with a stop loss placed at 759.96 and can also buy for short-term with a stop loss placed at 849.20.
Technical Levels for Today
Kapas 31-Mar,'12:
Resistance- 952.93 - 936.42
Support: 889.34 - 872.83

Kapas 30-Apr,'12:
Resistance- 970.88 - 954.69
Support: 908.47 - 892.28

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MCX Commodities Technical Levels 14-Jan

Commodity	Contract	S2	S1	PP	R1	R2
GOLD	4-Feb'12	27265	27347	27475	27557	27685
	5-Apr'12	27575	27688	27831	27944	28087
28523
SILVER	5-Mar'12	51426	51706	52155	52435	52884
	5-May'12	52595	52823	53208	53436	53821
CRUDE OIL	19-Jan'12	4950	5018	5136	5204	5322
	20-Feb'12	5000	5059	5161	5221	5322
NAT GAS	25-Jan'12	135	137	140	142	144
	24-Feb'12	139	141	144	146	148
COPPER	29-Feb'12	408	412	417	421	426
	30-Apr'12	412	416	421	425	429
NICKEL	31-Jan'12	986	998	1012	1024	1038
	29-Feb'12	992	1004	1017	1029	1043
LEAD	31-Jan'12	103	104	105	106	107
	29-Feb'12	105	106	106	107	108
ZINC	31-Jan'12	100	101	102	103	104
	29-Feb'12	101	102	103	103	104
ALUMINIUM	31-Jan'12	109	110	111	112	113
	29-Feb'12	110	111	112	112	113

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NCDEX Chana and Pepper Trading Tips

NCDEX Chana (Jan) contract has completed the double bottom chart pattern on the daily chart and has been range bound at 3454 levels. The target according to the pattern is around 3699 levels. Traders can go for long positions on successful crossing the resistance level. Traders are advised to buy NCDEX Chana (Jan) Above 3353 for target of 3549 with a strict stop loss of 3275.

 

NCDEX Pepper (Jan) contract had broken the crucial support line in the last week and ended below the same. In this week some more downside is expected in it. Any pullback towards the support level and turned resistance line should be used to build short positions. Traders are advised to sell NCDEX Peeper (Jan) around 32498 for target of 30498 with a strict stop loss of 33498.

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