MCX Commodity Updates ~ Gold,Silver,Copper,Crude Tips

MCX GOLD TREND :- Spot gold prices declined around 0.4 percent on Thursday on the back of a stronger dollar coupled with choppy sentiments in the global markets. Additionally, fall in crude oil prices also affected the inflation-led demand for gold yesterday. The yellow metal touched an intra-day low of $1627/oz and  ended its trading session at the level of $1642/oz  on Thursday.  However,  MCX Gold April contract  rose around 0.2 percent  on account of a weaker Rupee and hit an intra-day high of Rs27,937/10 gms yesterday

MCX CRUDE OIL TREND :- Nymex crude oil prices declined  sharply around 1.8 percent  on Thursday on the back of unfavorable economic data from the Euro one front and China. This increased worries over global economic growth and in turn escalated global oil demand concerns which also acted as a negative factor for oil prices. Crude oil prices touched an intra-day low of $104.50/bbl and closed at $105.40/bbl in yesterday’s trading session. On the MCX, oil prices declined by 0.5 percent and closed at Rs. 5418/bbl after touching an intra-day low of Rs.5401/bbl on Thursday.

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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 Kapas Outlook and Reports

Yesterday, Kapas (March) contract closed at 853.39 and Kapas (April) contract closed at 867.68. For Today, traders are advised to buy Kapas (Mar) for long-term with stop loss placed at 760.79 and Sell for short-term with stop loss placed at 857.64. And buy Kapas (Apr) for long-term with strict stop loss placed at 763.01 and can also buy for short-term with stop loss placed at 865.72.

Technical Levels:
Kapas March, '12-
Resistance: 881.94 - 870.18.
Support1- 824.84 - 836.60.

Kapas April, '12-
Resistance2- 899.12 - 886.17.
Support1- 836.26 - 849.21.

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MCX NCDEX Kapas Reports

On Thursday, Kapas (March) contract closed at 904.48 and Kapas (April) Contract closed at 924.08. Recommendation for today, buy Kapas (Mar) contract for long-term with stop loss placed at 830.46 and buy for short-term with stop loss of 846.02. Buy Kapas (April) contract for long-term with stop loss placed at 805.42 and Buy for short-term with stop loss at 852.96.
 
Technical Levels:
Kapas March, '12-
Resistance: 931.36 - 920.29.
Support1- 888.68 - 877.60.

Kapas April, '12-
Resistance2- 951.89 - 940.43.
Support1- 907.73 - 896.27.

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NCDEX Commodities Technical Levels

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MCX NCDEX Kapas, Chana Tips: Outlook and Reports

Kapas

On Wednesday, Kapas closed at 921.38, traders are advised to Buy Kapas (Mar) for long-term with stop loss placed at 772.45 and can also buy for short-term with stop loss placed at 809.42.
Kapas March, '12:-
Resistance2- 951.04, Resistance1- 938.82, Pivote Point 928.11
Support1- 903.94, Support2- 891.72.

Kapas April, '12:-
Resistance2- 972.05, Resistance1- 957.76, Pivote Point 943.6
Support1- 917.0, Support2- 902.71.

Chana
On Wednesday, Chana (Feb) closed at 3229. For Today, traders are advised to buy Chana (Feb) contract for long-term with stop loss placed at 3007.60 and can also sell for short-term with stop loss placed at 3307.12.

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