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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