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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