Bullions: Gold is expected to witness further short covering in domestic markets tracking positive international markets. The precious metals saw bargain hunting buying interest following recent strong selling pressure.
Base Metals: Base metals may also remain in range. Copper can trade in range of 390-405 in MCX. Copper rose in New York after a report showed US housing starts rose last month, boosting the outlook for metals demand.
GOLD looks UP side Res of 28100/28130 and down sup of SUP OF 27900/740 ( SELL ON RISE or buy on decline for Res )
Silver LOOKS IF SUSTAIN THEN LOOKS TO 54540 AND SUP OF 53500/450/ THAT Below if sustain then looks weak 53140/53080
COPPER RES OF AND DONW SUP OF 393/389 ( BUY ON DECLINE )
Nickel has a good sup of 988 till it hold loks up 1006/1008/1012/1020
Crude if it comes around 5150/5155 can Remain buy with sl of 5120 below and up side looks to face Res of 5210
Spices: Turmeric futures may trade sideways carrying bearish sentiments from the spot markets. Spot turmeric at Erode decreased by Rs 200 a quintal and is selling below Rs 4,000 a Quintal.
Oilseeds: Domestic oilseeds may trade sideways in seasonal usage in edible oils and meals.
Other commodities: Kappas futures may trade sideways taking support above 750 levels. India cotton yarn export registrations stood at 76.362 million kg in November, 2011 almost 74% higher compared to October.
For More Just Fill The Free TRIAL FORM
Base Metals: Base metals may also remain in range. Copper can trade in range of 390-405 in MCX. Copper rose in New York after a report showed US housing starts rose last month, boosting the outlook for metals demand.
GOLD looks UP side Res of 28100/28130 and down sup of SUP OF 27900/740 ( SELL ON RISE or buy on decline for Res )
Silver LOOKS IF SUSTAIN THEN LOOKS TO 54540 AND SUP OF 53500/450/ THAT Below if sustain then looks weak 53140/53080
COPPER RES OF AND DONW SUP OF 393/389 ( BUY ON DECLINE )
Nickel has a good sup of 988 till it hold loks up 1006/1008/1012/1020
Crude if it comes around 5150/5155 can Remain buy with sl of 5120 below and up side looks to face Res of 5210
Spices: Turmeric futures may trade sideways carrying bearish sentiments from the spot markets. Spot turmeric at Erode decreased by Rs 200 a quintal and is selling below Rs 4,000 a Quintal.
Oilseeds: Domestic oilseeds may trade sideways in seasonal usage in edible oils and meals.
Other commodities: Kappas futures may trade sideways taking support above 750 levels. India cotton yarn export registrations stood at 76.362 million kg in November, 2011 almost 74% higher compared to October.
For More Just Fill The Free TRIAL FORM
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