Thursday 19 July 2012

MCX Commodity Tips And Trend For Today 19 July 2012

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Mcx Cooper Trend and updates :- Copper is expected to trade with positive momentum during the morning session on Thursday, 19 July at MCX. Copper was trading in range bound in July 2012 hovering between Rs. 432 per kg and Rs. 417 per kg. The concerns on the demand from the China, the major metal consumer and the festering European debt crisis still dogged out in the market led the red metal to trade in range bound. 

Aluminium mcx updates :- Aluminium buoyed by 0.5% or Rs. 0. 5 at Rs. 104.7 per kg on Wednesday, 18 July and tested an intraday high at Rs. 105 per kg and low at Rs. 104.1 per kg. Aluminium was in downtrend since June 2012 and ended tad higher on Wednesday bolstered by some bargain hunting with 12% dip in its open interest to 9809 lots. The contract traded below 9-day EMA and RSI stood at 42.07. Aluminium is likely to find support at Rs. 104.1 per kg and Rs. 103.6 per kg and resistance at Rs. 105.2 per kg and Rs. 105.5 per kg. 

Bullion Updates (Gold silver ) :- Gold Trend:- Gold prices are expected to trade within a broad range from 29100 to 29400. One can buy on dips around 29150 with a stop loss below 29050. Prices are expected to trade positive for the day. Silver trend:- Silver prices are likely to hold 52500 on closing basis, we can expect a bounce till 53400. One should buy around 52500 with a stop loss below 52000. 

Mcx tips For today :- Gold Aug Buy at 29150 -29120 for target of 29350 29400 with stop loss of 29050. 
MCX Lead July Buy at 104.50 – 104.60 for target of 105.80 106.20 with stop loss of 103.50. 

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