Tuesday, 16 October 2012

MCX NCDEX Commodity Tips Today : Market updates

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Bullion Trend And Updates Today :- Bullion metal is expecting to trade with negative bias as positive US retail sales data have raised fears among participants about the stimulus measures to be discontinued. However, firm global market sentiments along with weakness in the DX might cushion sharp fall in the prices. In the domestic markets appreciation in the Indian rupee will cushion sharp fall in the precious metals on the MCX. MCX Gold December support - 30870/30760 Resistance – 31070/31170. MCX Silver December Support - 59500/59100 Resistance – 60200/60600. 

Crude Oil Updates Today :- Crude oil prices to trade on bearish note owing to sufficient supplies and weaker demand. Further, strength in the DX might exert downside pressure on the crude oil prices. However, weakness in the DX along with upbeat market sentiments might cushion sharp fall in the crude oil prices. On the domestic front appreciation in the Indian Rupee will exert downside in the crude oil prices on the MCX. MCX Crude October Support- 4770/4730 Resistance – 4870/4920.

 NCDEX Updates :- Jeera Nov NCDEX: Prices continued to head upwards and later the day closed at 15450 levels. A major resistance is seen at 15500, voluminous breakout of which could bring out a prolongation of rally targeting towards 15750 followed by 15900 levels. However, any trades below 14750 could see a profit booking till 14200 levels. 

MCX Gold Tips Today :- Sell below 30900, Stop loss 30970, Target 30820. 
NCDEX Chana Tips :- Chana Nov Sell 4830-40 for target of 4770 - 4740 with stop loss of 4900. 

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