Thursday, 22 November 2012

Commodity Market News With NCDEX Trend Today

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NCDEX Trend Today :- Refined Soy oil Dec NCDEX: Prices traded higher from a low of 694.60 and later closed at 707.50 levels. As prices broke the major resistance zone of 704 levels yesterday, the trend turned bullish and expects a move towards 711 followed by 718 levels. Proportionate increase in volume will also required for such strong rallies. On the lower side, a break below 694 may see a sharp lower correction to 685 levels in the near term. 

Commodity Market News :- Copper prices are expected to trade within the range from 421 to 428. We have witnessed buying at lower level, one can buy if copper sustains above 425 for intraday.Crude price witnessed selling pressure from the resistance area at 4850 – 4860 and witnessed a selloff to the tune of 4793. For intraday one can sell if sustains below 4800. Price are expected to trade within the range from 4760 to 4860. 

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