Wednesday, 21 November 2012

NCDEX Commodity Updates |MCX Trend Today

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NCDEX Commodity Updates :- Pepper Dec NCDEX: Prices eased its previous day’s gains and closed at 39110 levels. Currently, a short covering rally is on progress but if unable to clear above 39500 could see selling pressure towards 38500 followed by 38000 levels. Meanwhile, RSI is extremely over sold and likely to upset the bearish momentum. On the higher side, a direct rise above 40000 could lift prices to 41000 levels in the near term. Support – 38900/ 37700 Resistance – 39500/ 40450. 

Refined Soy oil Dec NCDEX :- Though prices already broke the psychological resistance at 700 levels, sluggish volume is faltering further upside moves. Any how it has to clear 705.20 for a major rally. 

MCX Trend Today :- Gold prices tested 31869 on higher end and ended witnessed profit booking as resisting at 31850 – 31800. If prices remain below 31800 -31850 we expect prices to test 31500 – 31450 on lower end. 

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