Friday, 2 November 2012

NCDEX Trend | MCX Commodity Tips Today

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NCDEX Trend Today :- Pepper Nov NCDEX: Prices initialy traded lower making a low of 42400, recovered and settled the day at 42800 levels. If prices sustain to trade below 43000 with volume, then expect a downside correction towards 42500 followed by 42300 or even lower to 42000 levels. In the mean time, it is very well required to trade above 43500 for the trend to remain bullish in the near term. 

MCX Tips Updates Today :- In today's session we expect precious metals to trade on a bearish note as investors are following a wait and watch stance ahead of the unemployment rate from the U.S. today and elections in the U.S in the next week. However, strength in the DX along with mixed global market sentiments is expected to cap sharp gains in the precious metals. In the domestic market appreciation in the Indian rupee is expected to support an upside in the precious metals on MCX. 

MCX Crude Oil Trend :- In the intra-day, we expect crude oil prices to trade on a negative bias on the mixed global market sentiments along with strength in the DX. However, unexpected decline in the crude oil inventories are expected to cushion sharp fall in the prices. In the domestic markets appreciation in the Indian rupee is expected to exert downside pressure in the MCX crude oil prices. 

MCX Tips Today :- Copper (Nov) Sell 424-425 for target of 422 - 419 with stop loss of 426.

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