Thursday, 27 December 2012

MCX Base Metal And Commodity Market Updates Today

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Commodity Market Updates Today :- Commodity market start its trading session with volatile mood.MCX market is looking volatile to positive note trading.we expect precious metals to remain volatile as the investors are adopting a cautious approach as the US fiscal cliff issue remains unresolved yet while US lawmakers resume talks over the same which is nearing the deadline. Weakness in the DX is likely to support an upside in the gold prices. In the domestic markets, appreciation in the Rupee will exert downside pressure on the MCX precious metal. 

Mcx base Metal Updates :- mcx copper feb expiry future closed near 439 with also with gap down opening we seen lows near 436 while todays high was tomorrow if cross 441 then expect sharp short covering rally and upside target of 444-446.but below that remain in down trend. 

mcx nickel dec expiry future today closed at 950.5 with with gap down opening given fresh low of 945 and intraday high point was 954 and 960 are intraday resistances and still expect 940-928 on downside as trend is down. 

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