Thursday, 4 April 2013

MCX Base Metal Updates Today |NCDEX Tips

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MCX Base Metal Updates :- After the deep red opening commodity market is trying to surged at positive bias.MCX Nickel breached Rs 900 per kg yesterday and moved sharply lower. The prices were at four month lows and settled at Rs 879 per kg, down almost 2%. Supports for the contract are at Rs 875 per kg while Resistance is at Rs 885. 

NCDEX Tips Today :- Soybean May NCDEX: Prices witnessed a sparkling rally and finally ended up tiresomely at 3765. As prices stabilized well above 3736, the present buying momentum might continue towards 3800/3845 levels if corresponding increase in volume supports. Though, daily RSI indicator is in overbought condition, cautious buying is recommended. Any break below 3580 could negate the present bullish view in the near term.


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