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MCX NCDEX TIPS TODAY:-(MCX), COMDEX opened on a negative terrain after a rise of 0.09% on Monday.And currently all sectors trading at lower end at red zone.Gold is expected to witness some selling pressure at current levels. Gold held steady on Tuesday, with prices stuck in a narrow USD 15 range over three sessions.Copper: MCX Copper may trade sideways amid lack of cues from international markets. LME is shut today on account of Christmas Holiday. Prices may come under pressure amid persistent worries over Euro Zone debt crisis.
MCX Aluminum may trade sideways amid lack of cues from international markets. Prices may seek support from higher can celled warrants ratio at LME however record high stocks at LME warehouses may capo the upside.
Zinc: MCX Zinc may trade sideways amid lack of cues from international markets. Prices may however be under amid recent gain in stocks at LME warehouses.
Nickel: MCX Nickel may trade sideways amid lack of cues from international markets. Prices may seek support from lower stocks at LME warehouses.
Lead: MCX Lead may trade sideways amid lack of cues from international markets.
Base metals may trade sideways with weak bias along with crude oil as selling pressure can be witnessed at current levels.
MCX Aluminum may trade sideways amid lack of cues from international markets. Prices may seek support from higher can celled warrants ratio at LME however record high stocks at LME warehouses may capo the upside.
Zinc: MCX Zinc may trade sideways amid lack of cues from international markets. Prices may however be under amid recent gain in stocks at LME warehouses.
Nickel: MCX Nickel may trade sideways amid lack of cues from international markets. Prices may seek support from lower stocks at LME warehouses.
Lead: MCX Lead may trade sideways amid lack of cues from international markets.
Base metals may trade sideways with weak bias along with crude oil as selling pressure can be witnessed at current levels.
AGRI TIPS TODAY|NCDEX TIPS-Steel: NCDEX Steel may trade sideways with a positive bias amid mixed global cues and tightness in physical markets. Support for NCDEX Steel January contract is seen at Rs.32,400 while resistance is seen at Rs.32,900.
Pepper futures may trade with upside bias due to higher demand from spot markets. New crop arrivals started slow in Kochi market and are only expected to pick up in the first week of January.
Turmeric prices may increase due to lower level buying. Market participants were expecting that demand may increase in coming days at lower price level.
Jeera futures may trade with positive bias. Cardamom prices may continue to downside due to sluggish trade in auction markets.
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