Tuesday, November 27, 2012

mcx commodity trading tips

Today commodity market is moving with a slow movement, the entire commodity is trading is positive but the movement is very slow. Bullion market is very volatile today, silver price on MCX trading touch a high of 64133 with a day low of 63820.yesterday silver is closed at 63734,and its go 155 point high at 1.28 pm. While the yellow metal is breaking today not an enough move in the morning as compare to last week. Yesterday gold is closed at 32359 today its goes only 9 point high at 1.31 pm with a high of 32453. While talking about cotton market, Indian government not placed any ban for cotton export in this season of 2012-2013 according to the report of cotton advisory board (CAB). In the global market cotton price is decline due to the overstocking and lower global mill demand in the previous cotton season. On the MCX trading cotton is trading with positive sign with a rise of 50 point to its previous close. India cotton export is the highest in the 2011-2012 of 129 bales which is highest ever. Indian government increase the export duty on iron ore from 20% to 30%.the government has a proposal to ban export of iron ore according to the Indian Minister of mine.
Today’s calls:-

Buy cotton tgt 16260..16270……..16275………..sl 16230

Buy crude tgt 4930….4940….sl 4890

Buy silver tgt 63910…….63950…….64000……….sl 63400

today silver is going in the down position after the morning good jump. yellow metals also favoring the silver.silver current price is 63555 at   5.01 pm and is in buying position similarly  gold is also in the position to buy. while the base metal also not showing a good movement except cotton ,cotton is on the great position to buy.


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