Thursday, January 10, 2013

10-01-13 copper-crude-cotton- updates

Today crude oil on the MCX is looking positive and running with a good support around 5076 and a strong resistance of 5143.  Global crude also showing a positive data, US crude oil stock is climbed around 2.4 million barrel last week. This week crude is expected to trade between 5040 and 5190 on the domestic market. Currently crude oil is moving positive and expected to go higher this week.  Yesterday crude oil is closed at 5106, and today opens at 5111. Demand in the crude is week in the Last week and expected to same in the first quarter this year.
Copper for February contract is trading positive in the early start, yesterday copper is closed at 447.40 on the MCX.  In the domestic market copper is fighting with a lower demand and supply. Whereas global copper position is very volatile in the market, today copper open at 447.60 and goes 0.75 point high at 10:52am.
This year cotton has lost its momentum there is a continue falling in the price of the cotton .yesterday cotton is closed at very low of 16430 and today also open at down side by -60 point. Cotton has affected by the lower demand in it global as well as domestic market. Today we may see more fall in the price of cotton.

Today calls

Sell cotton (31 Jan) below 16350 tgt 16340,  16330, 16310……sl 16420

SELL GOLD FEB BELOW 30745 TARGETS 30722 , 30697 , 30669 STOPLOSS 30788.

Sell copper  (28 feb) below 447.50  tgt 447 , 446.70, 446……… 449

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