Monday, January 14, 2013

14-01-13 MCX commodity updates

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Bullion (gold and silver)
Today commodity market is open in a positive side, bullion behave good moment in the fresh morning. Silver is looking in the very good position to trade, its last close 58199 and today its open in at 58300, 101 point high to its previous close.  In the early trade silver up and touch a day high at 58460.  Silver gain a lead of 206 point at 10:31 am, it is expected that silver go higher today. If we talking about gold it’s still working in the green side, but the moment is not very high.  Dollar price is not capable to hold their position against Indian currency. Movement in the FOREX is very volatile and it affects the gold and other metal price in the domestic market.

Base Metal
In the fresh morning base metal is watched at positive side , copper for February contracts move with a green flag and looking  positive today on the MCX. Copper is expected to go higher on the remaining time. While nickel is holding trying to touch a target of 1000 this year, at took a step against it.  Nickel up by 1.50 point at 10:48 am, from its last close at 962.30. Meanwhile other metal like zinc, lead, aluminium also move little today.

Crude oil
Global crude price has gained a positive momentum .on the NYMEX was trading at $ 94.58 and it gains a 0.63%. On the MCX crude for January contacts trading positive, its previous close is 5136 and today it’s open at 5140. Crude is expected to trade in the range of 5100- 5200 for today trading session.

Cotton price is continuing its worst position day by day; cotton movement is regularly fallen on the Domestic market. Cotton down by 60 point at 11:00 am from its previous position at 16340. For January contract cotton is expected to trade low today on the MCX.

Today calls

Sell cotton (31 Jan) below 16280  tgt 16260,16240----……….sl  16350

Sell gold (5 feb) below 30790 tgt 30750,30700………………sl 30870

Sell crude oil  (21 Jan) below 5150 tgt 5140, 5130,5110………….sl 5200


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