Bullion
On the MCX bullion continue it’s down trend and showing red
again on the Domestic market. Yellow metal showing red flag and today’s open at
30670 yesterday yellow metal is closed at 30758. Gold is expected to trade more
low on then MCX list. Gold for Feb contracts is on the lower side and expected
to trade with a high support level of 30452 and a resistance of 30950. While the
silver is for march contracts looking bearish today and goes more than -330
point of the MCX list. Today silver open at 59405 and from that position
continue falling, movement in the silver on the domestic market for today is
not too much high in the positive side. For today trading silver have a support
level of 58689 and a resistance of 60500.
Crude and copper
Crude for Jan contract open at red side today on the MCX, on
yesterday trading it is closed at 5181. The entire commodity on the MCX is now looking
in the position to sell. Crude continue its falling on the Domestic as well as
on the International market. On today trading crude is expected to trade in the
range of 5070-5200.
Copper for Feb contract is trading on negative side but some
positive movement expected from copper and base metal from the afternoon. Copper
open at 439.10, and touch a intraday low of 438 on Domestic market.
Cotton and Mentha oil
Cotton for the Jan contract expected to trade low on
domestic market, currently cotton position is showing downward direction from
its opening position. Today cotton open 20 point high from yesterday close at
16360. Mentha oil is MCX looking to recover to its position but low demand on
Domestic market give a strong competition to mentha oil. On the MCX it open at
1351.90 and touch a intraday high of 1352.some positive movement is expected
from mentha oil on the next session.
Today calls:-
Buy cotton above 16350 tgt 16370, 16400………….sl 16290
Buy gold above 30690 tgt 30740, 30800++……………sl 30485
Buy silver above 59400 tgt 59500, 59600……………sl 59123
Buy crude oil above 5170 tgt 5180, 5200……..sl 5120
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