Wednesday, January 30, 2013

29-01-13 Morning commodity market tips

On the MCX copper open slightly down and expected some positive movement during this week. Copper open at 438.30 and starting falling from that position and touch an intraday low of 437.75.

Sell copper (28 Feb.) below 438 tgt 437.70, 437.20,436……… 440

This year cotton market is looking very hot from starting of the year, cotton continuously showing its vary shade on MCX. Yesterday cotton close at 16310 but today open at 60 point high that shows how much movement is going to show. For intraday trader it’s better to buy cotton today.

Buy cotton (31Jan) above 16390 tgt 13400, 16410, 16425…………sl 16310

On the MCX silver is showing positive flag but day by day it’s losing position. Today silver open at 57795 and touch an intraday high of 58006. Currently silver is in good position and its chances to go high more in future.

Buy silver (5Mar) above 57950 tgt 58000, 58050, 58100, 58200……… 57600

Gold market is looking dull today, government continuously trying to increases import duty on gold and its demand affected due to this. On the FOREX India currency giving a tough competition of US dollar that will changes gold position on Asian Market.

Buy gold ( 5 Feb) above  30370 tgt 30400, 30430,3050……sl 30200.

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