Tuesday, January 8, 2013

MCX commodity news and tips

Precious metal
Silver price on the MCX is on very good position to trade; it is looking positive on the market. Silver is ranging a high modification due to the strong gain in the Comex of 0.44%. On the MCX silver for March contract is trading with a green flag with a hike of 273 point at 10:31am from its previous close. Similarly yellow metal also trading positive on the MCX but the moment is not very high. There is a little increment in the position of gold. Gold goes 85 point from its last close at 10:35 am.

Base metal
Base metal is looking positive today the moment in showing a green flag on the MCX. If we talking about the copper, changes its position by 1.30 point from its last position and looking in good position today. While the nickel holds is position towards the green side and goes 3.50 point high to its last position. Today market is looking very volatile and I expected that I it very difficult for base metal to hold their position.

Crude and Mentha oil
Crude oil is Jan contract is moving with a positive side, it is expected to trade flat position today and can see a positive movement in the crude oil. Crude is trading positive on the Tuesday morning with a gain of 19 point to its last close at 10:47 am. Meanwhile the Mentha oil is very  risky today to trade, on the MCX Mentha oil is open towards the down side but immediately it gain a good move a touch a intraday high of 1431070 and again loss its position and traded at 1426.30 .

Now the cotton grab their position in the market as compare to its last week where cotton is very unconscious but I this week cotton in the good move and hoping to touch a target of 16600 in this month. Currently cotton is ranging between 16350 to 16530. Today cotton is looking a good move to trade in it if you are an intraday trader.

Today  buy calls

Buy cotton(31 Jan) above 16450 tgt 16480, 16500……..sl 16400

Buy gold (5 feb) above 30940 tgt 30100, 30200,30300………..sl 30700

Sell crude oil (21 jan) below  5160 tgt 5145, 5130………..sl 5200

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