Commodities continue falling on the MCX after the average early trading session. Yellow metal is moving around 30900 and expected to go more in downwards direction. Today gold movement is very volatile from the opening of the day. While some positive movement had seen in the white metal in the morning trading .Currently silver is moving with on the red side near about 59324. Currently silver lost support level and expected to go more in deep red side. Some positive movement is expected near 3:30pm in yellow metal.
ALL Base metal showing a red flag today, there is continuing falling in copper, nickel and lead. Nickel is expected to trade low in the down side with a support level of 945 and resistance of 968.
On the MCX, cotton for Jan contracts continue its positive movement and crosses the number of 16300 in the trade. Cotton behave volatile on the MCX, there is lots of unexpected change we saw from the starting of the year.
Mentha oil is on the green side; in the morning trading session mentha oil is working with the red sign. Mentha oil for Jan contracts I supposed to go higher in the left trading session and expected to touch 1360
Sell natural gas (28 JAN) below 187 tgt 186, 185,184…………sl 195
Sell lead (31 JAN) below 123.95 tgt 123.50,123,…………125.80
Buy cotton above 16340 tgt 16350, 16360…16370………16280