Crude oil in
the global market is hold a strong position in the last week, but starting of
the crude this week is not very high the movement is very low in the global market,
where as on the Saturday close MCX crude oil for January contract is closed
on the red side. Currently on the fresh morning MCX crude is open
with down side flag by 3 point to its last close at 5123. Its current price is
5114 at 10:33 am, on the MCX for 21 Jan contract. Crude oil is traded with the
red flag down by 10 point, movement is not very excited in the early trade but
expected to go high in the next session.
If we go
towards the bullion its movement is looking positive today, gold is moving towards
to touch a line of 31000 for 5 February contract where as white metal is 59000.
Today bullion has a very good support for gold support level is 30680 and a
resistance of 31402 , meanwhile silver is looking volatile the movement is
unexpected today support level for is 57300 and a resistance of 58800. Both the
commodity are open high to its last close gold is open 57 point high to its
previous close at 30907 and silver is open at 58200 214 point high to its last
close.
Today the movement
of cotton gives some warm in the cold day, after the last worst week cotton is traded
positive to its opening at 16350. Currently cotton is on the green side but the
movement is not expected to more green. Cotton is expected to trade low day and
trading between 16250- 16480.
Today calls
Sell crude
oil (21 jan) below 5115 tgt 5105, 5090, ………….sl
5150
Sell cotton
(31 jan) below 16360 tgt 16340, 16320…………..sl 16420
Buy silver (5 mar) above 58250 tgt 58300, 58400, 58500……sl
57900
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