Thursday, February 28, 2013

27-02-13 commodity tips and Union budget affect on commodity market

Today commodity market are showing bearish trend, on MCX. Bullion is open on negative side and falling down from that position. No positive movement is expected from gold and silver.  UNION Budget is going of open today and Mr. P Chidambaram going to announce it.  Let’s see what change they made on UNION budget on 2013-14.

Costs on silver jewelry are going too reduced. On MCX   from morning silver price are drop down by -550 and more negative movement is expected before budget declaration. While yellow metal is also supporting white metal and showing red flag from morning.

Buy gold above 29900 tgt 29950, 30000,30100……29700
Buy silver above 54000 tgt 54150, 54250, 54400…………sl 53600

Crude oil is moving between the ranges   4980-5006, some positive movement is expected from crude in evening session.

Buy crude oil above 5010 tgt 5020, 5030,5050……………sl 4970

Today trading tips

Sell copper below 421 tgt 420, 418, 415…………sl 427
Sell nickel below 893 tgt 890, 885, 880…… 996
Sell mentha oil  below 1450 tgt 1445, 1440, 1430……..1470
Buy cotton above 17880 tgt 17900, 17920, 17950…….sl 17810


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