India is going to reduce crude oil import by more than 50% by 2020 said by minister of petroleum and gas Dr. M Veerappa Moliy. India crude production house in increase day by day and it is good news for domestic market. It is expected that India become self independent by 2030 I crude and gas. Today on MCX crude oil for open at 5115 slightly high from its last close. On intraday it touches a high of 5129 some more increment is expected in evening trading session. Mcx crude oil price have a support level of 5090 with a resistance level of 5170.
Buy crude oil above 5125 tgt 5135, 5145, 5160…………..sl 5090
Cyprus data raised the foreign share market but its causes in negative mark at Indian commodity market. Both gold and silver are trading on negative side .Mcx bullion are trading bearish today, form morning no positive movement had seen in yellow metal. On early morning it opens at 29680 with a same intraday high and low of 29542. Gold for 5 April delivery falling by more than -150 point on Mcx. some correction are expecting in evening time. Mcx silver open bit positive and moving towards green side but due to lower support level it falling down in red side. Mcx silver for may delivery on intraday touches a high of 54249 with a low of 54030.
Sell gold below 29540 tgt 29510, 29460, 29440…….sl 29640
Sell silver below 54050 tgt 54000, 53950, 53850…………54250
MCX Base metal are traded low from negative, mcx copper for April delivery open at 419 ,on intraday it touches a high of 419.25 with a low of 415.90. It is expected to go more deep with a support of negative side. Zinc, lead and aluminum are expected to fall more down on MCX. Nickel is bearish on Mcx for 28 march.
Sell nickel below 924 tgt 922, 920, 915…………sl 933
Sell copper below 417 tgt 415, 413, 411…….sl 423
Mcx Commodity call for today
Buy cotton above 18300 tgt 18330, 18350, 18380…………..sl 18220
Sell mentha oil below 1080 tgt 1078, 1075-----…………….. 1130