Today commodities are looking in a good swing, on multi commodity exchange bullion are open on green side. On MCX future gold for June delivery opens on positive side at 26184 against its previous close 26047. On intraday market yellow metal are looking bullish for today with a support level of 25950, 25800 and a resistance of 26400, 26550.
Silver also follow a good trend on multi commodity exchange, today it open at 43550 from its last close 43423. MCX silver for May delivery are showing a bullish trend on intraday market and expected some good move on today session. On the early trade silver touch an intraday high of 43901 with a low of 43549. Silver is bearish for medium long term, for intraday trading resistance for silver is 43900, 44500 and a support level is 43000, 42500.
On domestic market crude again jump in good side, crude for future delivery roses up by more than +40 point on early trading on Monday. On MCX crude for May delivery open at 4785 from its last close 4776. On Asian market crude oil prices are roses and its positive impact had seen on domestic market too. New York light sweet crude gain 29 cent on May delivery to $ 88.30. On MCX crude oil are looking bullish for today trading and expecting some volatility on trading.
Base metal are on trading on positive side excepted copper, due to china and US market copper on domestic market are trading on negative side. China economic condition had down in the first quarter and US slowing growth rate turn copper to bearish market. On MCX copper and nickel open at down side, copper for April delivery open at 374.50 and falling from that position and touches an intraday low of 372.70. On other hand nickel open at 919.40 against its previous close at 821.10. On intraday market nickel has good support ad it touches and high of 823.60 with a low of 818.30. Nickel, lead, zinc and aluminum all are on green side and expecting to trade low and positive today, while some negative movement might be seen around 3 pm.
Mentha oil is on positive side today on early morning in open at 1005 against its last close at 998.40. Mentha oil for April delivery are looking bearish and experience a good swing today, on intraday it touches a high of 1015 and low of 1001.10.
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Today MCX call
BUY GOLD JUNE ABOVE 26280 TGT 26340, 26400, 26450 STOPLOSS 26050
BUY SILVER MAY ABOVE 43800 TGT 43900, 44000, 44100 STOPLOSS 43500
BUY CRUDE OIL MAY ABOVE 4820 TGT 4830, 4840, 4850 STOPLOSS 4790
SELL COPPER APRIL BELOW 372.50 TGT 370.50, 368.50, 365.50 STOPLOSS 379.50
BUY MENTHA OIL APRIL ABOVE 1007 TGT 1010, 1020, 1037……………STOPLOSS 977