Thursday, May 9, 2013

Evening commodity Base metal trend and Intraday trading tips for 09/05/13

Base metals trading with a mixed reaction, on Thursday morning MCX copper open at 402.90 bit down against its last close at 403.95. Currently copper price are on reverse movement, today on MCX for June delivery it touch an intraday high of 403.75 with a low of copper price also floating with an unstable position.
 MCX nickel moving on upper side after a slow start for May delivery, on intraday trade it   touches a high of 839.20 with a low of 828.40. For today trading nickel prices are expecting to trade bit positive in evening session.
Lead for May delivery showing sluggish movements on intraday trade at MCX, on MCX lead prices are open at downside form its yesterday close and open at 111.05. Some correction might be seen around 7 pm.
Not so much movement had seen in Zinc and aluminum before a week, day by day prices are falling down on domestic market in physical buying. On MCX today zinc prices open at 101.45 for May delivery with an intraday high of 101.85 and low of 101.most metal are behaving rude with a support red flag but many analysts believing supporting some good correction in upcoming weeks.
MCX gold prices this week support a good show, regularly showing a correction on its position. Today on MCX yellow metal open at green side with a +74 point against its yesterday close. On intraday market it touches a high level of 27188 with a low of 27087. Silver price also raise continuously, on early trade today silver prices jumping more than +400 point. Today Silver for July delivery opens at 45094 with a high of 45418 with a low of 45094.More correction is expecting from bullion on evening trading with a high jump.

 Today MCX calls

BUY GOLD JUNE ABOVE 27200 TGT 27250, 27300, 27350………..STOPLOSS 27050
BUY SILVER JULY ABOVE 45350 TGT 45400 45500, 45600…………STOPLOSS 45100
BUY NICKEL MAY ABOVE 835.50 TGT 836.50, 838.50. 340.50….STOPLOSS 830.50


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