Mcx commodity market traded sluggish, No heavy movements seen in morning session. Mcx overall trend of gold is bearish today currently gold is in strong downtrend with positive side, but the index is showing sell signal.
Positionally Immediate support for Gold is 26683 , Resistance for the Gold is 27452-27639-27698.
All basemetal at mcx is trading down with lazy market . Mcx copper is in long term bull phase, Now copper is moving in sideways trend , in last few weeks volatility is less in copper.
Mcx copper sell 426-427 targets 421-420 stoploss 430
Mcx crude oil is in perfect down trend, Crude oil traded down more than 1% at 5572.
Mcx crude oil sell 5700-5710 targets 5620/5610 stoploss 5750
Mcx crude oil sell 5700 with a targets 5580 and the stoploss 5760
Mcx natural gas buy 234 with a targets 240 and the stoploss 230
Ncdex dhaniya sell 11500 with a targets 11300 and the stoploss 11610
Today mcx commodity market and stock market opened mixed today, Mcx Bullion metal traded above side Mcx gold future contract traded above 0.11% or rs 30 at 27408.today gold made intraday high of 27480 and intraday low of 27402. silver rate traded above rs 200 open at 42070 in noon session touched intraday high of 42376 and intraday low of 42070.Crude oil is in under pressure, sell crude oil today.
Intraday Resistance of GOLD are 27490.2 : 27583.3 : 27626.8
Intraday Support of GOLD are 27265.8 : 27172.7 : 27130.4
Indian stock market updates–Indian stock market is in perfect uptrend, Both Nifty and sensex traded positive side. Sensex jumping 194.05 pts or 0.74% to 27226.90 and the nifty rising 60.25pts or 0.75% at 8147.50.shares of asian paints, ambuja cements, Grasim, jindal steel, traded above 2-4%.
At the multi commodity exchange, Gold and silver for future contract down. Lower level of gold in the international market had touched the last 3 months. 1260 gold dollar in early trade after sliding down currently is trading with mild gains.
Yesterday the dollar gained after the ECB’s decision. Such is the pressure on gold.Now gold is trading at 27400 down 0.22% Gold open at 27406 from its previous close. It touched intraday high of 27440 and intraday low of 27361.
NCDEX soybean prices have dropped down to Rs 3200. Soybean prices continued to fall. Madhya Pradesh, Rajasthan, Maharashtra and Gujarat, including oilseeds yields from rain in many parts of north India is estimated to grow. Since October sowing of mustard can also benefit from this season.
Mcx gold sell 27425 targets 27347/27297/27247 stoploss 27500
mcx crude oil buy 5710 targets 5820 stoploss 5670
Mcx natural gas buy 231 targets 235 stoploss 228
On mcx commodity all energies are trading low side, Mcx crude oil is showing continue its worst side in monday morning. Today it open at 5821 and touched a low of 5817. In energies mentha oil and natural gas is also trading in bearish side if we talk about mentha oil open at 690 now mentha oil is trading down more than 1% It touched intraday high of 690 and intraday low of 688.Similar trend also seeing in natural gas future delivery which touches low of 245.40 and the intraday high of 246.10.
At mcx india bullion prices looks to trade bearish, Today a high negative movement had seen in gold and silver. Mcx gold october future contract traded at 27923 with negative side prices rs -73 while silver future contract traded down with price -112 at 42143.
Mcx silver buy 42130 target 42238/42338/42448 stoploss 41800
Mcx copper sell 431 target 425/ 424 stoploss 434
Mcx indian commodity market started in green shed, Both precious metal is trading positive side. Durables goods orders and consumer confidence figures in America today are coming. API inventory data will be released today as well. Earlier in the crude oil business is extremely weak. While gold is trading at its lowest in the past 2 months. Silver less Stressed. Although today is the strengthening of the rupee against the dollar.
MCX Gold October futures trading at Rs 27 859 with 0.32% while silver remains at Rs 42 128 with 0.39%.
September futures crude oil remains at Rs 5696 with 0.21% while Natural gas September futures climbed trading at Rs 241.80 with 0.17%. .
September futures on NCDEX Jeera is flat and is trading at Rs 11 085. The September futures on NCDEX soy oil with 0.3% at Rs 619.
Intraday Resistance of JEERA are 11195.2 : 11286.7 : 11246.8 : 11268.9
Intraday Support of JEERA are 10974.8 : 10883.3 : 10930.9 : 10909.2
Mcx commodity market continue in down trend, both precious metal is moving to down side. A huge decline had seen in gold is trading now 229 pts down to 27991 it made intraday high of 28161 and intraday low of 27965. The decline in crude oil has increased MCX crude oil is trading below Rs 5700.
If we talk about stock market close flat note ,But Nifty and sensex both closed up. Sensex was up 15.80 pts or 0.20% to 7891.10 led by gains Bajaj auto, bank of baroda, Bpcl, SBI. While nifty ended a bit lower than 7900 up 15.80 pts at 7891.00
Bank Nifty advanced over a percent as top lenders like Punjab National Bank, Bank of Baroda, Kotak Mahindra Bank, State Bank of India, Axis Bank and HDFC Bank gained 1-3%.
MCX COMMODITY TRADING CALLS
Gold:- Mcx gold october contract sell below 28550 targets 28600/28550/28500 stoploss 28650
Silver:- mcx silver september contract sell below 43900 targets 43950/43850/43750 stoploss 44200
Crude oil:- mcx crudeoil august contract sell 5980 tragets 5950//5930/5910 stoploss 6040
Natural gas:- mcx natural gas august contract buy above 242 targets 244/245/246 stoploss 239
Mcx copper:- mcx copper august contract buy 431 targets 432/433/434 stoploss 429