09/12/13 Commodity gold silver tips| Monday gold support and resistance| election result effect on Commodity and Share market
Today bullion price trading in bearish side, in gold and silver breakout are not seen in bullish side a strong resistance are look near 29220 for February contract. However if we watched silver for march delivery a heavy fall are seen on opening on Friday trading was 44461, in downside silver touch a level of 43925.
on evening trading bullion market expected to recover in positive side, gold prices hope to cover up around 29150 and if gold break a level of 29220 then buy gold with a target of 29350.
on deep silver touch a low of 43925 so if silver comes to break out of resistance 44400 then buy with a target of 44650. wait for a level to break on high side.
Buy gold feb above 29150 tgt 29190/ 29240/ 29350 sl 29010
buy silver mar above 44400 tgt 44460/ 44550/ 44700 sl 44190
Today in NCDEX a heavy round back negative session is watched, on Thursday coriander price open at 7525 against its last close of 7519. in today session small declined were seen in morning trade while some correction in watched in mid hour , on downside coriander fall and touch a low of 7470. In today trade coriander price expected to trail between 7450 to 7580.
a heavy demand run chilli prices in safe side with a volume and movement, chili for running contract surge 2.50% on intraday trading. A good buying are looking in NCDEX due to domestic demand and expected to around 6730 in today trade.
If we watch out jeera price in NCDEX for December contract trading consolidate above 12400, in today remaining session market jeera look to 12430 while might be some correction on Closing of day.
SELL NATURAL GAS DEC BELOW 246.50 TGT 246/ 245.40/ 244 SL 248
SELL NICKEL DEC BELOW 858.50 TGT 857/ 854/ 850 SL 864
BUY MENTHA OIL DEC ABOVE 867 TGT 870/ 873/ 976 SL 862
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Market showing a positive sign in domestic market , today a good move has seen in Crude oil prices after open at 6030. on yesterday trading a positive move were seen and crude closes to 6014.in today MCX trade Crude oil looking over to 6100 per barrel.
Gold prices gain +69 point to 29131 at Mcx and expected to trade volatile in remaining session , a solid position is not yet seen in yellow metal due to low demand and depreciation in Dollar at Inter bank Foreign Exchange.
Lead for future delivery in Mcx down by 0.35% to 128.30 , on evening session some correction towards upside is looking. However nickel , copper and zinc are also in negative side looking bearish trade but on evening correction is looking at MCX.
Buy mentha oil dec above 864.50 tgt 866/ 868/ 871 sl 862
buy copper fec above 444.50 tgt 445.50/ 446.50/ 448 sl 441
buy nickel dec above 843 tgt 845/ 848/ 851 sl 838
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Rupees correct sharply on Forex trading in Monday trade, Rupees gain 12 paise to US dollar and closes to 62.32 rupees continuously making a correction in Forex trading that result Indian share market in positive side. Today BSE sensex trading at 20898.01 by gain 106.08 point while Nifty ups by 41.75 point to 6217.85.
Mentha oil get jump form starting of session in future delivery for December trading positive and expected to move positive on evening session. Mentha oil expected to move over 875 in evening session at MCX.
Copper for delivery in February trading negative in MCX around 447 and expected small correction in Dollar gain some point before closing in Forex.
However nickel prices to move over 840 and expected more fall in evening trade around 835.
sell copper feb below 447 tgt 446, 444 , 4432 sl 450.50
sell nickel dec below 841.50 tgt 839, 836, 833 sl 846
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Today commodity market open with a bearish against its previous sideways trend, on Friday last trading day off week MCX gold silver open slightly low. yellow metal open at 30047 against its previous close 30159 at Mcx. In today trade market looking to hold on volatile trend in favor of bearish side, if we watch out silver open at 44096 to its last close of 44128.
gold support and Resistance
S1: 29750, S2: 29600
R1: 30340, R2: 30521
buy gold dec above 30150 tgt 30180/ 30220/ 30300 sl 30000
Buy silver above 44150 tgt 44200/ 44250/ 44350 sl 44120
SELL MENTHA OIL NOV BELOW 854 TGT 851/ 848/ 845 SL 860
Market is moving very low and quite need some boost in market , MCX bullion prices silent from a morning session after a Unemployment data negative affect on Wednesday trade.
In gold prices wait for break the support level of 29900 in downside while in upper side wait for the level of 30020 top buy.
Silver prices trading sideways since morning in a channel, and expected a breaking on level 44050 if level break then sell. However in upper side wait for the level of 44150 to break then buy on high.
Mentha oil is bearish on MCX since morning a high selling pressure is seen in Mcx due to near of expiry Date of November contact. Mentha oil seem more dark side in this two days .
Sell gold dec below 29950 tgt 29910/ 29860/ 29800 sl 30080
sell silver dec below 43990 tgt 43940/ 43870/ 438000 sl 44190
on evening session commodity market going to be high bullish , Indian rupees closes positive on forex trading by gain +36 paise against US dollar to 62.14. on evening trade at Mcx market expected to be volatile, especially in bullion a high movement is going to seen. Meanwhile crude oil is hope to be negative around the range of 5800 and below. On evening Mentha oil might show some bounce back with a bullish note. In base metal a lazy trend is seen since morning and no such bounce back is expected in evening trade,
BUY GOLD DEC ABOVE 30200 TGT 30240/ 30280/ 30350 SL 30100
BUY SILVER DEC ABOVE 44650 TGT 44700/ 44760/ 44850 SL 44450
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Commodity market are looking in positive side and good buying are looking in MCX commodities. A good opening is seen in bullion prices on Tuesday trade gold open much high again yesterday closing of 30171 open at 30313. while silver open in bit down but a good short cover is seen in white metal and made an intraday high of 45124 with a low of 44490.
Mcx crude oil for delivery in December showing some gain in morning session but crude prices bounded in the range of 5950 if crude break this level then set a target of 6000 in this week.
Mentha oil comes to dark side after a morning positive session , mentha oil in evening expected more negative near 860 and below. However a good rise had seen in natural gas for future delivery today which rise near 1.30% to 243.70 in Mcx. In evening trade more flat trend is looking in natural gas.
BUY GOLD DEC ABOVE 30280 TGT 30320/ 30360/ 30450 SL 30100
BUY SILVER DEC ABOVE 45000 TGT 45050/ 40150/ 40250 SL 44780
BUY NICKEL NOV ABOVE 843 TGT 845/ 848/ 851 SL 839