COMMODITY CALLS FOR 2ND APRIL 2014

Gold prices are expected to bounce, one can long only if sustains above 28100 with a stop loss below 27950. Prices are expected to rise till 28500 – 28550. 

Silver prices are expected to bounce 43600 -43850. One can buy if sustains above 42900 with a strict stop loss below 42400. 

Copper prices are expected to trade within the range from 397 to 406. Traders are advised to sell on rise around 405 - 405.50 with a stop loss above 408.50. 

Nickel prices are expected to trade within the range from 970 to 940. One should buy around 950 -948 with a stop loss below 938. 

Lead prices are likely to bounce till 124.70 -125 whereby seller could be active, one can sell with a stop loss above 126.30. Prices are expected to test 121.50 on lower end. 

Crude oil prices are likely to remain range bound from 5970 to 6150. One can sell with a strict stop loss above 6155.

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Latest Commodity Calls for Gold Silver

Today in Indian commodity market we have expected gold commodity to trade low. Experts advises are to sell gold commodity around 26050 -26100. Traders can maintain the stop loss at the level above 26250. on the other hand the precious metal silver commodity are expected to trade between the range from 39850 to 40850. It is advised to trade within the range with silver.

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MCX COMMODITY TIPS

MCX GOLD COMMODITY TIPS Buy at 28070, Stoploss 28000, Target 28200. MCX SILVER COMMODITY TIPS Buy above 43800, Stoploss 43550, Target 44200.

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Gold Futures : Commodity Update

 Gold prices rose by Rs 227 to Rs 28,418 per 10 gm in futures trade largely on speculative positions created by participants amid a firming trend at the spot market.

At the Multi Commodity Exchange, gold for delivery in far-month October was up by Rs 227, or 0.81 per cent, to Rs 28,418 per 10 gm in business turnover of 143 lots.

The metal for delivery in August contracts moved up by Rs 225, or 0.80 per cent, to Rs 28,236 per 10 gm in a turnover of 2,071 lots.

Analysts said overnight gains in the global market and a firming trend at the domestic spot market as weakening rupee, which slumped to an all-time low of Rs 58.90 to a dollar made gold costlier, mainly influenced gold prices at futures trade here.

Meanwhile, gold rose by USD 2.40, or 0.17 per cent to USD 1,387 an ounce in New York in yesterday's trade.

Ref: Click Here

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Commodity Market Updates & Calls

Commodity Market Live Updates

Gold is likely move down in today's Indian Commodity Market. However a weaker rupee due to weak domestic markets can limit the downside. Gold for June delivery on MCX was down by 0.56% at INR 25,963/10gms and silver was up by 0.13% closing at INR 43,226/kg.

In the energy sector crude oil prices are expected to go down as markets are well supplied and demand concerns from China can continue to push prices down. Natural gas is expected to move in a range ahead of thei nventories data today.

Commodity Calls

Sell Gold-June at 26200-26250 TGT 25600 SL 26400
Sell Silver- July at 44000-44200 TGT 42000 SL 44800
Sell Crude oil –June at 300-5310 TGT 5240 SL 5350
Natural Gas– May Range 227-235

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Bullion, Energy, Base Metals Commodity Updates & Tips:

Bullion Commodity Updates & Tips:

Gold futures were marginally higher on domestic exchanges, in line with the trend on the COMEX. However, a strong rupee against the dollar capped the upside in local prices. A weak dollar against the euro weighed on the COMEX gold futures.

MCX Gold December Contract is looking positive for the day. Market may find support near 31080 & 30980; intraday resistance can be seen near 31180 & 31290. Day traders are advised to buy intraday on dips. (Buy Gold around 31080 with SL 30980, for the target of 31180 & 31290.)

MCX Silver December Contract is looking positive for the day. Market may find support near 59600 & 59100; intraday resistance can be seen near 60100 & 60600. Day traders are advised to buy intraday on dips. (Buy Silver around 59600 with SL 59100, for the target of 60100 & 60600.)

Energy Commodity Updates & Tips:

Domestic crude oil futures traded higher tracking a similar movement in benchmark contracts on the New York Mercantile Exchange, where prices gained on bargain hunting and weak US dollar against the euro. NYMEX oil futures had declined earlier on concerns over a fall in crude oil demand following shutdown of refineries on the US East Coast after Hurricane Sandy hit the region.

MCX Natural Gas November contract is looking slightly positive for the day. Market may find support near 199 & 196 intraday resistance can be seen near 204 & 207. Day traders are advised to buy intraday on dips. (Buy Nat Gas around 199 with SL 196 for the target of 204 & 207.)

MCX Crude oil November contract is loo king slightly positive for the day. Market may find support near 4640 & 4590; intraday resistance can be seen near 4690 & 4740. Day traders are advised to buy intraday on dips. (Buy crude oil around 4640 with SL 4590, for the target of 4690 & 4740.)

Base Metals Commodity Updates & Tips:

Base metal futures on the MCX traded higher tracking the rise in benchmark contracts on the London Metal Exchange, where weak dollar against the euro and bargain hunting pushed up prices. Decline in stocks of base metals at LME-monitored warehouses also boosted sentiment for futures.

MCX Copper November contract is looking slightly negative for the day. Market may find support near 418 & 415; intraday resistance can be seen near 422 & 425. Day traders are advised to sell intraday on rise. (Sell copper around 422 with SL 425, for the target of 418 & 415.)

MCX Nickel November contract is looking slightly negative for the day. Market may find support near 875, 865, intraday resistance can be seen near 884 & 894. Day traders are advised to sell intraday on rise. (Sell Nickel around 884 with SL 894, for the target of 875 & 865.)

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MCX Commodity Outlook Today

MCX Commodity Outlook

Gold Dec is looking strong. In near term Gold Dec is expected to continue with its bounce back rally and could test 31500 resistance levels. On downside 31250 is initial support level. Today's Trend - Positive. Strategy buy on dips.

Silver Dec is looking strong. In near term Silver Dec is expected to continue with its bounce back rally and could test 61000 resistance levels. On downside 60500 is initial support level. Today's Trend - Positive. Strategy buy on dips.

Yesterday Copper Nov was successful to close above 442.50 resistance level. If Copper Nov is able to sustain above 442.50 level then it could test 450 levels in coming days.On downside Copper Nov has initial support at 442 followed by support at 439. Today's Trend - Positive. Strategy buy on dips.

Lead Oct looks strong as compare to other metals. Lead Oct now has resistance near 117 levels and support near 114 levels. Today's Trend - Positive Strategy Buy on dips.

Nickel Oct after yesterday's move is looking strong however it has stiff resistance near 928 level. If Nickel Oct close above 928 levels then 940 would be level to watch. On downside 912 is good support level for Nickel Oct. Today's Trend - Positive. Strategy buy on dips.

Zinc Oct yesterday saw bounce back rally however upside was limited. On upside Zinc Oct has stiff resistance level at 102.50 level. If Zinc Oct is able to close above 102.50 then next level to watch out would be 105. Today's Trend - Could be pull back rally.

Free commodity Tips today

BUY MCX NATURAL GAS OCT @ CMP 192 S/L AT 189 TGT 196 - 198.20

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