Last week some small trading range was seen and it made a high of 28107, a low of 27600, and finally managed to close below 28400 as rupee gained strength vis-à-vis the US Dollar and the overseas markets indicated weakness as well. Rupee Dollar trend will also decide the future action of Gold. Overall short-term trend down, at higher level it will face continuous resistance at 28200-28400,
Wednesday, December 28, 2011
MCX GOLD February contract was trading at Rs 27775.00 down Rs 20.00, or 0.06%. It touched an intraday high of Rs 27788.00 and an intraday low of Rs 27740.00. So far 24932 contracts have been traded.
MCX GOLD April contract was trading at Rs 28086.00 down Rs 23.00, or 0.07%. It touched an intraday high of Rs 28091.00 and an intraday low of Rs 28060.00.
Posted by Pawan at 9:16 AM
Monday, December 26, 2011
Monday, December 19, 2011
SILVER (March 2012)
Silver has been unable to go upside and cross 57500-58500 in last few week, and we have seen big fall. It made a base of 52160 but some short covering resulted in it closing at 53458. Now in this week, we may consider resistance at 56500-57000, downside support exit at 53200-52500, break and trade below, it will further downside target at 50000-495000-48500. Close above 58500, it will show real move but chances are very remote.
Friday, December 16, 2011
GOLD: (Feb 2012)
Gold February as seen in the weekly chart, found resistance at 29433, fell sharply lower towards 29000, and finally closed lower.
For this week expect MCX gold resistance at 29300-29400. If it would not gain in this week, one can sell the gold at that level.
Thursday, December 15, 2011
Copper –406.00/Kg (Prev close)
The support for copper remains at 403/400 while it has resistance at 411/415 level. Copper hit a one-week low on Thursday as hopes for swift action to combat Europe's debt crisis were dashed after the European Central Bank underlined its reluctance to pave the way for bond buying on a large scale.
Nickel (MCX-Dec'11): Nickel strongly maintained its support at 950. Today we expect this level to be breached, but a bounce back from lower level is also there on the card.
Today's Tips: Buy Nickel above 961. TGT- 972. SL- 953. Sell only below 946. TGT- 935. SL- 955.
Wednesday, December 14, 2011
COPPER (FEB. 2012)
Copper February as seen in the weekly chart, found good resistance at 415 and lower side 404.
For the next week we expect Copper prices to find resistance at 415. Trading consistently above 415 would trigger a sharp rally initially towards 421 and then finally towards the Major resistance at 434-441.
Tuesday, December 13, 2011
Monday, December 12, 2011
Copper (MCX-Feb'11): As per our expectation, Cooper moved up smartly ad breached all the resistances. Now it is time of profit booking. Copper may fall till 402 any time.
Today's Tips: Buy Copper above 415 TGT- 418 SL- 411. Sell only below 410 for TGT- 404. SL- 412.
Crude (MCX-Dec'11): SELL...SELL...SELL... No such good news are there in the market to maintain this counter at higher level. Sell at every rise.
Posted by Pawan at 9:44 AM
Friday, December 9, 2011
Crude oil futures continued their downtrend on Wednesday on rising U.S. supplies despite Mid Eastern and euro zone tensions
On the New York Mercantile Exchange, light, sweet crude futures for January delivery traded at USD100.47 during late U.S. trade, giving back 0.86%.
Posted by Pawan at 9:43 AM
Monday, December 5, 2011
Prices have reversed last week's downward momentum as the dollar weakened following the collective Central Bank agreement to increase short-term liquidity.
Major currencies, as well as the equity markets, strengthened following the recently improved market sentiment Gold prices rose $11.50 an ounce, or 0.7% to end on Friday at $1,751.30 an ounce on the Comex division of the New York Mercantile Exchange.
Friday, December 2, 2011
Our technical analyst said-“You should buy into copper now. It is starting a fresh move. The move of its correction is now over. If you get in now, you will be probably catching fresh move up.”
MCX SILVER December contract was trading at Rs 55820.00 up Rs 300.00, or 0.54%. It touched an intraday high of Rs 55927.00 and an intraday low of Rs 55066.00. So far 2417 contracts have been traded.
Posted by Pawan at 10:03 AM
Thursday, December 1, 2011
MCX GOLDPETAL November contract was trading at Rs 2878.00 up Rs 6.00, or 0.21%. It touched an intraday high of Rs 2891.00 and an intraday low of Rs 2868.00. So far 8482 contracts have been traded.
MCX SILVER December contract was trading at Rs 55010.00 up Rs 40.00, or 0.07%. It touched an intraday high of Rs 55315.00 and an intraday low of Rs 54966.00. So far 4904 contracts have been traded.
Posted by Pawan at 10:23 AM