Slow moves in crude oil before the meeting of OPEC has affected the market. Business in International and domestic market is very slow. MCX gold between fluctuations has dropped below critical level of 30,000 on Wednesday’s trade.While silver remains above Rs 55,000.MCX is seeing an increase in the base metals. With 0.5 per cent increase MCX Copper is trading at Rs 412.70.
Factors which May affect the Trading in MCX & NCDEX on 14 June are as follows:
- Elections are due this week in Greece
- IEA’s has indicated a increment in supply of crude oil during the next 6 months.
Here are the technical support and resistance level for the mcx and ncdex future commodities gold silver copper lead zinc natural gas etc. for trading on 14 June 2012.
MCX gold (August futures): Buy – 29900, stoploss of Rs – 29800 and target – 30150
MCX Silver (July futures): Buy – 54 900, stoploss of Rs – 54 650 and the target – 55 400
MCX Copper (June futures): Buy – 411, stoploss of Rs – 408 goal – 417
MCX intraday Tips for 14 June 2012
MCX Gold is Sell call around 30050 levels with a stop loss placed above 30150 levels for targets of 29700.
MCX Silver Buy around 55100 levels with a stop loss placed below 54800 levels for targets of 55500
MCX Natural Gas Sell around 125 levels with a stop loss placed above 129 levels for targets of 119 levels.
MCX Copper Sell around 414 levels with a stop loss placed above 417 levels for targets of 409 levels
MCX Lead Sell around 106 levels with a stop loss placed above 106.80 levels for targets of 105 levels.