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.
Commodity Market News 12 June 2012
It has been noticed here that there is sudden fall in Gold and Silver in the domestic as well as the International market. The highest price of gold is noticed at Delhi which was around 30150 for 99.99% pure gold. All the commodities like Crude oil, Natural gas and copper lead zinc are trading with moderate fluctuations in the prices.
Here are the mcx ncdex trading tips for today 13 June 2012
With the falling prices of MCX gold we would recommend to Sell it around 29800 levels with a stop loss placed above 29900 levels for targets of 29500 levels.
MCX Silver will be a Buy call above 54800 levels with a stop loss placed below 54400 levels for targets of 55400 levels.
Place a sell call for MCX Copper around 125 levels with a stop loss placed above 129 levels for targets of 119 levels.
Sell MCX Nickel around 957 levels with a stop loss placed above 965 levels for targets of 940 levels.
MCX Lead would be a Buy call around 106 levels with a stop loss placed below 105.20 levels for targets of 107 levels.
MCX Base metals are volatile. Copper is under selling pressure. Nickel is also falling. Remains firmly in the zinc and lead. Copper in the domestic market is trading around Rs 410 despite weakness in rupee. MCX Nickel in metal has faced a decline of at the most around 1 per cent. Most of the aluminum has nearly 0.5 per cent.
MCX Gold & Silver Updates
Gold and silver trading is slack. With a gain of 0.1 per cent MCX Gold is trading at 29,800. The silver with fluctuation is trading around Rs 54 710.
After yesterday’s up the crude oil has to dive again. MCX crude oil declined by 1 per cent. MCX crude oil price has come down to Rs 4,600. Forecasting news that ; there is a reduction in demand for crude oil in the International market lower down the prices.Crude oil touched the 8 months low. Nymex the crude oil has slipped below 82 dollars a barrel.
Chana has declined by around 1% to meet the low levels.Actually the monsoon sowing of pulses has taken the momentum.So far, more than 15 million hectares across the country in the pulses crops have been sown. The government has targeted 1.7 million hectares. 5 million hectares in Bihar has also achieved the target with the sowing. While West Bengal has been sown over the target.
MCX Gold : MCX Gold has gained 2% in the International market while 0.6% in the domestic one.There is no proper clarity of the global economy that where will it move though the Researchers believe that the Gold is still a safe investment option.
MCX Gold Weekly Technical Levels
Buy MCX Gold August between 29,430-29400, SL-29100, Target -29900/30150. Spot Gold : Support 1581/1551 Resistance 1611/1638
MCX Silver: At one hand where the gold gained the hike the Spot silver slipped by 0.6%.According to the experts the silver will trade in higher in this week.
MCX Silver Weekly Technical Levels
Buy MCX Silver July between 53900-53850, SL-53490, Target -54700/55600.
Spot Silver : Support 28.20/27.64 Resistance 28.85/29.60
MCX Copper : MCX Copper declined on the weekly basis around 0.6 percent in London Metal Exchange. Copper is expected to trade in higher in this week’s trade.
MCX Copper Weekly Technical Levels MCX Copper: Support 397/387 Resistance 415.30/423.70.
LME Copper: Support 7160/7020 Resistance 7510/7725.
MCX Crude Oil : On the MCX, the crude oil June contract fell by 0.1 percent on the back of appreciation in the Indian Rupee. There will be a upside support for crude this week.
MCX Crude Weekly Technical Levels
Buy MCX Crude June Between 4615-4600, SL-4510, Target -4780
Nymex Crude Oil: Support: 82.30/79.80 Resistance 87.20/90.0
NCDEX Chana Weekly Technical Levels
Buy NCDEX July Chana between 4100-4120, SL-4000, target 4250/4280.
NCDEX Black Pepper Weekly Technical Levels Buy NCDEX July Pepper between 39150-39250, SL-37800, Target 40800/41200