It seems that the rein has been put in the booming of gold and silver in the market.Gold and silve rare trading range bound across the globe.MCX Gold hit the price band of 29,574 by falling down 0.3 percent in the market.while silver has broken half per cent. Gold ETF holdings of the domestic market have come down substantially, in June,as the investors withdrew a record Rs 230 crore. The holding of the gold ETFs have been cut down by 25 per cent.There is a slowndown in the economy world wide despite this the gold is trending down.The market is being a little pessimistic and cautious about the global economy, and investors are choosing the dollar as the top safety havenThe strength in the dollar is in turn putting pressure on gold prices.
Hence We recommend Following MCX Commodity tips for Today’s session:-
Gold (MCX): Sell @ Rs -29 580, Stop Loss-29680 Target-29,450
Silver (MCX): Sell @ Rs -53280, Stop Loss-53400 Target-52900
Crude oil (MCX): Sell below @ Rs -4730, Stop loss-4780 Targets 4680 to 4620
Copper (MCX): Sell below @ Rs -423, Stop Loss -425.50 Target-418
NCDEX Commodity & Agri Tips for today 30 June 2012
Due to the heavy fluctuations in the agri commodities the traders and investors have lost their interest in the market. Volatile market caused the market trend to decline.In the first half of early June the business at ncdex has declined by 18% which had a greater impact on the traders.The July soybean futures on NCDEX has come down to Rs 3,900. With a drop of 1 per cent on the NCDEX Turmeric is trading at Rs 4180.Castor seed has weakened 1.5 percent. Potatoes on the NCDEX with nearly 0.5 per cent gain trading at Rs 1108.
Further yesterday the markets closed with substantial gains this week with all sectoral indices closing positive. The Sensex was up 2.7% and Nifty also gained 2.7% over the week. The CNX Midcap index closed with 3% gain, BSE Smallcap gained 2.2% while the Bank Nifty closed with 3.2% gain. The BSE Metal closed with 4% gain, BSE OilGas was up 2.5% and BSE Power closed with 4.75% gain over the week. The BSE Realty was up 2.5%, BSE Healthcare gained 2.5% while BSE Capital Good closed with 3% gain. The top Nifty gainers during the week were Tata Power, Jindal Steel, ICICI Bank and Maruti Suzuki while the biggest losers included Cairn India and BPCL.
MCX NCDEX Trading Tips for Today 29 June 2012
Selling pressure in the ncdex commodity market has caused the red pepper prices to go fall below the expected levels. In the spot market the due to the abundant stock and weaker export demand has pressurized the current market price of chilli to trade at the lower.However, in Andhra Pradesh late fall sowing may be limit the prices of red pepper and chilli. Further Summer pulses target area was 17.49 million hectares which was later reduced to 15.11 million hectares.
Hence we recommend following technical levels for today:-
NCDEX Red Chilli July Price: 4960-4980 Target: 4870 Stop Loss: 5030
NCDEX Chana July Price: 4335-4342 Target: 4385 Stop Loss: 4317
NCDEX Jeera (July futures): Buy – 13,700 to 13,750, stoploss of Rs – 13 550 and the target – 14000
NCDEX Cotton cake (August futures): Sell – 1375, stoploss of Rs – 1408 and the target – 1325
A sharp decline has been noticed in the price of ncdex chana after the yesterday’s hike. At present the Chana is trading at lower side in NCDEX. Chana is trading with a fall of 0.5 percent. After gaining a marginal up the Soyabean is also trading in lower trend while the mustard is trading at up side in the commodity market.
Soybeans on NCDEX declined by 0.3 per cent and trading around Rs 3820.Mustard with a lead of 1 per cent is trading at Rs 3,950.Barley has gone up by 0.5 per cent on the NCDEX. Corn have gone up by 0.5 per cent and is trading at Rs 1,260. Wheat is also 0.5 per cent.
With slight edge on MCX gold is trading at Rs 30,100. Silver is down by 0.3 per cent and the price has come close to Rs 53,500. With 0.5 per cent on MCX crude oil is trading at Rs 4550. MCX has weakened by 0.5 per cent in the base metals.
MCX NCDEX Trading Tips for Today 27 June 2012
NCDEX Soybean Trend (June futures): Sell – 3845, stoploss of Rs – 3880 and the target – 3780
NCDEX Chana Trend (July futures): Sell – 4300, stoploss of Rs – 4365 and the target – 4210
MCX Copper Trend (June futures): Sell – 415.50, stoploss of Rs – 417.50 target – 409
MCX Nickel Trend (June futures): Sell – 930, stoploss of Rs – 940 goal – 900
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