Tuesday, October 18, 2011

MCX & NCDEX commodity market analysis report and trading tips

MCX Commodity Market Updates Today:-
Gold prices can open with negative bias however recently the bullions have been trading in very thin range. Gold will move in thin range of Rs. 26,700-26,950 while silver Rs. 52,000-54,000 in near term. All Base metals may open in red zone and trading at lower prices. MCX Copper may test the support of Rs. 360-355. Crude oil can also slip lower owing to weak international cues. MCX Crude oil can also test the support of Rs. 4,200.

Today all products in MCX commodity market are trading in red zone. In Bullions MCX Gold and Silver are trading at lower levels. In Base Metals MCX Copper and other metals are also trading at negative prices. MCX Crude oil is also trading at lower prices.

NCDEX Agri Commodity Market Updates Today:-

Pepper futures may continue to feel resistance from higher levels. Outlook for Soybean is seen down for the day. Guar Complex is expected to trade lower for the day. Outlook for Chana is sideways to up for the day. Outlook for Jeera is sideways to down for the day. Pepper futures to trade higher for the day. Turmeric futures may trade bearish due to lack of any fresh cues. Guar complex may trade sideways.

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