Tuesday, November 8, 2011

MCX & NCDEX Commodity Market News Today

MCX Gold and Silver prices can trade sideways with positive bias. Gold faces resistance at 28700 in MCX. Base metals are expected to remain sideways with lack of clear direction due to Greece crises. Copper can trade in range of 370-395 in MCX. Crude oil has shown steady upside recently but profit booking at current levels cannot be denied. Crude Oil traded near the highest in three months.

Today all the sectors in MCX Commodity Market are trading at higher prices, only MCX Naturalgas is trading at lower prices. MCX Gold, Silver, Copper, Crude Oil and other base metals are trading positive OR higher prices today. We assume all are trading upside for the day.

NCDEX Agri Commodity Updates and Trading Tips

Pepper futures may remain in the bearish territory. Turmeric futures may trade sideways tracking weak spot markets. Cardamom futures may trade bearish due to ongoing harvesting season. Chana futures (Nov) may face some resistance near 3,500 levels.