Wednesday, December 21, 2011

MCX Commodity Tips, NCDEX Agri Commodity Market Updates

Today again Gold, Silver, Copper, Crude in commodity market are trading at positive prices, other base metals are trading at negative prices. MCX Gold can test 28,000 while silver 54,000 in near term. Copper can trade in range of 390-405. Support for February copper is seen at Rs. 390 while resistance is seen at Rs. 402. MCX Crude can test 5,200 on domestic bourses. All base metals are trading on a positive note today.

Turmeric futures may trade sideways. Pepper futures to trade lower for the day. Pepper futures may trade sideways facing resistance near 36,000 levels. Pepper prices fell sharply yesterday and closed the day at 35315. Cardamom futures may trade bearish due to lack of fresh cues coming in from the spot markets. Guar Complex is expected to trade higher for the day. Gur prices traded higher after making a high of 1090 closed the day at 1083. Guar seed prices opened with upside gap and traded higher after making a low of 6500 closed the day at 6616. Outlook for Soybean is seen up for the day. CPO is expected to trade higher. Outlook for Chana is up for the day. Outlook for Jeera is sideways to down for the day.