Wednesday, February 29, 2012

MCX NCDEX Tips ~ Intraday Commodity Market Updates Today 29 feb 2012

Today MCX Gold and Silver are trading at higher prices. Gold futures may trade sideways with downside remaining capped. Yesterday Silver touch its highest level Rs. 60,000 in last 2 month. It is trading above Rs. 61,000. We expect that it may touch the levels of Rs. 65,000 in upcoming trading session. All base metals are trading at positive prices today. Copper futures may trade sideways with a positive bias. Support for MCX April copper contract is seen at Rs.422 while resistance is seen at Rs.434. The upside of Crude oil prices may see some pause. Crude oil is trading in the range of Rs. 5200-5300.

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