Monday 31 December 2012

MCX Tips For The Last Day of 2012


Bullion: 
MCX Gold Contract is looking negative for the day. Market may find support near 31580 & 30480; intraday resistance can be seen near 30730 & 30840. Day traders are advised to sell intraday on rise. (Sell around 30730 with SL 30840, for the target of 30580 & 30480.)
   MCX Silver  Contract is looking negative for the day. Market may find support near 57200 & 56700; intraday resistance can be seen near 57700 & 58200. Day traders are advised to sell intraday on rise. (Sell around 57700 with SL 58200, for the target of 57200 & 56700.)

Base Metal :
MCX Copper  contract is looking positive for the day. Market may find support near 437 & 434; intraday resistance can be seen near 441 & 44. Day traders are advised to buy intraday on dips. (Buy around 437 with SL 432, for the target of 441 & 444.)
MCX Lead  contract is looking negative for the day. Market may find support near 126.50, 125.40, intraday resistance can be seen near 127.90 & 128.80 Day traders are advised to sell intraday on rise. (Sell around 127.90 with SL 128.80 for the target of 126.50 & 125.40)
MCX Nickel contract is looking slightly negative for the day. Market may find support near 942, 934, intraday resistance can be seen near 956 & 965. Day traders are advised to sell intraday on rise. (Sell around 956 with SL 965 for the target of 942 & 934.)
MCX Aluminium contract is looking negative for the day. Market may find support near 111.90, 111, intraday resistance can be seen near 113.10 & 114. Day traders are advised to sell intraday on rise. (Sell around 113.10 with SL 114 for the target of 111.90 & 111.)

Energy: 
MCX Natural Gas  contract is looking slightly positive for the day. Market may find support near 188 & 185 intraday resistance can be seen near 193 & 196 Day traders are advised to buy intraday on dips. (Buy around 188 with SL 185 for the target of 193 & 196.)
MCX Crude oil  contract is looking positive for the day. Market may find support near 4970 & 4920; intraday resistance can be seen near 5030 & 5090. Day traders are advised to buy intraday on dips. (Buy around 4970 with SL 4920, for the target of 5030 & 5090.)



Thursday 27 December 2012

MCX Commodity Tips for The Day : 27/12/12


Bullion: 
Gold prices are expected to trade within the range from Rs 30500 to Rs 30800. Trend for the day is likely to be sideways to down. One can initiate a sell around Rs 30700-30720.
Silver prices are expected to trade within the range from 57200 to 57900. For intraday if holds 57300 one can buy for intraday with a stop loss below 57200.

Metal:
Copper prices are expected to trade within a range from 443 to 436. One can trade within the range with a negative bias with a stop loss above 445. We expect selling pressure to around 441-442.
Nickel prices are expected to trade within a range from 940 to 962. One can buy around 950 with a stop loss below 942.
Lead prices are expected to trade within the range from 127.50 to 125 one can trade within the range with a positive bias. Fresh buying above 127.50.

Energy:
Crude price are likely to remain supportive any dip around 4950 -4940 should be a buying opportunity. One can add fresh long above 5000 on closing basis.


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Wednesday 26 December 2012

MCX News For 26th Dec. 2012


BULLION : Gold futures prices today fell by 0.40 per cent to to Rs 30,732 per 10 gm as speculators reduced their positions, taking weak cues from the global market.
        At the Multi Commodity Exchange, gold prices for delivery in February fell by Rs 122, or 0.40 per cent, to Rs 30,732 per 10 gm in a business turnover of 1,569 lots.

METAL :  In range-bound movements, copper futures traded a shade higher today largely on the back of pick up in spot demand.
        At the Multi Commodity Exchange, copper for delivery in April rose by 35 paise, or 0.08 per cent to Rs 441 per kg in a turnover of 99 lots.

 Nickel futures prices fell by 0.41 per cent today after speculators reduced their positions at prevailing level in the absence of cues from the global markets amid approaching expiry.
        At the Multi Commodity Exchange, nickel for delivery in January traded Rs 3.90, or 0.41 per cent lower at Rs 953.20 per kg, with a business turnover of 152 lots.

ENERGY :  Oil prices were up in post-Christmas Asian trade Wednesday as traders warily eyed the soon-to-resume US budget talks on a deal to avert the fiscal cliff, analysts said.

Monday 24 December 2012

MCX Tips for 24th Dec. 2012


Gold prices are likely to bounce bank to the tune of 31050 - 31150. For intra day one can buy if sustains above 30800 with a stop loss below 30740. prices are expected to witness selling pressure around the mention zone whereby recommended to exit long position.

Silver prices are expected to bounce back till 59000 - 59300 on higher side one can buy for intra day if sustains above 58400 with a stop loss below 58000.


Copper prices are expected to trade within the range from 441 to 434 one can buy around 436.50 with a stop loss below 433 for the target at 441.

Nickel prices are expected to witness a sideways move from 975 to 945 one can trade within the range. Fresh buying expected above 990.

Lead prices are expected to trade sideways from 124 to 127. one can buy around 125 with a stop loss below 123.50.

Crude prices are resisting 5000 mark on higher end one can witness selling pressure at 4950-4960 maintaining a stop loss above 5010 for the downside target at 4880 - 4860.


Friday 21 December 2012

MCX & Commodity News For the Weak


Industrial metals prices slipped yesterday due to uncertainty over the outlook for demand, increased by a fall in the number of U.S. house building projects being started in November, while investors also kept a close watch on budget talks in the United States.  European lead and zinc premiums were unchanged this week as prices on the London Metal Exchange remained elevated with lead prices touching a year high, market participants said. South Africa is drawing up laws to force platinum and iron ore miners to sell "small amounts" of production to local processors at a discount to diversify its economy, a top trade ministry official said on Wednesday.
Nickel and gold miner MRL Gold Philippines Inc. will invest $100 million in a nickel processing plant in Agata, Surigao del Norte in 2014. The plant, once operational, will process up to 500,000 metric tons of nickel ore to produce 7,000 metric tons of nickel annually using the cheaper atmospheric leach process. Some banks have tightened credit for imports of refined copper by China, the world's largest consumer of the metal, as stocks pile up in bonded warehouses and prices hover below London rates, reducing buying of the metal and keeping premiums low. Global stainless steel output rose 2.9 percent for the first nine months of the year compared with the same period last year, boosted by record production in the third quarter, the industry body ISSF said in a report on Tuesday

Thursday 20 December 2012

MCX Weekly Upadates and Technical Trends - 17th dec. - 21 dec. 2012


MCX GOLD Technical Trend
MCX GOLD last week showed choppy movements from last two sessions and took reversal from 38.2% retracement and it is consolidating around trend line. Now if it gives closing below 31000 then bearish rally is expected towards the level of 30500. On other hand 31500 is seen as strong resistance for it only above this some upward movement is expected.

Strategy
Better strategy in MCX GOLD is to buy above 31500 for the targets of 31900-32400 with stop loss of 30900.

MCX SILVER Technical Trend
MCX SILVER last week showed downward movements found strong support around 61000. Now if it gives closing below this support then we expect some bearish movement in it. On daily charts it moves in a downward channel pattern and may find resistance around upper band of channel i.e. 62500 and above this breakout of channel pattern is expected.

Strategy
Better strategy in MCX SILVER at this point of time is to sell below 60950 for the target of 60000-59000, with stop loss of 62300.

MCX CRUDEOIL Technical Trend
Crude oil last week showed downward movements and got strong support of trendline i.e. around 4650 if it break this then next support is seen around 4550 below this it is too weak. On higher levels 4950 is seen as strong resistance for it closing above this may take it towards next resistance level of 5055.

Strategy
Better strategy in MCX CRUDEOIL is to sell below 4650, for the target of 4600-4550 with stop loss of 4790.

MCX Copper Technical Trend
MCX Copper last week showed sideways movement moves in an upward channel pattern and took support of 23.6% retracement i.e. 443. On lower side 443 is act as support for it below this break out of channel pattern is expected.On higher side 450.50 is act as strong resistance for it.

Strategy
Better strategy in the MCX COPPER will be buy on dips, with the stop loss of 442 for the targets of 450-455.

Wednesday 19 December 2012

MCX Tips Today for 19th Dec. 2012



BULLION :
Gold prices have witnessed a major fall after a bounce back to the resistance zone at 31500-31550. We expect selling pressure to continue sell on rise around 31150 31200 with a stop loss above 31320 for the down side target at 30850-30750. 30700 seems to be a key support below which we expect prices to witness a sell off till 29500-29000.
Silver prices are expected to trade negative till 60000-59500, one can sell on rise around 61000 61200 with a stop loss above 61550.

BASE METAL :
Copper prices are expected to trade sideways to negative within the range from 451-441. For intraday one can sell with a strict stop loss above 451.
Nickel prices expected to trade within a range from 985 to 955, one can trade within the range. Fresh buying expected above 990.
Lead prices are expected to trade positive one can buy on dips around 125.50 for the upside target at 129.

ENERGY:
Crude prices are expected to trade positive till 4940-4960 one can buy around 4880 with stop loss 4835.

Tuesday 18 December 2012

MCX Tips For 18 Dec. -Buy Gold above Rs 31600 :



BULLION:
Gold prices are expected to trade within the range from 31550 to 31300. Trend for the day is likely to be positive. However selling pressure is expected around 31500 -31550. Fresh buying recommended above 31400.
Silver prices are expected to trade within the range from 62200 to 61400. For intraday one can buy around 61600 with a stop loss below 61400.

BASE METAL:
Copper prices are expected to trade within a range from 452 to 442. One can trade within the range with a positive bias. But because of RBI's decision  it may be at 4780
Nickel prices are expected to trade within a range from 950 to 980. One can buy around 968 with a stop loss below 974.
Lead prices are holding strong we recommend to buy around 126 for short term with a stop loss below 122 for the target at 126 safety - 127.

ENERGY:
Crude price are likely to trade positive one can buy around 4775-4850 for the target at 4880-4900 with a stop loss below 4750.

Monday 10 December 2012

Commodity Market View for 10th Nov. 2012

Bullion:
Gold prices are expected to bounce till 31500, for intraday one can buy around 31280 -31250 with a stop loss below 31150.
Silver prices also expected to bounce till 63200 -63300, one can buy on dip around 62600 -62500 with a stop loss below 62250.

Base Metal:
Copper prices have witnessed support at 440 -441 levels we expect prices to test 448 – 450 on higher end one can buy with a stop loss below 441.
Nickel prices are expected to trade within the range from 935 to 955 one can trade within the range with a positive bias with a stop loss below 928.
Lead prices are expected to trade within the range from 123 to 120 one can trade  within the range. Fresh buying recommended above 123 on closing
basis.

Energy:
Crude price are likely to remain sideways from 4750 to 4650 one can trade within the range. Exit  all long position below 4650 on closing basis.