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.)

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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.

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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.

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Tips for Today

Go for Sell in MCX Gold around 31400 levels with a stop loss placed above 31750 levels for targets of 30960 and 30620 levels.

Go For sell in MCX Silver around 62450 levels with a stop loss placed above 63100 levels for targets of 61350 and 60130 levels.

MCX Crude Oil Live Updates:- MCX Crude oil is trading on the downside in the domestic commodity market MCX. NYMEX crude oil prices on the international market has fallen to $ 92. Brent Crude oil is also seeing a selling pressure which in turn has impacted the crude oil in the domestic market. Live price of MCX Crude oil is 4900.

International market is falling strongly in gold and silver. At Comex gold dropped by around .70 percent and Currently trading at around $1755 at Comex while the silver faced the same amount of fall and is at $34 per ounce. Gold in the domestic market (MCX) on Monday closed at 31798 after a drop of 0.26 percent.

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