Friday, 27 February 2015

Commodity Market News-28 Feb 2015

Free Commodity Tips

MCX Natural Gas March futures took a breather on Friday. The energy futures tested a high at Rs 171, before losing with a gain of 0.5 per cent at Rs 170 following NYMEX Natural Gas futures.

On the daily charts, the Natural Gas prices are slightly below the 20-DMA (Rs 172). Hence, the commodity is likely to trade with a bearish bias as long as the prices trade below Rs 172-odd level.

In case, if MCX Natural Gas contracts slip in the near-term, one can expect prices to seek support around Rs 158-odd level - which is the lower-end of the Bollinger Band on the daily charts.

The energy futures needs to bounce back
and sustain above the 20-DMA (Daily Moving Average) for a likely pull-back rally on the daily charts.

MCX Copper April expiry contract closed marginally lower on Friday.

It is interesting to witness the moves
in Copper on Saturday, as markets are opened due to union budget.

The metal has surpassed the psychological resistance of Rs 360 per kg and Rs 365 a day.

Copper ended the day at Rs 370 per kg on 27 Feb 2015 against 371.60 per kg on 24 Feb 2015.

The MCX Crude Oil March futures bucked the global trend and declined for the second consecutive day. Yesterday, the energy contracts touched a low at Rs 3,016, before closing with a loss of nearly a per cent (Rs 21) at Rs 3,034. The NYMEX Crude Oil April on Friday surged over 2.6 per cent to $ 49.44.

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Thursday, 26 February 2015

Daily Outlook for Silver on 27 Feb

Mcx Silver Tips

The MCX March Silver futures moved higher for the second straight day. On Thursday, the precious white metal gained to reach a high at Rs 37,098 owing to steep rally in NYMEX Silver prices, but however pared gains and ended with a minor gain of 0.5 per cent at Rs 36,628.

The Silver prices are trading below the 20-WMA (Rs 37,074) and 20-DMA (Rs 37,220). Hence the commodity is likely to remain bearish as long as Silver prices trade below Rs 37,074-37,220-odd levels.

On the downside, the shiny metal is expected to seek support around Rs 36,200-odd level.

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Commodity Market News-27 Feb 2015

Free Commodity Tips

BULLION

Gold April future is trading soft at $ 1,209.30.Silver May future has declined 0.2 per cent at $ 16.595.Platinum April future is up 0.3 at $ 1,177.80.

ENERGY

Crude Oil April future has gained 1.2 per cent at $ 48.76.Brent Oil April future has added 0.4 per cent at $ 60.73.Natural Gas April future is trading on a soft note at $ 2.698.

The MCX March Crude Oil futures after facing strong resistance around the 20-50-DMA are now showing some sign of correction.

Yesterday, the energy contracts tested a high at Rs 3,135, but however erased gains and ended with a significant loss of 2 per cent (62) at Rs 3,055 as the NYMEX Crude Oil prices tumbled.

The MCX Natural Gas March futures extended losses for the straight day and tumbled below 20-DMA (Rs 172) to hit a low of Rs 168, before selling with a huge loss of nearly 5 per cent at Rs 169 owing to significant drop in NYMEX Natural Gas prices on bearish storage data.

BASE METAL

Copper May future has shed 0.5 per cent at $ 2.677.

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AGRI COMMODITY MARKET-27 FEB 2015

Agri Commodity Tips

CS TURMERIC   (APRIL) OVERVIEW:
TREND  MIXED TO BEARISH
RESIST 2:9150
RESIST 1:9010            
SUP1:8790
SUP2:8710
STRATEGY: SELL ON RISE

CS SOYABEAN (APRIL) OVERVIEW:
TREND  BEARISH
RESIST 2:3400
RESIST 1:3380
SUP1:3360
SUP2:3345
STRATEGY:  SELL ON RISE

CS CHANA  (APRIL) OVERVIEW:                        
TREND  BULLISH
RESIST 2:3740
RESIST 1:3720
SUP1:3675
SUP2:3650
STRATEGY: BUY ON DIPS

CS DHANIYA (APRIL) OVERVIEW:
TREND   BEARISH
RESIST 2:6435
RESIST 1: 6325            
SUP1:6140
SUP2:6070
STRATEGY: SELL ON RISE

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Commodity Market News-26 Feb 2015

Free Commodity Tips

Gold settled up 0.25% at 26123 snapped a three-day loss to end higher Wednesday, on the back of Federal Reserve Chief Janet Yellen's statement before the Congress on interest rate hikes which analysts see as not too damaging for the precious metal.

Silver prices rose by Rs 195 to Rs 36,650 per kg in futures trading today as speculators enlarged positions amid a firming trend in precious metals overseas.

Zinc futures rose by 0.59% to Rs 127.60 per kg today as speculators enlarged positions amid a firm global trend and better domestic demand.

Brent Crude Oil rose to around $59 a barrel on Wednesday after data showed Chinese factories were producing more than expected and Saudi Arabia's oil minister said oil demand was growing.

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Wednesday, 25 February 2015

AGRI COMMODITY MARKET LEVELS-26 FEB 2015

Agri Commodity Tips

CS TURMERIC   (APRIL) OVERVIEW:
TREND  MIXED TO BULLISH
RESIST 2:9250
RESIST 1:9130            
SUP1:8830
SUP2:8650
STRATEGY: BUY ON DIPS

CS SOYABEAN (APRIL) OVERVIEW:
TREND  MIXED TO BEARISH
RESIST 2:3440
RESIST 1:3410
SUP1:3360
SUP2:3340
STRATEGY:  SELL ON RISE

CS CHANA  (APRIL) OVERVIEW:                        
TREND  MIXED TO BULLISH
RESIST 2:3715
RESIST 1:3700
SUP1:3660
SUP2:3640
STRATEGY: BUY ON DIPS

CS DHANIYA (APRIL) OVERVIEW:
TREND   BEARISH
RESIST 2:6570
RESIST 1: 6420            
SUP1:6175
SUP2:6080
STRATEGY: SELL ON RISE

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Tuesday, 24 February 2015

Commodity Market News-25 Feb 2015

Free Commodity Tips

BULLION

Gold and Platinum April futures have jumped over a per cent at $ 1,249.40 and at $ 1,175.45.Silver March future has jumped 2.7 per cent at $ 16.953.

ENERGY

Crude Oil and Natural Gas March futures are trading on a soft note at $ 52.05 and $ 2.892.Brent Oil April future is up 0.7 per cent at $ 58.87.

The Crude Oil prices are slightly below the 20-DMA at Rs 3,143-odd level. Hence, the commodity is likely to trade with a negative bias as long as prices remain below Rs 3,143-odd level.

BASE METAL

Copper March future has dropped over 0.5 per cent at $ 2.568.

MCX Copper February expiry contract which is due to expire this week ended in green for the session ending Tuesday.The metal surpassed the psychological resistance of Rs 360 per kg.

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AGRI COMMODITY MARKET LEVELS-25 FEB 2015

Free Commodity Tips

CS TURMERIC   (APRIL) OVERVIEW:
TREND  MIXED TO BULLISH
RESIST 2:9055
RESIST 1:8960            
SUP1:8745
SUP2:8620
STRATEGY: BUY ON DIPS

CS SOYABEAN (APRIL) OVERVIEW:
TREND  MIXED TO BULLISH
RESIST 2:3430
RESIST 1:3415
SUP1:3380
SUP2:3360
STRATEGY:  BUY ON DIPS

CS CHANA  (APRIL) OVERVIEW:                        
TREND  MIXED TO BULLISH
RESIST 2:3690
RESIST 1:3665
SUP1:3630
SUP2:3605
STRATEGY: BUY ON DIPS

CS DHANIYA (APRIL) OVERVIEW:
TREND   MIXED TO BEARISH
RESIST 2:6560
RESIST 1: 6640            
SUP1:6335
SUP2:6170
STRATEGY: SELL ON RISE

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Monday, 23 February 2015

Commodity Market News-24 Feb 2015

Free Commodity Tips

Gold prices declined Rs 120 to Rs 27,070 per 10g at the bullion market on Monday due to sluggish demand from jewellers amid a weakening trend abroad.

Silver futures prices today rose by Rs 184 to Rs 36,383 per kg as speculators built fresh positions amid covering-up of short positions.

Copper prices fell by 0.24% to Rs 359.20 per kg in futures trade today as speculators indulged in offloading their positions.

Crude Oil futures rose by 0.42% to Rs 3,109 per barrel today as speculators created fresh positions amid a firm trend in Asia.

Zinc futures edged up by 0.24% to Rs 126.95 per kg today as participants enlarged positions amid a firm global trend and better domestic demand.

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AGRI COMMODITY MARKET LEVELS-24 FEB 2015

Free Commodity Tips

CS TURMERIC   (APRIL) OVERVIEW:
TREND  MIXED TO BEARISH
RESIST 2:9270
RESIST 1:9050            
SUP1:8700
SUP2:8580
STRATEGY: SELL ON RISE

CS SOYABEAN (APRIL) OVERVIEW:
TREND  MIXED TO BEARISH
RESIST 2:3405
RESIST 1:3395
SUP1:3370
SUP2:3350
STRATEGY:  SELL ON RISE

CS CHANA  (APRIL) OVERVIEW:                        
TREND  MIXED TO BEARISH
RESIST 2:3690
RESIST 1:3660
SUP1:3600
SUP2:3580
STRATEGY: SELL ON RISE

CS DHANIYA (APRIL) OVERVIEW:
TREND   MIXED TO BEARISH
RESIST 2:6770
RESIST 1: 6640            
SUP1:6335
SUP2:6170
STRATEGY: SELL ON RISE

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Sunday, 22 February 2015

AGRI COMMODITY MARKET LEVELS-23 FEB 2015

Free Commodity Tips

CS TURMERIC   (APRIL) OVERVIEW:
TREND  BULLISH
RESIST 2:9430
RESIST 1:9255            
SUP1:8845
SUP2:8610
STRATEGY: BUY ON DIPS

CS SOYABEAN (APRIL) OVERVIEW:
TREND  MIXED TO BEARISH
RESIST 2:3440
RESIST 1:3415
SUP1:3375
SUP2:3360
STRATEGY:  SELL ON RISE

CS CHANA  (APRIL) OVERVIEW:                        
TREND  MIXED TO BEARISH
RESIST 2:3710
RESIST 1:3685
SUP1:3645
SUP2:3625
STRATEGY: SELL ON RISE

CS DHANIYA (APRIL) OVERVIEW:
TREND   BEARISH
RESIST 2:6815
RESIST 1: 6625            
SUP1:6315
SUP2:6200
STRATEGY: SELL ON RISE

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Commodity Market News-23 Feb 2015

Free Commodity Tips

MCX SILVER March contract was trading at Rs 36325 up Rs 11, or 0.03 percent. The SILVER rate touched an intraday high of Rs 36329 and an intraday low of Rs 36208. So far 1038 contracts have been traded. SILVER prices have moved down Rs 9652, or 20.99 percent in the March series so far.

MCX GOLD April contract was trading at Rs 26219 down Rs 58, or 0.22 percent. The GOLD rate touched an intraday high of Rs 26228 and an intraday low of Rs 26176. So far 759 contracts have been traded. GOLD prices have moved down Rs 3021, or 10.33 percent in the April series so far.

Crude Oil futures fell by Rs 96 to Rs 3,217 per barrel today as speculators reduced positions amid a weakening trend in Asian trade ahead of US stockpile report.

Nickel prices rose
0.42% to Rs 876.60 per kg in futures trading today as participants enlarged speculative positions.

Copper prices rose by 0.36% to Rs 358.10 per kg in futures trade today amid a firming trend in global market and rising spot demand.

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Thursday, 19 February 2015

Commodity Market News-20 Feb 2015

Free Commodity Tips

Gold prices gained during session ending Thursday. The prices ended the day at Rs 26266 per 10 grams against Rs 26137 per 10 grams. Correction below Rs 26000 and Rs 25800 are the immediate suport zones.

MCX Silver futures are trading at Rs 36912 per kg, upRs 616 per kg or 1.75% on the day.

Crude Oil declined during the trading session on Thursday. The prices  settled at Rs 3246 per barrel against Rs 3313 per barrel a day before. Crude Oil tested a high of Rs 3300 and a low of Rs 3128 per barrel.

MCX Copper February expiry contract was static for the session ending Thursday. The metal remained dull and in ranges, after rally seen a day before. Copper ended the day at Rs 359.45 against 359.50 per kg on 19 Feb 2015. Gains are expected to get resisted at Rs 362 and 365 per kg.

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AGRI COMMODITY MARKET LEVELS-20 FEB 2015

Free Commodity Tips

CS TURMERIC   (APRIL) OVERVIEW:
TREND  BULLISH
RESIST 2:9090
RESIST 1:8980            
SUP1:8750
SUP2:8620
STRATEGY: BUY ON DIPS

CS SOYABEAN (APRIL) OVERVIEW:
TREND  MIXED TO BEARISH
RESIST 2:3425
RESIST 1:3410
SUP1:3375
SUP2:3360
STRATEGY:  SELL ON RISE

CS CHANA  (APRIL) OVERVIEW:                        
TREND  MIXED TO BEARISH
RESIST 2:3750
RESIST 1:3720
SUP1:3675
SUP2:3655
STRATEGY: SELL ON RISE

CS DHANIYA (APRIL) OVERVIEW:
TREND   BEARISH
RESIST 2:6850
RESIST 1: 6720            
SUP1:6520
SUP2:6445
STRATEGY: SELL ON RISE

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Wednesday, 18 February 2015

Commodity Market News-19 Feb 2015

Free Commodity Tips

Gold prices rose sharply by Rs 233 to Rs 26,370 per 10 grams in futures trade today as participants created speculative positions. At the Multi Commodity Exchange, gold for delivery in April shot up by Rs 233, or 0.89%, to Rs 26,370 per 10 grams in a business turnover of 717 lots.

Silver prices
jumped by Rs 521 to Rs 36,799 per kg in futures trading today as speculators indulged in enlarging their positions. At the Multi Commodity Exchange, silver for delivery in March rose by Rs 521, or 1.44%, to Rs 36,799 per kg in a business turnover of 1,533 lots.

Nickel prices gained 0.35% to Rs 893.40 per kg in the futures trade today as speculators enlarged positions, supported by rising demand from alloy-makers in the spot market.

MCX Feb Copper; “bullish engulfing” candlestick pattern on daily charts renders that the trend remains positive and further gains can see towards 365 & 366 levels. Hence, any dip can accumulate fresh longs at 359 levels.

NCDEX Apr Soya bean rose to as high as 3464 levels before making a temporary top there and turned into weak mode by forming an “inverted hammer” candlestick pattern on daily charts. This can drag the prices further down towards 3365 & 3327 levels.

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AGRI COMMODITY MARKET LEVELS-19 FEB 2015

Free Commodity Tips

CS TURMERIC   (APRIL) OVERVIEW:
TREND  BULLISH
RESIST 2:8950
RESIST 1:8830            
SUP1:8570
SUP2:8445
STRATEGY: BUY ON DIPS

CS SOYABEAN (APRIL) OVERVIEW:
TREND  MIXED TO BEARISH
RESIST 2:3485
RESIST 1:3445
SUP1:3385
SUP2:3365
STRATEGY:  SELL ON RISE

CS CHANA  (APRIL) OVERVIEW:                        
TREND  BULLISH
RESIST 2:3770
RESIST 1:3745
SUP1:3685
SUP2:3640
STRATEGY: BUY ON DIPS

CS DHANIYA (APRIL) OVERVIEW:
TREND   BEARISH
RESIST 2:7200
RESIST 1: 7000            
SUP1:6715
SUP2:6615
STRATEGY: SELL ON RISE

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Tuesday, 17 February 2015

Commodity Market News-18 Feb 2015

Free Commodity Tips

Gold:
Gold and silver fell to six-week lows, while platinum fell to the lowest since 2009, on signs that Greek banks will continue to get emergency funding despite a breakdown in debt talks between their government and euro zone partners.

Silver:
Silver tumbled 5.2 percent to a six-week low of $16.24 an ounce. Talks between Greece and euro zone finance ministers over the country's debt crisis broke down on Monday when Athens rejected a proposal to request a six-month extension of its international bailout package as "unacceptable".

Crude Oil:
Oil closed up after a weak start on Tuesday, with Brent crude rising to a 2015 high of $63 a barrel as short-covering returned to a market depressed earlier by worries about euro zone stability.

Natural Gas:
U.S. natural gas futures fell nearly 2 percent on Tuesday, with traders taking profit from last week's rally as analysts cautioned that cold weather and higher heating demand could be offset by large gas supplies in storage.

Base Metals:
Copper and other base metals fell on Tuesday on concerns about demand in China and following the breakdown in debt talks between Greece and its European partners.

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Sunday, 15 February 2015

AGRI COMMODITY MARKET LEVELS-16 FEB 2015

Free Commodity Tips

CS TURMERIC   (APRIL) OVERVIEW:
TREND  MIXED TO BEARISH
RESIST 2:8140
RESIST 1:8080            
SUP1:7935
SUP2:7850
STRATEGY: SELL ON RISE

CS SOYABEAN (APRIL) OVERVIEW:
TREND  MIXED TO BEARISH
RESIST 2:3430
RESIST 1:3410
SUP1:3380
SUP2:3365
STRATEGY: SELL ON RISE

CS CHANA  (APRIL) OVERVIEW:                        
TREND  MIXED TO BEARISH
RESIST 2:3665
RESIST 1:3640
SUP1:3595
SUP2:3570
STRATEGY: SELL ON RISE

CS DHANIYA (APRIL) OVERVIEW:
TREND   MIXED TO BEARISH
RESIST 2:7420
RESIST 1: 7350            
SUP1:7230
SUP2:7185
STRATEGY: SELL ON RISE

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Commodity Market News-16 Feb 2015

FreeCommodityTips

Indian gold prices were at a premium of $2-$3 an ounce over the international benchmark and are expected to remain in the same range in the short term, according to trade sources.

Copper prices fell 0.17 per cent to Rs 356.70 per kg in futures trade today as speculators offloaded positions.

Oil prices have marched higher. Brent rose over 3 per cent in Friday's session, about 6 per cent on the week and nearly 16 per cent on the month. Gains heightened after its front-month contract switched on Thursday at a premium.

Nickel prices rose 0.34 per cent to Rs 912.50 per kg in the futures market today as speculators enlarged positions

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Friday, 13 February 2015

DAILY MCX NEWS LETTER-13 FEB 2015

Best Commodity Tips
BULLION

GOLD moved higher in COMEX on Thursday on a weaker dollar and data showing the U.S. economic recovery remains fragile. The dollar eased against a basket of international currencies, giving gold prices a boost. Gold advanced further after two reports showed the U.S. continues to encounter potholes on the road to recovery. In a worrisome signal of weak consumer spending, January retail sales fell 0.8%. In addition, initial jobless claims, a measure of layoffs, rose by 25K to a seasonally adjusted 304K in the week ended Feb. 7. Investors also continue to watch Greece and Ukraine. Eurozone officials are wrangling over Greece's debt problems, while  Ukraine peace talks yielded a cease-fire deal with Russia-backed separatists.

BASE METAL

Best Commodity Tips

COPPER  prices rose on Thursday, as investors cheered reports of a cease-fire agreement between Russia and Ukraine. Russian President Vladimir Putin confirmed that a cease fire deal with Ukraine starting February 15 had been reached, following months of violence. The U.S. dollar index, which measures the greenback's strength against a trade-weighted basket of six major currencies, went down. A weaker dollar boosts demand for base metals as an alternative investment and makes dollar-priced commodities cheaper for holders of other currencies. Market sentiment remained subdued after talks between Greece and European Union officials ended without an agreement, though both sides said there was still hope for a deal. Further talks are due to be held next Monday.

ENERGY

Best Commodity Tips

CRUDE OIL futures climbed on Thursday, arresting a two-session losing streak, as industry spending cuts and a weaker dollar spurred buying. The chief executive of Shell said supply might not be able to keep up with growing demand after oil companies slashed budgets following a near-halving of oil prices since June. U.S. crude reached $51.41 on Thursday before paring gains after oil services firm Genscape reported a large build at the Cushing, Oklahoma, storage hub and delivery point for the U.S. crude contract. Traders pointed to a weaker dollar as boosting buying on Thursday, as the drop made dollar-priced commodities such as oil cheaper. Natural gas futures extended losses on Thursday, after data showed that U.S. natural gas supplies fell less than forecast last week, underlining concerns over weak demand. 

BULLION , ENERGY & BASEMETAL OVERVIEW:-

CS GOLD (APRIL) OVERVIEW:  
TREND  MIXED TO BEARISH 
RESIST 2:26900 
RESIST 1:26710 
SUP1:26425 
SUP2:26320 
STRATEGY: SELL ON RISE  

CS SILVER (MARCH) OVERVIEW: 
TREND  MIXED TO BEARISH 
RESIST 2:37950 
RESIST 1:37650 
SUP1: 36925 
SUP2:36620 
STRATEGY: SELL ON RISE 

CS CRUDE (FEBRUARY) OVERVIEW:   
TREND  MIXED TO BULLISH 
RESIST 2:3270 
RESIST 1:3220 
SUP1:3100 
SUP2:3030 
STRATEGY: BUY ON DIPS 

CS NATURAL GAS (FEBRUARY) OVERVIEW: 
TREND  MIXED TO BEARISH 
RESIST 2:185 
RESIST 1:177 
SUP1:164 
SUP2:159 
STRATEGY: SELL ON RISE 

CS COPPER (FEBRUARY) OVERVIEW: 
TREND  MIXED TO BULLISH 
RESIST 2: 365 
RESIST 1: 361 
SUP 1: 352.50 
SUP 2: 347.50 
STRATEGY: BUY ON DIPS 

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Thursday, 12 February 2015

Commodity Market News-13 Feb 2015

Free Commodity Tips

BULLION

Gold April and Platinum futures have added 0.5 per cent each at $ 1,226.70 and $ $ 1,205.10, reseptectively.Silver March future has spurted nearly a per cent at $ 16.936.

ENERGY

Crude Oil March future is up 0.4 per cent at $ 51.42.Brent Oil April future has gained 0.3 per cent at $ 59.52.Natural Gas March future has advanced 0.6 per cent at $ 2.732.

The Crude Oil MCX February futures bounced back into green after two day of significant fall. On Thursday, the energy futures gained to reach a high of Rs 3,198 per barrel and ended the session with a prominent gain of over 3(Rs 95) at Rs 3,170 per barrel on account of renewed buying in NYMEX Crude Oil prices.

The MCX Natural Gas
February futures after facing strong resistance above the 20-DMA at Rs 180, however reversed its gains in yesterday's trade and ended with a significant loss of over 3 per cent at Rs 169 following NYMEX Natural Gas futures on bearish storage data.

BASE METAL

Copper March future has gained 0.3 per cent at $ 2.611.

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AGRI COMMODITY MARKET LEVELS-13 FEB 2015

Free Commodity Tips

CS TURMERIC   (APRIL) OVERVIEW:
TREND  MIXED TO BEARISH
RESIST 2:8320
RESIST 1:8160            
SUP1:7910
SUP2:7820
STRATEGY: SELL ON RISE

CS SOYABEAN (APRIL) OVERVIEW:
TREND  MIXED TO BEARISH
RESIST 2:3420
RESIST 1:3410
SUP1:3390
SUP2:3360
STRATEGY: SELL ON RISE

CS CHANA  (APRIL) OVERVIEW:                        
TREND  MIXED TO BULLISH
RESIST 2:3675
RESIST 1:3660
SUP1:3625
SUP2:3600
STRATEGY: BUY ON DIPS

CS DHANIYA (APRIL) OVERVIEW:
TREND   CONSOLIDATE
RESIST 2:7500
RESIST 1:7425            
SUP1:7255
SUP2:7165
STRATEGY: SELL ON RISE

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Agri Commodity Market Level-12 Feb 2015

Free Commodity Tips

AGRI COMMODITY
CS TURMERIC   (APRIL) OVERVIEW:
TREND  MIXED TO BULLISH
RESIST 2:8365 RESIST 1:8295             SUP1:8110 SUP2:7990
STRATEGY: BUY ON DIPS

 
CS SOYABEAN (APRIL) OVERVIEW:
TREND  BEARISH
RESIST 2:3410 RESIST 1:3390 SUP1:3360 SUP2:3345
STRATEGY: SELL ON RISE


CS CHANA  (APRIL) OVERVIEW:                        
TREND  BULLISH
RESIST 2:3695 RESIST 1:3670 SUP1:3610 SUP2:3585
STRATEGY: BUY ON DIPS


CS DHANIYA (APRIL) OVERVIEW:
TREND   BEARISH
RESIST 2:7500 RESIST 1: 7400             SUP1:7255 SUP2:7200
STRATEGY: SELL ON RISE


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MCX Silver drops 0.6%,Natural Gas extends gains

Free Commodity Tips
 
The MCX Silver March is trading into the negative zone following the NYMEX Silver futures.

The Silver price in India opened today with a loss of Rs 147 (0.4 per cent) at Rs 37,250. Soon, the precious metal has extended its losses and has tumbled around Rs 350 (0.9 per cent) to touch a low at Rs 37,050.

Now, the Indian Silver has dropped 0.6 per cent (Rs 222) to Rs 37,175.

The MCX Natural Gas has extended its gains for the fourth straight day on the back of rise in International Natural Gas prices.

Currently, the MCX Natural has gained 0.7 per cent at Rs 176. The counter has seen trades of around 3,661 contracts on the MCX.

The MCX Crude Oil February future started the day marginally in green at Rs 3,078 from previous close of Rs 3,075 on the back of positive International prices.

Thereafter, the Crude Oil has extended its gains and touched a high of Rs 3,103.

Commodity Market News-12 Feb 2015

Free Commodity Tips

Gold demand fell in 2014 in countries like India and China, two of the largest importers worldwide. However, India regained the top slot from its neighbour in terms of demand for the yellow metal, India’s gold imports, too, despite a sharp rebound in second half of 2014, remained lower than previous year, data from the World Gold Council showed.

MCX SILVER May
contract was trading at Rs 37385 down Rs 280, or 0.74 percent. The SILVER rate touched an intraday high of Rs 37500 and an intraday low of Rs 37362.

Crude Oil futures prices rose notably by 0.70% to Rs 3,178 per barrel today as speculators engaged in enlarging positions, tracking a firming trend in Asia.

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