Commodity Market News-13 March 2015

The MCX Silver March future is trading on a Positive zone.
The bullion white metal started the day with a gain of Rs 97 (0.3 per cent) at Rs 35,422, tracking NYMEX Silver prices.

the precious white metal ended at Rs 35,325.

The MCX Silver March future has touched a high at Rs 35,488 - up (Rs 163) and a low at Rs 35,422.

The MCX Gold April future started the day on a positive note following the NYMEX Gold futures.

The bullion future opened with a gain of 0.2 per cent (Rs 65) at Rs 25,720. So far, the Indian Gold has touched a high at Rs 25,760 (up Rs 105 from the previous close).

Gold price in India is quoted at Rs 25,750 - up 0.4 per cent.

The MCX March futures for Natural Gas corrected after facing strong resistance above the 20-DMA (Rs 174) and 50-DMA (Rs 176) on the daily charts.

The energy futures rallied to a high of Rs 180, but however wiped out all the gains and ended with a significant loss of 3.7 per cent at Rs 172 following NYMEX Natural Gas prices despite data showed that US Natural Gas supplies fell more than expected last week.

The March MCX Crude Oil futures tumbled for the third day in row, owing to step fall in NYMEX Crude Oil prices amid an unexpected decline in US retail sales.

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Commodity Market News-12 March 2015

The MCX Crude Oil March future has extended its gains and touched a high of Rs 3,040 tracking the NYMEX Crude Oil prices.

The MCX Crude Oil has gained over a per cent at Rs 3,034. The counter has seen trades of around 12,069 contracts.

The MCX Silver March future is trading on a Positive zone. The bullion white metal started the day with a gain of Rs 124 (0.3 per cent) at Rs 35,173, tracking NYMEX Silver prices.

The MCX Silver March future has touched a high at Rs 35,177 - up (Rs 128) and a low at Rs 35,090.

The MCX Gold April future is trading on a negative note following the NYMEX Gold futures.

The bullion future started the day in a negative zone at Rs 25,660 - down (Rs 25).

Gold price in India is down at Rs 25,632 - down (Rs 53).

The March MCX Natural Gas futures rallied for the second consecutive day and jumped above the key moving averages like 20-DMA (Rs 175) and 50-DMA (Rs 178) to close with a surge of over 3.5 per cent at Rs 178.60 owing to smart rally in NYMEX Natural Gas prices.

MCX Natural Gas prices have raised some hopes of further rally. The commodity may trade with a positive bias as long as prices trade above Rs 177-odd level on the daily charts.

The energy futures are expected to face resistance around the higher-end of the Bollinger Band at Rs 185-odd level on the higher side.

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AGRI AND BULLIONS COMMODITY MARKET LEVELS-12 MARCH 2015

AGRI COMMODITY MARKET

CS TURMERIC   (APRIL) OVERVIEW:
TREND  BEARISH
RESIST 2:8400
RESIST 1:8200              
SUP1:7900
SUP2:7800
STRATEGY: SELL ON RISE

CS SOYABEAN (APRIL) OVERVIEW:
TREND  MIXED TO BULLISH
RESIST 2:3395
RESIST 1:3380
SUP1:3350
SUP2:3325
STRATEGY: BUY ON DIPS

CS CHANA  (APRIL) OVERVIEW:                        
TREND MIXED TO  BEARISH
RESIST 2:3720
RESIST 1:3695
SUP1:3645
SUP2:3620
STRATEGY: SELL ON RISE

CS DHANIYA (APRIL) OVERVIEW:
TREND  MIXED TO  BULLISH
RESIST 2:6580
RESIST 1: 6520              
SUP1:6395
SUP2:6325     
STRATEGY:  BUY ON DIPS

BULLIONS COMMODITY MARKET

CS GOLD (APRIL) OVERVIEW:
TREND BEARISH
RESIST 2: 26060
RESIST 1: 25870
SUP 1: 25575
SUP 2: 25465
STRATEGY: SELL ON RISE

CS SILVER (MAY) OVERVIEW:
TREND  BEARISH
RESIST 2:36200
RESIST 1:35630
SUP1:34680
SUP2:34310
STRATEGY: SELL ON RISE

CS CRUDE OIL (MARCH) OVERVIEW:                        
TREND  MIXED TO BEARISH
RESIST 1:3130
RESIST 2:3065
SUP1:2960
SUP2:2925
STRATEGY: SELL ON RISE

CS COPPER (APRIL ) OVERVIEW:
TREND MIXED TO  BEARISH
RESIST 2:373
RESIST 1:369            
SUP1: 362.50
SUP2:360.50
STRATEGY: SELL ON RISE

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Commodity Market News-11 March 2015

The MCX Gold April future started the day on a positive note following the NYMEX Gold futures.

The bullion future opened at the highest point of the day at Rs 25,950 - up 0.2 per cent (Rs 31) from the previous close.

Now, Gold price in India is trading on a flat note at Rs 25,928.

The MCX Silver May futures started the day on a positive note following the NYMEX Silver  futures.

The March MCX Crude Oil futures in yesterday's trade witnessed heavy losses and slipped below the key moving average the 50-DMA (Rs 3,095) and hit s low of Rs 3,052, before closing with significant loss of over 3 per cent (Rs 102) at Rs 3,061 due to sharp fall in NYMEX Crude Oil prices as US dollar hit 12-year high.

Further drop in MCX Crude Oil futures may take prices towards the lower-end of the Bollinger Band at Rs 2,985 on the daily charts.

MCX Copper April expiry contract closed lower on Tuesday.

The metal has declined below the psychological resistance of Rs 370 per kg.

Copper ended the day at Rs 367.70 per kg on 10 March 2015 against 374.05 per kg on 9 March 2015.

MCX Natural Gas March futures yesterday bounced back into the positive zone and ended with gain of 1.4 per cent at Rs 172, on account of renewed buying.

Further upward movement is possible only after a successful close above Rs 174-odd level the 20-DMA for the MCX Natural Gas March futures.

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Commodity Market News-09 March 2015

The MCX Natural Gas has widened its losses and touched a low of Rs 172.80 tracking the NYMEX Natural Gas prices.

The Natural Gas has tumbled nearly 3 per cent to Rs 173.50. The counter has seen trades of around 6,788 contracts on the MCX.

The open interest has jumped over 15 per cent to 8,043.

MCX Crude Oil March future also started the day in negative zone at Rs 3,120 from its previous close of Rs 3,138.

Currently, the MCX Crude Oil has declined 0.7 per cent at 3,117. The counter has seen trades of around 9,185 contracts.

The MCX April Gold futures witnessed a sharp fall in Friday’s trade and tumbled below the key moving average the 20-DMA (Rs 26,380).

On Friday, the precious yellow metal tested a low of Rs 25,982, before signing off the day with a significant loss of around 2 per cent (Rs 472) at Rs 26,012 owing to weakness in NYMEX Gold prices.

Further decline in MCX Gold futures may take prices towards the lower-end of the Bollinger Band at Rs 25,910-odd level on the daily charts.

The MCX Silver May futures started the day higher at Rs 36,000, soon the future has trimmed early gain and now is marginally down

the Silver price in India touched a high at Rs 36,000, but could not manage to hold the higher point.

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Commodity Market News-05 March 2015

The March MCX Crude Oil futures are facing strong resistance around the 20-DMA (Rs 3,180) for the past three trading sessions. On Wednesday, the energy futures tested a high above the short-term moving average at Rs 3,200, but however ended slightly below it with a gain of almost a per cent (Rs 25) at Rs 3,163 tracking NYMEX Crude Oil prices.
 

The Crude Oil prices are trading above the 50-DMA (Rs 3,120), However, the bias may turn positive in case the commodity is able to break and trade above Rs 3,180-odd level.
 

MCX Copper April expiry contract has been in a volatile trajectory this week.

The prices, which were trading higher in last two days ended on a lower note on Tuesday but again moved higher on Wednesday.

Copper ended the day above Rs 370 per kg, and settled the day at Rs 370.25 per kg.

The prices tested a high of Rs 371.6 per kg. The low for April expiry contract was at Rs 366.65 per kg.

Technical range for Copper is now forming around Rs 378 and 350 per kg.

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AGRI COMMODITY MARKET LEVELS-04 MARCH 2015

CS TURMERIC   (APRIL) OVERVIEW:
TREND   MIXED TO BEARISH
RESIST 2:8600
RESIST 1:8500            
SUP1:8300
SUP2:8200
STRATEGY: SELL ON RISE

CS SOYABEAN (APRIL) OVERVIEW:
TREND  MIXED TO BEARISH
RESIST 2:3400
RESIST 1:3380
SUP1:3355
SUP2:3340
STRATEGY: SELL ON RISE

CS CHANA  (APRIL) OVERVIEW:                        
TREND  MIXED TO BEARISH
RESIST 2:3710
RESIST 1:3695
SUP1:3665
SUP2:3645
STRATEGY: SELL ON RISE

CS DHANIYA (APRIL) OVERVIEW:
TREND   MIXED TO BEARISH
RESIST 2:6860
RESIST 1: 6530            
SUP1:6030
SUP2:5855
STRATEGY: SELL ON RISE

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Commodity Market News-04 March 2015

The MCX Crude Oil March futures are hovering between the 20-50-DMAs on the daily charts for the past two trading sessions.

Yesterday, the energy futures tested a low of Rs 3,083, before settling with a loss of 0.3 per cent (Rs 11) at Rs 3,138 after two day rally.

On the higher side, the commodity is expected to face resistance around 3,379-odd level - which is the higher-end of the Bollinger Band.

MCX Copper April expiry contract has been in a volatile trajectory this week.

The prices, which were trading higher in last two days ended on a lower note and reached the important support levels during the day.

Copper ended the day below Rs 370 per kg, and settled the day at Rs 366.65 per kg.

The prices tested a high of Rs 371.5 per kg which was its opening high.

The low for April expiry contract was at Rs 363.75 per kg.

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Commodity Market News-28 Feb 2015

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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Daily Outlook for Silver on 27 Feb

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

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

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

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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AGRI COMMODITY MARKET LEVELS-26 FEB 2015

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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Commodity Market News-25 Feb 2015

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

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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Commodity Market News-24 Feb 2015

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

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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AGRI COMMODITY MARKET LEVELS-23 FEB 2015

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

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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