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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Commodity Market News-20 Feb 2015

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

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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Commodity Market News-19 Feb 2015

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

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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Commodity Market News-18 Feb 2015

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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AGRI COMMODITY MARKET LEVELS-16 FEB 2015

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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