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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