Sunday, 9 September 2012

Commodity market open positive


The Multi Commodity Exchange (MCX) COMDEX opened positive after a fall of 0.10% on Saturday. It is currently trading higher by 13.56 points, or 0.34%, at 3,989.15 at 10.01 a.m. after opening at 3,979.54.

Other index like MCXMETAL is trading upward by 23.99 points, or 0.45%, at 5,414.50 after opening at 5,400.77. MCXAGRI is trading up 6.60 points, or 0.24%, at 2,738.60 after opening at 2,743.67. Meanwhile MCXENERGY is trading up 7.97 points, or 0.22%, at 3,587.99 after opening at 3,584.17.
 
Leaders at the MCX were COTTON CAKE AKOLA - August contract, (3.01%) with open interest of 5, Cardamom - July contract, (1.64%) with open interest of 108, Wheat - September contract, (1.38%) with open interest of 13, COPPER1KG - August contract, (0.74%) with open interest of 22,010, and Wheat - August contract, (0.68%) with open interest of 450.
 
Top Losers at the MCX tips are POTATOTRWR - September contract, (3.89%) with open interest of 5, POTATOTRWR - August contract, (2.86%) with open interest of 108, POTATOTRWR - July contract, (2.47%) with open interest of 13, Nickel - September contract, (2.33%) with open interest of 22,010, and Cardamom - October contract, (2.22%) with open interest of 450.

Weekly commodity outlook from CapitalVia Global Research

Following is the weekly commodity outlook from CapitalVia Global Research:

Gold raced to a six-month high on Friday, after US jobs growth slowed more than expected in August, possibly creating the way for the Federal Reserve to announce additional stimulus for its sluggish economy. Beginning of festivals season in India also acted as the positive sentiment for the Gold prices. Technically, gold is in bullish trend. In the coming week Rs 32,500 and Rs 33,300 will act as a major resistance and Rs 31,200 and Rs 30,600 will act as a major support for MCX Gold October futures. For the next week traders can use buy on lower level strategy, if gold sustains above the level of 31,700 then above the level of 32,000 it can test the level of 32,500/ 32,900. 

Technically, silver is also in bullish trend. For the coming week, Rs 65,000 and Rs 66,700 will act as major resistance whereas Rs 61,400 and Rs 60,000 will act as major supports for MCX Silver December futures. For the next week traders can use buy on lower level strategy, if silver sustains above the level of 63,500 then above 64,000 silver can test the level of 65,000/ 66,200. 

Copper rose to its four months high on Friday due to China`s approval of  USD 157 billion infrastructure spending programme, European Central Bank`s plan to shore up its region`s economy and on the hopes for stimulus package in US for its sluggish economy. Technically, copper is in bullish trend. For the coming week 455 and 467 will act as major resistance levels and 434 and 418 will act as major support levels for MCX Copper November futures. For the coming week one should go for buy on lower level strategy in MCX Copper, if it sustains above the level of 445 then it can test the level of 455/ 465.

Last week crude oil settled down on lower levels as U.S. considered another release of emergency oil reserves that may potentially be much larger than the previous one and sluggish non-farm payroll data. Technically, crude oil is consolidating on the charts. For the coming week 5,200 and 5,050 will act as major supports and 5,440 and 5,600 will act as major resistance for MCX Crude Oil. For the next week traders can use buy on lower level strategy, if MCX Crude sustains above the level of 5,350 then above the level of 5,400 it can test the levels of 5,475/ 5,550.

Wednesday, 5 September 2012

Commodity bets: Trading tips for copper, zinc, silver

Rajini Panicker, MF Global Commodities India asks investors to go long on Copper MCX November at levels of Rs 428-429. She also advises to place a stop loss around Rs 427 and look for target levels of Rs 435-437.

Ashish Kyal, Waves Strategy Advisors suggests a buy on Crude MCX tips. It has been moving within the range of Rs 5290-5420 over the past few days after a good rally. Accordign to him, as long as Rs 5290 holds, price can bounce back from here. NYMEX Crude has an important support of USD 94. MCX Crude can be bought on move above Rs 5330 with a stop loss of Rs 5290 and target of Rs 5400.

Sumeet Bagadia of Destimoney Commodities advises intraday moves on zinc and is expecting Zinc prices to move up and touch levels of Rs 105.70. For intraday, one can go long at around Rs 103.50 with a stop loss of Rs 102.50 on downside and upside target of Rs 104.70 and above that Rs 105.70.

Dipen Shah of Stayvan.com said silver is expected to see some profit booking as it is reaching an over extended price period. Today we could expect some kind of profit booking that would come in. So traders can specifically short silver at Rs 62000 with a stop loss of Rs 62150 and target of Rs 61800 on lower side.

Gold set for dramatic fall if central bankers disappoint

The recent rally in gold, which touched a near six-month high this week, is unlikely to last, say commodity trading tips analysts, who forecast prices could fall 10% over the next month if central bank actions disappoint.

Trading close to key resistance level USD 1,700 an ounce, gold prices have had a bull run over the past one month, rising 5.5%, on expectations of monetary easing by both the US Federal Reserve and the European Central Bank (ECB).

But Warren Gilman, CEO of research firm CEF Holdings, says this rally has not been justified given the lack of clarity from policymakers in the West.

The ECB is scheduled to meet Thursday and the Fed next week, and Gilman warns that a sharp fall in gold prices could be coming very soon if the outcome of these central bank meetings disappoints.

“I’m expecting more rhetoric and little in the way of concrete action. The fall in gold could happen as quickly as this week, as we start to see Europe hasn’t been sorting itself out and the solution to solving the debt crisis is not near,” Gilman told CNBC.

Andrew Su, CEO of Sydney-based commodity brokerage Compass Markets, agrees that gold is vulnerable to a “dramatic” downturn as he believes the ECB is unlikely to provide any definitive plans in terms of its bond-buying program.

“We have significant resistance at USD 1,700 and have a lot of opportunity for market disappointment over the next couple of days,” Su said.

He adds that gold could hit USD 1,530, a key technical support level, and then even move below very quickly to USD 1,500. “We are looking to short gold at current levels,” he said.

Dhiren Sarin, Chief Technical Strategist,  Asia-Pacific at Barclays, says while he expects a temporary pullback in gold in the coming days given the “significance” of the psychological hurdle at the USD 1,700 level, he is ultimately looking for the precious metal to move higher.

“As long as gold stabilizes in the USD 1,625-1,640 area, we would view a pullback as a healthy development and set up for further gains,” Sarin said.  

Thursday, 21 June 2012

NCDEX Tips and Trend Today

NCDEX Trend For Pepper:
NCDEX Pepper is looking to trade in a positive trend today. According to market analysis monsoon rain has increase the demand of pepper in market. Traders are not selling pepper on current levels and expecting more bull trend in NCDEX pepper. However NCDEX pepper has a bull trend but it has a critical support at 40330 and a strong resistance of 40967.

NCDEX Jeera Trend:
NCDEX Jeera was treded month low in this week. Market report suggest that traders are believing that the jeera will surely recover from its down trend and will get a bullish position in coming trading sessions. It has a stron resistance at 13786 and a support at 13330.

NCDEX Tips:
Buy NCDEX Pepper July above 40550 with a stoploss of 40390 to get target of 40900-41400.
Buy advised in NCDEX Chana June at 4130, Target of 4160 to 4190 with a stoploss of 4110.
Buy Cardamom July around 1270, Target should be arround 1290-1310, put Stoploss of 1255.
 

Tuesday, 12 June 2012

Commodity tips provider mcx

America’s
crude oil reserves have reached record levels in 22 years. The unemployment figures rise
and fall of the crude oil demand estimates.
Meanwhile, OPEC increased oil
production has reached the upper end of the last 4 years.

Gold and silver do not see this pressure. International and domestic
market is on the decline in business.
Although weak from Rs 29,000 crore on MCX Tips gold prices
remain above the Comaks gold has up to $ 1,560.
Around 1 per cent fall on MCX
Silver is trading at Rs 53 720.

Base metals also declined today. On mcx tips free , copper, lead,
aluminum, nickel and zinc is the weakness of nearly 0.5 per cent.
It is important that this
money has improved a bit after the show weakness.
Copper demand is estimated to
decrease the pressure is being witnessed.
Domestic market price of
copper has come down to Rs 420.
Decline in the international market is looking at the
effect of copper in the domestic market.
Today has been a sharp
decline in soybean.
ncdex tips free soybean prices have come down to Rs 3,400. International markets also
declined.
Poor economies of the world’s coffee is cheaper.
Arabica coffee prices
so far this year ha