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MCX Gold
Bullion, which was flat for the week, initially tumbled in the face of a dollar rally and fading hopes of further U.S. monetary stimulus after a third straight monthly growth in U.S. Employment. Prices have support at Rs27,570/10gms and resistance at Rs27,950/10gms.
Trading Call: Sell MCX Gold April contract at Rs 28,050 -28,100 with stop loss Rs 28,250 and target Rs 27,800 and 27,700.
MCX Silver
Silver May contract was down by 0.17% to Rs 58,293 per kg, SilverM April contract was down by 0.17% to Rs 58,312 per kg and SilverMIC April contract was down by 0.18% to Rs 58,315 per kg. Prices have support at Rs57,700/kg and resistance at Rs58,900/kg.
Trading Call: Sell around 58200 levels with a stop loss placed above 59100 levels for targets of 57000 levels.
MCX Copper Tips
Copper is lower by 0.52%. MCX Copper: Prices have support at 428.50 and resistance at 435. Technically we would recommend buying copper contract on MCX at around Rs 429 levels. Stop loss recommended would be at around Rs 425-426 and target of Rs 435-436.
MCX Crude Tips
We recommends buying crude oil on dips. Any dips to Rs 5,300-5,310 would be a good opportunity to buy MCX crude oil with a target of Rs 5,450 on the upside and a stop loss of Rs 5,275.
