Friday, June 15, 2012

MCX NCDEX Commodity Trading Tips For Today

As the week culminates, global shares and commodities were seen rising as market expectation stood high over the possible policy action by the central banks to hold up economic growth. Optimism after reports that central banks of the major economies stood ready to act in the event of any financial turmoil caused by the election in Greece over the weekend lifted the overall sentiments.

Here are some free trading suggestion for today:

MCX Commodity Tips
  • MCX Gold Aug: Gold prices are witnessing selling pressure on higher end, one should remain cautious unless closes above 30180 in long position at these levels. If fails to sustain 30150 on intraday basis one can sell with a stop loss above 30300.
  • MCX Silver July: Silver prices are expected to trade within a broad range from 55250 to 53500 one can trade within the range. For fresh buying one should wait for a closing above 55250.
  • MCX Copper Jun: Copper prices are expected to witness a range bound move as from 414 to 406, one can look for buying opportunity around 409 with a stop loss below 405. Fresh buying could witness above 415.
  • MCX Crude Oil Jun: Crude prices are witnessing a range bound move. one can buy around 4650 with a stop loss of 4600 targeting 4720. Oscillators suggesting a flat to positive move ahead.
  • MCX Lead Jun: Lead prices are expected to trade positive for the day, one can long with a stop loss below 105.
  • MCX Cardamom July: A break of 1215 with sufficient volume may see a sharp correction towards 1200 followed by 1180 levels.
  • MCX Menthaoil June: If prices are able to prop up above 45 day EMA support of 1389 then an upsurge of prices could be seen towards 1460 region.

NCDEX Agri Tips
  • NCDEX Chana July: In case of consistent trades below 4190, we expect continuation of selling pressure towards 4040 levels.
  • NCDEX Soybean July: A break of 3430 is required for the next level bullish rally to start towards 3500 levels. Otherwise, we expect prices to trade in range bound.
  • NCDEX Chilli July: Even though general sentiments remain positive, inability to sustain above 5310 then a mild lower correction is expected towards 5080 levels.
  • NCDEX Jeera July: Any break of 13080 would see a major fall towards 12980 followed by 13000 levels.
  • NCDEX Dhaniya July: If prices are able to break below 3520 levels with streaming volume, we expect continuation of lower correction towards 3440 followed by 3350 levels in the near term.
  • NCDEX Maize July: Consistent trade above 1160 could result in bullish bias to re enter in the counter and lift the prices towards 1178 levels.
  • NCDEX Turmeric July: Inability to sustain above 3756, we expect to see prices to drag lower towards 3600 followed by 3500 levels in the near term.

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