MCX Gold Trend
Gold that showed strong co-relation with international prices, continued its record setting feat and registered a huge rise of Rs 3,440 or 12.65 percent till December 22, 2012, driven by all-round buying support. In the year 2011, it had spurted by Rs 6,605 or 32.09 percent. On COMEX Major Support is at $1700 and may got Bearish trend below $1700. On MCX we suggest a sell at 30840 with a Stop loss of 30890 and the Target at 30760.
MCX Silver Trend
Silver too was in great demand scoring impressive rise of Rs 7,220 or 14.17 per cent on December 22, over its last year-end close though remained below the intra-trade all-time high of 75,020 recorded last year (April 25, 2011). COMEX Silver has Major Support at $29 and may go to Bearish below $32. on MCX Silver we suggest a Sell at 57950, Stop loss 58200, Target 57550.
NCDEX Tips For Today:
- Chana Jan NCDEX: After Friday’s profit booking, prices bounced back on Saturday and later settled at 4041 levels. As prices are managed to trade well above the 13 and 22 day EMA supports, anticipate a pullback rally towards 4083 followed by 4100/4140 levels. Besides, daily RSI and MACD are also presenting positive momentum. Conversely, any trade below 3975 could call for a lower correction.
- Kapas April NCDEX: A break above 1050 with volume could see prices trading higher towards 1064 followed by 1082 levels.
- Maize Jan NCDEX: Inability to move above 1410, expect further selling pressure targeting 1382/1375 or even lower to 1350 region.
- Pepper Feb NCDEX: For the day, if prices are trade well below the cluster EMA resistances of 35000 regions, expect a sell off towards 34400 followed by 34000 /33500 levels. However, unexpected rise above 36000 would see a next leg of bullish wave taking prices towards 36400 followed by 37000 levels.
