Thursday, April 30, 2015

NCDEX Tips Today, Base Metal Updates for 30th April 2015

NCDEX Tips Today: 30th April 2015
  • MCX CPO Apr trading down today, as prices are trading well below 441, could see downfall towards 435/432/428 levels.
  • MCX Cardamom May trading in red side today While trading below 874,expect to see lower correction towards 810/800 levels.
  • NCDEX Castorseed May trading bearish today, Profit booking might see towards 3700/3650 levels.
  • NCDEX RMseed May is trading down, As per daily candle stick pattern suggests bearish reversal may see towards 3780/3740 levels.
  • NCDEX Refined Soy Oil June has a down trend today, a mild profit booking could see towards 579 levels.
  • NCDEX Dhaniya May trading bearish today, Long liquidation pressure would see towards 9890 levels. 
Base Metals Updates Today: 30th April 2015
Yesterdays’ US GDP remained bearish for the metals on slowing demand but Fed unchanged policy decision triggered dollar to fall against commodities. Copper futures capped the longest rally in six months as gains in the U.S. housing market eased concern that a slowing broader economy will erode metal demand. U.S. aluminum premiums AL-PREM have plunged by as much as 20% in the past week, reaching their lowest in more than a year as imports flood into the last remaining bright spot in a worsening global market. Lead and Zinc also gained on reduction in stocks on LME. Nickel jerked after long consolidations above $13500 on mining strike emerged supply disturbances. One can go long in the metals as risky on rally driven from euro gains and dollar weakness likely to be continued. Aluminum and nickel will remain best performer for the day. 

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