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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Live MCX Commodity Tips For Today: 30th March '12

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MCX Bullion Trend

MCX Gold (April) Prices have support at Rs 28,030/10gms and resistance at Rs 28,250/10gms.

MCX Silver (May) : Prices have support at Rs 56,300/kg and resistance at Rs 57,000/kg.

MCX Tips

MCX Gold April:

Buy around 28,100 levels with a stop loss placed below 28,000 levels for targets of 28,425 levels.

MCX Silver May:

Buy around 56,500 levels with a stop loss placed below 56,000 levels for targets of 57,500 levels.

MCX Crude April:

Buy around 5,390 levels with a stop loss placed below 5,350 levels for targets of 5,440 levels.

MCX Natural Gas April:

Buy above 118 levels with a stop loss placed below 116.50 levels for a target of 121 levels.

MCX Copper April:

Buy above 431 levels with a stop loss placed below 428 levels for targets of 435 levels.

MCX Nickel March:

Sell around 900 levels with a stop loss placed above 910 levels for targets of 885 levels.

MCX Lead March:

Buy above 101 levels with a stop loss placed below 100 levels for targets of 103 levels.

MCX Zinc March:

Sell around 101.70 levels with a stop loss placed above 102.50 levels for targets of 100 levels.

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MCX Gold Silver Copper Updates: MCX Tips For Today

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Copper fell for the first time in three sessions, after reports that the US economy is on firmer footing, which pushed the dollar up and weakened the case for additional economic stimulus. Copper futures for May delivery closed slightly down at $3.88 per pound on the COMEX of the New York Mercantile Exchange. 

MCX Copper may note some decline tracking international exchanges however the downside remains capped. Now MCX Copper has a support at 419 and a resistance level on 444.

MCX Commodity Tips

MCX Gold April: 

Sell at Rs 28,350 - 28,400 with stop loss Rs 28,535 and target Rs 28,200 and 28,100.

MCX Silver May: 

Sell at Rs 57,500 - 58,000 with stop loss Rs 58,500 and target Rs 56,500 and 56,000.

MCX Crude April: 

Sell below 5,450 levels with a stop loss placed above 5,510 levels for targets of 5,350 levels.

MCX Natural Gas April: 

Buy around 118 levels with a stop loss placed below 116.50 levels for a target of 121 levels.

MCX Copper April:  

Sell around 436 levels with a stop loss placed above 440 levels for targets of 431 levels.

MCX Nickel March:  

Sell below 900 levels with a stop loss placed above 910 levels for targets of 885 levels.

MCX Lead March:  

Sell around 102 levels with a stop loss placed above 103 levels for targets of 100.80 levels.

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MCX Silver Tips and MCX Updates For Today

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Gold in the domestic market - the first decline in silver intact. 0.22 per cent down on MCX gold is trading at Rs 28203, while silver fell by 0.30 to Rs 57180, with levels being seen. Comaks on the gold - silver is not to stop the decline.

Spot gold prices were little changed, after buckling under a stronger dollar in the previous session as U.S. data tempered concerns of more stimulus from the Federal Reserve. Spot gold was little changed at $1,680.24 an ounce. Spot gold is currently trading at $1679.40. MCX Gold April is currently at 28256, it is trading down by 24 points for the day. Comex Silver is currently trading at $32.51 whereas MCX Silver May is currently trading at 57303, it is down by 102.

MCX Commodity Tips

MCX Gold (Apr)

Sell Gold below 28210 for the target of 28165-281000, with a stoploss of 28300.

MCX Silver (May)

Sell silver below 57200 for the target of 56700-56200, with a stoploss of 57900.

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MCX Silver Gold Updates and MCX Commodity Tips

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Gold Silver Updates

Gold futures may continue its upside momentum and can test 28,500 and silver 58,500 in near term but some profit booking at higher level cannot be denied. Gold edged down on Tuesday as it consolidated after its biggest daily gain since late January in the previous session when the U.S. Federal Reserve signaled it would keep interest rates low. A weaker U.S. dollar also supported gold after Federal Reserve Chairman Ben Bernanke said ultra-loose monetary policy was still needed to reduce unemployment even though the U.S. economy has shown signs of improvement, raising hopes of another round of quantitative easing.

MCX Commodity Tips

MCX Gold April: Buy around 28,400 levels with a stop loss placed below 28,300 levels for targets of 28,600 levels.

MCX Silver May: Buy above 57,800 levels with a stop loss placed below 57,300 levels for targets of 59,000 levels.

MCX Crude April: Sell below 5,470 levels with a stop loss placed above 5,510 levels for targets of 5,370 levels.

MCX Natural Gas March: Sell around 114 levels with a stop loss placed above 116 levels for a target of 111 levels.

MCX Copper April: Sell around 439.50 levels with a stop loss placed above 443 levels for targets of 435 levels.

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MCX Commodity Tips and MCX Updates For Today

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MCX Gold Tips

MCX Gold (Apr) prices are expected to trade higher to the tune of 28550 -28500. We recommend to buy on dips around 28280 -250. Prices should hold the support at 28100 on lower end. Prices were seen hovering in a positive territory, even though early trade possibly to take an edge down and such initial moves likely to find support at 28200 region for a roll back towards 28400/28490 or even higher.

MCX Silver Tips

MCX Silver (May) prices have started a new move on the upside and now the rally is expected to continue still 58300 initially followed by 58900/60000. however a direct dip below 56800 would be an early signal of renewed selling pressure. Silver prices are expected to test 58600-58800 on higher end. One should buy on dips around 57400. Oscillators are turning up.

Copper Updates

Our report suggest that Copper prices are taking resistance close to the previous top which is 440 levels. Stochastic is loosing its strength. We expect prices to correct up to levels of 435. Now Copper Prices have support at Rs433.50/kg and resistance at Rs442/kg.

MCX Commodity Tips

MCX Gold

Trading Call: Buy around 28400 levels with a stop loss placed below 28300 levels for targets of 28600 levels.

MCX Silver

Trading Call: Buy above 57800 levels with a stop loss placed below 57300 levels for targets of 59000 levels.

MCX Crude Oil

Trading Call: Sell below 5470 levels with a stop loss placed above 5510 levels for targets of 5370 levels.

MCX Copper

Trading Call: Sell around 439.50 levels with a stop loss placed above 443 levels for targets of 435 levels.

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MCX, MCX Tips and Copper Updates For Today

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MCX gold and silver continues to slow. 0.04 %, with strong gold is trading at Rs 28109. Silver has reached 0.11 % per cent to Rs 56500. MCX crude oil has nearly 0.18 per cent and is trading at Rs 5489. The consolidation of 0.5 per cent on MCX Copper is trading at Rs 432.05.

We advise investors to

MCX gold (April futures): Buy - 28150, stoploss of Rs - 28000 and the target - 28290

MCX mentha oil (April futures): Sell - 2200, stoploss of Rs - 2290 and the target - 2000

MCX Natural Gas (April futures): Buy above 125, Stoploss of Rs -122 and the target - 128-130

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MCX, MCX Tips and Copper Updates For Today

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MCX Gold Silver Tips

Despite the support of currency gold remains below Rs 28,000. What is certain is that the market analysts were talking of last year, gold up, gold down in the target are the same today. So the big question now arises whether gold is down gracefully.

Gold prices are witnessed a bounce back from the support at 27700-750, as long as prices are holding above 27700 on closing basis prices are expected to trade positive.

Silver prices have broken the important support at 57000 on closing basis,which seems to be negative for the white metal. One should sell on rise around 56800-57000. we recommend to exit long position. Oscillators are heading down.

Trading Call: Buy MCX Gold above 27850 level with a stop loss of below 27700 level to get target of 28100 levels.

Trading Call: Sell MCX Silver below 56800 level with a stop loss of above 57200 level for targets of 56000 levels.

Copper Updates

Copper prices are hold the support at the middle Bollinger band. Prices are expected to test 435 -436 on higher end. Maintain a stop loss below 426. Oscillators are in positive territory. Our Technicle report suggest that prices have reversed after taking support at 428 levels. Stochastic is in a buy mode. We expect prices to go up to levels of 435.

Trading Call: Buy MCX Copper above 431 levels with a stop loss placed below 428 levels for targets of 435 levels.

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MCX, MCX Tips and Trend, MCX Updates For Today

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MCX Gold Silver Updates

The price had a retest of trend line resistance C at Rs.28 500 level but failed to breach it to the upside. The 14-period RSI is at trend line resistance below the 50 mark which indicates short-term bearish momentum. MCX silver in range of 57000-58000. Comex gold futures prices ended the U.S. day session higher in quieter trading Monday. The market saw short covering and bargain hunting buying interest and is working to consolidate recent price action on the charts.

Trading Call - Go short in MCX Gold at Cmp of 27850, target Rs.27170, stop loss above- 28510.

MCX Crude Updates

Nymex crude oil prices declined around 0.9 percent today on the back of easing concerns over global supply and a rise in China’s fuel prices which increased oil demand concerns from the country. Additionally, a stronger dollar and expected rise in US crude oil inventories also acted as a negative factor for oil prices. As long as 5475 region caps upside, expect prices to trade lower towards 5425/5400 region. Break above the same could see prices

targeting 5500/5545 region. On the contrary, splinter past 5380 region could see prices revisiting lows of 5350/5325 region.

MCX Copper Updates

A flat trading range is expected today. Early attempts to rise could be capped at 434-435 region, but may not force steep falls as long as 429 hold the downside. Conversely a direct rise above 436 will have a potential towards 441/444 levels. Copper for three-month delivery declined, reversing a gain of

0.3 percent, on the London Metal Exchange. The metal fell 0.2 percent to $8,494.50 a metric ton.

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Free MCX Tips, MCX Trend and Updates For Today

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MCX Gold April:

Yesterday it closed on 27901 and now it is trading on 27796 down by 110 points in comperison. It is looking a good bet in intraday trading. Now MCX Gold has a resistance of 28100 and a support level of 27550.

Trading Tip : Buy Around 27800 / 27825, Stoploss: 27700, Tgt: 27950 - 28050.

MCX Silver May:

MCX Silver may contract is trading at 56996 with the loss of 0.89% in comperison of yesterday's close of 57505. Now it has a support of 56050 and a resistance level of 58300. It is looking bullish in comming session.

Trading Tip : Buy Around 57300, Stoploss: 56950, Tgt: 57800 - 58100.

MCX Crude Mar:

Crude oil trading at 5468 with the gain of 0.24% in its intraday trading. It has a resistance level of 5480 and a support level of 5365. It is also looking in a bull trend in its intraday trading.

Trading Call : Buy Above 5420, Stoploss: 5400, Tgt: 5450 - 5480

MCX Copper April

MCX Copper is also looking bullish in intraday trading. It is trading at 430 down by 1.00%. Now it has resistance level of 440 and a support level of 423.

Trading call : Buy Around 433.5, Stoploss: 429, Tgt: 437 - 439.

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MCX, MCX Tips, MCX Trend and Updates For Today

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MCX Gold Silver Updates

In today's gold market - has started dull silver. Lethargy on MCX gold is trading at Rs 27884, while the dull silver with a turnover of Rs 57296 level is seen. Edge on the international market in gold, while silver is the slowdown in the trend. International market, gold - silver is traded on the edge. Comex half per cent on gold with the dollar trading at 1664, while silver has seen nearly half a per cent, while prices are above $ 32. With the slowdown in the domestic market last week.

Crude Updates

Crude oil is beginning to weaken today. Slight edge in the domestic market with crude oil is trading at Rs 5434. The Naimaks ended has seen in the raw. Naimaks crude oil is increasingly being ended, the price is above 107 dollars a barrel. Half per cent of crude oil in the domestic market last week with a gain of 5428 were Rs.

Copper Updates

Base metals started today is worse. MCX is trading at all the metals in the fall. Almost half per cent decline in zinc was the highest. Copper on the London Metal Exchange is on the decline in business. Slowdown in the domestic market last week with the Copper closed at Rs 432.

Free Commodity Tips-

MCX Gold April Sell below 27,960 to get target of 27550, put stoploss of Rs Rs 28200.

MCX Crude March Buy above 5420 to get the targe of 5530, Stoploss will be 5360.

MCX Copper April Buy above 434 to get the target of 439, Stoploss will be 430.

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Copper, Gold, Silver and Crude Updates and Tips For Today

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MCX Gold Tips

MCX Gold prices are expected to trade in a range from 27700 to 28000, one can trade within the range.fresh buying only above close of 28000.

Trading Tip: Buy MCX Gold Apr between 27600-27700, Target: 28300, Stoploss: 27100.

MCX Silver Tips

MCX Silver broke out from the inverted head and shoulders pattern and the down trend line resistance line, however failed to sustain above these resistance levels. This kind of failures leads to opposite reaction or sideways movement. Hence, we now maintain our bias sideways to down.

Trading Tip: Sell MCX Silver At cmp 57238, Target: 53500, Stoploss: 59370.

MCX Crude Tips

MCX Crude is a triangular pattern of which wave c appears to be completed, hence it is still expected to move sideways in the triangle. However, the triangle is a symmetrical one in the wave 4 which will eventually break on the upside. The Bollinger bands have started narrowing down, once an upside breakout is in hands the bands will expand which will lead to a thrust in wave 5 up. So, we continue to maintain our bias up.

Trading Tip: Buy MCX Crude Near 5260-5300, Target: 5500, Stoploss: 5230.

MCX Copper Tips

Copper has been moving up in an upward sloping parallel channel, so it can touch the upper end of the channel i.e. 446; however the risk-reward doesn’t favor the bulls as of now. So, one can sell near 446 for the target 418 which is its 20 DMA.

Trading Tip: Sell MCX Copper Near 446, Target: 415, Stoploss: 451.

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Free Commodity Tips For Today : 15th March '12

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Gold futures fall first is over. There is the silver light shopping. The spot market in today's sharp decline in the gold and silver. With 0.2 per cent on MCX gold is trading at Rs 27,500. The slowness with silver on MCX is trading above Rs 57 200.

On MCX, crude oil has slipped to about 0.5 per cent. Crude oil slipped around Rs 5,300 is reached. MCX base metals on the strength of the metals except nickel looks.

Here are some free tips for today's trading-

MCX Gold April: Buy above 27,500 levels with a stop loss placed below 27,300 levels for targets of Rs 27,700 levels.

MCX Silver May: Sell below 56,850 levels with a stop loss placed above 57,400 levels for targets of Rs 56,000 levels.

MCX Crude March: Sell around 5,320 levels with a stop loss placed above 5,350 levels for targets of Rs 5,280 levels.

MCX Natural Gas March: Sell around 116 levels with a stop loss placed above 119 levels for a target of 111 levels.

MCX Copper April: Sell around 428 levels with a stop loss placed above 430 levels for targets of Rs 421 levels.

MCX Nickel March: Buy around 973 levels with a stop loss placed below 965 levels for targets of Rs 998 levels.

MCX Lead March: Sell around 105.50 levels with a stop loss placed above 106.50 levels for targets of Rs 104 levels.

MCX Zinc March: Sell around 104 levels with a stop loss placed above 105 levels for targets of Rs 102.50 levels.

NCDEX Steel Long March: Sell around 35200 levels with a stop loss placed above 35500 levels for targets of 34500 levels.

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Crude and Copper Updates, MCX Gold Silver Tips For Today

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MCX Gold Updates

Gold prices, which touched an eight-week low today, may extend declines. Gold prices traded moderately lower, weighed down by a stronger US dollar index. US dollar garnered strength, as US Federal Reserve stated in its policy statement that the central bank will persist with close to zero percent interest rate policy. Gold may drop 7.6 percent to $1,523.90 an ounce if it closes below its 200-day moving average today. The measure is near $1,678. Futures for April delivery tumbled 2.6 percent to $1,649.90 at 12 p.m. on the Comex in New York.

Copper Updates

Copper declined for a second day after China, the world’s biggest consumer, signaled it would keep limits on its housing market, weakening demand for the metal used in pipes and wires. Nickel and zinc fell. Copper for three-month delivery dropped as much as 0.5 percent to $8,421.25 a metric ton on the London Metal Exchange and traded at $8,431.25 at 10:23 a.m. in Seoul. While the metal slipped 1.1 percent yesterday, the most since March 6, prices are up 11 percent this year. The May-delivery contract lost 0.4 percent at $3.8340 a pound in New York.

MCX Gold Tip: Buy above 27400 levels with a stop loss placed below 27300 levels for targets of 27600 levels.

MCX Copper Tip: Sell around 428 levels with a stop loss placed above 430 levels for targets of 421 levels.

MCX Crude March: Sell around 5,320 levels with a stop loss placed above 5,350 levels for targets of Rs 5,280 levels.

Here are Intraday Trend For Commodities-

Commodity	Month	Trend	Support 1	Support 2	Resistance 1	Resistance 2
Gold	April	Consolidate	27364	27222	27725	27944
Silver	May	Consolidate	57163	56807	58038	58556
Crude Oil	March	Consolidate	5316	5286	5369	5390
Natural Gas	March	Consolidate	112.9	110.2	118.2	120.8
Copper	April	Consolidate	426	424	431	434
Nickel	March	Consolidate	972	963	986	991
Aluminum	March	Consolidate	104.85	104.1	106.95	108.2
Lead	March	Consolidate	104.85	104.1	106.95	108.2
Zinc	March	Bullish	103.05	102.5	104.5	105.4

 

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Free Commodity Tips For Today: 14th March '12

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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.

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NCDEX Live Tips For Today: 14th March '12

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NCDEX Chana Tips

Chana futures closed up on buying by stockists who outweighed the higher supplies in spot markets, trader said. In the Delhi spot market, chana rose 14 rupees to 3,540 rupees per 100 kg.

NCDEX Guar Seeds

Indian Guar seed futures ended higher after reversing initial losses as buying by exporters negated the profit taking. The April guar seed contract on the NCDEX closed up 0.35 percent at 22,690 rupees per 100 kg. In the Jodhpur spot market, guar seed rose 44 rupees to 22,022 rupees per 100 kg.

NCDEX Pepper Tips

Indian pepper futures hit their maximum upper limit of 4 percent due to a squeeze in daily spot supplies on lower output and dwindling stocks. Supplies are low as farmers have been holding back stocks anticipating further price increases. In the Kochi spot market in Kerala, pepper gained 237 rupees to 39,878 rupees per 100 kg.

NCDEX Jeera Tips

Jeera futures hit a new contract low for the third straight session with more supplies entering the market amid expectations of higher output this year. About 27,000-28,000 bags of 60 kg each from the new crop have been arriving daily in the Unjha market in Gujarat, of which 20,000-22,000 gets traded. In Unjha, Jeera fell Rs 110 to 13,258 per 100 kg.

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Free Commodity Tips For Today: 29th Feb '12

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Today MCX SILVER March contract was trading at Rs 61095.00 up Rs 212.00, or 0.35% (in its last trading). It touched an intraday high of Rs 61364.00 and an intraday low of Rs 60576.00. So far 23918 contracts have been traded. looking bullish for medium term also.

Here we have some free tips for Intraday Trading for Today-

MCX Gold

Buy above 28900 levels with a stop loss placed below 28700 levels for targets of 29200 levels.

MCX Silver

Buy above 62300 levels with a stop loss placed below 62600 levels for targets of 64600 levels.

MCX Crude Oil

Sell around 5280 levels with a stop loss placed above 5330 levels for targets of 5200 levels.

MCX Copper Tips

Buy above 429.50 levels with a stop loss placed below 427 levels for targets of 433 levels.

MCX Nickel

Buy around 985 levels with a stop loss placed below 975 levels for targets of 1005 levels.

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MCX Commodity Tips and Trend For Today: 27th Feb '12

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MCX Bullion Tips

MCX Gold- The daily price chart suggest that prices have breached the crucial resistance of 27550 levels. Prices can now go up to 29200 levels. Daily RSI & MACD are in a buy mode. We recommend a buy around 27600 levels with a stop loss placed below 27400 levels for a target of 29200 levels.

MCX Silver- The daily price chart suggest that prices have breached the crucial resistance of 57500 levels. Prices can now go up to 60000 levels. Daily MACD is in a buy mode. We recommend a buy around 58250 levels with a stop loss placed below 57500 levels for a target of 60000 levels.

Crude Updates

The daily price chart suggest that prices are trading close it crucial resistance of 5430 levels. Daily RSI and stochastic are in a buy mode. We expect prices to go up to levels of 5530 levels if the resistance of 5430 is breached. We recommend a buy above 5430 levels with a stop loss placed below 5375 levels for a target of 5530. The recent rally in the oil prices and persisting concerns over euro zone debt crisis kept markets under pressure. Commodities and equities slipped on concerns that rise in crude oil prices may create inflationary pressure.

Copper Updates

Base metals in LME remained mostly steady with a negative bias. Copper edged lower weighed down by concerns over demand from China and weak economic growth outlook. Nymex crude oil slipped from nine month high after International Monetary Fund warned that global economy was still at the risk of a slowdown.

Day’s bias likely for a dip favored till 421-419 region followed by a consolidation and drift prices higher. However a direct fall below the short term support at 414 would trigger strong selling pressure again.

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NCDEX Tips For Today: 24th Feb '12

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NCDEX SOYBEAN

NCDEX Soybean has been consolidating in a broad range of Rs.1,880 - Rs.2,560 since past fifteen months taking support of an upward sloping trend line and resistance. Resistance is looking at Rs.2,450 and took support on it confirming validity of the same. As long as price is sustaining well above the trendline, buying on dips would be the advisable strategy for short term. The 14-period RSI is currently pointing upwards indicating positive momentum.

Strategy - Go long at cmp and on dips toward Rs.2,580 and target Rs 2,805 with stop loss (closing below) - Rs.2,540 level.

NCDEX CHANA

NCDEX Chana after creating a life time high of Rs 3,700 is in a consolidating phase ranging Rs 2,900-3,700 since past four months forming a symmetrical triangle pattern (R,S), with lower top and higher bottom formation on it. The breakout is supported by rise in volume activity. Further, if the price continues to hold support at Rs 3,470 level, an upside move till Rs 3,860-3,880 levels could be possible.

Strategy: Go long at CMP and on dips toward Rs 3,540 and target Rs 3,860 and stop loss (closing below) Rs 3,470 level.

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MCX Gold and Silver Updates (Tips and Trend) For Today: 23rd Feb '12

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Spot Gold prices in the international markets traded on a flat note at $1775/oz and touched an intra-day low of $1771/oz till 4.30 pm IST today. The yellow metal prices in the domestic markets traded higher by 0.5 percent and was hovering around Rs28,777/10gm till 4.30 pm IST. Depreciation in the Indian Rupee led gains on the domestic bourses. Gold is going up on MCX gold prices have been close to Rs 29,000. Gold rose 5 percent to 15 business days.

Silver looks to grow strongly. MCX silver with 0.5 per cent at Rs 57 569. Domestic market today gold - silver is the beginning of the light along the edge. With nearly half per cent on MCX gold is trading at Rs 28 757, while silver is at Rs 57 360, with slight edge. In the international market, gold - silver has an edge.

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