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As the commodity market fluctuating in last some trading sessions, it is not a good time to get into the market. Where MCX gold hits 29300 in these period, which was the highest of it but it had fallen down in very next session. The reason may be the Ruppe satteled lower of last 32 months against the Dollar. This will impact the commodity market also.
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After a good build-up of yesterday MCX crude is now looking solid today also, reason may be the oil ministry has approved sale of a 10 percent stake in state-run explorer Oil India. But New York oil prices fell today after hitting fresh five-month high levels following a deal that reverses the build-up of crude stockpiles in the United States. According to our report Crude has sufficient reason to go downside today.
According to our research report Support for MCX Crude Dec. contract is seen at Rs.4945 while Resistance is seen at Rs.5125.
Gold down 1 pct on euro zone debt fears.
Oil fell from a five-month high on signs europe crisis spreading.
London copper down on euro zone c.bank spat.
Indian spices complex trade bearish.
| COMMODITY | EXCHANGE | CLOSING PRICE | % CHANGE |
| JEERA | NCDEX | 13670 | -0.94 |
| PEPPER | NCDEX | 34890 | 0.45 |
| TURMERIC | NCDEX | 4770 | -1.04 |
| GUARSEED | NCDEX | 4307 | -0.28 |
| GUARGUM | NCDEX | 13765 | -1.18 |
| CHANA | NCDEX | 3566 | -0.14 |
| SOYBEAN | NCDEX | 2243 | 0.54 |
| SOY OIL REFINED | NCDEX | 640.5 | 1.14 |
| MUSTARD SEED | NCDEX | 3152 | -0.1 |
| COTTONSEED OILCAKE | NCDEX | 1189 | -0.08 |
| GUR | NCDEX | 1009.5 | -0.2 |
| POTATO | NCDEX | 622.1 | -1.35 |
| MENTHA OIL | MCX | 1334 | -0.33 |
| CARDAMOM | MCX | 651.1 | 0.62 |
MCX Gold December contract was trading at Rs 28896.00 down Rs 100.00, or 0.34%. It touched an intraday high of Rs 28970.00 and an intraday low of Rs 28860.00. Gold prices gained 19 percent in the September quarter, and extended gains to hit a record of 29,212 rupees in November. The third quarter of 2011 has seen some difficult times for gold not just in India but around the world. Along with these India's jewellery demand fell 26 percent to 125.3 tonnes during the quarter, while investment demand fell 18 percent to 78 tonnes.
We hope that the gold will again get its new position.
Here are Commodity Report For Today's Market-
GOLD STEADY AS ITALY, GREECE OFFER HOPE.
CRUDE BELOW $99 AS LIBYA RESTARTS OIL PRODUCTION.
COPPER UP ON EURO ZONE HOPES, JAPAN'S ECONOMY REBOUND.
INDIAN SPICES COMPLEX TRADE UP ON SHORT COVERING.
NCDEX Report For Today-
COMMODITY
| EXCHANGE
| CLOSING PRICE
| % CHANGE
|
JEERA
| NCDEX
| 13690
| 0.48
|
PEPPER
| NCDEX
| 34755
| -0.1
|
TURMERIC
| NCDEX
| 4680
| -0.3
|
GUARSEED
| NCDEX
| 4158
| 0.07
|
GUARGUM
| NCDEX
| 13410
| -0.1
|
CHANA
| NCDEX
| 3540
| 1
|
SOYBEAN
| NCDEX
| 2243
| 0.9
|
SOY OIL REFINED
| NCDEX
| 629.05
| 0.89
|
MUSTARD SEED
| NCDEX
| 3152
| 0.96
|
COTTONSEED OILCAKE
| NCDEX
| 1187
| -0.84
|
GUR
| NCDEX
| 1012
| -0.44
|
POTATO
| NCDEX
| 629.8
| 0.1
|
MENTHA OIL
| MCX
| 1334.7
| 1.47
|
CARDAMOM
| MCX
| 673.9
| 4
|
MCX Gold is going to make new heights now it is trading it's high. In Last trading session it has touch 29000 levels. The Euro Financial problem are getting more complex and as the prices traded higher in gold, as stabilising political conditions in Europe and a weaker US dollar index underpinned the complete commodity complex. According to our analyst report gold may touch the level of 30000 in this month end.
For intraday trading in MCX Gold-
Buy at Rs 29,000, Target: Rs 29,250, Stop Loss: Rs 28,800
In MCX Silver-
Buy at Rs 57,900, Target: Rs 58,340, Stop Loss: Rs 57,800.
.
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