Fortune Financial Servies has come out with its report on commodities. According to the research firm, MCX Silver
May Contract is looking positive for the day. Market may find support
near 54400 & 53900; intraday resistance can be seen near 54900 &
55400. Day traders can buy intraday on dips.
Bullion: Gold futures were trading higher on the local bourses as the rupee weakened against the dollar and also rise in benchmark contract. Investors will now turn their focus to the US Federal Open Market Committee's two-day meeting for cues on its asset-purchase programmed.
Energy: Domestic crude oil futures were trading higher due to depreciation in rupee against the dollar and tailing mild upward recovery in benchmark contracts on the New York Mercantile Exchange. The upward recovery in NYMEX crude oil futures, however, was restricted, as market is awaiting release of key weekly US oil inventory report on Wednesday.
Metals: Base metal futures on MCX were trading higher due to the weakness in rupee against the dollar, but a rangebound movement in benchmark contracts on the London Metal Exchange limited the rise. On LME, base metal contracts traded higher earlier in the day on bargain buying and as the initial shock over the Cyprus debt deal eased to some extent.
MCX Gold April Contract is looking positive for the day. Market may find support near 29780 & 29670; intraday resistance can be seen near 29940 & 30040. Day traders are advised to buy intraday on dips. (Buy around 29780 with SL 29670, for the target of 29940 & 30040.)
MCX Silver May Contract is looking positive for the day. Market may find support near 54400 & 53900; intraday resistance can be seen near 54900 & 55400. Day traders are advised to buy intraday on dips. (Buy around 54400 with SL 53900, for the target of 54900 & 55400.)
MCX Natural Gas March contract is looking positive the day. Market may find support near 214 & 211 intraday resistance can be seen near 218 & 221. Day traders are advised to buy intraday on dips. (Buy around 214 with SL 211 for the target of 218 & 221.)
MCX Crude oil April contract is looking positive for the day. Market may find support near 5070 & 5020; intraday resistance can be seen near 5140 & 5210. Day traders are advised to buy intraday on dips. (Buy around 5070 with SL 5020, for the target of 5140 & 5210.)
MCX Copper April contract is looking negative for the day. Market may find support near 410 & 407; intraday resistance can be seen near 415 & 418. Day traders are advised to sell intraday on rise. (Sell around 415 with SL 418, for the target of 410 & 407.)
MCX Lead March contract is looking negative for the day. Market may find support near 116.80, 115.70, intraday resistance can be seen near 118.80 & 119.80 Day traders are advised to sell intraday on rise. (Sell around 118.80 with SL 119.80 for the target of 116.80 & 115.70)
MCX Nickel March contract is looking negative for the day. Market may find support near 896, 888, intraday resistance can be seen near 908 & 918. Day traders are advised to sell intraday on rise. (Sell around 908 with SL 918 for the target of 896 & 888.)
MCX Aluminium March contract is looking negative for the day. Market may find support near 103.20, 102.20 intraday resistance can be seen near 104.80 & 105.90 Day traders are advised to sell intraday on rise. (Sell around 104.80 with SL 105.90 for the target of 103.20 & 102.20) (http://www.moneycontrol.com/news/brokerage-recos-commodities/buy-mcx-silver-may-near-rs-54400-sl-rs-53900-fortune-fin_840909.html)
Bullion: Gold futures were trading higher on the local bourses as the rupee weakened against the dollar and also rise in benchmark contract. Investors will now turn their focus to the US Federal Open Market Committee's two-day meeting for cues on its asset-purchase programmed.
Energy: Domestic crude oil futures were trading higher due to depreciation in rupee against the dollar and tailing mild upward recovery in benchmark contracts on the New York Mercantile Exchange. The upward recovery in NYMEX crude oil futures, however, was restricted, as market is awaiting release of key weekly US oil inventory report on Wednesday.
Metals: Base metal futures on MCX were trading higher due to the weakness in rupee against the dollar, but a rangebound movement in benchmark contracts on the London Metal Exchange limited the rise. On LME, base metal contracts traded higher earlier in the day on bargain buying and as the initial shock over the Cyprus debt deal eased to some extent.
MCX Gold April Contract is looking positive for the day. Market may find support near 29780 & 29670; intraday resistance can be seen near 29940 & 30040. Day traders are advised to buy intraday on dips. (Buy around 29780 with SL 29670, for the target of 29940 & 30040.)
MCX Silver May Contract is looking positive for the day. Market may find support near 54400 & 53900; intraday resistance can be seen near 54900 & 55400. Day traders are advised to buy intraday on dips. (Buy around 54400 with SL 53900, for the target of 54900 & 55400.)
MCX Natural Gas March contract is looking positive the day. Market may find support near 214 & 211 intraday resistance can be seen near 218 & 221. Day traders are advised to buy intraday on dips. (Buy around 214 with SL 211 for the target of 218 & 221.)
MCX Crude oil April contract is looking positive for the day. Market may find support near 5070 & 5020; intraday resistance can be seen near 5140 & 5210. Day traders are advised to buy intraday on dips. (Buy around 5070 with SL 5020, for the target of 5140 & 5210.)
MCX Copper April contract is looking negative for the day. Market may find support near 410 & 407; intraday resistance can be seen near 415 & 418. Day traders are advised to sell intraday on rise. (Sell around 415 with SL 418, for the target of 410 & 407.)
MCX Lead March contract is looking negative for the day. Market may find support near 116.80, 115.70, intraday resistance can be seen near 118.80 & 119.80 Day traders are advised to sell intraday on rise. (Sell around 118.80 with SL 119.80 for the target of 116.80 & 115.70)
MCX Nickel March contract is looking negative for the day. Market may find support near 896, 888, intraday resistance can be seen near 908 & 918. Day traders are advised to sell intraday on rise. (Sell around 908 with SL 918 for the target of 896 & 888.)
MCX Aluminium March contract is looking negative for the day. Market may find support near 103.20, 102.20 intraday resistance can be seen near 104.80 & 105.90 Day traders are advised to sell intraday on rise. (Sell around 104.80 with SL 105.90 for the target of 103.20 & 102.20) (http://www.moneycontrol.com/news/brokerage-recos-commodities/buy-mcx-silver-may-near-rs-54400-sl-rs-53900-fortune-fin_840909.html)
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