Fortune Financial Servies has come out with its report on commodities. According to the research firm, MCX Gold
June contract is looking negative for the day. One can sell the
contract around Rs 30100 with a stop loss of Rs 30190, for the targets
of Rs 29960 & Rs 29850.
Bullion: Gold futures were trading higher on local bourses tracking the rise in COMEX contracts, which rose due to weakness in the dollar against the euro and safe-haven buying. The Indian forex market was closed as banks were shut due to annual closure of accounts. Trading was thin as UK, Australia and Hong Kong markets are closed for Easter holiday.
Energy: Domestic crude oil futures were trading lower
tracking New York Mercantile Exchange, where benchmark contract declined
on profit booking in the electronic session. NYMEX oil futures eased
today after rising in the previous week on upbeat US durable goods data.
Crude oil futures declined also because of ongoing concerns regarding
the Eurozone economy and sharp rise in the US crude oil stocks.
Metals: Base metal futures on MCX were trading lower
due to concerns over demand from China, as the country reported a
lower-than-expected rise in manufacturing Purchasing Managers' Index.
The data showed that China's March PMI rose to 50.9 from 50.1 in
February, while market had expected it around 52. Absence of cues from
the London Metal Exchange today also kept sentiment weak in domestic
market.
MCX Gold June Contract is looking negative for the day.
Market may find support near 29960 & 29850; intraday resistance can
be seen near 30100 & 30190. Day traders are advised to sell
intraday on rise. (Sell around 30100 with SL 30190, for the target of
29960 & 29850.)
MCX Silver May Contract is looking negative for the day. Market may find support near 52400 & 51900; intraday resistance can be seen near 52900 & 53400. Day traders are advised to sell intraday on rise. (Sell around 52900 with SL 53400, for the target of 52400 & 51900.)
MCX Natural Gas April contract is looking negative the day. Market may find support near 217 & 215 intraday resistance can be seen near 222 & 225. Day traders are advised to sell intraday on rise. (Sell around 222 with SL 225 for the target of 217 & 215.)
MCX Crude oil April contract is looking positive for the day. Market may find support near 5260 & 5210; intraday resistance can be seen near 5320 & 5370. Day traders are advised to buy intraday on dips. (Buy around 5260 with SL 5210, for the target of 5320 & 5370.)
MCX Copper April contract is looking negative for the day. Market may find support near 405 & 402; intraday resistance can be seen near 410 & 413. Day traders are advised to sell intraday on rise. (Sell around 410 with SL 413, for the target of 405 & 402.)
MCX Lead April contract is looking negative for the day. Market may find support near 113.80, 112.70, intraday resistance can be seen near 115.30 & 116.20 Day traders are advised to sell intraday on rise. (Sell around 115.30 with SL 116.20 for the target of 113.80 & 112.716
MCX Nickel April contract is looking negative for the day. Market may find support near 904, 895, intraday resistance can be seen near 916 & 924. Day traders are advised to sell intraday on rise. (Sell around 916 with SL 924 for the target of 904 & 895.)
MCX Aluminium April contract is looking negative for the day. Market may find support near 103.10, 102.00 intraday resistance can be seen near 104.20 & 105.10 Day traders are advised to sell intraday on rise. (Sell around 104.20 with SL 105.10 for the target of 103.10 & 102.00)
Bullion: Gold futures were trading higher on local bourses tracking the rise in COMEX contracts, which rose due to weakness in the dollar against the euro and safe-haven buying. The Indian forex market was closed as banks were shut due to annual closure of accounts. Trading was thin as UK, Australia and Hong Kong markets are closed for Easter holiday.
Metals: Base metal futures on MCX were trading lower
due to concerns over demand from China, as the country reported a
lower-than-expected rise in manufacturing Purchasing Managers' Index.
The data showed that China's March PMI rose to 50.9 from 50.1 in
February, while market had expected it around 52. Absence of cues from
the London Metal Exchange today also kept sentiment weak in domestic
market.MCX Silver May Contract is looking negative for the day. Market may find support near 52400 & 51900; intraday resistance can be seen near 52900 & 53400. Day traders are advised to sell intraday on rise. (Sell around 52900 with SL 53400, for the target of 52400 & 51900.)
MCX Natural Gas April contract is looking negative the day. Market may find support near 217 & 215 intraday resistance can be seen near 222 & 225. Day traders are advised to sell intraday on rise. (Sell around 222 with SL 225 for the target of 217 & 215.)
MCX Crude oil April contract is looking positive for the day. Market may find support near 5260 & 5210; intraday resistance can be seen near 5320 & 5370. Day traders are advised to buy intraday on dips. (Buy around 5260 with SL 5210, for the target of 5320 & 5370.)
MCX Copper April contract is looking negative for the day. Market may find support near 405 & 402; intraday resistance can be seen near 410 & 413. Day traders are advised to sell intraday on rise. (Sell around 410 with SL 413, for the target of 405 & 402.)
MCX Lead April contract is looking negative for the day. Market may find support near 113.80, 112.70, intraday resistance can be seen near 115.30 & 116.20 Day traders are advised to sell intraday on rise. (Sell around 115.30 with SL 116.20 for the target of 113.80 & 112.716
MCX Nickel April contract is looking negative for the day. Market may find support near 904, 895, intraday resistance can be seen near 916 & 924. Day traders are advised to sell intraday on rise. (Sell around 916 with SL 924 for the target of 904 & 895.)
MCX Aluminium April contract is looking negative for the day. Market may find support near 103.10, 102.00 intraday resistance can be seen near 104.20 & 105.10 Day traders are advised to sell intraday on rise. (Sell around 104.20 with SL 105.10 for the target of 103.10 & 102.00)
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