Its been a quite exahusting day as the mcx commodities are showing strongly bearish trend. Their is not so much of differences occure in the price of products so it may be expected that they will change their direction towards the positive side. A sudden increment seen in gold price as it gain 17 points at 10:15 am to Rs 28899 while the silver still working in a negative zone.
Its hard to see the structure of the base metals, all the metals likes to work in a red signal. They are marginally varying in between 0.35 to 2.00 points in the morning trade. The energies crude oil and mentha oil used to folow the same path as of the base metals but the natural gas shows buying trend as it surge 0.64% at 203.60 with an intraday high 203.70. The support level for natural gas are S1 : 199.6 S2 : 197.4 and resistance level R1 : 205 R2 : 207.2
If we move towards the ncdex comodities, here a mixed reaction come from the products. Most of the materials like cereals, food grains etc are trying to maintained themselves but in a depriciating level. The spicy one red chilli for september and october is trading in a red zone as it drop by 10 and 12 points while the chana is moving towards the positive direction.
Chilli Sell (Sep) Below 5358 Target 5352 | 5348 | 5340 Stoploss 5378
Crude oil Sell (Sep) Below 6530 Target 6525 | 6519 | 6512 Stoploss 6550
Its hard to see the structure of the base metals, all the metals likes to work in a red signal. They are marginally varying in between 0.35 to 2.00 points in the morning trade. The energies crude oil and mentha oil used to folow the same path as of the base metals but the natural gas shows buying trend as it surge 0.64% at 203.60 with an intraday high 203.70. The support level for natural gas are S1 : 199.6 S2 : 197.4 and resistance level R1 : 205 R2 : 207.2
If we move towards the ncdex comodities, here a mixed reaction come from the products. Most of the materials like cereals, food grains etc are trying to maintained themselves but in a depriciating level. The spicy one red chilli for september and october is trading in a red zone as it drop by 10 and 12 points while the chana is moving towards the positive direction. Chilli Sell (Sep) Below 5358 Target 5352 | 5348 | 5340 Stoploss 5378
Crude oil Sell (Sep) Below 6530 Target 6525 | 6519 | 6512 Stoploss 6550
Today's Trading Tips
ReplyDeleteSELL CRUDEOIL (JAN.) BELOW 6130 TG-6115/6095/6070 SL-6155
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