Today a highly diminished structure has been seen on multi commodity exchange. All the metals are put down and show a down trend. Silver and gold seems to be in an opposite side as compared to Wednesday. The gold import was recorded at 162 tons in May month. US gold has fallen to $1397.7
Ncdex chilli is looking bullish today for all future contracts. It rose by 44 points or 0.8 percent at 553.8 with a high of 5572 and low of 5528. Spot price of the commodity is 6070, best buy is 5510 and best sell is 5540 and open interest is 4050.
A weak rupee is putting a pressure on agri-products price in both directions. Due to poor demand in soy meal, its export is globally decrease by 30 percent. In few days the western and southern states received ample rainfall which will help to limit the damage.
At 11:19 am cotton fall by 40 points to Rs. 18940, mentha oil is the only one among all the mcx products which looks positive and gain 15.60 points to Rs. 976.70. It may be expected that the products will recover soon.
Sell silver target 43954/43929/43914 stop loss 44071
Sell copper target 421.25/420.75/420.25 stop loss 424.75
Ncdex chilli is looking bullish today for all future contracts. It rose by 44 points or 0.8 percent at 553.8 with a high of 5572 and low of 5528. Spot price of the commodity is 6070, best buy is 5510 and best sell is 5540 and open interest is 4050. A weak rupee is putting a pressure on agri-products price in both directions. Due to poor demand in soy meal, its export is globally decrease by 30 percent. In few days the western and southern states received ample rainfall which will help to limit the damage.
At 11:19 am cotton fall by 40 points to Rs. 18940, mentha oil is the only one among all the mcx products which looks positive and gain 15.60 points to Rs. 976.70. It may be expected that the products will recover soon.
Sell silver target 43954/43929/43914 stop loss 44071
Sell copper target 421.25/420.75/420.25 stop loss 424.75
