Their is a high decrement seen in the price of commodities today as compared to friday. The silver was opened up by 13 points and the gold opened by 133 points up. The support and resistance level for the precious metals are
Gold
Support1 : 30301.7 Support2 : 29848.4
Resistance1 : 31208.3 Resistance2 : 31661.6
Silver
Support1 : 49587.6 Support2 : 48288.2
Resistance1 : 52186.4 Resistance2 : 53485.8
A sudden change has been seen in the white metal as it change its direction from positive to negative at 10:21 am down by 272 points. The base metals are showing buying trend for future deliveries. They all are used to work in a upward way. Cotton is heavily increases with a gain of 500 points to rupees 23260.
If we move towards the ncdex products then here 98% of the materials looking bearish and are used to trading in a negative side. Chilli depriciating around 56 points at 5444 with this the jeera and turmeric doing the same work as of the chilli.
Crude oil buy tg 6722, 6726, 6732 sl 6698
Zinc buy tg 125, 125.5, 126 sl 122
Gold
Support1 : 30301.7 Support2 : 29848.4
Resistance1 : 31208.3 Resistance2 : 31661.6
Silver
Support1 : 49587.6 Support2 : 48288.2
Resistance1 : 52186.4 Resistance2 : 53485.8
A sudden change has been seen in the white metal as it change its direction from positive to negative at 10:21 am down by 272 points. The base metals are showing buying trend for future deliveries. They all are used to work in a upward way. Cotton is heavily increases with a gain of 500 points to rupees 23260. If we move towards the ncdex products then here 98% of the materials looking bearish and are used to trading in a negative side. Chilli depriciating around 56 points at 5444 with this the jeera and turmeric doing the same work as of the chilli.
Crude oil buy tg 6722, 6726, 6732 sl 6698
Zinc buy tg 125, 125.5, 126 sl 122
