Today on the MCX commodity showing lots of red, but top commodity are on the positive side. On the domestic market silver is going higher due to the pos t pone of GAAR (General Anti Avoidance rules). GAAR is post pone for 2 year and their effect on the domestic market showing a positive result On the MCX. In the bullion market it is expected that the movement in the silver is very volatile today, while gold is movement is looking positive due to the strength in the dollar price. In the early morning white metal is open at 58853, 110 point high to previous close 58743. In the morning silver show a good movement and touch an intraday high 58929 and a low of 58765. Currently bullion is trading with the green flag and move towards positive direction.
Base metal is showing a red sign on the MCX, nickel showing a positive move at 10:25 am. Movement on the nickel is expected low today .nickel is trading in the range of 937 to 954. Copper for feb contracts is expected to trade positive today on the MCX. On the Chinese market demand on the copper is expected to increase that will surely give some support to MCX copper position.
Today calls
Buy silver(5 march) above 58875 tgt 58900, 59000, 59100………………..sl 58332
Buy cotton (31 jan) above 16290 tgt 16300, 16320, 16340…………..sl 16200
Sell crude oil (21 Jan) below 5110 tgt 5100, 5080, 5070……………sl 5200
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