After the morning good start base metal and bullion lost its position. From the starting of the day silver is looking is looking in a very constant position; no movement is looking on the white metal. From the yesterday closed silver goes 250+ points high and stop its movement like someone has grab the white metal, while the gold has lost its strong positive. Gold move towards downside and nearly to kiss the level of 30750, its fallen has been watched due to depreciation in dollar price. Dollar price is dropped by 0.29 point against Indian currency at 3:13pm.
Cotton for Jan contract lost its position from the year, and we saw a regular fallen in the cotton market. Cotton regularly drops 70 point in the Domestic market. Cotton is expected to fall more in the next trading session.
Crude oil price has fallen and its move towards the red side , movement in the crude oil is very volatile from year starting . Crude is expecting to trade in the range of 5100 to 5210 in this week.
Mentha oil and nickel is working on the red side today but it is expected some change on the next trading session. Nickel fall by -4 point to its last close at 3:20 pm. Mentha oil for Jan contract fall by -9 point from its previous close1402 at 3:22 pm.
Today calls:-
sell mentha oil (31 jan) below 1393.80 tgt 1393, 1390…1385……sl 1410
sell nickel (31 Jan) below 958 tgt 957, 955…………sl 964
sell silver (5March) below 58380 tgt 58350, 58300…58250……..sl 58800
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