Bullion
Today commodity market open on red side, top commodity moving with a red flag on MCX . Gold open at 30570 movement is looking little slow and opposite. In this week from the starting gold position is much unexpected and it perform on towards negative direction. Similarly trend following by silver today in the morning it open at 59351, its previous close is 59436. Silver continue loss its position from the last 3 day. A new fresh start is expected from the Monday on the bullion.
Crude oil
Crude oil price once in the week touch a line of 5200 and following same trend in early of week, but then continue falling from that position. Currently crude is traded at 5151 at 10:32am and expected to trade low today. But if we talking for upcoming week crude is expected to cross 5200 and work on the positive side.Base metal
Today in base metal some positive movement is expected. If we talking about copper for Feb contract some positive jump is expected from it. While nickel and aluminum is trading in the green side and little positive can be happen in the end of day. For upcoming week base metal is very good to work ad expected positive movement in this week.
Cotton
Today cotton opens on positive side by 3 point high to its last close at 16380. In the early morning it touches an intraday high of 16420 and a low of 16370. This week is good for cotton it crosses 16400 and traded on the positive side. For the upcoming week cotton is a best commodity to work.
Mentha oil
For mentha oil this week is not good almost most of time mentha oil is watching on red side. Mentha oil for January contract today open with red sign at 1338.10 few point down to its yesterday close at 1345.70. for intraday trader mentha oil is on position to sell, in the upcoming week mentha oil position is going to strong so it’s good to hold position for future.
Today calls:-
Sell gold(5 feb) below 30570 tgt 30550, 30520…………sl 30610
Sell silver (5 mar) below 59370 tgt 59350,59320………sl 59460
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