Today base metal open with a low positive trend on MCX, in domestic commodity market base metal and bullion metal are showing e negative trend. Government is thinking to increase the import duty during this fiscal year on some metal. Currently on Indian market gold and prices are very volatile and unpredictable. In intraday gold is on negative side but for future its has a strong support level of 29550 with a resistance of 29850.
For intraday trading
Sell gold below 29620 tgt 29570, 29520…………..ls 29720
Sell silver below 53950 tgt 53850, 53750, 53700……..sl 54200
Sell crude oil below 5080 tgt 5070, 5060, 5050………sl 5110
Buy mentha oil above 1474 tgt 1480, 1485, 1490………..sl 1458
Buy cotton above 17750 tgt 17780, 17810, 17850,.sl 17650
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