Today commodity market shows a red spot from morning, bullion on MCX are showing dull and negative movement on early trade. On MCX gold for June delivery open on dark side but on early trade it goes up with positive flag on first hour. Due to low volume MCX gold crashes and touches an intraday low of 29055. Some more falls is being expected from gold with low positive movement during remaining trading session. MCX silver for May delivery fall from a good level on early open price, today silver metal is open at 51488 and touches an intraday high of 51618 with a low of 51215. On MCX bullion regularly falling and comes near 6 month low.
Currently base metal is on red side at 2:30 pm, MCX copper are looking bearish on commodity market. From its opening price copper has continuing falling on red side and touches an intraday low of 409. Today MCX copper open at 412 slightly down against its last close. Nickel for April delivery shows volatile but slow movement on early trade. On early morning nickel prices are open on green side at 880.40 and goes up with an intraday high of 882 and low of 872.80. On evening session some correction are expecting on base metals. Whereas zinc, aluminium and lead are looking dull for today trading but some correction might be covered on evening due to overseas market result.
commodity recommendation for today
Sell gold below 29100 tgt 29050, 29000, 28900…………….stop loss 29300
Sell silver below 51350 tgt 51300, 51250, 51100……sl 51600
Sell copper below 409.50 tgt 408, 406, 405.50………sl 413.50
Sell nickel below 875.50 tgt 874.50, 873, 870.50……..sl 880.50
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