25-03-13 bullion-base metal and crude oil updates for Evening trading session and free commodity tips

India is going to reduce crude oil import by more than 50% by 2020 said by minister of petroleum and gas Dr. M Veerappa Moliy. India crude production house in increase day by day and it is good news for domestic market. It is expected that India become self independent by 2030 I crude and gas. Today on MCX crude oil for open at 5115 slightly high from its last close. On intraday it touches a high of 5129 some more increment is expected in evening trading session. Mcx crude oil price have a support level of 5090 with a resistance level of 5170.

Buy crude oil above 5125 tgt 5135, 5145, 5160…………..sl 5090

Cyprus data raised the foreign share market but its causes in negative mark at Indian commodity market. Both gold and silver are trading on negative side .Mcx bullion are trading bearish today, form morning no positive movement had seen in yellow metal. On early morning it opens at 29680 with a same intraday high and low of 29542. Gold for 5 April delivery falling by more than -150 point on Mcx. some correction are expecting in evening time. Mcx silver open bit positive and moving towards green side but due to lower support level it falling down in red side. Mcx silver for may delivery on intraday touches a high of 54249 with a low of 54030.

Sell gold below 29540 tgt 29510, 29460, 29440…….sl 29640

Sell silver below 54050 tgt 54000, 53950, 53850…………54250

MCX Base metal are traded low from negative, mcx copper for April delivery open at 419 ,on intraday it touches a high  of 419.25 with a low of  415.90. It is expected to go more deep with a support of negative side. Zinc, lead and aluminum are expected to fall more down on MCX. Nickel is bearish on Mcx for 28 march.

Sell nickel below 924 tgt 922, 920, 915…………sl 933

Sell copper below 417 tgt 415, 413, 411…….sl 423

Mcx Commodity call for today

Buy cotton above 18300 tgt 18330, 18350, 18380…………..sl 18220

Sell mentha oil below 1080 tgt 1078, 1075-----…………….. 1130

Evening commodity gold|silver|copper|crude updates

Mcx

Bullion

Today Multi commodity exchange showing a mixed movement, in the early morning not a very high movement had seen in bullion.  Gold on spot market mostly traded on green side with a small sloppy movement. Today gold touch a upper limit of 29418 with a low of 29353. On MCX silver is looking on bearish side, no such high movement had seen on the morning session.  

Base metal

If we are moving on base metal all metal are open towards green side but as market continue it seen in red negative side. Today nickel opens on good side and on morning touch an intraday high of 910 with a low of 903.60. On MCX nickel losses its good movement this week and mostly time it had seen in red side.  Some positive may be expected in upcoming week. On the other hand copper are also trading on bearish side, copper have strong support level of 424 with a resistance of 429.

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Crude and Mentha oil 

Crude oil import of china has drop down by 9% y/y and in the first 2 month of 2013 it’s down by 1% as compare to its previous year.  Meanwhile its export is rose by 21.8 % year on year.  This will affect the domestic Asian market. On MCX crude oil were traded in down side and touch an intraday low of 4977 with a high of 4995.it is advice to hold the position on medium long term. Mentha oil prices are floating between 1225 and 1245. Today mentha oil mostly watched in wrong side with a low of 1232 and high of 1242.90 and expected more bearish on remaining session.  

Sell gold below 29360 tgt 29330, 29300, 29260…….sl 29460 

Sell silver below 54550 tgt 54500, 54400, 54300…………sl 54800