Evening commodity market news and spot market trading tips for 22 march

India Mcx market all base metal are showing a red color except copper.  Today on MCX metal are open slightly high to its last close but lower demand forcing to trade in negative side. MCX aluminum is open at 103.50 but trend is supporting negative movement and on intraday price it touches a low of 102.80. While nickel, copper and lead are trading in negative side but some positive movement are expected on evening.  Today on MCX copper prices are following with a mixed volatile movement. On intraday trading it touches a high of 417.50 where as on downside it touches a low of 415.20. Nickel, zinc and lead are traded on negative side and supported a negative trend.

 

On MCX gold silver prices are traded flatting low negative today it opens at 29755 and on early trade it touch an intraday high of 29807 with a low of 29742. For today trading gold prices are expected to trade in the range of 29725 to 29896. Silver prices on mcx are falling by huge level and come to 54738 at 3:24 pm.   On commodity market it open at 54989 with an intraday high of 54989 and low of 54710.  Indian currencies are traded low that’s result in depreciation on silver and cotton.

Cotton prices for 29 march delivery are again falling by huge point on intraday trading. On early trade on mcx it open at 18750 and form that position it’s continue showing a negative movement and  expected more depreciation.  Cotton for March delivery touches a low of 18490.

Crude oil for April delivery are traded positive and expected go higher on evening session.  Global crude oil prices are varying on US and china market.  Euro problem affect price on Russian and European oil market and seems to some correction on upcoming weeks. 

Mentha oil is very volatile on MCX, today it open at 1140.50, on Asian market mentha oil continue trying to recover but fail to continue its journey towards positive direction.

Buy mentha oil above 1132 tgt 1135,1140, 1145………..sl 1119

Buy crude oil above 5065 tgt  5075, 5090……..sl 5040

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today mcx commodity news updates

On the MCX bullion again get their speed on the Feb contract. Today the yellow metal is open at 31348, 22 point high from its previous close. Its current price is 31360, 34 point high to its opening price at 11:02 am. Today gold is expected to trend with a support of 30900 and a resistance of 31755. While the white metal is on the flow of top gear moving towards 63000, today on the March contract silver open at 62658 its previous close is 62582. Its goes 150 point high at 11:07 am. In the global market silver consolidates a strong position and many experts predicted that it will goes a higher and break its all time record in the 2013. Similar situation is going to the oil market. In the Chinese oil market production is rise by 10.1% in November .the Chinese economy is covering with such production. On the MCX crude oil for December delivery is trading with a positive node its previous close is 4695, on the last trading there is good movement which is continue In Monday morning too. Meanwhile base metal Is also looking good today, today lead have a good movement on the MCX, its trading with a resistance of Rs 123 with a support level of Rs 119.8, its current price is 121.25 at 11.25 am.

Today MCX calls:-

Buy gold (5 feb) tgt 31400,,31500……31550……….sl 30900

Buy silver (5 march) tgt 62900….63050….63200…..63400……….sl

Buy cotton (31 dec) tgt 16455….16470…16490………….sl ……….16400


SELL COPPER FEB BELOW 446.5 TARGETS 445 , 443.5 , 442 STOPLOSS 449.5 

 BUY CRUDE OIL dec ABOVE 4710 TARGETS 4725 , 4740 , 4760 STOPLOSS 4680 

buy Mentha oil  tgt 1490 ...1500...1510.......sl 1458


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weekly mcx commodity news updates

BULLION

 In this week we see lots of up and down in the commodity market. In the starting of the week commodity goes a touch a new record of  the month but as day  goes  the commodity turn around to the another  direction. This week bullion is on the rock in the first 3 day but then market situation was changed and silver goes from 64000 to 61000 this week. Today on the MCX silver is trading on 61292 at 11.40 am. While the gold is also in the same situation today gold is trading on 31107 at 11.45 am goes 31 point high from its previous close.

CRUDE OIL

Meanwhile the other base metal is on situation of do or dies.  If we talking about crude the global situation affect it, while china has raised it import by 23%. In the report of IEA (International Energy Agency) stat that US will be the top oil producer by 2017, replacing the Saudi Arab and also US become the top Gas producer in the world by 2015. The economics growth of US wills going to enhance by this, US is still recovering from the great Recession.

CROP NEWS

Maize price in India has risen sharply in India in the November month, this year the Maize production is very low in the domestic market as well as global market. The demand of this crop is rising in the pot market. On the NCDEX Maize price were up by 0.6 percent at Rs 1506 per 100 kilogram at 14.14 IST on November, 30. Similarly barley price is also going high in the future trade due to lower production and  poor imports from major Barley producers like Russia and Ukraine. India is aiming to produce 1.5 million tons in the current session. In NCDEX barley price were up by 3.17 percent at Rs 1498 per 100 kilogram for January contract as of 16.45 IST on November 30.