MCX gold fall by for than 3%, mcx cotton,crude and silver trying to recover

Gold prices continue their negative movement and fall form morning, in morning it go bit high and touch an intraday high of 29604 where as on downside it touches a low of 29532 for April delivery. Mcx gold for March delivery drops by more than 3%. In the overseas market gold playing above $1600 an ounce, due to increase in import duty demand in gold has reduced.  Mcx silver falls by more than -200 point from its opening price. Today on early morning it open at 54036 and form that position it continue falling and touches an intraday low of 53860.

Some correction may be seen on evening after 6:00 pm. Today gold is expected to trade with a support of 29460 and a resistance of 29658.

Today Silver expected to trade with a support level of 53680 and resistance of 54475.

Natural gas for 25 April in future traded low with a mixed movement.  On intraday it touches a high of 224.40 whereas on downside it touches a low of 221.50. On domestic market natural gas this week are expecting a bearish trend while so such high movement had seen in natural gas so far compare to previous year.  

Today in commodity market mcx cotton open at very high position of 19000 but showing a dull movement. On intraday a long jump might be seen on evening trading session. 

  

Today recommendation

Buy cotton above 18650 tgt 18680, 18720, 18800………….sl 18400

Buy crude oil above 5260 tgt 5270, 5280, 5290…….sl 5230

Buy silver above 53700 tgt  53800,53900, 54000 ………sl 53400

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today MCX live trading tips and ncdex updates

Today India ‘s  MCX commodity market open with mixed movement but as day passes all green sign turn towards red side . On MCX silver for 4 May delivery falling down by more than -400 point and this is a huge depreciation on Wednesday trading till afternoon.  No positive aspects are looking in silver right now but may be some positive movement will see in evening.  While MCX gold in morning moves in green side but due to lower supports it fall on MCX.

Sell gold below 29330 tgt 29300, 29250, 29200………..sl 29460

Sell silver below 54350 tgt 54300,  54200, 54150……..sl 54550

MCX tips

Buy crude oil above 5030 tgt 5040, 5050, 5060……………….sl 5000

Buy cotton above 18700 tgt 18730, 18760, 18800…….sl 18600

Buy nickel above 925 tgt 928, 930, 933……..sl 917

NCDEX UPDATES

On ncdex chana prices for 19 April delivery are showing bearish trend on morning it open at 3421 and go bit high and touch an intraday high of 3428 and a low of 3882.

Sell chana (19 April)  below 3380 tgt 3370, 3360,3350…….sl 3410

Sell chilli (20 march) below 6660 tgt 6650, 6630, 6600…………..sl 6720

Wednesday commodity market updates

GOLD AND SILVER

Today MCX showing a equally red and green on the index.  Bullion is looking little positive, but movement is not taking a big step. On Wednesday morning white metal is open at 59584 its last close is 59459. On the MCX silver touch a intraday high of 59630 and a low of 59519. Gold is looking positive today and expected to trade positive with some good jump on the next trading session. Gold is open at 30897 on Wednesday morning and touch a high of 30934 and low of 30878.

CRUDE OIL

Today movement in the crude oil is expected to trade low, it open at 3 point down from its last close.  Crude is expected to trade low on the Wednesday trading session. Crude touch a intraday high of 5131 and low of 5120. On the Global market crude demand is down that why the Asian market feeling some jerk on the crude position.

BASE METAL

On the MCX copper is open with positive flag and touch an intraday high of 442.75 , today copper open at 441.90. Copper is in strong position and have strong support level , expected to trade in range of 440 to 445.

 Today SELL  call

Sell cotton (31 Jan) below 16290 tgt 16270, 16250…………..sl 16350

Sell nickel (31 JAN) below 956 tgt 955  953,…950…………..sl 965

Sell crude oil(21 Jan) below 5120 tgt 5110, 5100, 4980…………sl …………5170

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