For Gold Tips: Over all trend is short term bullish... Last week it was made a high near to resistance 20498 and made a low was 20166which indicate trading range of 300 points in either side. Now we may consider near term resistance 20450 and support 20200-20150...... Decisively break out above 20500 will move further, lower level break 20000 and closed below some selling pressure.
This counter day chart show a candlestick formation confirmed a sell signal and sell this contract at 20185.0 or better stop at 20500.0 and wave 3 could drop down to 19775 or to 19315.0 long term and a consolidation of price moment or a price correction may be underway this commodity is overbought at this time and break at 20425.0 level look for possible drop to the next support level and 20320.0 below touch at 20140 and 19935 level at intraday .
On 10th February 2011 (Thursday), the domestic commodity markets were closed favorably. At MCX future, all the indexes closed with an upward trend. In the MCX future, MCXCOMDEX closed at 3,341.27 after opening at 3,344.30, MCXMETAL closed at 4,295.75 after opening at 4,296.43, MCXAGRI closed at 2,964.74 after opening at 2977.09 and MCXENERGY closed at 2,909.18 after opening at 2911.31.
At NCDEX, the Dhaanya, an agri commodity benchmark index, is closed at 1,172.39, up by 0.19%.
Supported by increased demand in the spot market against restricted arrivals, Mentha oil traded higher in future trade yesterday. At MCX future, Mentha Oil for February contract closed at Rs 1,085.30, against previous close price of Rs 1,071.20, Mentha Oil for March contract closed at Rs 1,086.00, against previous close price of Rs 1,068.40 and Mentha Oil for April contract closed at Rs 1,048.40, against previous close price of Rs 1,043.50.
At NCDEX, the Dhaanya, an agri commodity benchmark index, is closed at 1,172.39, up by 0.19%.
Supported by increased demand in the spot market against restricted arrivals, Mentha oil traded higher in future trade yesterday. At MCX future, Mentha Oil for February contract closed at Rs 1,085.30, against previous close price of Rs 1,071.20, Mentha Oil for March contract closed at Rs 1,086.00, against previous close price of Rs 1,068.40 and Mentha Oil for April contract closed at Rs 1,048.40, against previous close price of Rs 1,043.50.
Yesterday, at MCX, the top gainers were Cardamom for May contract (4.00%), Cardamom for April contract (4.00%), Cardamom for March contract (4.00%), Cardamom for February contract (2.94%) and Lead for April contract (2.82%).
The top losers at MCX were Natural Gas for May contract (-2.01%), Natural Gas for March contract (-1.65%), Aluminium for February contract (-1.60%), Crude oil for February contract (-1.51%) and Natural Gas for April contract (-1.35%).
Yesterday, at NCDEX, the top gainers were Castor Seed for April contract (4.0%), Castor Seed for March contract (4.0%), Castor Seed for February contract (4.0%), Barley for March contract (4.0%) and Castor Seed for May contract (4.0%)
The top losers at NCDEX were Chilli for June contract (-4.0%), Chilli for April contract (-4.0%), Chilli for March contract (-4.0%), Chilli for February contract (-4.0%) and Guar Gum for April contract (-2.6%)
Yesterday, at MCX, the top traded commodities in terms of quantity were Crude Oil for February contract with 2,01,219 lots, Copper for February contract with 99,624 lots, Silver M for February contract with 90,978 lots, Silver for March contract with 69,165 lots and Nickel for February contract with 55,630 lots.
On the domestic arena, at MCX, Crude Oil for February contract closed at Rs 3,910.00 against previous close price of Rs 3,973.00. Gold for April contract closed at Rs 20,353.00 against previous close price of Rs 20,427.00. Silver for March contract closed at Rs 45,507.00 against previous close price of Rs 45,737.00. Natural Gas for February contract closed at Rs 180.20 against previous close price of Rs 183.80.
Oil prices dropped in New York after Egyptian President Hosni Mubarak stepped down and handed power to the military, reducing concern that crude shipments from the Middle East will be disrupted. Consequently, March delivery Crude oil prices declined US$ 1.15 to reach at US$ 85.58 a barrel on the New York Mercantile Exchange. Earlier Oil touched a two-year high of US$ 92.19 a barrel on January 31st 2011 due to the political unrest in Egypt.
Gold prices increased as rising political tensions in Egypt spurred demand for the precious metal as an investment haven. April delivery Gold futures increased by 0.35, to reach at US$ 1,366.80 an ounce at 10:50 A.M on the Comex. March delivery Silver future increased by 0.2%, to reach at US$ 30.16 an ounce.
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