NCDEX Announces Commencement of Trading in Castor Seed Futures

Intraday Calls on Stock Future BUY DHFL FUTURE

ABOVE 246.00

Target1-247.00

Target2-248.70

StopLoss-244.00.

NCDEX announces commencement of trading in Castor seed futures 

The National Commodity and Derivatives Exchange Ltd. (NCDEX), India’s leading commodity exchange, today announced the commencement of trading in Castor seed futures. MCX Free Tips- The Exchange has received approval from SEBI for re-launching of the contract after its suspension in January 2016. 

Castor seed contract (Symbol : CASTOR) expiring in the months of February 2017, March 2017, April 2017 and  May 2017 would be available for trading from January 5, 2017 The contract specifications are available on www.ncdex.com. 

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Intraday Calls on Stock Future and Gold Trading Tips

Gold prices eased on Thursday as the dollar advanced in choppy trade and on expectations that the U.S. Federal Reserve will further raise interest rates.

SPDR Gold Trust fund, said its holdings fell 0.43% to 824.54 MT on Wednesday. MCX Free Tips: Holdings are down over 12% since November. This also weighed on bullion prices.

GOLD – SILVER SPOT RATIO

The gold/silver ratio was last seen at 71.52 ounces compared with 71.43 ounces on Thursday.

Equity Tips: BUY BHARAT FIN 540 PUT 

ABOVE 20.50 

TARGET1- 22 

TARGET2- 24.70 

STOPLOSS- 17.60

MCX Silver Mar

MCX Silver price has given breakdown of its falling wedge pattern at 39080 levels.

For now we expect prices to move lower towards 38000 levels in few trading sessions.

MCX Copper Feb

For now we expect prices to move lower towards 368 levels in coming trading sessions.

MCX Crude Oil Jan

For now we expect prices to move higher towards 3700 levels in coming trading sessions.

Intraday Calls on Stock Future BUY AXIS BANK 450 PUT 

ABOVE 10.30 

TARGET1- 11.80 

TARGET2- 13.50 

STOPLOSS- 7.20

MCX- Gold, Silver, Crude, Copper, Jeera Trading Call for Today

Gold prices remained under pressure as a firm U.S. dollar and the possibility of further U.S. interest rate hikes next year continued to weigh.

MCX Free Tips includes intraday mcx gold, silver, base metal and  energy calls with premium and inventory calls.

Gold trading range for the day is 26821-27291.

Silver prices dropped tracking weakness in base metals and crude oil prices as a leading dollar index revived its run to fresh 14-year highs.

Silver trading range for the day is 38626-40020.

Crude oil dropped as prices declined after data showed a surprise increase in U.S. crude supplies last week.

Crude oil trading range for the day is 3500-3702.

Copper remained under pressure from worries about an oversupplied market and funds cutting bets on higher prices over coming days.

Copper trading range for the day is 372.5-379.9.

Zinc dropped on the concerns about excess supply and pressure seen after China's zinc smelters are accepting record low fees to produce metal amid a shortage of ore.

Zinc trading range for the day is 173-180.4

Nickel dropped tracking weakness from LME Nickel as supply-side issues in Indonesia and the Philippines have again taken centre stage in the nickel market.

Nickel trading range for the day is 723.3-750.1.

Jeera prices settled flat on reports of good sowing progress in the producing regions

Jeera trading range for the day is 16965-17465.

Turmeric prices gained on short covering after prices dropped on medium and poor quality arrivals from the producing belts.

Turmeric trading range for the day is 6696-6972.

Mentha oil spot at Sambhal closed at 1130.20 per 1kg. Spot prices is up by Rs.25.40/-.

Mentha oil trading range for the day is 1018.7-1063.7.

Intraday Calls on Stock Future Demo Call

SELL CANARA BANK FUTURE

BELOW 286.00

TARGET1 -285.00

TARGET2 -283.30

STOPLOSS -289.00.

BOOK PROFIT 40500/- IN JUST 5 LOTS

Today’s MCX Gold, Silver, Copper and Crude Oil Trend Levels

Gold

MCX Gold may take note of a few gains following cues from international exchange however sell on rise is suggested. Domestic gold price is also getting influenced by trend in rupee and development in spot market. Support for MCX Gold February contract is seen at Rs.27800 while Resistance is seen at Rs.28250.

Silver

MCX Silver may note of a few gains following cues from international market yet selling could be considered at higher levels. Support for MCX Silver March contract is seen at Rs.40400 while Resistance is seen at Rs.41300.

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Copper

MCX Copper may trade with a weaker bias following cues from international exchange. LME Copper trades bring down in early trades today following 0.6% decline yesterday. Support for MCX Copper November contract is seen at Rs.392 while resistance is seen at Rs.404.

Crude Oil

MCX Crude may note some decline following cues from international exchange but buy on dips is recommended. NYMEX crude has eased back after near $52 per barrel in past session. Support for MCX Crude December contract is seen at Rs.3411 while Resistance is seen at Rs.3595.

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Today's Accurate Trading Call

Commodity Tips | International Updates | MCX Support Level

MCX SUPPORT & RESISTANCE LEVEL

GOLD JUNE FUTURE

R2–30712,

R1 -30484,

S1-29247,

S2-29112,

SILVER JULY FUTURE

R2 –43119,

R1- 42846,

S1-41019,

S2-40780,

CRUDE OIL JUNE FUTURE

R2 –3430,

R1-3370,

S1-3280,

S2-3250,

COPPER JUNE FUTURE

R2 –327,

R1-323,

S1-316,

S2-311.

Commodity Tips: Bullion

Gold

On Wednesday, spot gold prices rose marginally by 0.16 percent to close at $154.7 per ounce after minutes from the Federal Reserve's September meeting showed several voting policymakers judged an interest rate hike would be warranted "relatively soon" if the U.S. economy continued to improve.

The minutes of the Sept. 20-21 meeting, however, showed the depth of the divide on how much longer they should allow the labor market and inflation to improve before raising rates.

On the MCX, gold prices declined marginally by 0.23 percent to close at $29651 per 10 gms.

Silver

Spot silver prices rose marginally by 0.1 percent on Wednesday to close at $17.5 per ounce in line with rise in gold prices. Strength in dollar index however capped the rally.

On the MCX, silver prices rose marginally by 0.13 percent to close at Rs.42051 per 10 gms.

Outlook

On an intraday basis, we expect gold prices to trade lower as the possibility of rate hike in the December meeting of the US Federal Reserve looks very likely. Besides, spate of economic data also indicates growth and optimism on the economy.

On the MCX, gold prices are expected to trade lower today.

Energy Crude Oil Outlook

On an intraday basis, we expect oil prices to trade higher as it trades closer to the psychological barrier of $50 mark. On the other side, OPEC said that their production of around 33.39 million barrels in September is the highest in the last eight years which will be a close watch by investors across the globe.

On the MCX, oil prices are expected to trade lower today on account of profit booking, as international markets are trading lower by around 0.7 percent at $49.81 per barrel.

Intraday Calls on Stock Future

CALL:- BUY ONGC 265 CALL

ABOVE 8.60

TG1 9.20

TG2 10.90

SL 6.60

INTERNATIONAL MARKET UPDATE

GOLD $ 1261.95.

SILVER $ 17.668,

COPPER $324.00,

CRUDE OIL $ 49.83,

INR 66.805.