MCX Free Tips | MCX Commodity Report

Gold- MCX Gold may witness choppy trade in line with international market but bias may be on upside. Support for MCX Gold April contract is seen at Rs.29150 while Resistance is seen at Rs.29400.

MCX Free Tips INTERNATIONAL MARKET UPDATE

• GOLD $ 1234.55(-1.45),
• SILVER $ 17.712(-0.044),
• COPPER 2.665(+0.028),
• CRUDE OIL $ 51.60(-0.57),
• IR 67.3400(-0.0800).

Silver- MCX Silver may note mixed trade in line with international prices but buying could be considered at lower levels. Support for MCX Silver March contract is seen at Rs.42000 while Resistance is seen at Rs.42800.

Copper- MCX Copper may trade with a positive bias tracking cues from international exchange. Support for MCX Copper February contract is seen at Rs.390 while resistance is seen at Rs.400.

Zinc- MCX Zinc may witness volatile movement today tracking cues from international exchange. Support for MCX Zinc February contract is seen at Rs.186.5 while Resistance is seen at Rs.190.5.

Crude Oil- MCX Crude may note some decline tracking cues from international exchange. Support for MCX Crude February contract is seen at Rs.3450 while Resistance is seen at Rs.3530.

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.

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Gold

MCX Gold may note of a few increase following cues from international exchange but sell on rise is suggested. Domestic gold prices are additionally getting affected by trend in rupee and development in spot market. Backwardation in domestic futures has widened amid position squaring ahead of expiry of December contract. In international market, COMEX gold trades in a narrow range near $1190/oz amid mixed cues. Retreat in US dollar and bond yields from recent high has lent some support to gold price. Support for MCX Gold December contract is seen at Rs.28500 while Resistance is seen at Rs.28900.

GOLD DEC FUTURE 

• R1–28900,
• R2-29400,
• S1-28600,
• S2-28300

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Silver

MCX Silver may witness choppy trade in line with international price but bias may be on downside. COMEX Silver trades mixed near $16.5/oz amid range bound movement in gold and weakness in industrial metals. Silver ETF investors have also moved to sidelines. Chance opinion may keep on affecting gold and industrial metals differently keeping silver price choppy but Fed’s rate climb worries will be negative for price. Support for MCX Silver December contract is seen at Rs.40300 while Resistance is seen at Rs.41400. 

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SILVER DEC FUTURE

• R1-41500,
• R2-42000,
• S1-40500,
• S2-39600,

Copper

MCX Copper may note decline following cues from international exchange. LME Copper trades lower in early trades today following 3% slide yesterday. Copper stocks at LME rose by 1225 tonnes yesterday however near lowest level since August. In spite of energetic fundamentals we expect the metal to trade with a weaker bias today as recent rally seems to have outrun fundamentals. Support for MCX Copper November contract is seen at Rs.382 while resistance is seen at Rs.396.

COPPER NOV FUTURE 

• R1-399,
• R2-416,
• S1-382,
• S2-370.

Crude Oil

MCX Crude may witness choppy trade tracking cues from international exchange but bias may be on upside. NYMEX crude trades higher above $45 per barrel after a sharp decline yesterday. Crude has witnessed sharp unpredictability in most recent few days as market players position for OPEC’s decision today. Focus today will also be on US EIA weekly report which is expected to note a 0.7 mn bbl rise in US crude stocks. Also in focus will be US economic data which will affect demand outlook as well as general risk sentiment. Support for MCX Crude December contract is seen at Rs.3050 while Resistance is seen at Rs.3180.

CRUDE OIL NOV FUTURE 

• R1-3330,
• R2-3390,
• S1-3100,
• S2-3020,

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Free Trading Idea on MCX and NCDEX

MCX Gold Dec 2016 TRADING IDEA

Gold trading range for the day is 28712-29112. Gold dropped as the dollar surged to its most noteworthy in more than 13-1/2 years on desires for a U.S. rate climb one month from now. SPDR Gold Trust, said its holding fell 0.58 percent to 915.29 tons on Friday from 920.63 tons on Thursday.

MCX Silver Dec 2016 TRADING IDEA

Silver trading range for the day is 39877-40893. Silver costs dropped as the dollar energized in the midst of mounting desire for higher U.S. interest rates. Holdings at ishares silver trust dropped by 1.70% i.e. 188.84 tons to 10891.89 tons from 11080.73 tons.

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MCX Crude Oil Dec 2016 TRADING IDEA

Crudeoil trading range for the day is 3066-3210. Crude OIl dropped in the midst of solid dollar however picks up on week by week premise floated by developing desires that OPEC will figure out how to top production.

MCX Copper Nov 2016 TRADING IDEA

Copper trading range for the day is 364.5-377.7. Copper dropped as the dollar took off to a 13-1/2-year high after Fed's Yellen flagged U.S. interest rates could rise "generally soon."

MCX Zinc Nov 2016 TRADING IDEA

Zinc trading range for the day is 166.8-177.8. Zinc costs picked up on short covering in the midst of theoretical streams in spite of the dollar took off to a 14-year high. Join MCX Free Tips provided by experts based on commodity market trends.

MCX Nickel Nov 2016 TRADING IDEA

Nickel trading range for the day is 723.3-770.7. Nickel dropped on benefit booking as brokers chose a rally driven by U.S. president-elect Trump's economic policies was overcompensated, for the present.

NCDEX Jeera Dec 2016 TRADING IDEA

Jeera trading range for the day is 17015-17705. Jeera costs dropped driven by a feeble pattern at spot showcase in the midst of absence of accessibility of littler section notes. NCDEX authorize distribution centers jeera stocks dropped by 27 tons to 986 tons.

NCDEX Turmeric Dec 2016 TRADING IDEA

Turmeric trading range for the day is 6982-7146. Turmeric costs picked up on desires of ascend popular in the midst of lower landings. NCDEX licensed distribution centers turmeric stocks picked up by 10 tons to 2649 tons.  We also give Future Tips Calls to traders with high accuracy.

MCX Mentha oil Nov 2016 TRADING IDEA

Menthaoil trading range for the day is 950.7-1007.7. Mentha oil spot at Sambhal shut down at 1073.00 for each 1kg. Spot costs is around Rs.- 2.00/ - . According to neighborhood sources, amid most recent three weeks around 20 percent landings have diminished in the spot likewise supporting costs.

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