This counter shortly down trend in this counter and 204.00 level above buy at only and 204.00 level below shortly down trend in this counter and low side support at 185.00 level and 181.50 level and 204.00 level cross above up side resistance at 210.00 and 214.50 level........and day trading and earn daily profit = profit choice pack.
Aluminium (MCX-Feb'11): We mentioned yesterday: "At 115, its taking support but near term support is appearing at 114. Below 114 it may fall till 113.30. Now a bounce back till 118 may be seen in this counter. Small trading range... on weakness to buy and strength to sell side. Your stop loss for long side.... Below free fall..
After a flat week the previous week, natural gas continues to see high levels of volatility, and this week fell by 8.08%. This fall occurred despite natural gas stockpiles falling by a greater level than expected.
Forecasts for warmer weather in the summer and strong production levels were the main drivers of the fall in price. Natural gas prices have been significantly underperforming oil prices in the last few weeks..
On 11th February 2011 (Friday), the domestic commodity markets were closed with a negative sign. At MCX future, all the indexes closed with a downward trend. In the MCX future, MCXCOMDEX closed at 3,346.92 after opening at 3,350.28, MCXMETAL closed at 4,302.02 after opening at 4,303.43, MCXAGRI closed at 2,978.93 after opening at 2,977.99 and MCXENERGY closed at 2,910.51 after opening at 2,919.23.
On the domestic front, Steel prices increased in future trade today due to the low-level buying buoyed with restricted supply against rising demand in physical markets. It has been observed that increasing demand from furnaces against restricted supply in spot markets pushed up the prices of steel in the domestic commodity market.