Monday, February 7, 2011

Commodity Trading Tips


Currently commodities markets in India are trading unfavorably. At commodity, all indexes are showing a downward trend. At commodity futures, commodity comdex is trading at 3,369.14, down by 0.24%, commodity metal is trading at 4,258.63, down by 0.12% , commodity energy is trading at 3,029.77, down by 0.24% and commodity agri is currently trading at 2,942.73, down by 0.59% (At 5:28 P.M today)

At NCDEX, the Dhaanya, an agri commodity benchmark index, is currently traded at 1,160.69, down by 0.75%. (At 5:00 P.M today)

On the domestic front, Potato is trading higher in future trade today as speculators enlarged their positions on rise in demand in the spot market. At MCX future, Potato for March contract is trading at Rs 670.00, up by 0.66%, Potato for April contract is trading at Rs 657.30, up by 0.70 % and Potato for May contract is trading at Rs 688.00, up by 0.60 %. (At 5:11 P.M today)

Refined Soya Oil price declined in future trade today on sluggish demand in the spot market. At MCX future, Refined Soya Oil for February contract is trading at Rs 655.00, down by 1.55 % and Refined Soya Oil for March contract is trading at Rs 669.00, down by 1.36 %. (At 5:18 P.M today)

The top gainers at MCX are Barley for April contract (1.67%), Barley for March contract (1.33%), Maize for February contract (1.31%), Potato for April contract (0.70%) and Potato for March contract (0.66%) (At 5:01 P.M today).

Similarly the top losers at MCX are Cardamom for March contract (-4.00%), Cardamom for April contract (-4.00%), Cardamom for February contract (-4.00%), Cardamom for May contract (-3.00%) and Sugar MDEL for February contract (-2.65%). (At 5:01 P.M today)

The top gainers at NCDEX are Kapas for February contract (4.0%), Kapas for March contract (4.0%), Guar Gum for June contract (3.0%), Guar Gum for May contract (2.9%) and Chilli for April contract (2.5%). (At 5:07 P.M today)

On the domestic arena, at MCX, Crude Oil for February contract is trading at Rs 4,148.00 against Previous close price of Rs 4,146.00 (up by 0.05%). (At 5:06 P.M today)

Gold for February contract is trading at Rs 20,042.00 against Previous close price of Rs 20,096.00 (down by 0.27%). (At 5:07 P.M today)

Silver for March contract is trading at Rs 44,120.00 against Previous close price of Rs 44,133.00 (down by 0.03 %) (At 5:08 P.M today)

Based on wholesale price index (WPI), food inflation increased to 17.05% for the week-ended January 22nd 2011, up from the previous week’s 15.57%, official data showed.

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