Friday, March 4, 2011

Sureshot Free Commodity Trading Mcx Tips Trial

On 3rd March 2011 (Thursday), the domestic commodity markets closed on a positive note. All 4 indexes on MCX trading in the positive zone compared to the previous close price. Yesterday, in the MCX future, MCXCOMDEX closed at 3496.32 up by 0.70%., while MCXMETAL closed at 4454.83 up by 0.70% , MCXENERGY closed at 3189.34 up by 1.12% and MCXAGRI closed at 2892.5 up by 0.22%.

At NCDEX, the Dhaanya, an agri commodity benchmark index, was closed at 1130.73 down by 1.47%.

On the domestic front, Crude oil futures turned bearish on Thursday, from a record high, on the back of tracking weak global cues. April future dropped by Rs. 74, or 1.58%, to Rs. 4,601.00 per barrel on the Multi Commodity Exchange (MCX) Yesterday.

Oil futures declined in New York as the Arab League announced that it is reviewing a plan proposed by Venezuelan President Hugo Chavez to end the political tensions in Libya, easing concern that oil supply will disrupt. Persisting unrest has cut Libyan oil supplies by around 1 million barrels a day, according to the International Energy Agency. Moreover, crude prices also declined due to profits booking by the investors at the existing higher levels. Investors are closely watching the conditions in the Libya as any negative sign could lift the price further higher.

AT MCX, Crude oil future price for April contract closed on Thursday at Rs 4,620.00 a barrel, down by 1.17%, after opening at Rs 4,699.00 against the previous close price of Rs. 4,675.00. It touched the intra-day low of Rs. 4,601.00 per barrel with a business volume of 18,089 lots.

Crude oil for April future, at NYMEX, closed on Thursday at $101.91 per barrel, down by 32 cents, after opening at $102.39 against the previous close price of $102.23. It touched the intra-day low of $100.15 with a business volume of 446,378 lots.

Yesterday at the MCX, the market breadth was Positive with 37 commodities advanced and 26 commodities declined. Wherein at NCDEX the market breadth was negative with 32 commodities advanced and 66 commodities declined.

The top gainers at MCX were BR Crude oil for March contract (3.53%), BR Crude oil for April contract (3.43%), Lead for May contract (2.59%), Cardamom for June contract (2.20%), Lead Mini for May contract (2.19%) and Lead Mini for March contract (1.99%).

Similarly the top losers at MCX were Potato for May contract (-4.0%), Platinum for March contract (-3.99%), Potato for April contract (-3.97%), Iron Ore for March contract (-3.97%), Iron Ore for April contract (-3.77%), and Potato TRWR for May contract (-3.17%).

Moreover, the gainers at NCDEX were Guar Gum for August contract (3.0%), Pepper for July contract (2.3%), Pepper for June contract (2.0%), Pepper for March contract (1.4%) and Pepper for May contract (1.4%).

The top losers at NCDEX were Coriander for May contract (-4.0%), Guar Gum for March contract (-4.0%), Guar Gum for April contract (-4.0%), Guar Gum for May contract (-4.0%), Guar seed for March Contract (-4.0%).

Yesterday at MCX, the top traded commodities in terms of quantity were Crude Oil for March contract with 236290 lots, Silver RM for April contract with 141800 lots, Silver for May contract with 103983 lots, Copper for April contract with 98550 lots, Silver M for April contract with 61210 lots, and Gold M for April contract with 56685 lots.

As a result of restricted arrivals from major producing region, refined soya oil futures surged in the domestic market on Thursday. April future rose as much as 0.71% to Rs. 645.30 per 10 kg on the Multi Commodity Exchange (MCX) due to supply concern, and pick-up in spot demand. Moreover, speculators enlarged their long position in order to meet marriage season demand.

At Multi Commodity Exchange (MCX), refined soya oil for April contract closed at Rs. 642.45 per 10 kg, up by 0.26%, after opening at Rs. 645.30 against the previous close price of Rs. 640.75. It touched the intra-day high of 645.30.

Copper for April contract, at MCX, closed at Rs 448.80 per kg after opening at Rs 449.10 against the previous close price of Rs. 449.30 and copper Future for June contract closed at Rs. 452.70 after opening at 453.20 against the previous close price of Rs. 452.80.

Natural gas for March contract closed at Rs 172.00 per mmBtu after opening at Rs 173.20 against the previous close price of Rs. 173.20. It touched the intra-day low of 170.40 with a business volume of 41,374 lots.

Yesterday, Gold futures dropped in the Indian bullion market due to tracking global cues. April future fell as much as 1.88% to $1,410.6 per ounce on the COMEX as the Arab League announced that it is reviewing a plan proposed by Venezuelan President Hugo Chavez to end the political tensions in Libya, eroding safe haven investment in precious metal. Venezuelan President Hugo Chavez and Libyan leader Muammar Qaddafi discussed a plan to resolve the persisting unrest in the Middle East country, the Wall Street Journal said yesterday.

Moreover, better than expected U.S. jobless claims data also eroded a safe haven investment appeal from precious metals as U.S. Department of Labor showed yesterday that U.S. initial jobless claims fell substantial by 23,000 to 368,000 in the week ended February 26, 2011 as compared to previous figure of 391,000.

At MCX, Gold Future for April contract closed on Thursday at Rs 20,858.00 per 10 grams, down by 1.38%, after opening at Rs 21,111.00 against the previous close price of Rs. 21,152.00. It touched the intra-day low of Rs. 20,833.00 per 10 grams with a business volume of 47,649 lots.

At COMEX, gold future for April contract closed yesterday at $1,416.4 per ounce, down by $21.3, after opening at $1,436.5 against the previous close price of $1,437.7 per ounce. It touched the intra-day low of 1,410.6 with a business volume of 160,582 lots.

Silver for March contract closed at Rs 50,258.00, down by 1.50%, after opening at Rs 50,651.00 against the previous close price of Rs. 51,026.00. It touched the intra-day low of Rs. 50,111.00 with a business volume of 998 lots.

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