"Commodity Tips" for today:
The base metals are probably trade with a positive bias on Friday, mainly taking cues from a weaker dollar coupled with optimistic sentiments in the global markets while silver will possibly track movements of base metals.
Two recommended trades for the day are MCX Nickel and "MCX Silver".MCX Nickel March support at Rs 987 and Rs 978 while resistance is seen at Rs 957 and Rs 997. MCX silver May support at Rs 59543 and Rs 60276 while resistance at Rs 61371 and Rs 61912.
Crude Oil:
Resistance 5510-5421 and support 5341
Natural gas
Selling pressure again at higher level. As long as price below 141 levels, consistently avoid bright long and new low tested in coming days.For Today Sell on rise strategy... below 121.12 super hot sell.
MCX Gold
For today consider resistance 28910-28122 and support 27810 as remain hold trading range - wait for break out or break down in either side.
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Friday, March 9, 2012
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