Monday, April 9, 2012

MCX Commodity Trading Tips 09 April 2012

Our Commodity Tips experts feel that the long going crisis between US and Iran is seen moderating, due to which MCX Crude oil prices expects to remain under pressure. Go for short in MCX crude oil futures at Rs 5291.155 per barrel with a stop loss placed above Rs 5400.15 per barrel and be expecting prices to move around these levels of Rs 5,236 per barrel.

Buy MCX Gold between Rs 28,100per 10 grams to Rs 28,200 per 10 grams with a stop loss of Rs 27,100 per 10 grams for a target price of Rs 28,280-28,390 per 10 grams levels.

While Copper is moving sideways from past two days so suggests buy near support and sell near resistance. As it is trading near support recommend buy copper at Rs 430.12 per kilogram levels with a stop loss to be placed below Rs 428.45 per kilogram levels. On higher side Expect targets of around Rs 435.78 per kilogram and above that Rs 439.78 per kilogram in next 2 days.

Buy Lead on MCX around Rs 108.50 per kilogram with a stop loss of Rs 105.40 per kilogram for a target of Rs 109.35 per kilogram.

In the previous week MCX Nickel show support at lower level 890 and 925 results in it making a high of 95645. For this week consider support at 931 and above 965.43 buy in small quantity.

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