Mcx Tips Guru

Gold Tips : (MCX-Apr'11): SEE what we wrote on Monday: Still you want any proof:

Gold will continue maintain its down move. Last trading day, a recovery from lower level was seen in this counter but this is to confuse the traders. Sell at high level will be good strategy. Now, Gold may try to touch its 50 DEMA of 20712. Below, 20630, gold will be in sellers grip for its next target of 20220. 

Silver Tips : (MCX-May'11): See from your own eyes what we wrote on Monday: Above 54500, it may try to touch its psychological figure of 55000-55220 but from there it may start its downward journey for 52000. Technically, this is in overbought zone and any time a sharp correction of 2000 - 4000 point can be start. Sell at high level.

Copper Tips : (MCX-Apr'11): Copper may bounce back from its current level till 438. Downside its taken strong support between 415 and 411. 

Zinc Tips : (MCX-Mar'11): Zinc is in recovery mode from its lower level. It took strong support near 100. We expect that a bounce back may be seen in this counter till 110-112. 

Natural Gas Tips : (MCX-Mar'11): NG may recover from its lower level any time. Short covering is very much expected in this counter. A pull back rally cannot be ruled out for TGT of 192.

Currently, Domestic commodities markets are trading with negative note. Most of the indices are showing downward trend on Multi Commodity Exchange (MCX) except MCXAGRI. At MCX futures, MCXCOMDEX is trading at 3,408.43 (down by 1.67%), MCXMETAL is trading at 4,343.40 (down by 1.72%), MCXENERGY is trading at 3,123.42 (down by 2.48%), and MCXAGRI is trading at 2,790.22 (up by 0.36%). (At 05:24 PM today).

At NCDEX, the Dhaanya, an agri commodity index, closed at 1,104.61, down by 0.15% (At 05:00 PM today).

On the domestic front, cardamom futures advanced in the domestic market due to strong demand in the spot market. April future surged as much as 1.79% to Rs. 1,119.00 per kg on the Multi Commodity Exchange (MCX) today. 

Speculators increased their long positions at the existing price level. Moreover, restricted arrivals from the major producing regions also supported the prices in futures market.

At Multi Commodity Exchange (MCX), cardamom future for April contract closed at Rs. 1,113.00 per kg, up by 1.25%, after opening at Rs. 1,095.00 against the previous close price of Rs. 1,099.30. It touched the intra-day high of Rs. 1,119.00 per kg. (At 05:20 PM today). 

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