Monday 28 January 2013

MCX market view for 28/01/2013



MCX Gold

International Gold traded 1 dollars higher from Friday s MCX closing price. Gold gained by the news of central banks in Russia and Kazakhstan increased holdings last month.As per  International Monetary Fund’s data,Kazakhstan’s stockpile expanded 1.7 percent to 115.3 metric tons last month & Russia added 2.1 percent to 957.8 tons. 

The Gold rallied for 12 years through 2012 Central banks around the world are expanding their holdings to diversify their reserves.

Yesterday MCX April contract Gold Closing price 30893

MCX Gold having support at  30895,Friday MCX gold closed at 30893 that below that support.Today Stock market are trading higher,makes Indian Rupee (INR) strong,it pulled gold trade lower.

MCX Gold Resistance  30936,31115,31269
MCX Gold Support       30860,30725,30660

Yesterday MCX Gold Bhav Copy for Data Reference
Commodity
Contract
Open
High
Low
Close
GOLD
5-Feb-13
30458
30488
30258
30331
GOLD
5-Apr-13
31051
31060
30821
30893
GOLDM
5-Feb-13
30451
30505
30267
30352
GOLDM
5-Mar-13
30800
30835
30601
30664




MCX Silver


Yesterday MCX Silver Closing price 58250

Silver also traded nearly slightly higher friday MCX closing price.MCX Silver 200 days Moving average at 58179.

MCX Silver Resistance   58430,58690,58950
MCX Silver Support        58170,57940,57555

Yesterday MCX Silver Bhav Copy for Data Reference

Commodity
Contract
Open
High
Low
Close
SILVER
5-Mar-13
58954
59034
58176
58250
SILVER
4-May-13
60358
60358
59551
59662
SILVERM
28-Feb-13
59000
59148
58210
58274
SILVERM
30-Apr-13
60290
60450
59577
59689
SILVERMIC
28-Feb-13
59000
59070
58211
58277
SILVERMIC
30-Apr-13
60301
60400
59591
59690

MCX Crude Oil

Crude Oil traded 10 cents lower from Yesterday MCX Closing level. MCX 

Crude oil struggle to trade above resistance of 5204.

Yesterday MCX Crude oil Closing price 5194


MCX Crude oil Resistances    5204,5212,5224

MCX Crude oil Supports         5180,5167,51
45

Yesterday MCX Crude oil Bhav Copy for Data Reference

Commodity
Contract
Open
High
Low
Close
CRUDEOIL
19-Feb-13
5177
5205
5155
5194
CRUDEOIL
19-Mar-13
5234
5251
5203
5241

MCX Copper

Yesterday MCX Copper Closing price 436.6

Copper Trading slightly higher than friday s MCX closing price.China and Japan Economic data are supporting news to the copper& London and Shanghai  exchanges stockpiles drop also supportive for the market.

Chinese industrial companies’ profits rose for a fourth month in last month signs the country’s economic rebound is gaining momentum. 

Japan’s Cabinet Office reported today that GDP will be 2.5 percent in the year to March 31, 2014,from previous 1.7 percent forecast.

MCX copper gave close below strong support at 438. If copper opens 

below 436,likely to fall upto 432. 


Yesterday MCX Copper Bhav Copy for Data Reference

Commodity
Contract
Open
High
Low
Close
COPPER
28-Feb-13
438.45
440.6
434.5
436.6
COPPERM
28-Feb-13
438.3
440.6
434.5
436.55

                                                                                                                                                                                                                                      
MCX Copper Resistances     438.90,441.70,443.30


MCX Copper Supports          436.30,433.10,431.90



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