Thursday, 21 February 2013

MCX Market View on 21-Feb-2013


MCX Gold
International Gold trading nearly 17 dollars Lower than yesterday MCX closing price.So,In MCX Opening Gap Down only.But Losses may limited due to Indian Rupee(USDINR).

 All markets are Technically weak,Hedge Fund News & U S Federal s Bond Buying slowness decision,Impact all markets in Negative/Selling side.

 Reasons For Gold Falling:

 Gold fell to seven month low due to rumour of hedge funds liquidate positions across metals and oil markets makes speculators liquidate their positions.The U.S. dollar held firm,having enjoyed its biggest one-day gain in seven months against a currency basket as commodities and U.S. equities slid on rumour s of a hedge fund in trouble.

 U.S. Federal Reserve's most recent meeting suggested the central bank may slow or stop buying bonds sooner than expected.Once U S Federal Stops/slow Bonds buying it impacts Gold prices negatively.

 World's Largest Gold backed Exchange traded Fund,SPDR Gold Trust,  Holdings slumped 1.57 percent from the previous session to 1,299.164 tonnes on Feb 20, this is the lowest in more than five months.

 India's Commerce ministry has recommended suspension of gold jewellery imports from Thailand, which are taxed at only 1 percent under a bilateral agreement while such imports from other countries are taxed at 10 percent.

Yesterday(20.02.2013) MCX Gold Closing price 29.MCX Gold holding  Support at 30140,once it breaks market May fall up to 30070 levels.Indian Rupee (USDINR) also plays a role MCX Gold make trade lower.

MCX Gold Technical levels

MCX Gold Upper side breakout point             :29570(Buy Comes above that point)

MCX Gold Technical Resistance levels           :29612,29654,29674

MCX Gold Down side breakout point             :29480(Sell Comes below that point)

MCX Gold Technical Support levels                 :29438,29390,29320

  Yesterday(20.02.2013) MCX Gold Bhav Copy for Data Reference
Commodity
Contract
Open
High
Low
Close
GOLD
5-Apr-13
30028
30040
29505
29579
GOLD
5-Jun-13
30570
30570
30047
30116
GOLD MINI
5-Mar-13
29699
29699
29151
29221
GOLD MINI
5-Apr-13
30055
30055
29515
29588

MCX Silver

Silver trading 20 cents lower than yesterday MCX closing price.

Yesterday(20.02.2013) MCX Silver Closing price 53720.
MCX Silver Technical levels

MCX Silver Upper side breakout point          :53740(Buy Comes above that point)

MCX Silver Technical Resistance levels         : 53870,53940,54030

MCX Silver Down side breakout point           :53240(Sell Comes below that point)

MCX Silver Technical Support levels             :53120,52960,52898

Yesterday(20.02.2013) MCX Silver Bhav Copy for Data Reference
Commodity
Contract
Open
High
Low
Close
SILVER
5-Mar-13
55259
55278
53266
53720
SILVER
4-May-13
56717
56730
54728
55194
SILVERMINI
28-Feb-13
55200
55299
53282
53729
SILVERMINI
30-Apr-13
56609
56790
54785
55227
SILVERMICRO
28-Feb-13
55248
55300
53280
53728
SILVERMICRO
30-Apr-13
56750
56784
54755
55230


MCX Crude Oil

Crude Oil trading 13 cents lower than Yesterday MCX Closing level.

Yesterday(20.02.2013) MCX Crude oil Closing price 5164.

MCX Crude Oil Technical levels

MCX Crude oil Upper side breakout point          :5191(Buy Comes above that point)

MCX Crude oil  Technical Resistance levels        : 5203,5224,5234

MCX Crude oil  Down side breakout point          :5146(Sell Comes below  that point)

MCX Crude oil  Technical Support levels             :5128,5114,5206

Yesterday(20.02.2013) MCX Crude oil Bhav Copy for Data Reference
Commodity
Contract
Open
High
Low
Close
CRUDEOIL
19-Mar-13
5250
5289
5132
5164
CRUDEOIL
19-Apr-13
5296
5350
5178
5210


MCX Natural Gas

Natural Gas trading 25 cents lower from Yesterday MCX Closing level.

 Yesterday(20.02.2013) MCX Natural Gas Closing price 178.5.

MCX Natural Gas Technical levels

MCX Natural Gas Upper side breakout point      :179.10(Buy Comes above that point)

MCX Natural Gas Technical Resistance levels     : 179.80,180.4,181.10

MCX Natural Gas Down side breakout point      :175.40(Sell Comes below that point)

MCX Natural Gas Technical Support levels         :174.70,173.90,172.80

Yesterday(20.02.2013) MCX Natural Gas Bhav Copy for Data Reference
Commodity
Contract
Open
High
Low
Close
NATURALGAS
25-Feb-13
178
179.6
176.6
178.5
NATURALGAS
25-Mar-13
182.2
183.5
180.7
182.5

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Posted by Vruksha Financial Planners at 10:05
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