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Raahi Shah
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Gold – silver fast, crude oil persistent
Comaks half per cent up on the gold with the dollar trading at 1,720, while silver gained 1.5 per cent being seen, the prices are above $ 35. On Wednesday, about 3.5 per cent in the domestic market with gold closed below 28,000 rupees, about 6 per cent fall, while 58,000 were shut down.
International business is slack in crude oil, the price is above $ 107. On Wednesday, crude oil in the domestic market slipped nearly 2 per cent to Rs 5223.
Almost half per cent on the London Metal Exchange is trading with. Copper dropped nearly half a percentage point on Wednesday in the domestic market had closed around Rs 425
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India Pepper futures expected to open lower on Monday due to ample supply from the fresh crop amid subdued spot demand.Demand from the overseas and domestic buyers remains dull currently as buyers remain absent from the market. Fresh arrivals from the domestic will gain momentum at the end of the month (January 2012).
COPPER (FEB) OVERVIEW:
TREND BULLISH
SUPPORT 1: 416.55,
SUPPORT 2: 414.35,
RESIST 1: 419.55,
RESIST 2: 421.80,
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SENSATIONAL RETURN IN COPPER FEB BUY CALL 3RD TG 423 ACHIEVED,BOOK FULL PROFIT
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BUY COPPER FEB ABOVE 425.7 TG 427.5,429.5,432 SL 422.7
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IDFC FUTURES 1ST TG 117.5 ACHIEVED, 2ND TG IS 118.5 REVISE SL AT 115.95
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CS CALL: BUY JET AIRWAYS FUTURES AROUND 234 TG TO FOLLOW
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CRUDE (JAN) OVERVIEW:
TREND CONSOLIDATE
SUPPORT 1: 5015,
SUPPORT 2: 4905,
RESIST 1: 5215,
RESIST 2: 5325,
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PREMIUM CALL: SELL NATURAL GAS JANURAY BELOW 132 TG 130.5,129,127 SL 135.15
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GOLD (FEB) OVERVIEW:
TREND CONSOLIDATE
SUPPORT 1: 27405,
SUPPORT 2: 27295,
RESIST 1: 27610,
RESIST 2: 27835,
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Chana prices witnessed mixed trend and settled 0.96% and 0.75% higher w-w. Lower area covered under Chana till date is controlling prices from falling sharply. Chana sowing across India as on January 13th 2012 is 5.23% down at 8.722 million hectares as compared to 9.22 million hectares in the same period previous year. Refined soy oil declined further in the spot markets on bearish tone in futures and beneficial rains forecast in Argentina and Brazil.
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SILVER (MAR) OVERVIEW:
TREND BEARISH
SUPPORT 1: 52035,
SUPPORT 2: 51845,
RESIST 1: 52275,
RESIST 2: 52425,
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