Market Update

Market Watch

Wednesday, 10 July 2013

Mcx commodity Market Trends-Live Calls & News

India is the biggest metal buyer in the world though the demand is low but traders are expecting hike in metal if prizes fall below 25000 rupees mark. Imports of gold has declined near about 81 percent on month to 31.5 tonnes in June after the government raised import duty and stopped consignment imports, but demand may rise in coming month.

Metal market is quite slow now a days but some nominates agencies are still importing metal traders are saying that their clients are still eying on drop of 4 % on metal from current level.

Gold prices recovered sharply Rs 280 to Rs 26,830 per 10 grams in the national capital today on fresh buying by stockists and investors at prevailing lower levels amid a firm global trend.

Silver prices also rebounded by Rs 610 to Rs 40,750 per kg on increased offtake by industrial units and coin makers.

In line with a general firm trend, silver ready rebounded by Rs 610 to Rs 40,750 per kg and weekly-based delivery by Rs 490 to Rs 40,600 per kg, respectively. The white metal had lost Rs 1260 in last three sessions.

Silver coins spurted by Rs 1,000 to Rs 79,000 for buying and Rs 80,000 for selling of 100 pieces.

 Market Wrap:
  • Gold futures climbed for the second straight day 
  • Silver futures for September delivery climbed 0.5 percent 
  • Crude advanced to a 14-month high 
  • Natural gas futures slipped in New York 
  • Copper slide most in base metals almost 3% 
  • Lead slide more than 2% on Tuesday
Technical Trends:
GOLD (Aug)
Trend: Consolidate  | Strategy: Sell on high
R1- 26250, R2- 26780 | S1-25850 , S2- 25580
Trend: Consolidate  | Strategy: Sell on high
R1- 41270, R2- 42450 | S1-39150 , S2- 37500
Trend: Consolidate  | Strategy: Sell on high
R1- 417, R2- 426| S1-403 , S2- 395

Stock cash Plus Calls 10/07/2013

BUY MRF (LCP 12472.95) ABOVE 12510 TG-12560-12630

BUY LA OPALA (LCP-388.95) ABOVE 391 TG-397-405
BUY JUST DIAL (LCP-718.1) ABOVE 722 TG-729-740
BUY HERITAGE FOOD  (LCP-491.8) ABOVE 495 TG-503-511

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