9/29/2010 05:32:00 PM
Your Advisor
MCX Trend
Gold
On intraday basis, Spot Gold prices have support at $1298/$1287 whereas resistance is seen at $1319/$1330. Spot Silver prices shall find support at $21.49/$21.21 whereas resistance is seen at $22.00/$22.27 levels.
MCX October Gold has support at 19115/19025 whereas resistance is seen at 19270/19355. MCX December Silver shall find support at 32800/32540 whereas resistance is seen at 32700/32820 levels.
Copper
Copper prices will trade with a positive bias today with immediate support for MCX November contract seen at Rs.358.00 Further below; crucial support is seen at 355.00 levels. Whereas resistance is seen at Rs. 363.00 levels & further upwards at Rs. 365.00 levels.
Zinc
Zinc prices will also trade with a positive bias today with immediate support seen at Rs.97.40 level for MCX September contract whereas crucial support is seen at Rs.96.00 level. Short-term resistance is seen at Rs.99.40 whereas major resistance is seen at Rs 100.00 levels.
NCDEX Trend
GuarGuar seed output is likely to rise this year due to increased acreage and a favorable monsoon season in the major producing states of Rajasthan, Gujarat, Haryana and Punjab. In the medium to long term (November onwards) prices will
take cues from the stocks of Guar with the stockists, demand from the overseas buyers and the pace of arrivals of Guar crop.
Chana
In long term (December onwards), bumper crop of Chana in the year 2009-2010 coupled with good carryover stocks will resist prices from trading higher. Prices will also take cues from price quotes of other major pulses. Spread between October and November contract is at Rs. 46 as compared to Rs.36 per qtl.
