5/24/2011 09:48:00 PM
Your Advisor
Commodity News
- Base metals futures ended up with notable gains on Multi Commodity Exchange (MCX) Tuesday on buying support. Nickel and zinc clocked around two per cent gains.
Aluminium May contract ended at Rs 113.05 per kg, up Rs 1.20 or 1.2% and moved in the range of Rs 113.40- 111.60 per kg. Total volume recorded 2,662 lots.
- Copper June futures settled at Rs 404.35 per kg, up Rs 3.70 or 1%. It traded in the range of Rs 406.50- 401.00 per kg. Total volume so far recorded 54,792 lots.
- Lead May closed at Rs 112.50 per kg, up Rs 1.30 or 1.3% and traded between Rs 112.70- 111.30 per kg. Total volumes recorded 6,929 lots.
- Nickel May contract ended at Rs 1,030.20 per kg, up Rs 17.80 or 1.8% and traded between Rs 1,033.40- 1,005.30 per kg. Total volumes recorded 40,150 lots.
- Zinc May contract closed at Rs 97.35 per kg, up Rs 1.75 or 1.8% and traded between Rs 97.50- 95.70 per kg. Total volume recorded so far 9,396 lots.
Silver News
The 54700-51500 congestion regions have been still progressing. Even though, either the side breakout is required to suggest a directional move, intraday we favour an upside breakout and take prices higher towards 55200 initially, followed by 55600/56900 later. Conversely, inability to clear above 54700 prices may trade with mild negative bias.
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