Live MCX Commodity Tips & Cotton Review ~ MCX Commodity Tips

NCDEX - Cotton Updates

International Cotton: NY Cotton futures surged on Friday on speculative buying due to upbeat sentiments in the global financial markets on rising hopes that after the GDP data from China, the country may go for stimulus measures in order to accelerate the economy. Cotton prices were also supported due to rally in the grains complex on account of he drought in US Midwest that led a boost in corn and soybeans prices. Domestic Cotton: MCX Cotton July contract rose sharply by almost 1.5 percent on Saturday. Cotton spot prices also traded on a firmer note. Strong demand from the mills and good buying by the exporters in the domestic markets helped cotton prices to move in the northward irection. Arrivals were reported to be lower.

Gold MCX Trend

with little up side trend gold again on its down side pressure. Spot gold prices declined around 0.2 percent today on the back of rise in risk aversion in the global markets. Additionally, strength in the US Dollar Index (DX) also exerted downside pressure on the gold prices. The yellow metal touched an intra-day low of $1582.39/oz an hovered around $1584.39/oz today till 4:30pm IST. On the MCX, Gold August contract traded on a flat note on account of depreciation in the Indian Rupee and was trading around Rs.29,287/10 gms today.

Base Metal Review

The base metals pack traded lower today on the back of weak global market sentiments along with strength in the DX. Copper, the leader of the base metals declined around 0.8 percent today on account of strength in the DX coupled with negative global markets. However, sharp downfall in prices was cushioned as a result of decline in LME copper inventories. The red metal touched an intra-day low of $7,650.25/tonne and hovered around $7656/tonne today till 4:30pm IST. On the domestic front, prices declined around 0.1 percent and were trading around Rs.425.85/kg today. Depreciation in the Indian Rupee restricted sharp fall in prices on the MCX.

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Expert Speak

CapitalVia Global Research Head of Research Vivek Gupta said: "The good thing to cheer for the investors is that now they own a stake in the company which is much more clean in all the aspects and is amongst the top-five IT companies." Via moneycontrol.com

Commenting on the outlook, the broking firm CapitalVia Global Research said, "Next week, if gold sustains above the level of 26,430 then by breaking the level of 26,890, it may touch the level of 27,250. But if it fails to sustain above 26,430 then may touch the level of then it may test the level of 25,311/25,200. For silver 42,800 may act as good resistance. For the next week, traders can sell on higher level strategy, if MCX Silver September futures sustains below 41,080 then it could test the levels of 40,340/ 39,900." Via myiris.com

Vivek Gupta, head of research, CapitalVia Global Research said, "Technically, Nifty is likely to consolidate in the upcoming session and remain bullishly poised. Major resistance for upside is 6,080 with the crossing of which 6,150 can be touched. For downside, major support is at the level of 5,850 and 5,750."

MCX Support Resistance Levels- 13 June

script	R2	R1	S1	S2	Action
Gold	28372	28100	27625	27420	Buy on Lower levels
Silver	45633	44744	42281	41183	Buy on lower level
Copper	423	418	409	405	sell on higher level
Crude	5679	5608	5420	5325	buy on lower level
Naturalgas	229	225	214	210	Sell on higher level
Lead	128.40	125.65	120.00	117.40	Sell on higher level
Zinc	111.15	109.60	104.35	102.60	Sell on higher Level
Nickel	896	879	816	797	Sell on higher level

NCDEX-SUPPORT & RESISTANCE - 07 August

script	R2	R1	S1	S2	Action
Soybean	4090	4010	3860	3785	Buy on lower level
Turmeric	6870	6740	6000	5860	Buy on higher level
Cottonseed	1745	1715	1650	1620	Buy on lower level
Chana	5055	4960	4770	4675	Buy on lower level
Jeera	17580	17250	16600	16270	Sell on higher level
Pepper	45600	44750	43050	42200	Buy on lower level
Gur	1285	1260	1220	1195	sell on higher level
Musters heed	4660	4510	4340	4255	Buy on lower level

Trading Rules

1. Always do your analysis before trading.

2. Always have a clear and reasonable idea of your objective.

3. Never trade on emotions or other people's forecasts.

4. Buy at support and sell at resistance.

5. Always trade with "STOP LOSS".

6. Never hold a losing position over night.

7. Never add to a losing position.

8. Never risk more than 5 per cent of your trading capital on one trade.

9. Take responsibility for your own trades.

10. If you are breaking any of the above rules then STOP TRADING ? coz you are out of control.

DREAM BIG ; EARN BIG

MCX Commodity Tips - The Bullion Metals