31 AUG 2010
DAILY COMMODITY REPORT - MCX
Gold: Gold yesterday traded in tight range of `18859-`18948 and ended the day with gain
of `36 at `18933 per 10 gram. Today market expected to trade higher.
Recommendation: MCX Gold October Buy at CMP 18933 or fall up to `18890 with stop loss
18831. Target will be `18972-`19050
Silver: In the absence of cues the silver traded range-bound throughout the day. The range
was 30590-30329. However, the trend is still up and at some level we will some good
buying during today’s trade.
Recommendation: MCX Silver December Buy in the range of `30350-`30300 with stop
loss at `30166 for target `30500-`30600. The major hurdle on the upside is `30700, once
crosses it, we may see some sharp gain in silver.
30168 ૢ ૢ
Crude Oil: The prices hold support of `3500 yesterday and made low of `3504. The volume
was thin in buying. Intra-day, the crude oil prices likely to trade lower, however prices may
recover from the lower level.
Recommendation: MCX Sell Crude Oil September at market price `3522 with stop loss at
`3555 for target `3500-`3475
Natural Gas: A bullish engulf pattern has formed in Natural gas with good volume. The
trend may reverse in Natural Gas. The 10 days MA is at 189.
Recommendation: MCX Natural Gas September Positional Buy at market price `183.1-
`178.7 with stop loss at `175 for target `187-`193
Crude Oil ܁܍ܘܜ܍ܕ܊܍ܚ
Natural Gas ۯܝܝܛܜ
Base metal: Overall the base metal looks bullish, the prices likely to correct amid profit
booking and gloomy economy. One should wait for fresh buying in the base metal at the
Please purchase PDFcamp Printer on http://www.verypdf.com/ to remove this watermark.