Wednesday, 8 February 2012

Commodity Tips Trial For MCX & NCDEX Intraday Trading


As mentioned last week, below 5050 to be selling opportunity and it made a low of 4710 and almost gained more than 300 points sharply. Now in this week, consider resistance at 4960, positive bias only above that level...downside support at 4500.
Today: Finally unable to break 4710 and trade above 4810, and finally made a high of 4885 with volume indicating up-side to continue and may test 5000. Real move only above that level.


Trend is very choppy and last week once broke 417, non-stop slide was seen up to 410, but again it took support and made a close at 420. We recommend traders to buy on decline as long as holds 408... For target 425-432-442 in coming days.
Today: For fresh up-move it must cross the 425-427 range... downside support at 415 to watch out.


Some support at lower level and big move was seen last week, which resulted in it making a high of 1072 and closing at 1043. In this week, consider resistance at 1060-1070 and support at 1000.
Today: Decline to buy as long as holds 1000 mark.


Sell on rise strategy... Higher level of 1400-142 to watch out... Downside support at 120 - once break and trade below further fall on the card.

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