Tuesday, September 1, 2015
MCX Commodity Intraday Calls For Today: 1st Sept 2015
Sharp decline in the global market has a strong impact on the domestic market too. MCX Crude open with a strong decline. However, because of confusion in rising interest rates in US, the bullion is trading sluggish. On the other hand in Base Metals is trading down due to prospect of fall in demand from China. In Agri commodities mustard, refined grains are looking weak for today.
MCX Gold October futures is trading with a downtrend of 0.07 percent at Rs 26642 per ten grams. While silver prices also slipped 0.27 percent and has come to Rs 34284 per kg. Crude oil is trading at 2963 by losing 1.40 per cent today. Base metals also fell by 0.25 to 0.60 percent.
All eyes are on The US central bank Federal Reserve's meeting on September 16 and 17. Indeed, this meeting may indicate an increase in US interest rates. If interest rates rise then major currency will see a sharply bull trend against the dollar index and also it will have a negative impact on commodity prices.
MCX Gold October futures Buy between 26480 to 26530 level to get the intraday target of 26750 and 26780 also put a stoploss at 26350
MCX Nickel September futures Buy at a price range of 658-660 with a stop loss at 648 and set an intraday target of 675 and 680 level
MCX Crude oil September futures Buy Intraday at 2920 level for the target of 3020 and 3120 level with a stoploss at 2850 level.
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