Thursday 12 July 2012

MCX Base Metal Tips- Copper, Gold, Silver Trend Today

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Base Metal Trend :- we expect base metals to trade on a bearish note on the back of rise in risk aversion in the global markets which will lead to decline in base metals prices. Additionally, a stronger DX coupled with expectations of decline in European industrial production will also act as a negative factor for the prices. Depreciation in the Indian Rupee will however prevent sharp fall in prices on the MCX. 

Mcx copper Trend Today :- Copper is likely to trade on sidelines during the morning session on Thursday, 12 July 2012, as investors hopes were soured due to the uncertainty over the US Federal reserve stimulus measures. In addition, Copper prices might trade in tight range craving for China's GDP data due on Friday, 13 July. Copper is likely to find support at Rs. 418 per kg and Rs. 414.3 per kg and resistance at Rs. 425 per kg and Rs. 426.6 per kg. 

Base Metal tips Today – Mcx copper Buy Around 422, Stop loss 420, with target of 425 / 426.5. 

MCX bullion Trend (Gold silver ) :- Mcx bullion is expecting to trade on a negative note on the back of rise in risk aversion in the global markets coupled with strength in the DX. However, depreciation in the Indian Rupee will restrict sharp fall in the prices. 

Gold MCX Tips For Today :- Sell mcx gold Around 29325, with stop loss of 29375, and target of 29225 / 29150. 

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