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Feb 12, 2013, 01.36 PM IST | Source: Moneycontrol.com

Buy MCX Crude Feb around Rs 5180; SL Rs 5130: Fortune Fin

Fortune Financial Servies has come out with its report on bullion, metals and energy. According to the research firm, MCX Crude oil February contract is looking positive for the day. Market may find support near Rs 5180 & Rs 5130; intraday resistance can be seen near Rs 5260 & Rs 5310. Day traders can buy intraday on dips.

Fortune Financial Servies has come out with its report on bullion, metals and energy. According to the research firm, MCX Crude oil February contract is looking positive for the day. Market may find support near Rs 5180 & Rs 5130; intraday resistance can be seen near Rs 5260 & Rs 5310. Day traders can buy intraday on dips.

Bullion: Gold futures on local exchanges were trading lower tracking the fall in international markets, but the fall was restricted due to weakness in the rupee against the dollar. On COMEX, gold futures came under pressures amid thin trading volumes as Chinese market was closed due to the week-long Lunar New Year holidays.

Energy: Domestic crude oil futures were trading higher mirroring similar movement in benchmark contracts on the New York Mercantile Exchange and depreciation in rupee against the US dollar. A weak rupee makes import of dollar-denominated commodities like crude oil expensive.

Metals: Base metals were moving in a narrow range on the MCX tracking similar movement in benchmark contracts on the London Metal Exchange, where movement remained subdued due to absence of cues from China. However, weakness in the dollar against the euro and positive China import data released last week lent some support to LME metal futures.

MCX Gold April Contract is looking negative for the day. Market may find support near 30560 & 30450; intraday resistance can be seen near 30730 & 30840. Day traders are advised to sell intraday on rise. (Sell around 30730 with SL 30840, for the target of 30560 & 30450.)

MCX Silver March Contract is looking negative for the day. Market may find support near 57200 & 56700; intraday resistance can be seen near 57900 & 58400. Day traders are advised to sell intraday on rise. (Sell around 57900 with SL 58400, for the target of 57200 & 56700.)

MCX Natural Gas February contract is looking negative the day. Market may find support near 173 & 170 intraday resistance can be seen near 177 & 180. Day traders are advised to sell intraday on rise. (Sell around 177 with SL 180 for the target of 173 & 170.)

MCX Crude oil February contract is looking positive for the day. Market may find support near 5180 & 5130; intraday resistance can be seen near 5260 & 5310. Day traders are advised to buy intraday on dips. (Buy around 5180 with SL 5130, for the target of 5260 & 5310.)

MCX Copper February contract is looking slightly positive for the day. Market may find support near 442 & 439; intraday resistance can be seen near 447 & 450. Day traders are advised to buy intraday on dips. (Buy around 442 with SL 439, for the target of 447 & 450.)

MCX Lead February contract is looking slightly negative for the day. Market may find support near 128.20, 127.10, intraday resistance can be seen near 129.60 & 130.70 Day traders are advised to sell intraday on rise. (Sell around 129.60 with SL 130.70 for the target of 128.20 & 127.10)

MCX Nickel February contract is looking slightly positive for the day. Market may find support near 972, 962, intraday resistance can be seen near 992 & 1002.Day traders are advised to buy intraday on dips. (Buy around 972 with SL 962 for the target of 992 & 1002.)

MCX Aluminium February contract is looking slightly positive for the day. Market may find support near 111.50, 110.40, intraday resistance can be seen near 113.10 & 114.20 Day traders are advised to buy intraday on dips. (Buy around 111.50 with SL 110.40 for the target of 113.10 & 114.20)

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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