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Dec 28, 2012, 02.46 PM IST | Source: Moneycontrol.com

Sell MCX Gold at Rs 30755; tgt Rs 30690: Dani Commodities

Dani Commodities has come out with its report on MCX Gold, Silver, Copper, Lead, Zinc, Nickel, Crude Oil and Natural Gas. According to the research firm, one can sell MCX Gold at Rs 30755 with a stop-loss of Rs 30795 for the target of Rs 30690.

Dani Commodities has come out with its report on MCX Gold, Silver, Copper, Lead, Zinc, Nickel, Crude Oil and Natural Gas. According to the research firm, one can sell MCX Gold at Rs 30755 with a stop-loss of Rs 30795 for the target of Rs 30690.

Crude oil futures jumped above $91 a barrel in Asia electronic session today supported by fall in the US crude oil supplies and rally in the Asia markets. Crude-oil supplies fell by 1.2 million barrels for the week ended Dec. 21, according to a report from the American Petroleum Institute late Thursday. Gasoline inventories rose by 2.4 million barrels and distillate stocks rose by 2.9 million barrels, the report from the trade group said.

The API data arrived ahead of the more closely watched U.S. Energy Information Administration report due Friday. Analysts polled by Platts expect a 2 million-barrel decline in crude stockpiles. They forecast a rise of 250,000 barrels in gasoline inventories and a decline of 350,000 barrels in distillate supplies. Asian stock markets were higher on Friday with Japanese shares reaching a fresh 2012 high for a second straight session amid persistent weakness in the yen.

The Nikkei Stock Average hit a new 2012 high for a second consecutive day at 10,421.15 after the greenback continued to rally against the yen as investors expect newly-appointed Japanese prime minister Shinzo Abe and his government to carry out their promises for stronger easing measures and a weaker local currency to revive the flagging economy. The index was recently up 0.8% at 10,404.75.

MCX GOLD
International: Major Support at USD1700. Bearish Below USD1700.
Domestic: Sell at 30755, Stoploss 30795, Target 30690.

MCX SILVER
International: Major Support at USD29. Bearish Below USD32.
Domestic: Sell at 58050, Stop loss 58250, Target 57700.

MCX COPPER
Domestic: Sell at 441.50, Stoploss 443, Target 438.

MCX LEAD
Domestic: Sell at 126.90,Stoploss 127.4 , Target 126.

MCX ZINC
Domestic: Sell at 113.40,Stoploss 113.9, Target 112.80.

MCX ALUMINIUM
Domestic: Sell at 112.40, Stop loss 112.90, Target 111.60.

MCX NICKEL
Domestic: Sell at 946, Stoploss 952, Target 938.

MCX CRUDE OIL
International: Major Support for WTI at USD84 Bullish above USD 91
Domestic: Buy at 5015, Stoploss 4980, Target 5050.

MCX NATURAL GAS
Domestic: Sell at 189,Stoploss 191, Target 186.

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