Sandeep Sinha

Senior Sub-Editor

Moneycontrol News

MCX crude palm oil settles near lifetime high; expert suggests buy-on-dips strategy

BUSINESS

MCX crude palm oil settles near lifetime high; expert suggests buy-on-dips strategy

The agri commodity has been trading higher than 5, 20, 50, 100 and 200 days’ moving averages on a daily chart. The momentum indicator Relative Strength Index (RSI) is at 63.24, which indicates bullish movement in the prices.

Crude oil rises 6.47% to Rs 4,722/barrel, traders raise net long position; outlook bullish

BUSINESS

Crude oil rises 6.47% to Rs 4,722/barrel, traders raise net long position; outlook bullish

Crude oil prices traded higher during the week on higher demand prospectus amid signs of economic recovery in top oil-consuming nations.

Silver prices rise 2.48% for the week to Rs 68,601/kg; check outlook and strategy for this week

BUSINESS

Silver prices rise 2.48% for the week to Rs 68,601/kg; check outlook and strategy for this week

LBMA Silver Spot is trading above all major Daily Moving Averages indicating a strong uptrend up to $26.90-$28.30 levels. Support is at $25.30-$24.30 levels, said Iyer.

Cotton tumbles 2.15% to Rs 21,380 per bale this week; outlook bullish

BUSINESS

Cotton tumbles 2.15% to Rs 21,380 per bale this week; outlook bullish

With the ongoing semi-lockdown situation in various parts of India and strict curfew in Maharashtra, there has been a report of supply tightness and panic buying in the domestic market.

Gold price rises 1.63% to Rs 47,350/10 gm; Ideas for investors, technicals and key events to watch out for

BUSINESS

Gold price rises 1.63% to Rs 47,350/10 gm; Ideas for investors, technicals and key events to watch out for

LBMA Gold Spot on the weekly chart has given a breakout of its range-bound movement of $1,710-$1,750 levels indicating a bullish reversal in the counter.

MCX Copper climbs 3% to Rs 709.5 per kg this week, experts suggest buy-on-dips strategy

BUSINESS

MCX Copper climbs 3% to Rs 709.5 per kg this week, experts suggest buy-on-dips strategy

"For next week, the outlook is positive but we recommend to go long on dip on MCX. The price of Rs 700- Rs 699 will act as support for the April contract and on the flip side, it can go up to Rs 720- Rs 730," said Jigar Trivedi, Research Analyst- Commodities Fundamental at Anand Rathi Shares & Stock Brokers.

MCX Natural gas futures climb 6% to Rs 200/mmBtu this week, outlook bullish

BUSINESS

MCX Natural gas futures climb 6% to Rs 200/mmBtu this week, outlook bullish

The energy commodity has been trading higher than 5, 20, 50, 100 and 200 days' moving averages on a daily chart. The momentum indicator Relative Strength Index (RSI) is at 58.64, which indicates upbeat momentum in the prices.

Crude palm oil futures touch fresh lifetime high of Rs 1,173/10 kg on MCX

BUSINESS

Crude palm oil futures touch fresh lifetime high of Rs 1,173/10 kg on MCX

The agri commodity has been trading higher than 5, 20, 50, 100 and 200-days’ moving averages on a daily chart. The Relative Strength Index (RSI) is at 62.20, which indicates bullish momentum in the prices.

Copper futures dip 1% to Rs 711 per kg, experts suggest 'buy on dip' strategy

BUSINESS

Copper futures dip 1% to Rs 711 per kg, experts suggest 'buy on dip' strategy

MCX Copper April has given a breakout of its range-bound movement where it is moving towards its all-time high level of Rs 737 level indicating a strong uptrend in the counter.

Cotton futures slid 1.24% to Rs 21,510 per bale on weak global cues

BUSINESS

Cotton futures slid 1.24% to Rs 21,510 per bale on weak global cues

The momentum indicator Relative Strength Index (RSI) is at 50.53, which indicates sideways movement in prices.

Gold gives a breakout, jumps above Rs 47,000/10 gram on flight to safety; silver climbs Rs 789 a kg

BUSINESS

Gold gives a breakout, jumps above Rs 47,000/10 gram on flight to safety; silver climbs Rs 789 a kg

Gold traded higher to a more than one-month peak as US Treasury yields slipped despite better-than- expected US economic data, pushing investors to bullion as a refuge against possible inflation ahead.

Crude oil futures down 0.21% to Rs 4,732 per barrel on firm rupee; Brent climbs above $67

BUSINESS

Crude oil futures down 0.21% to Rs 4,732 per barrel on firm rupee; Brent climbs above $67

The black gold has been trading higher than 5, 20, 50, 100 and 200 days' moving averages on the daily chart. The momentum indicator Relative Strength Index is at 60.46 indicating bullish movement in prices.

Silver futures fall marginally to Rs 68,422 per kg on strong rupee

BUSINESS

Silver futures fall marginally to Rs 68,422 per kg on strong rupee

The momentum indicator Relative Strength Index (RSI) is at 58.81, which indicates upbeat momentum in prices.

Natural gas futures flat at Rs 200 per mmBtu on lower inventory build up

BUSINESS

Natural gas futures flat at Rs 200 per mmBtu on lower inventory build up

“Technically, MCX Natural Gas April hold resistance near Rs 202-Rs 206 levels and has support near Rs 198-Rs 195 levels”, said Sriram Iyer, Senior Research Analyst at Reliance Securities.

Aluminium futures touch lifetime high of Rs 190 per kg on MCX amid firm global cues

BUSINESS

Aluminium futures touch lifetime high of Rs 190 per kg on MCX amid firm global cues

The momentum indicator Relative Strength Index (RSI) is at 67.11, which indicates bullish movement in prices.

Crude Palm oil futures hit lifetime high of Rs 1,167/10 kg on the MCX

BUSINESS

Crude Palm oil futures hit lifetime high of Rs 1,167/10 kg on the MCX

The agri commodity has been trading higher than 5, 20, 50, 100 and 200-days’ moving averages on the daily chart. The Relative Strength Index (RSI) is at 60.83, which indicates positive momentum in the prices.

Copper futures gain 1.64% to Rs 717.95 per kg on falling mines supply, firm demand

BUSINESS

Copper futures gain 1.64% to Rs 717.95 per kg on falling mines supply, firm demand

Supply worries arising from major Copper producing nations amid a weaker US Dollar has painted a favourable picture for the red metal prices.

Cotton futures gain 0.69% to Rs 21,830 per bale on lower inventory

BUSINESS

Cotton futures gain 0.69% to Rs 21,830 per bale on lower inventory

The soft commodity has been trading higher than 5, 20, 50, 100 and 200 days’ moving averages on the daily chart. The Relative Strength Index (RSI) is at 57.32 which indicates upbeat momentum in prices.

Gold prices jump to Rs 46,545/10 gm on safe-haven appeal; silver surges Rs 1,178 a kg

BUSINESS

Gold prices jump to Rs 46,545/10 gm on safe-haven appeal; silver surges Rs 1,178 a kg

The broader range on COMEX could be between $1720- 1750 and on the domestic front, prices could hover in the range of Rs 46,580- 47,070, said Damani.

Crude oil futures slip 0.80% to Rs 4,714/barrel; WTI trades near $63/bbl

BUSINESS

Crude oil futures slip 0.80% to Rs 4,714/barrel; WTI trades near $63/bbl

The International Energy Agency (IEA) forecasted global oil demand and supply to rebalance in the second half of the year.

Silver futures rise 0.62% to Rs 68,059 per kg tracking gains in gold, dollar weakness

BUSINESS

Silver futures rise 0.62% to Rs 68,059 per kg tracking gains in gold, dollar weakness

The semi-precious metal has been trading higher than 5, 20, 50, 100 and 200 days’ moving averages on the daily chart. The momentum indicator Relative Strength Index is at 57.94 which indicates bullish momentum in prices.

Natural gas futures fall 0.51% to Rs 195.30 per mmBtu ahead of inventory report

BUSINESS

Natural gas futures fall 0.51% to Rs 195.30 per mmBtu ahead of inventory report

The commodity has been trading higher than 5, 20 and 200 days' moving averages but lower than the 50 and 100 day’s moving average on a daily chart. The momentum indicator Relative Strength Index (RSI) is at 53.78 which indicates positive momentum in the prices.

Zinc futures tank 2.7% to Rs 221.55 per kg on weak global trend; outlook bullish

BUSINESS

Zinc futures tank 2.7% to Rs 221.55 per kg on weak global trend; outlook bullish

Falling production is likely to add worries to the prices, however, the demand/usage of metals and ores is also forecasted to remain strong especially in China and other Asian countries with positive economic reports in India.

Copper futures slip 0.54% to Rs 686.10 per kg on China concern

BUSINESS

Copper futures slip 0.54% to Rs 686.10 per kg on China concern

The non-ferrous metal has been trading higher than 20, 50, 100 and 200 days' moving averages but lower than the 5-day moving average on the daily chart. The Relative Strength Index (RSI) is at 55.07 which indicates bullish momentum in prices.

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