Sell MCX Gold at Rs 29640; tgt Rs 29520: Dani Commodities

Dani Commodities has come out with its report on bullion, metals and energy. According to the research firm, one can sell MCX Gold at Rs 29640 with a stoploss of Rs 29700 for a target price of Rs 29520.

Cyprus and its institutional lenders have reached a bailout deal, according to reports citing European Union officials. As part of the agreement the country will impose a 40% haircut on Bank of Cyprus depositors holding more than 100,000 euros ($129,760) in their accounts. The deal will now be put to the Eurogroup in Brussels for approval. The weekend saw tense meetings between Cyprus and the Troika -- the European Commission, the European Central Bank and the International Monetary Fund -- to reach a deal before a Monday evening funding deadline.

MCX GOLD
International: Major Support at USD1580. Bearish below USD1580.
Domestic: Sell at 29640, Stoploss 29700, Target 29520.

MCX SILVER
International: Major Support at USD28. Bearish below USD28.
Domestic: Sell at 54220,stoploss 54480, Target 53900.

MCX COPPER
Domestic: Buy at 417.50, Stoploss 415.50, Target 421.

MCX LEAD
Domestic: Buy at 118.20, Stoploss 117.70, Target 119.

MCX ZINC
Domestic: Buy at 104.70, Stoploss 104.20, Target 105.30

MCX ALUMINIUM
Domestic: Buy at 104.50, Stoploss 104, Target 105.10.

MCX NICKEL
Domestic: Buy at 925, Stoploss 920, Target 933.

MCX CRUDE OIL
International: Major Support for WTI at USD89 Bullish above USD 91
Domestic: Buy at 5120, Stoploss 5100, Target 5150.

MCX NATURAL GAS
Domestic: Sell (April) at 215.50, Stoploss 217, Target 213.

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