Sell MCX Gold at Rs 29820; taget Rs 29720: Dani Comm

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 29820 with a stop loss of Rs 29890 for the target price of Rs 29720.

Mechel OAO, one of the leading Russian mining and metals companies, announced that its subsidiary Mechel Carbon (Singapore) Pte Ltd. has signed a memorandum for supplies of coking coal with Baosteel Resources Int. Co. Ltd., Baosteel Group Corporation's wholly-owned subsidiary focusing on raw materials supply.

MCX GOLD
International: Major Support at USD1580. Bearish below USD1580.
Domestic: Sell at 29820, Stoploss 29890, Target 29720.

MCX SILVER
International: Major Support at USD28. Bearish below USD28.
Domestic: Sell at 54950, Stoploss 55100, Target 54600.

MCX COPPER
Domestic: Buy at 416, Stoploss 414, Target 418.

MCX LEAD
Domestic: Buy at 117, Stoploss 116.50, Target 117.70.

MCX ZINC
Domestic: Buy at 104, Stoploss 103.50, Target 104.60

MCX ALUMINIUM
Domestic: Buy at 103.30, Stoploss 102.90, Target 103.80

MCX NICKEL
Domestic: Buy at 915, Stoploss 910, Target 923.

MCX CRUDE OIL
International: Major Support for WTI at USD89 Bullish above USD 91
Domestic: Buy at 5050, Stoploss 5030, Target 5080.

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

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.

To read the full report click on the attachment

Read More