In September 2009, NSEL introduced the concept of paired contracts for trading, which allowed the buying and selling of the same commodity through two different contracts at two different prices on the exchange platform.
With the low cost of production, reduced demand and more importantly the dampening confidence, there can be a new equilibrium for the crude oil prices.
Despite being used as the top fuel for power plants in the US this year the prices hardly benefitted, due to the excesses and overflowing supply.
Nickel prices have corrected significantly over the past many months and now seem to have formed an immediate bottom.
The macro fundamentals suggest that it will not be an easy task for the prices to sustain at higher levels, the rally might have clung on some straws but more green shots does not look very imminent in the near future
In the wake of the fact that the dollar has already rallied in a vertical manner, there is high probability that the worst in gold prices has already been factored in and when the interest rates hike actually comes in, there should be a minimal negative impact
USD-INR pair is expected to trade higher today amid consistent strength in dollar against basket of currencies, says Himanshu Arora, Religare Commodities.
Commodity experts are upbeat on crude, gold, zinc and lead, they advise buying them.
Commodity experts are upbeat on crude and natural gas, they advise buying them. However, they are not so bullish on copper, hence suggest selling it.
Commodity experts are not so upbeat on copper, lead and nickel, they advise selling them.
Sugandha Sachdeva of Religare Commodities recommends selling gold on MCX. "Maintain a stop loss for this trade at Rs 28,350 per 10gm for a target of Rs 27,600 per 10gm", Shah adds.
Commodity experts are not so upbeat on nickel and silver, they advise selling them. However, they expect crude to go high, hence suggest buying it.
Commodity experts are upbeat on crude, copper & gold, they advise buying them. However, they expect selloff in lead till Rs 117 per kilogram, hence suggest selling it.
Sugandha Sachdeva of Religare Commodities advocates selling MCX crude around Rs 5,265 per barrel levels. Sachdeva says, "Keep a stop loss for this trade at Rs 5,320 per barrel for downside target of Rs 5,090 per barrel".
Ram Pitre of Anand Rathi Commodities advises selling crude on MCX at Rs 5,360 – 5,370 per barrel with a stop loss at Rs 5,385 per barrel and a target of Rs 5,265 per barrel.
Sugandha Sachdeva of Religare Commodities suggests going short on zinc MCX April series at levels of around Rs 104.5 per kilogram, keeping a stop in place at Rs 106 per kilogram and prices are likely to drift lower towards Rs 101.6-101.8 per kilogram in near term.
Renisha Chainani of Edelweiss recommends buying copper around Rs 410 per kilogram with stop loss of Rs 407 per kilogram and target of Rs 415 per kilogram on the higher side.
Sugandha Sachdeva of Religare Commodities recommends buying crude MCX April contract at level close to Rs 5,120 per barrel to Rs 5,125 per barrel with stop loss at Rs 5,080 per barrel and targets at Rs 5,175-5,190 per barrel.
Sugandha Sachdeva of Religare Commodities recommends buying gold at Rs 29,500-29,550 per 10gm with stop loss of Rs 29,300 per 10gm. Prices are likely to head higher towards Rs 29,900-29,950 per 10gm in the near term.
Sugandha Sachdeva of Religare Commodities advises long in gold at Rs 29,450 per 10g to Rs 29,480 per 10g with stop loss of Rs 29,300 per 10g and prices are likely to move to Rs 29,700-29,750 per 10g mark.
Sugandha Sachdeva of Religare Commodities advises long on crude oil at levels close to Rs 5,120 per bbl to Rs 5,125 per bbl mark in the MCX April series, keeping a stop in place at Rs 5,080 per bbl mark and price are likely to make a switch towards Rs 5,190 per bbl mark on the higher side.
Sugandha Sachdeva of Religare Commodities recommends buying gold at Rs 29,550 per 10gm with stop loss of Rs 29,300 per 10gm on downside because prices are poised to move towards Rs 29,800-29,850 per 10gm.
Sugandha Sachdeva of Religare Commodities recommends buy on MCX nickel at Rs 895-897 per kilogram. One should maintain a stop loss at Rs 882 per kilogram and a target of Rs 925 per kilogram.
Sugandha Sachdeva of Religare Commodities recommends long position in crude oil at levels close to Rs 4,970 per bbl, keeping a stop loss of Rs 4,935 per bbl with target of Rs 5,070 per bbl.
Hitesh Jain of IIFL suggests buying MCX gold at Rs 29,650 per 10gm with a target of Rs 29,850 per 10gm and a stop loss at Rs 29,550 per 10gm.