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S/No.	Commodity	R3	R2	R1	S1	S2	S3
1.	Gold	27833	27820	27805	27775	27760	27754
2.	Silver	53310	53248	53186	53031	52938	52879
3.	Crude	5315	5305	5295	5280	5275	5265
4.	Copper	408.75	408.00	407.35	406.25	405.85	405.15
5.	Zinc	98.40	98.35	98.30	98.15	98.05	98

Ncdex Expert intraday Tips

S/No.	Commodity	R3	R2	R1	S1	S2	S3
1.	Gold	28159	28057	27956	27703	27551	27450
2.	Silver	54555	54195	53835	52855	52235	51875
3.	Crude	5328	5270	5213	5055	4954	4897
4.	Copper	407.5	403.8	400.2	391.1	385.6	381.9
5.	Zinc	100.9	100.2	99.49	98.04	97.32	96.6

Best Gold Tips

GOLD: (Feb 2012)

major resistance for safe playing for bull, 29400 and think to buy side, downside it must hold 28300. It was unable to hold major weakness, and finally made a low of 27000-27400, It shows weakness to continue. Now in current week, we may consider resistance at 27800-28000-28300, downside support to watch out at 27000, decisively break with volume likely, nonstop target of 25800-25000 in a few sessions. Higher level, be cautious of any buy side. Sell on rise strategy. Best Buy option for gold this week is - buying above 27500.

NCDEX Mentha Oil Trends

1. Low trading activities, amidst moderate arrivals and a fall in export demand kept pressure on the rates for Mentha Oil.
2. Withdrawal of additional margins on Buy/Sell side of 5% and removal of special margin on buy side of 10% supported the market sentiments for Mentha Oil.
3. Markets could find support at these levels from an expected rise in export and domestic demand in the coming weeks.
4. Medium term Fundamentals remained moderately firm for the commodity as good pharmaceutical Industry winter season demand and further rise in export demand are expected but short term trend likely to remain volatile.
5. Reports of a fall in production had been keeping the sentiments firm. Lower arrivals and rising export demand and domestic demand from the Pharmaceutical Industries have been there. Exports to China reportedly on the rise.

Free NCDEX Tips

Best NCDEX Pick: Soy Oil
Recommendation: Traders are recommended to Buy Soy Oil at the CMP of Rs. 630 for a target of Rs. 670 with a stop loss below Rs. 609

1. The setup of Soy oil looks quite bullish both on the daily as well as the weekly charts.


2. Based on Elliott wave’s perspective it seems to have completed its wave X in a Regular flat pattern and now it is expected zoom up in its wave Z.


3. It posted a monthly positive close which also confirms the same. The rise since the recent lows 593.50 is wave 1/A then it consolidated in its wave 2/B which was a symmetrical triangle and now wave 3/C up has ensued which has a minimum equality target of 670 on the upside.


4. The weekly MACD which is still in sell mode, however it has reached the zero reference line from where it is expected to reverse from. The daily MACD continues to be in buy mode showing positive divergence which favors bulls only.


5. With the breakout from the triangular pattern it has also crossed it crucial hurdle i.e. 40 WEMA as it had come below it for the first time since the breakout on July 2010. This too increases the probability of winning for the bulls from here on.


6. The risk reward ratio is well supporting the bulls as the minimum target is 670 and the stop loss/ reversal is below 609.

Free Gold Silver Tips For Today

GOLD: (Feb 2012)

Gold February as seen in the weekly chart, found resistance at 29433, fell sharply lower towards 29000, and finally closed lower.

Support is now observed at 28980. One can buy around the level and if it cannot maintain levels, further below strong support is seen at 28470. Trading consistently below 28500 could trigger a sharp correction initially towards 28250-28150.

Trend Decider of this week: 29159

Today: Sell-on-rise... Below 29000, downside target of 28300.

 

SILVER (March 2012)

Silver March as seen in the weekly chart, found resistance at 58000, then fell sharply lower towards 56000, and closed at 57000.

Support is now observed at 56200-56000. Trading below 56000 would give correction initially towards 55650, and then finally towards 55500.

Trend Decider of this week: 56813

Today: Sell-on-rise strategy... As long as below 58500, bear favor.

Support for NCDEX Chana Jan at Rs 3110 - 3120

At NCDEX, Traders attribute the exchanges action to the high volatile in volume. In case of chana, Total contract in Jan 2012 jumps to 480 crore on 30th of November from a low of Rs 364 crore in comparison of previous day. On Nov 14, total turnover in this contract was recorded at Rs. 125 crore.

Naveen Mathur, Associate Director of Angel Broking said that the special margin of 10 percent in Chana was imposed on Sep 30 to control excessive volatility.

Chana prices rose 68 percent from the lows of Rs 2,198 a quintal since middle of April due to seasonality pattern and touched a high of Rs. 3700 per quintal on Sep 26. Current price of Chana is at Rs. 3137/quintal. The NCDEX January contract is getting support near Rs. 3110-3120 while resistance is seen near Rs. 3340-3350.

Sugar Futures goes on higher stocks.

Sugar prices hits upper circuit in future trading on commodity exchange in comparison to its previous 11 months. All sugar contracts reported more than three percent hike in national commodity exchange National Commodity and Derivatives Exchange(NCDEX). Total turnover around this year is 200 percent. Indian sugar prices are expected to gain further by Rs.160 - Rs.170 a quintal from the current decision level.

In Indian markets, Sugar Prices are expected to trade in the range of Rs. 2,900- Rs.3,200 a quintal in this month. Total Sugar output is estimated to remain at 26 million tonnes this year against consumption of 22 mt. With around 5 mt of carryover to stock, the market is expected to remain in heavy oversupply this year.

Soy Oil Declines on Fresh Selling

NCDEX News: Refined Soy oil futures fell Thursday on fresh selling by the traders on rising supply in the markets. At NCDEX, soya oil December contract closed at Rs.628 / 10 MT, which is lower by 1.04 in comparison of previous close.

In the beginning, the contract traded at a variable range of Rs.638.40 to 627.80 / MT. As in India, oil availability is better; other oilseeds crops are also fulfilling the demand in market. Some of the major oil improving the availability in Indian markets like namely rice bran oils, cotton oil seeds etc.

Total import of edible oil during current session is declined by 5.12 % as compared to last year. On monthly basis also imports marginally declined.