Thursday, May 30, 2013

Indian Rupees touch 11 month low affecting domestic commodity and share market | Live trading tips




Rupees continue its negative session on Friday too and touch and 11 month new low. The Indian currency trading at 56.47 its last close is 56.38.  Increment in US dollar demand force the rupees to trade under pressure in this week.

Week rupees affect the Indian share market while commodity prices are fluctuating in domestic market. In today commodity trade gold open at bright side but due to negative open interest gold price comes near to negative side and expected to trade with a red flag. At MCX gold for June delivery open at 27176 and look more a mixed reaction on Friday session.
Same trend are being watched in white metal , today for July delivery it open at negative side 44377 against it last close 44421. After opening with negative flag silver price touched an intraday high of 44660, in today trade silver is look more volatile with support of bullish.

 In base metal copper and nickel are trying to recover in domestic MCX market, MCX copper are trading under pressure with a green side meanwhile negative trend push it back.  Today MCX copper for June delivery open at   414.70 and on green side touched a high of 416.10 with an intraday low of 413.70.
  Nickel for June delivery trading high and moves on with a small correction at MCX, currently nickel are 842.50 at 12:16 pm and expected more increment in remaining session.


Buy nickel above 842.50 tgt 844,847, 850…………….sl  834

Sell crude oil below 5300 tgt 5290, 5280, 5270………….sl 5330



13 comments:

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This affects more in commodity as well in cash market as whole the investment and the value,also the output is to be regularly affected.Thanks
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