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
10:22 PM
Analyst
MCX Crude oil Sell June Future below 5400 targets 5385, 5370 Stop Loss 5430.
