MCX Commodity Evening Calls-7 February 2011

MCX Gold - Apr'11  Buy at 20165-20175 TP 20245 SL 20120

MCX Silver - Mar'11 Buy at 44400-450 TP 44760 SL 44280

MCX Natural Gas - Feb'11  Sell at 197 TP 193 SL 199.50

MCX Aluminium - Feb'11  Buy at 115.70 TP 117 SL 115

MCX Copper - Feb'11 Buy at 464 TP 468 SL 462

MCX Lead - Feb'11 Buy at 118.20 TP 119.20/120 SL 117.30

MCX Nickel - Buy at 1302 TP 1306 SL 1295

MCX Crude Oil Feb 11'-Buy at 4070 TP 4100/120 SL 4045

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Commodity Trading Tips For Today

Crude Oil : Buy - 4175, SL - 4160 and target - 4200

Lead (January Futures): Buy - 122.50, SL - 122 and Target - 123.50

Gold : Sell - 20350-20375, SL - 20 410 and the target - 20 275

Silver : Sell - 44100-44200, SL - 44 400 and the target - 43 920

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MCX Gold Commodity - Outlook and Trading Recommendations

Gold futures fell for the first time in seven sessions as the dollar halted its slide and thereby, reducing gold’s alternative investment demand. The greenback rose asmuch as 0.42% against a basket of six major currencies after reports showed that Chicago purchasing managers’ survey was higher than forecast and U.S. jobless claims unexpectedly fell. U.S. also raised its estimates of second quarter GDP growth and personal consumption growth.

The market remains strong and every dip will be met with buying. Though gold seems to be overbought at this point, but the market is having a hard time selling off this precious metal. Overall market sentiments also look positive as Asian stocks and other metals climbed on positive Chinese manufacturing data. Japan’s deflation moderated and the unemployment rate fell. We may see gold remaining firm in international markets while the same may see limited upside in India due to stronger rupee.

INTRADAY COMMODITY TIPS

COMEX Gold December Futures: Recommendation

Buy at 1307-1309 TP 1317, 1322 SL 1297

MCX Gold December Futures: Recommendation

Buy above 19260 TP 19330 SL 19220

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