MCX TIPS, GOLD AND SILVER TREND, NATURAL GAS UPDATE, CRUDE OIL TIPS, ZINC TIPS.
Yesterday, the MCX market closed with a bearish note. The precious metal as well as base metal was traded quit bad. Yesterday, due to deppreciation in the rupee caused fell in MCX Silver price. It also cause sharp fall in copper.
Cotton was traded very well it gained 70 points at 16370.00. Currently global cotton inventory is at multidecade high, estimated ratio at 71%.
As the availability of natural gas may not increase near to mid term then fertilizer companies increase rely to meet their requirement.
With the announcement of New Investment Policy, the gas requirement for the urea projects may be around 21-27 mmscmd.
Palm oil price have fallen by 25-28% globally.
Crude oil was down by 1%, it’s Feb contract dropped from 5212 to 5132 level.
Buy and Sell Calls :
Buy MCX Zinc TG 112.75, 114.25
Sell Gold at 30448.00 TG 30418