Thursday, 7 February 2013

NCDEX Jeera is bearish, Chilli production drop by 60 percent

NCDEX JEERA TIPS, OIL UPDATES, MCX SILVER TIPS, COFFEE UPDATES, CHILLI TIPS, MCX GOLD TIPS, BASE METAL UPDATES 

MARKET UPDATES : 

Today both Precious metals MCX Silver and Gold is working in a BULLISH trend. MCX Gold is up by 52 points to Rs.30763 and MCX Silver up by 58 points to Rs.58434. Where the base metals showing simultaneous results. 

COMMODITY NEWS : 

Thursday, NCDEX Jeera is looking bearish for march delivery. Commodity price are affected due to high supply and lack of demand. At 10:49 it was trading at 13530 with a gain of 0.32 percent. Its resistance seen at 13780. 


According to International Coffee Organisation, the production of coffee all over the world expected at 144.5 mn bags. 
India, third largest producer of coffee reported fall in exports from 310000 tons in 2012 to 300000 tons in 2013. 
 

Today Oil was up in Asian Trade. Crude for March delivery gained 15 percent to 469.77 a barrel and Brent increased by 19 percent to $116.92. 

Due to Scanty rainfall the Spice dropping by 60 percent to 20000 tones. In India total production of Chilli is estimated around 12 lakh. Byadagi chilli yield ranges from 400 kg to 1.2 tones. 
 
COMMODITY CALLS : 

Buy : MCX Gold 30763 Target 30788, 30813………… 

Buy : MCX Silver 58455 Target 58535, 58615………… 

Sell : Copper 440.90 Target 430.9, 420.9………...

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