COPPER (APR) – Copper is likely to trade sideways during the morning session on Thursday, 15th March as the woes over the weak demand from China, the major industrial metal consumer might weigh on the sentiment. Copper is likely to find support at Rs. 426 per kg and Rs.423 per kg and resistance at Rs. 433 per kg and Rs. 439.6 per kg. Expected resistance and support level for today trade are as follows:
SUPPORT 1: 427.35
SUPPORT 2: 425.85
RESISTANCE 1: 431.45
RESISTANCE 2: 433.85
CRUDE OIL (MAR) – Crude oil prices are also expected to trade higher but sharp gains will be capped if the weekly inventories rise as per expectations. Expected resistance and support levels for the crude Dec contract with expiry date of 20 FEB 2012 are:
SUPPORT 1: 5255
SUPPORT 2: 5185
RESISTANCE 1: 5415
RESISTANCE 2: 5505
GOLD (APR) - MCX benchmark gold futures may start today's above Rs. 27550 levels with resistance around Rs. 27610 and Rs. 27690 levels. Yesterday, it closed lower by Rs. 389 (1.4%) at Rs. 27,443 per ten grams. Prices rose to a high of Rs. 27,801 per 10 grams and fell to a low of Rs. 27,402 per 10 grams during the day's trading.Resistance and support levels for the today’s session for Gold FEB contract which will expire on 5th APR 2012 are:
SUPPORT 1: 27325
SUPPORT 2: 27215
RESISTANCE 1: 27565
RESISTANCE 2: 27785
SILVER (MAY) – Bullish undertone in global bullion prices and plenty of buying support and gains in global equities as helping push the white metal up. Silver is Expected resistance and support levels for today trade are as follows:
SUPPORT 1: 56250
SUPPORT 2: 56145
RESISTANCE 1: 56475
RESISTANCE 2: 56595
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