MCX GOLD DECEMBER: Gold prices once again retested the trend line support of 29276 and recovered slightly and ended at 29380. Looking at the chart the prices are likely to rebound from these levels towards the immediate resistance of 29700 and higher. So, we recommend buying around 28320 for upside targets of 29600 then 29700 levels. Action: Buy
MCX NICKEL NOVEMBER: As expected, nickel prices inched further during yesterday’s session and ended at 766 mark. Going forward, the nickel prices are likely to rise till the immediate resistance of 800. While the immediate support is at 735 then 725 levels. Thus, we continue to advise buying on dips around 758 for given targets. Action: Buy
NCDEX GUAR GUM DECEMBER: As expected, guar gum prices inched higher during yesterday’s session and ended at 8350 mark. Following the inverse Head and shoulder pattern the prices likely extended till the immediate resistance of 8500 surpass above that will provide fresh bullish break out. Therefore, we continue to recommend buying for the targets of 8500 then 8850 levels. Action: Buy
NCDEX TURMERIC DECEMBER: After four sessions of continues rise, turmeric prices tested the trend channel resistance on Tuesday and turned lower and settled at 7158. The immediate support is at 7100 mark break below that will once again slip the prices till 6700 level. Thus, we recommend selling on break of 7100 for targets of 6900 then 6700. Action: Sell
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