Contact Us | Log In
Search
Sensex: Gold: Rs.29630.00
Nifty: 10817 +28.50 Silver: Rs.38972.00
MCX Gold Feb: Prices are expected to rise further; Buy - IndiaNotes.com
MCX Gold Feb: Prices are expected to rise further; Buy
Way2wealth | Published: 11 Jan, 2018  | Source : IndiaNotes.com

MCX GOLD FEB: Gold prices rose strongly in the last session and made a high of 29430. Prices have taken strong support at its short term rising trend line after breaking out from its declining trend line resistance in the previous week. Prices are expected to rise further from these levels towards immediate resistance placed around 61.8% Fibonacci retracement of its fall from high of 30474 till low of 28055, which is placed around 29550 level. On the lower side immediate supports are placed around 29250 and 29050 levels. Action: Buy

 

MCX CRUDE OIL JAN: Crude oil prices have been rising strongly since last few weeks after taking strong support at its short term rising trend line of its rising trend channel pattern. Prices are expected to rise further from these levels towards immediate resistance placed around its upper rising trend line of the channel currently placed near 4110 levels. On the lower side immediate supports are placed around 4005 and 3950 levels. Action: Buy


NCDEX GUARSEED FEB: Guar seed prices rallied further in the last session and made a fresh 2 years high of 4463. Prices have been rallying strongly since last few weeks and touched its medium term rising trend line resistance in the previous session. Prices have taken strong resistance at this trend line for multiple times in the past and corrected sharply after that. Prices are expected to hold this resistance and correct from these levels towards immediate supports placed around 4350 and 4290 levels. Action: Sell


NCDEX SOYBEAN FEB: Soybean prices rose strongly in the last session till high of 3304 and closed around 3284. Prices have been rallying after taking strong support at its short term rising trend line and around its 20 days simple moving average currently at 3141 level. Prices are expected to rise further from these levels towards immediate resistance placed around its previous high of 3327. On the lower side immediate supports are placed around 3270 and 3230 levels. Action: Buy

 

  Read full report Click here to read the full report


About Way2wealth

Way2Wealth today has established itself as one of India’s ‘Premier Investments Consultancy Firms’, known for making investing simpler, more understandable and profitable for the investors. They offer a wide range of products & services viz: Equity, Derivatives, Currency Futures, Commodities Trading, IPO's, Mutual Funds, Portfolio Management Services & Depository Services.

 

For more information please write in to editor@indianotes.com

Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.