MCX GOLD FEB: Gold prices opened slightly higher in the last session and prices consolidated for the whole session in the range of 30080-30160 levels. Prices have been rising gradually since last six weeks while taking strong support at its short term rising trend line. Prices are expected to rise further from these levels towards immediate resistance placed around its recent multiple highs near 30470 level. On the lower side immediate support is placed around 29950 level. Action: Buy
MCX LEAD JAN: Lead prices opened slightly higher in the last session and prices rose gradually for the whole session after taking strong support near its 20 days simple moving average currently around 164.60 level. Prices have been moving in a sideways uptrend since last few weeks and have been taking strong support at its short term rising trend line. Prices are expected to rise further from these levels towards next strong resistance placed around its previous high of 171.10. Action: Buy
NCDEX CHANA MAR: Chana prices opened strongly higher in the last session and prices rose gradually for most of the session till high of 3869. Prices have recovered strongly in the last few sessions after breaking out from its short term declining trend line resistance and are expected to recover further from these levels towards next strong resistance placed around 23.6% Fibonacci retracement of its fall from high of 4870 till low of 3651, which is placed near 3940 level. Action: Buy
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NCDEX CASTOR MAR: Castor seed prices corrected sharply in the last session from its recent high of 4427 after taking strong resistance at 61.8% Fibonacci retracement its fall from high of 4698 till low of 3976, which is placed around 4422 level. Prices are expected to resume its primary bearish trend from these levels towards immediate support placed around its 20 days simple moving average currently near 4180 level. On the higher side immediate resistance is placed around 4350 level. Action: Sell.
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