MCX SILVER MARCH: As expected silver prices extended its gains and surged till the high of 38333 mark and finally ended at 38294. Going forward, we expect the price is likely to extend its gains further as the momentum indicators remain firm. The immediate resistance is at 38650 surpassed above that will propel till slanting trend line of 39000 mark. However, due continuous rise, we expect a minor correction till 38050 and these dips can be utilized for initiating long positions. Action: Buy
MCX CRUDE OIL JANUARY: On Monday, crude oil prices finally breached the key resistance of 3780 and rose till the high of 3838 marks. The price has given a clear bullish break out and now next resistance are seen at 3900 then 3990 levels. Thus, we expect crude prices will rise firmly till above mentioned levels and recommend buying on minor corrections at 3800 levels for the day. Action: Buy
NCDEX SOY OIL JANUARY: After witnessing strong supports around 710 soy oil prices reverted back during yesterday’s session and ended almost near the day’s high of 723.50. On the immediate basis the trend line resistance is at 725 surpassed above that will once again pull up the prices till the previous highs of 748 levels. Thus, we advise buying above 725 for targets of 735 the 740 for the day. Action: Buy
NCDEX RM SEED JANAUARY: On Monday, RM seed prices remained sideways to bearish and ended on a flat note at 4007. The price is still moving along with the trend line and the immediate support of the same is at 3950. The trend is still looking upward and we expect the prices will head till 4065 then 4140 levels in the coming sessions and thus we recommend buying around 3980 for targets of 4065 and higher for the day. Action: Buy
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