MCX CHANA
Market trading range bound and is unable to take any direction - expected to trade in the band of Rs. 2270 - 2300 Intraday.
Old stock from MP has started to arrive in the market but due to quality issues market is under pressure - trading low and is unable to break the Rs. 2300 levels. Area under sowing under pulses had reduced by 20 - 30% which also might lead to lower than expected crop.Continue with Bear spread between December and January Contracts.
Sell December and Buy January
Refined Soy Oil
Price View :
Dec : SELL Dec contract at lower levels around Rs. 534.5 for the first profit target of Rs. 531.5, stop loss - 536.0
Jan : SELL Jan contract at lower levels around Rs. 543.5 for the first profit target of Rs. 540.5, stop loss - 545.0
Kapas April 2008
Kapas Futures market is likely to remain sideways to low today. Can SELL Kapas at MCX around - below Rs. 449.0 - 448.00 and likely first target is Rs 445.10 - 444.00 with a Stop Loss at Rs. 451

Trading Strategies for Gold and Silver (Intra day).

Trading Calls.

Gold seems to be bearish, Can initiate a sell position around10260 levels with a stop loss around 10300 levels with a profit target of 10200 , and next target 10160 .

Silver seems to be bearish can initiate a sell position around 18850 levels with a stop loss around 18950 levels and the profit target 18700 , next target 18600.

Crude Oil
Crude oil prices rose on news of a pipeline explosion disrupting Canadian supplies to US refiners. The prices corrected themselves lower after some part of the damage was repaired restoring supplies. Today, prices may continue to fall towards 3585 levels, therefore, can sell for the same target. Further movement would depend on any news regarding the above mentioned pipeline that is under repair.
Natural Gas
Natural gas fell yesterday as stockpiles declined less than expected. Inventories fell only 12 billion cubic feet as against an expectation of a 20 billion cubic feet decline. The bearish momentum may continue today with prices declining towards 297 levels, hence, can sell for the same target. If the sell off continues, 2nd target may be around 294.