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Commodity outlook: Zinc good points; right here’s how others would possibly possibly possibly fare


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Commodity outlook: Zinc good points; right here’s how others would possibly possibly possibly fare

NEW DELHI: Barring zinc, all metallic, bullion and vitality counters had been procuring and selling with losses on Friday as US lawmakers blocked stimulus bill and unemployment remained pretty high. Gold changed into down 0.86 per cent while silver dipped 1.61 per cent. In the base metallic block, barring zinc, all counters fell with nickel…

NEW DELHI: Barring zinc, all metallic, bullion and vitality counters had been procuring and selling with losses on Friday as US lawmakers blocked stimulus bill and unemployment remained pretty high.

Gold changed into down 0.86 per cent while silver dipped 1.61 per cent. In the base metallic block, barring zinc, all counters fell with nickel slumping essentially the most at 0.69 per cent. Horrible oil changed into down 1.08 per cent and its perceive natural gasoline down 1.90 per cent.

Traders can accumulate gold at Rs 51,000 with pause loss at Rs 50,500 for the target of Rs 51,800. They would possibly possibly possibly moreover accumulate Silver at Rs 67,000, with the pause loss of Rs 65,800 and for the target of Rs 69,000. In the bullion index “Bulldex” traders can accumulate at 16,000 with the pause loss at 15,850 and for the target of 16,200,” stated Anuj Gupta , DVP- Commodities and Currencies Learn, Angel Broking.

NCDEX Agridex, an agricultural futures index that tracks the efficiency of the ten liquid commodities, changed into up 0.50 per cent or 5.65 points at 1,132.35 led by good points in chana and soy bean.

Right here is how SMC World expects commodities to fare this day:

Bullion: Bullion counters would possibly possibly possibly post correction and trade with bearish bias where gold would possibly possibly possibly test Rs 50,200 and going thru resistance shut to Rs 51,800 while silver would possibly possibly possibly test Rs 66,890 and going thru resistance shut to Rs 69,200.

Unfavorable metals: Unfavorable metals would possibly possibly possibly trade sideways with a bearish bias. Copper can transfer in direction of Rs 513 and face resistance shut to Rs 523. Zinc would possibly possibly possibly transfer in direction of Rs 185 and face resistance shut to Rs 189. Lead can transfer in direction of Rs 144 while going thru resistance shut to Rs 148. Nickel trade bearish bias where it would possibly possibly possibly settle on enhance shut to Rs 1,075 and resistance shut to Rs 1,106. Aluminum would possibly possibly possibly transfer in direction of Rs 150 while taking enhance shut to Rs 146.

Energy: Horrible oil would possibly possibly possibly trade sideways with a bearish bias where it would possibly possibly possibly settle on enhance shut to Rs 2,640 and resistance is seen shut to Rs 2,850. Natural gasoline would possibly possibly possibly yet yet again concept selling stress where resistance is seen shut to Rs 178 and enhance shut to Rs 165.

Spices: Turmeric futures (October) would possibly possibly possibly peep some quick preserving till Rs 6,100-6,150. Jeera futures (October) is expected to consolidate in the fluctuate of Rs 13,800-14,000. Dhaniya futures (October) is expected to trade sideways in the fluctuate of Rs 6,700-6,800.

Oilseeds: Soybean futures (October) is expected to trade sideways in the fluctuate of Rs 3,850-3,900. Mustard futures (October) is expected to trade sideways in the fluctuate of Rs 5,320-5,380. Soy oil futures (Oct) would possibly possibly possibly trade sideways in the fluctuate of Rs 882-892, while CPO (Sept) is expected to trade on a cautious relate in the fluctuate of Rs 761-768.

Diverse commodities: Cotton futures (Oct) would possibly possibly possibly concept trade sideways in the fluctuate of Rs 17,600-17,750. Chana futures (October) is expected to concept a long bull speed in direction of Rs 5,150-5,200. Guar seed futures (Oct) would possibly possibly possibly concept an upside momentum in direction of Rs 4,050-4,100, while guar gum futures (Oct) would possibly possibly possibly trade greater and test Rs 6,250-6,300.

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