Rudra Investment SEBI Registered | Where to Bid in the Commodity Market Today

The global commodity market is seeing all-round pressure due to recovery in the dollar. Especially crude oil has declined by about 1 percent. Crude prices have fallen below $ 61 on the NYMX. Brent is trading below 65 dollars. Gold has also slipped to one week's low level. It is trading below $ 1325. Base metal on the London Metal Exchange are also weak and are trading with all the metal deterioration including copper. However, the recovery in the dollar has increased the pressure on the rupee. In this case, the rupee has slipped to three-month low levels against the dollar. The price of one dollar has crossed 65 rupees. Karebar is being hit with a huge decline of about 0.5 percent in the rupee.

Currently, crude oil on MCX slips 0.6 percent to Rs 3,395. Natural gas is falling by 0.4 percent to 172.2 rupees. At the same time, gold on MCX is trading at Rs 30,430 with a slight decline of 0.15 percent. Silver is trading 0.6 percent down at 38,410 rupees.

Copper on MCX is trading at Rs. 455 with a huge decline of 1.25 percent. Aluminum is also trading more than 1 percent and is trading at Rs 141.2. Nickel is trading at Rs 878.4 with the weakness of 1.7 percent. The led is trading 0.8 percent down at Rs 164.15. Zinc is rolling over 1.5 percent and is trading at Rs 226.8.

Soybean at NCDEX is trading at 0.475 percent with an increase of 3775 rupees in Agri Commodity. The turmeric is about 0.5 percent rising and is trading above Rs 7,000.

Commodity Market Tips Today form Rudra Investment

Gold MCX (April futures): Buy - 30380, Stoplaus - 30240 and Target - 30600           
Silver MCX (March futures): Buy - 38350, Stoplaus - 38100 and Target - 38850     
Copper MCX (February futures): Buy - 456, stoploss - 453 and target - 462                 
Crude oil MCX (March futures): Sell - 4000, stoploss - 4045 and target - 3900       
Soybean NCDEX (March futures): Buy - 3770, Stoplaus - 3730 and Target - 3850     
Turmeric NCDEX (April futures): Buy - 6970, stoploss - 6890 and target - 7140      

           

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