Sunday, 9 September 2012

Sell MCX Gold Oct around Rs 31350

Geojit Comtrade has come out with its technical report on Gold, Silver, Crude, Natural Gas, Copper, Nickel, Lead, Zinc and Aluminium. According to the research firm, one can sell MCX Gold October around Rs 31350 levels with a stop loss placed above Rs 31500 levels for a target of Rs 31170.

Technical Updates:

MCX Gold October : Sell around 31350 levels with a stop loss placed above 31500 levels for targets of 31170 levels.

MCX Silver December : Sell around 61750 levels with a stop loss placed above 62100 levels for targets of 60900 levels.

MCX Crude September : Buy around 5300 levels with a stop loss placed below 5270 levels for targets of 5350 levels.

MCX Natural Gas September : Sell below 154 levels with a stop loss placed above 157 levels for targets of 149 levels.

MCX Copper November : Buy around 436 levels with a stop loss placed below 433 levels for targets of 442 levels.

MCX Nickel September : Buy around 902 levels with a stop loss placed below 895 levels for targets of 918 levels.

MCX Lead September : Buy around 113 levels with a stop loss placed below 112 levels for targets of 114.70 levels.

MCX Zinc September : Buy around 105.50 levels with a stop loss placed below 104.50 levels for targets of 106.80 levels.

MCX Aluminium September : Buy around 109 levels with a stop loss placed below 108 levels for targets of 110.50 levels.

Buy MCX Gold Oct around Rs 31600-31650; SL Rs 31380

Angel Commodities has come out with its weekly outlook on Gold, Silver. According to the research firm, one can buy MCX Gold October between Rs 31650-31600 with a stop-loss of Rs 31380, for a target of Rs 32200.

MCX GOLD OCTOBER (CMP 31,896 / $ 1735.40)

MCX Gold October as seen in the weekly chart above has opened at 31,311 initially moved lower, but found very good support at 31,186 levels. Later prices rallied sharply breaking both the resistances towards 32,004 levels and finally closed sharply higher from the previous weeks closing levels.

For the next week we expect gold prices to find Support at 31,700 31,640 levels and further below strong support is seen at 31,400-31,340 levels. Trading consistently below 31,320 levels would trigger sharp correction initially towards 30,955 then 30,881 and then finally towards the major support at 30,625 levels.

Resistance is observed in the range of 32,220-32,250 levels. Trading consistently above 32,260 levels would lead towards the strong resistance at 32,490-32,520 levels, and then finally towards the Major resistance at 33,024 levels.

MCX / Spot Gold Trading levels for the week (10.09.2012 to 14.09.2012)

Trend: Up
S1-31,700 / $ 1720 R1-32,220 / $ 1756
S2-31,400 / $ 1699 R2-32,520 / $ 1777

Recommendation: Buy MCX Gold October between 31,650-31,600, SL-31,380, Target -32,200

OR

Sell MCX Gold October between 32,500-32,520, SL-32,850, Target -31,700

MCX SILVER DECEMBER (CMP 63,890 / $ 33.65)

MCX Silver December as seen in the weekly chart above has opened at 61,061 levels initially moved lower, but found support at 60,712 levels. Later prices rallied sharply breaking both the resistances towards 64,170 levels, and finally closed sharply higher from the previous weeks closing levels.

For the next week we expect Silver prices to find support in the range of 63,000-62,900 levels and then strong support is seen at 61,800-61,700 levels. Trading consistently below 61,700 levels would trigger correction initially towards 60,940 levels and then finally towards the major support at 59,500 levels.

Resistance is now observed in the range of 65,200-65,250 levels and then strong resistance is seen at 66,400-66,600 levels. Multiple closing above 66,600 levels would further extend the current rally initially towards 70,000 levels and then finally towards the major Resistance at 71,034 levels.

MCX / Spot Silver Trading levels for the week (10.09.12 to 14.09.12)

Trend: Up
S1-62,970 / $ 32.95 R1-65,200 / $ 34.40
S2-61,700 / $ 32.18 R2-66,400 / $ 35.18

Recommendation: Buy MCX Silver December between 63,000-62,900, SL-61,600, Target -65,200/66,400.
OR

Sell MCX Silver December between 66,400-66,500, SL-67,501, Target -63,450.

Wednesday, 5 September 2012

MCX launches membership drive, to target smaller cities

Gearing up to start a full-fledged stock exchange, MCX-SX today launched a membership drive to sign-up entities to trade on its platform, while offering competitive rates to take on its rivals NSE and BSE.

MCX-SX (MCX Stock Exchange) said that it would follow a "integrated India model" for its operations, under which it would have special focus on smaller cities to help create an equity culture across the country.

MCX-SX is currently present only in currency derivatives segment, with about 750 members.
It recently got market regulator Sebi's nod to deal in stocks, equity futures and options, interest rate derivatives and wholesale debt markets.

BSE has listed out a total of 1,083 members on its website, while NSE has more than 1,400 members.
Under an introductory offer valid till October 18, MCX-SX would provide entry-level membership at Rs 25 lakh (Rs 5 lakh of membership fee and Rs 20 lakh deposits).

While NSE has new membership fee of Rs 5 lakh, the same at BSE is Rs 2.5 lakh. NSE and BSE seek deposits worth up to Rs 1.25 crore and Rs 30 lakh respectively from their members.

Besides, the members at MCX-SX would have to maintain a networth of Rs 30 lakh, which is similar at BSE but higher at a minimum of Rs 1 crore at NSE.

Experts say that the market might see some course-correction in the membership charges, given the competitive price offered by MCX-SX, although charges have already come down at the BSE in the past couple of years.

The membership cost structure of an exchange typically includes membership fee, deposits and members' networth.

MCX-SX would seek to attract people from smaller cities through its competitive cost-structure.
Currently, the market participation and liquidity is limited to less than 2% of the population and is heavily dominated by top metro cities.

MCX-SX said that its introductory entry-level membership offer of Rs 25 lakh, which includes a rebate given against transaction charge during the offer, would rise to Rs 50 lakh after October 18.
It is designed to bring in cost optimisation as it frees up huge capital for members and brokers that would otherwise be blocked in exchanges, it said.

Brokers and members would be be able to utilise this fund towards client acquisition, training of staff and business expansion, MCX-SX said, while announcing two new categories of memberships for Indian markets -- professionally qualified members and rural entrepreneur members.

Besides, MCX-SX would have a third category of composite members for all eligible entities.

Commenting on the membership drive, MCX-SX Managing Director and CEO Joseph Massey said, "We have implemented an integrated India model, which will foster balanced participation from foreign institutional investors, domestic financial institutions and new members from Tier II and Tier III centres. Our aim is to drive financial inclusion by optimising the cost structure of membership and innovating two unique categories for MCX-SX membership."

The exchange would offer membership in categories of Trading Member, Self Clearing Member, Trading-cum-Clearing Member and Professional Clearing Member (PCM.)

MCX-SX membership to cost 15-80% less

MCX Stock Exchange (MCX-SX), which recently received regulatory approval to function as a full-fledged national exchange, has come out with an aggressively priced membership cost structure to attract new brokers.

Its limited-period membership offer, announced on Wednesday, is 15-80% cheaper than those offered by rivals BSE and the National Stock Exchange (NSE).

The offer, which runs till October 18, would involve net outlay (including admission fees and deposit) of Rs25 lakh for entry-level membership to cash and the futures and options (F&O) segments.
MCX trading tips has kept the admission fees at Rs5 lakh, the same as that at NSE.

However, its deposit requirement is just Rs10 lakh for each of the segments. The deposit requirement at NSE is Rs125 lakh and Rs25 lakh for the cash and F&O segments, respectively, while for BSE, the total deposit requirement including base minimum capital and trade guarantee fund is close to Rs30 lakh.
Experts see the move meeting its objective.

“The cost structure is in line with the current trend and should help it attract leading brokerages and build up volumes once it starts equity segment trading,” said Sudip Bandyopadhyay, MD and CEO, Destimoney Securities.

Jagannadham Thunuguntla, strategist & head of research at SMC Global Securities, said the offer was expected, after all the efforts that have gone into obtaining the equity segment licence. “MCX, being a promoter-driven entity, has more aggression and hunger to gain market presence. It has considerable base in the form of commodity trading members who may enroll in equities segment as well,” he said.
And it isn’t the cost structure alone that MCX-SX is using to attract members.

It has kept the networth requirement for members at Rs30 lakh, which is in line with what BSE stipulates for its members, but is less than the Rs75-100 lakh required by NSE.

The exchange has also introduced two special category of memberships --- professionally qualified member and rural entrepreneur member --- in order to increase its reach and attract brokers in rural and smaller districts with no capital market penetration.

The exchange would offer 10% discount on application fees to professionally qualified members and 20% discount to rural entrepreneurs starting broking business in 5,300-odd smaller subdistricts and talukas where there is no capital market penetration.

MCX-SX, in its press release, said the cost optimisation will free up huge capital for members and brokers that would otherwise be blocked in exchanges. “Brokers and members will now be able to utilise this fund towards client acquisition, training of staff and business expansion,” it said.

Thursday, 21 June 2012

MCX Gold Updates, Tips and Trend Today

MCX Gold Updates
In previous post we have discussed that mcx gold is trading in a range bond of 29800-30400. In its yesterday's trading it has shut stop at 30282 up by 0.23%. Current gold updates says that in international market spot gold has hit a intraday low of $ 1609 yesterday, that may make a selling presure in domestic market also.

MCX Gold Trend
MCX Gold is looking volatile in its last 3-4 trading session becouse of ending of current contract. The traders have a pressure to sell gold in MCX. Another fector is the global issue. MCX Tips Gold trend is consolidate now and moving towards positive. Although it has a strong support at 30000 and a good resistance at 30500. Current Gold trend is suggest a new range bond of 30000-30500 for itself.

MCX Gold Tips
We provide free tips in MCX Gold adn silver for a week. Please fill the free trail form to get free tips. 

Tuesday, 12 June 2012

MCX Commodity Tips and Updates For Today

MCX Gold

Prices scaled to new life high in a strong rally, after they broke-out from a consolidation range above 29,450. We have always maintained our bullish view on the metal & we could see more upside in the short-term. Prices now holds strong supports at 29400-29450 (Previous Resistance) and the long-term SMA’s i.e. 28790 (50-day SMA), 28470 (100-day SMA) and last at 28200 (200-day SMA).

MCX Silver 

Silver has breached crucial Resistance at 55150 Trend is expected to turn Positive & can Test levels of 57500 & 60000 (in short-term) and could move towards 65000 (in long-term). (Support/ Stop for Reversal holds below 52800). Advised to Accumulate on dips.

MCX Copper 

Holds strong resistance at 411.5-412 (200-day SMA)… next only at 426.5 (100-day SMA) and 427.5 (50-day SMA). Prices below 407 (on closing basis), can Test levels of 380 & 350. copper MCX Tips June contract at dips close to Rs 408 per kilogram and dips further to Rs 406 per kilogram looking for a target of Rs 413 per kilogram and beyond that to Rs 414 per kilogram with a stop loss of Rs 402 per kilogram.

Free Commodity Tips For Today
  • MCX Gold August : Buy around 30000 levels with a stop loss placed below 29900 levels for targets of 30200 levels.
  • MCX Silver July : Buy around 54700 levels with a stop loss placed below 54400 levels for targets of 55100 levels.
  • MCX Crude June : Buy around 4710 levels with a stop loss placed below 4660 levels for targets of 4850 levels.
  • MCX Natural Gas June : Sell below 135 levels with a stop loss placed above 139 levels for targets of 129 levels.
  • MCX Copper June : Buy around 409 levels with a stop loss placed below 405 levels for targets of 414 levels.
  • MCX Nickel June : Buy around 890 levels with a stop loss placed below 875 levels for targets of 920 levels.
  • MCX Lead June : Buy around 106 levels with a stop loss placed below 105 levels for targets of 108 levels.
  • MCX Zinc June : Buy above 105 levels with a stop loss placed below 104 levels for targets of 106.50 levels.
Source  http://commodity-intraday.blogspot.in/2012/06/mcx-commodity-tips-and-updates-for.html

Thursday, 7 June 2012

MCX Free Tips - PROFIT BOARD

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