Today base metal are open on green side, all top metal are showing good movement with a green flag. MCX copper for April delivery on early morning open at 408.25 and experienced to trade with a good support level, on MCX copper touches an intraday high 409.60 with a low of 407.20. MCX nickel also supports this movement with a green flag. Nickel for April delivery trading on good side on Monday morning it open at 881.60 with an intraday high of 888 and low of 878.20. Due to global issue between US and North Korea some positive change has done in base metal on Asian market. Aluminum, nickel and zinc are trading low but on green side, some positive change is expected near 6 pm on metals.
Buy copper above 408 tgt 408.50, 409.50, 411………..sl 405
Buy nickel above 887 tgt 888, 890, 892………sl 882
Global crude market is varying due to US job data, on US crude up by 60 cents at $93.30. whereas on MCX India crude oil for April delivery open at +3 high to its last close and open at 5110. Crude oil for April delivery is experienced low movement with high open interest but due to low demand on overseas market it falls from its position. On intraday market it touches a low of 5088.
Mentha oil and cotton
Both are traded on red side at 3:00 pm, today cotton is showing a high movement on both sides. On early trade it touch a high 18990 but suddenly a direction had changed due to negative open interest. Cotton demands are increase day by day and very high movement had seen I cotton this year. Today MCX cotton for April open at 18860 with a low of 18670, some positive report are comes from cotton and expected to trade on green side at evening session.
Mentha oil supports a low movement on intraday trade. On Monday, morning it open at 1040 and going up and touches a high of 1047 whereas on downside it touches a low of 1025. Mentha oil is troubling and experienced a bearish trend on MCX for today.
Today MCX calls
Buy silver above 51350 tgt 51450, 51500, 51600……..51100
Sell gold below 29610 tgt 29580, 29550, 29510……….sl 29710
Buy cotton above 18800 tgt 18820, 18850, 18880…………….sl 18720