RESEARCH VIA ~ TODAY'S MCX COMMODITY TIPS 26.Nov.2013

Precious Metals

D A I L Y

B U Z Z

Appreciation of Indian Rupee (INR) was seen pressuring the commodity movement to certain extent in the domestic market. INR was seen touching 62.46 against US Dollar, an appreciation of 0.06% as of 15.41 IST on Monday. MCX gold for December delivery was seen trading with a loss of 0.43% at Rs.29712 per 10 grams as of 15.27 IST on Monday.

The trend in gold futures for December delivery on India's Multi Commodity Exchange (MCX) looks sideways to bearish for the day and intra-day traders are advised to sell on rise.

Intra-day, support for the commodity is seen at 29500 and below that it may test level of 29350 while resistance is seen at 29850 and 30000 levels, according to Amrita Mashar, Research Analyst at Commodity Online.

Intra-day traders may take sell position near 29750 with the stop loss of 29850 for the target near 29600 and 29500, she said.

MCX gold for December delivery was seen trading with a loss of 0.43% at Rs.29712 per 10 grams as of 15.27 IST on Monday.

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