Impact of Budget 2016 on Commodity Market Players

A lot of changes and reforms were expected in Commodities which ranged from amendment of the FCRA bill to allow foreign institutions and domestic fund hours to trade in domestic futures, reduction in import duties for precious metals and more importantly, a reduction in CTT was also something we looked forward to

Arun Jaitley in Budget 2016-17 announced that SEBI will develop new products for commodity derivatives. However, apart from this, the Budget failed to offer cheer for commodity markets.

 What was expected?

Reduction in CTT for Commodities
Reduction in Import Duties for Bullions
Amendment of FCRA

NCDX Chana Live Market Update Today : 26 Feb

NCDEX Chana April Opened at 4174 today, percentage change is 31. 

NCDEX Chana April, A stiff support is seen at 4133 , and any trades above the same could see pullbacks to 4200 / 4230 or even higher to 4260 levels . However, major weakness is seen below 4100 levels. 

Support: 

4133 

4105 

4080 

Turnaround levels: 

4105-4410 

Resistance: 

4200 

4230 

4260

>>>>>Commodity Best Tips 

GOLD and SILVER Begin with the fall | MCX Live Calls

Pressure on gold and silver prices in the global market is being witnessed. Gold and silver in the domestic market are open in the red sign today. 

MCX gold April contract declined by Rs 111 to Rs 29,443 / 10 grams, MCX silver declined by Rs 103 to trade at Rs 37,140. Gold prices on the Nymex on Wednesday saw a gain of $ 20. 

Asian markets continue to profit from the weakness in crude prices. Domestic crude March contract declined by Rs 13 and trading at Rs 2,207/barrel. Basemetals volatility being witnessed today. 

MCX Copper February contract fell by Rs 0.20 & trading at Rs 317.90/kg, lead by Rs 0.45 to Rs 117.80/kg , nickel February contract fell by Rs 4.60, trading at 587.40/kg. 

MCX Live Calls:  

SELL LEAD BELOW 117.50 SL ABV 119 TGT 116.40-115.20.

23 Feb : Fast onset of gold and silver, crude dearly | Commodity Tips

Weakness in the dollar index and the decline in global equity markets has been witnessed bullish trend in gold. April futures on the Multi Commodity Exchange, MCX Gold rose by Rs 232 to Rs 29,198 / 10 grams, silver rose by Rs 211 March futures at Rs 37,192 / kg. 

MCX Gold on the Nymex gained $ 10 to $ 1,220 / oz and silver trading at $ 0.10 with a gain of 15.29. 

NCDEX crude prices in international markets is putting pressure on the domestic market. MCX crude March contract declined by Rs 52 to Rs 2,277 / barrel. Nymex crude fell $0.45 is trading at $32.94 barrel. The Indian crude oil basket price rose by 19 cents to $ 31.26 / barrel. 

Commodity Tips Today : 

BUY CRUDEOIL ABOVE 2303, TGT1: 2367.72, TGT2: 2392.6, TGT3: 2472.6, SL: 2263 

Gold and Silver started today with fall | MCX NCDEX Tips

International markets are getting weak in the domestic market, the introduction of gold and silver, the pressure is being witnessed. MCX gold futures April contract declined by Rs 387 to Rs 29 128/10 grams, silver declined by Rs 37,055 to Rs 462 in March contracts / kg. On the Nymex, gold fell by $ 13 to $ 1218 / ounce and silver fell $ 0.13 trading at $ 15.24 / ounce.

Where as rally in crude oil in the international market has begun once again. The domestic market is also getting the benefit by this. MCX crude March contract rose by Rs33 to Rs 2,235 / barrel and Nymex crude rose by 0.54 dollars to $ 32.29 / barrel. 

Basemetals - in strong position in the domestic market is being witnessed. MCX Copper February Contact 2:55 Rs 318.65 with a gain / kg , lead February contract spurted 119.80 Rs 0.55 / kg , nickel February contract rose by Rs 3.90, 588.30 / kg remains. 

MCX Gold is up by Rs.100; MCX Live Calls Today

Due to lower demand in the bullion market, gold prices have declined to Rs 100. In Delhi, gold fell by Rs 100 on Thursday dropped to 28,750 per ten gram. 

Silver prices steady Delhi Bullion Market, silver prices have remained unchanged. 

On Thursday, the price of silver remains at 37,100 per kilogram. Earlier on Wednesday, the Delhi bullion market, silver prices was 37,100 . 

In global markets , gold fell 0.21 per: 

With the domestic market in global gold prices have declined. In London, gold prices recorded with declined of 0.21 percent. Gold prices fell by 0.21 percent, to $ 1.205.90 per ounce. 

In global markets, silver has declined 0.39 percent. After the fall of 0.39 per cent, at $ 15.21 per ounce silver price fell. 

MCX Live Calls Today :

SELL CRUDE OIL MARCH BELOW 2275 SL ABV 2310 TGT 2248-2216

 

Guar at 5 -year low rates | MCX NCDEX Tips By Experts

Declining global crude prices are directly affecting the demand for guar. In July 2014 $ 100 / barrel crude oil prices go beyond $ 30 a barrel in the global market remains down.

Under which 52 percent are exports of guar. Guar prices fall in demand has come down to 5.3-year low NCDEX Guar prices dropped to the level of October 2010. March 2016 contract on NCDEX GuarGum is trading around Rs5680/quintal.

Nov. 10, 2011, while in 2010 the gum March contract closed at 5642 levels. Last Thursday, the February futures on NCDEX guar seed prices slipped down to the level of Rs 2,953, which is nearly 5 -year low prices.

MCX NCCDEX Tips By Experts: 

Buy Zinc-M February in between 114.25-114.30 SL 113.70 TGT 114.95CMP-114.30

BUY CRUDEOIL ABOVE 2143 TGT 1 2154.33 TGT 2 2158.68 TGT 3 2172.68 SL 2136