Due to the threat of global trade war, the metal is getting lethargic. Copper has slumped below $ 7,000 on the London Metal Exchange. In the domestic market, the base metal is trading in very small scope today. Currently, on MCX, Copper is trading at a low of 0.1 percent with a marginal decline of 454.4. Aluminum is trading 0.2 percent and is trading at Rs 138.75. Nickel is trading at Rs 877.2 with the weakness of more than 0.5 percent. Lead and zinc movements look sluggish.
Crude oil has declined and it has slipped in the domestic market along with the global market. In fact, the reserves of crude in the US increased by about 56.5 million barrels. Currently, crude oil on MCX slips 0.7 percent and is trading below Rs 4,040. Natural gas is trading at Rs 179.3 with an increase of 0.25 percent.
There is lightning in gold, while silver has fallen. Gold prices are getting support from the weak rupee in the domestic market. At present, gold is trading at Rs 30,640 with an increase of 0.25 percent on the MCX. Silver is flat and looks at Rs 39,260
Gold MCX (April Futures): Buy - 30500, StopLoss - 30300 and Target - 30700
Silver MCX (May futures): Buy - 38900, StopLoss - 38500 and Target - 39700
Copper MCX (February futures): Sell - 458, StopLoss - 462 and Target - 450
Nickel MCX (February futures): Sell - 890, StopLoss - 905 and Target - 870
Crude oil MCX (March futures): Sell - 4090, StopLoss - 4150 and target - 4020
Soybean NCDEX (March futures): Buy - 3840, StopLoss - 3805 and Goal - 3940
Soya Oil NCDEX (March futures): Buy - 785, StopLoss - 778 and Target - 795
Cumin NCDEX (March futures): Buy - 14250, StopLoss - 14000 and target - 14700
Chana NCDEX (March futures): Buy - 3700, StopLoss - 3650 and target - 3800
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