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MCX

MCX GOLD TRADINGYellow metal on MCX may remain volatile, traders can take a short positions. CMP : 46635 at 1:15 (IST) Stop Loss : 46810 Target : 46225 On th October, MCX Gold DEC Contract made a low of ₹ 46477, which is expected to be broken by today or tomorrow amidst a firmer dollar and a rise in US Treasury yields weighed on the precious metal’s appeal. Yellow metal will remain under pressure this week. Buy on dips strategy could work for both the precious metals. Buy zone above - Rs 46,850 for the target of Rs 47,300 Sell zone below - Rs 46,500 for the target of Rs 46,200 December Gold closing price - Rs 46,757, Support 1 - Rs 46450, Support 2 - Rs 46,300, Resistance 1 - Rs 46,850, Resistance 2 - Rs 47,125. MCX:GOLD1!
MCX:GOLD1!Short
by moneymarine
Converging TriangleA close look at the chart of CDLS and BSE reveals that both price charts are making the similar patterns OF CONVERGING TRIANGLES. There was also a similar price and volume breakout in the prices of BSE and CDSL charts a few months back. Both the charts are converging, so a breakout in the near future is expected. The companies such as CDSL and MCX perform similar functions. They serve as depositories. While CDSL is primarily for equities, MXC serves this purpose for commodities. When equities rise, gold will lose value as a good hedge, subsequently trading in commodities will reduce, thus bringing down the turnover in MCX and bringing down its price. In effect, the price charts must show an inverse relation in the charts of MCX AND CDSL. Its surprising to see both the prices rise and hit new highs Another interpretation is that since the financial and capital markets is garnering never before seen attention, its possible that the increase in both the companies may imply the rising belief and participation of the common man in the markets of both equities and commodities.
NSE:BSE
by Robert_Oppenheimer