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Intraday Call:

Buy Lead MCX Feb in the range of 101.10-101.20, T1 102.85 SL 100.1,

By Geena Paul
NEW YORK : Again, the bullion market is abuzz with talks that the International Monetary Fund (IMF) is ready to offload its 191 tonnes of gold in the market. This means the IMF will sell its gold to one of the official holders of the metal after considering bids by all interested parties.

Crude slipped nearly 2% to close to 79 dollars. Base metals were mired at lower levels as a robust dollar wiped out gains. Copper fell the most in almost three weeks after a report showed that confidence among US consumers slid to the lowest level since April.

Here is a summary of a commodity market report by SMC Research:

SELL GOLD APRIL BELOW 16410
STOPLOSS: 16440
TARGET: 16380-16350-16311.
CMP: 16434.

ADVANCE CALL.

SELL COPPER 324.15,TG-323,321.5,319.5, SL 326.65

BEIJING : China Gold Association said Tuesday it is not feasible for China to buy the IMF bullion, as any purchase or even intent to do so would trigger market speculation and volatility.

COPPER FEB SELL BELOW 326 TRGT 321 318 SL 328.3

TODAYS MARKET CALLS

( NANDINI RESEARCH )

Volatile trends for copper

( NANDINI RESEARCH )

Mustard April futures are trading weak and have support at Rs 468 (contract low). Strong resistance is at Rs 482 (20 SMA). Volume and open interest is flat, said Dharmesh Bhatia, technical analyst, Kotak Commodity Services. Selling on rise at Rs 480-482 with stop loss of Rs 488 and target of Rs 468 is advisable.

nandini.research@yahoo.com

NANDINI RESEARCH ( nandini.research@yahoo.com )

MCX-TODAY TREND, SUPPORT & RESISTANCE (24TH FEB 2010)

By Martin Hutchinson
In the last month’s US Treasury report, it was announced that China had sold $34.2 billion of Washington’s debt in December – or allowed short-term bonds to run off – making Japan once again the largest holder of US Treasuries.