Commodity Trading

The resolution professional of Future Enterprises Ltd (FEL) has finalised a provisional list of three Prospective Resolution Applicants (PRA), an exchange filing from the debt-ridden company said

Unlike in the past, the Centre isn't restricting movement within the economy, but has only imposed export curbs. Consequently, there is no rush to use the Essential Commodities Act

The MCX Natural Gas futures may test Rs 704 as indicated on the daily charts; the bias for the remainder of the week is likely to remain bullish as long as Natural Gas sustains above Rs 673.

The upside for MCX Gold June futures seem capped around Rs 51,500-odd level; while MCX Silver futures are likely to face strong resistance in the Rs 64,200 - 64,800 range.

The MCX Gold futures may slide towards the 200-DMA at Rs 48,840 in the near term; while the broader trend indicates a downside target of Rs 53,000 for MCX Silver futures.

The MCX Crude Oil futures may test Rs 7,540-odd level this week; while on the upside MCX Natural Gas May futures are likely to face resistance around Rs 590.

The MCX Silver July futures are currently trading below all its key moving averages; similarly, MCX Gold futures need to break above Rs 51,870 for further up move to emerge.

The MCX Natural Gas May futures are likely to trade with a bullish bias in May as long as the commodity holds above Rs 576-level.

The MCX Gold futures seem to be facing considerable resistance around Rs 52,250 as per the monthly charts. Similarly, the upside for Silver seems likely to be capped around Rs 64,200-64,750 odd levels

The bias is likely to remain bullish as long as Crude Oil futures sustain above Rs 7,830, below which the next crucial support is at Rs 7,730.

The MCX Gold futures may seek near support around Rs 52,040; whereas Silver futures have multiple key support around Rs 65,235 and Rs 64,600.

The MCX Crude Oil futures may seek support around the 50-DMA at Rs 7,716; while the bias for Natural Gas is likely to remain bullish as long as it sustains above Rs 525.

The MCX Gold futures are likely to face considerable resistance around Rs 53,500-odd levels; MCX Silver futures can test Rs 71,300 on the upside.

MCX Crude Oil futures can test the 20-DMA in the near term placed at Rs 7,900-odd level.

MCX Gold may rally to Rs 53,570 on the upside; break and sustained trade above Rs 52,250 to add momentum.

The official statement released on Saturday said the government plans to allocate 24.4 million tonnes (mt) of wheat and rice for PMGKAY for the next six months starting April 1.

As long as the Russia-Ukraine heat continues, commodities will be the dominating theme versus the consumption theme said B Gopkumar, MD and CEO at Axis Securities.

Under mechanism, Sebi said All In the Money option contracts will be exercised automatically, unless 'contrary instruction' has been given by long position holders of such contracts for not doing so

The dollar index was steady and riskier currencies picked up on Tuesday, as traders bet that the Omicron variant of COVID-19 would not be as severe as previously expected.

The rate of gold jewellery varies across the nation due to excise duty, state taxes, and making charges.