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Wednesday, 8 February 2017

Commodity Market Tips By Experts For Today(8 February 2017)

Stock Market started on a flat note on Wednesday morning. Sensex has moved down 2 points at 28332 and Nifty50 is 5 points at 8773. SmallCap and MidCap sectors are still in the positive zone with good hikes. BSE Small Cap has raised 35 points at 13563 and BSE MidCap is 33 points up at 16135. 

Top Gainer's Today:
ACC, Ambuja Cements, Bharti Infratel, Zee Entertain, Grasim
Top Loser's Today: Axis Bank, Bharti Airtel, Dr Reddys Labs, ICICI Bank, Aurobindo Pharm

Commodity Market Update
PRECIOUS METALS: Precious metal prices are range bound for the day, easing on a stronger dollar amid political and economic uncertainty in the United States and Europe.

ENERGY: Crude oil prices down yesterday by API weekly report which noted a sharp 14.2 million barrels increase in US crude stocks. China's 2016 oil demand grew at the slowest pace in at least three years raising concerns about demand growth.

BASE METALS: Base metal prices are range bound yesterday due to dollar rose and worries about demand growth in top consumer China. Lending support to the prices is worries of supply disruption after workers at Chile’s Escondido Copper mine decide to initiate strike from Thursday.

GOLD(APR) RESISTANCE2: 29700 RESISTANCE1:29500
SUPPORT1:29100 SUPPORT2:28900 

SILVER (MARCH) RESISTANCE2:43200 RESISTANCE1:42800 
SUPPORT1:42000 SUPPORT2:41600

CRUDE OIL (FEB) RESISTANCE2:3600 RESISTANCE1:3550 
SUPPORT1:3430 SUPPORT2:3380