Fear weak Monsoon and crop failure due to unseasonal rains is shown on commodity market. Especially the prices of essential commodities have gone up strongly.
Chana has taken upper circuit of 4% and its price reached above Rs 4370. Soyabean and Mustard is trading with 3% gain. Wheat price moved 1.25% higher, cotton price rise steadily and has been costly nearly 7%.
Chana NCDEX May Future Buy Target Rs 4440.
Soya Oil NCDEX June Future Buy Target Rs 579.
Mustard Seed NCDEX May Future Buy Target 3955.
Gold continues to fall, US non-form payroll data is going to declare this week, due to this Gold price has came to 1.5 month low level in international market. Silver also traded under pressure. At MCX Gold June future is traded at 26782.00 down 0.32% and Silver May future is traded at 37032.00 down 0.26%.
The pressure is also visible on Base Metals, all metals are trading down including Copper. Zinc and Lead down most.
Crude Oil is trading in narrow range, at MCX Crude oil is traded at Rs 3760 with slight gain of 0.1%.
Silver MCX July future Sell below 37032 Target 37001 stop loss 37062.
Crude oil MCX May future Buy above 3785 Target 3800 stop loss 3775.