MCX Cardamom May contract opened flat and traded sideways. A bearish trading session is expected in next trading session and overall trend still remains volatile. Hence traders should trade cautiously for next trading session. Trading range for next trading session can be 810-760 levels.
NMCE Rubber closed limit lower at 14023 on Thursday, down 584 or 4.0%. The short term bias is now negative and traders may consider short selling below 14000 with stop losses above 14500 for targets 13500-13000 going into next week. On the upside, 15000 will continue to act as a strong resistance level.
Precious Metals
The yen set an 18-month high against the dollar on Friday, and the greenback fell 0.4 per cent against a basket of major currencies.
Base Metals
The dollar index, which measures the strength of the greenback against a basket of currencies, slid 0.3 percent, falling for a fifth session.
Yesterday, the dollar fell about 3.0 per cent against the Japanese yen after the Bank of Japan disappointed the markets by not offering additional stimulus measures for the struggling economy.