MCX Cardamom Mar contract continued negative trend as traders bet on selling side. Traders are advised to hold there short position in next trading session as overall trend remains bearish. Cardamom futures trading session is seen between 735-690 and breaking that might trade lower in coming session.
NMCE Rubber lost 88.0 or 0.94% to close at 9320 on Monday. The outlook continues to remain negative and traders may consider short selling below 9250 for 9000 in intraday. On the upside, resistance at 9550 is seen as a key reversal level. The intraday bias is neutral.
Precious Metals
Silver futures at MCX also likely to trade on a bullish note today. MCX Silver for delivery in March has an intraday support of 36500. intraday resistance for the metal is likely to be seen around 37300 levels.
Base Metals
Copper futures at India's Multi Commodity Exchange (MCX) is likely to trade on a sideways note today. Intraday support for MCX Copper for delivery in February is seen around 310 while 316.2 is the resistance for the same.
The market is now focused on weekly data from the American Petroleum Institute of crude and refined product stocks in the U.S. That will be followed on Wednesday by more closely-watched figures from the U.S. Department of Energy.