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Buy MCX natural gas above ₹226 Akhil Nallamuthu BL Research Bureau | Updated on May 17, 2021   The continuous futures contract of natural gas on the Multi Commodity Exchange (MCX), which hit a fresh 52-week high of ₹251.3 in early November last year, reversed the direction abruptly and started to depreciate. The decline continued where it marked a low of ₹165 in the ensuing month. Nevertheless, this level acted as a support against which the futures bounced. There has been considerable volatility since November, but in large, the contract is treading in a broad range of ₹180 and ₹2...

I have shares of NMDC bought at an average price of ₹124. Can I continue to stay invested or book profit?Gopalakrishnan SNMDC (₹184.9): The stock of NMDC was in the limelight in the past week as it sk

Buy lead futures; stop loss at ₹168 Akhil Nallamuthu BL Research Bureau | Updated on May 03, 2021 × The continuous futures contract of lead on the Multi Commodity Exchange (MCX) witnessed a downwards trend during the latter part of February after marking a high of ₹181.3. In the ensuing three weeks, the futures price dropped by 13 per cent and touched ₹157 levels. But then the bulls reacted quickly and turned around the trend up. After a brief period of consolidation, the futures have started to rally and they moved past ₹170 last week. The price action on the daily chart looks posi...

Bet long on NCDEX cottonseed oilcake Akhil Nallamuthu BL Research Bureau | Updated on April 20, 2021   The continuous futures contract of cottonseed oilcake (COCUDAKL) on the National Commodity and Derivatives Exchange (NCDEX) has rallied from about ₹1,600 in early September last year. With occasional price moderation, the futures counter has been gained since then and in early April this year, it crossed over a crucial resistance at ₹2,500. The uptrend looks steady and is likely to stay so.   The May futures contract — that was moving in a range between ₹2,250 and ₹2,460 — bro...

MCX copper could top ₹700 Akhil Nallamuthu BL Research Bureau | Updated on April 13, 2021 × Copper has been one of the best performing commodities over the past year and as a result the price of futures continuous contract on the Multi Commodity Exchange (MCX) went up from about ₹360 in March last year and topped ₹745 in the last week of February. But the futures contract witnessed sell-off in the last week of February and in the first week of March. Consequently, the April futures contract dropped from about ₹732 to ₹664 levels, losing about nine per cent. Nevertheless, the contra...