Commodity tips
Crude Oil has been shrinking down since the start of November. The prices resumed their selling journey and settled lower on 11 November 2014. The prices of Crude Oil settled at Rs 4773 per barrel.

Gold moved higher and ended the day at Rs 25796 per 10 grams, 0.24%. The prices tested a high of Rs 26878 and a low of Rs 25443 per 10 grams. The prices of Gold also moved closer to 9 day EMA which was set at Rs 25999 per 10 grams. Open interest in Crude Oil is at 7951 on 11 November 2014.

After a low of Rs 407.6 per kg on 11 November 2014, the prices of Copper recovered but were still unable to cross Rs 416 per kg in last session. The prices recovered and ended at Rs 412.75 per kg. Though the expectations of the prices to breach Rs 410 per kg on the closing basis were met it is yet to be ascertained whether this is sustainable or not. Open interest is at 9908 against 9541 on 10 November 2014.

Turmeric futures swelled on strong buying support lead by weak production estimations and weak arrivals on the back of lower carryover stocks with stockiest. The NCDEX turmeric for the December delivery ended the day at Rs 6560, up Rs 110 or 1.71%.

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Commodity Tips