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Market Update 

The market rallied quite sharply since the  Budget day. Yesterday it was the highest single-day gain (777 pts) in seven years , the Sensex rallied another 300 points today.but investors must make sure  not to over invest in stocks. A great opportunity to balance your portfolio.

The market continues to surge ahead with support from banks. The Sensex is up 392.48 points or 1.6 percent at 24171.83, and the Nifty is up 131.35 points or 1.8 percent at 7353.65. About 1823 shares have advanced, 337 shares declined, and 80 shares are unchanged.

Although Oil Prices dropped Today as Industry data revealed a huge build in US crude stockpiles.

Top Stocks to Buy today -PSU banks,Tata Steel,Hindalco
Today's Tip -Buy Utlratech cement with a target of Rs 3300

for more stock tips and recommendations on your phone daily Click Here

Commodity News

 Crude Oil prices Rallied

 US crude futures rebounded today after the  deal between Saudi Arabia and Russia to freeze oil output at January levels would lead to a wider pact among producers that could eventually see production cuts to support prices. US crude had risen 24 cents to USD29.28 a barrel by 0033 GMT, after ending the previous session down 40 cents.

Top oil producers Russia and Saudi Arabia on Tuesday finally agreed to limit oil production at January levels, and other oil exporters also joined in. Iraq, Qatar and Venezuela said they would freeze output at January levels provided a deal could be agreed, while OPEC member Iran could be offered special terms to freeze oil production levels, sources said.

Oil prices initially increases on Tuesday on news of the deal but early gains were wiped out on the realisation there would be no immediate supply cuts to tackle global oversupply as the changes will be taking place gradually to stablize the situation

Commodity Advice:

SELL:

Crude oil MCX with entry 2020 and Target 1920

Natural Gas MCX with Entry 132 and target 124

NEWS FLASH

Successful Meet at Doha: Oil Production will be stabilized 

"Qatar, Saudi Arabia, Russia and Venezuela would lead an effort to freeze output at January levels and due to which  Brent crude futures pared gains."

 The large producers met in Doha, Qatar, to discuss measures to tackle a supply glut that's sent prices to 13-year-lows.It had become a global issue as Saudi Arabia was not ready to freeze the supply of oil due to which oil prices went down.

Qatar's energy minister, Mohammad bin Saleh al-Sada, believes that the agreement would help in  stabilizing  the market. Saudi oil minister Ali Al-Naimi said the freeze was "adequate" for the market, and declared the  meeting to be  successful. He added he hoped producers inside and outside OPEC would adopt the proposal.
Qatar is the current holder of the rotating OPEC presidency.
Earlier, news of the meeting news sparked hopes of an eventual deal on supply cuts, after Saudi Arabia-led oil cartel OPEC previously persistently refused to lower its 30 million barrel-a-day production ceiling in a strategy to squeeze out higher cost energy producers, including U.S. shale companies.

MCX Commodity Update for 8 Jan 2014| Free Trial for 9 Jan

MCX SILVER was trading at Rs 44016 down Rs 541, or 1.21 percent. The SILVER MCX rate touched an intraday high of Rs 44535 and an intraday low of Rs 43865. So far 19468 contracts have been traded. 

MCX GOLD was trading at Rs 28750 down Rs 84, or 0.29 percent. The GOLD MCX rate touched an intraday high of Rs 28800 and an intraday low of Rs 28710. So far 6427 contracts have been traded.

GET ACCURATE MCX COMMODITY TRADING TIPS ON GOLD, SILVER, COPPER, CRUDE ETC BY FILLING OUR FREE TRIAL FORM.

MCX Tips Today : Gold, Silver, Aluminium

Precious metals traded flat as U.S markets remained closed on new year's eve. However,

prices jumped on Thursday morning as bargain hunters resurfaced after prices plunged to a 

six-month low, but optimism over the global economic outlook and the imminent end of the 

U.S. Federal Re-serve's monetary stimulus could cap gains. Talks that Chinese buyers 

returned to buy gold also supported prices, but physical dealers attributed the rally to the thin 

market at the start of the new year.

The MCX SILVER rate touched an intraday high of Rs 45670 and an intraday low of Rs 45290. So 

far 15120 contracts have been traded. SILVER MCX prices have moved up Rs 3676, or 8.78 percent 

in the February series so far. MCX SILVER was trading at Rs 46511 up Rs 176, or 0.38 percent. The 

SILVER rate touched an intraday high of Rs 46630 and an intraday low of Rs 46273. 

MCX SILVER prices have moved up Rs 3511, or 8.17 percent in the April series so far.

MCX GOLD was trading at Rs 29241 up Rs 136, or 0.47 percent. The GOLD rate touched an

intraday high of Rs 29330 and an intraday low of Rs 29150. So far 8912 contracts have 

been traded. GOLD MCX prices have moved down Rs 205, or 0.70 percent in the February series so 

far.

MCX Calls:

>> Buy MCX Aluminium Jan between 110.80 - 111.40, SL - 107, Target - 117 / 120 

>> Buy MCX Gold around Rs 28500 with the stop loss below Rs 28350 for the target of Rs

 28820-29000. 

FOR SPOT RATE OF MCX COMMODITY METALS, CLICK HERE