India's overseas gold purchases are likely to fall to 25 tonnes in February.
In 2013, India imposed a record by taking high duty of 10% on gold imports. However, the duty only helped the return of smugglers.
India's Gold imports are likely to reduce to over 2 year low in Feb. Industry experts told that surge in prices and hopes of import tax cuts are what keep the buyers away.
According to the estimation that India's overseas gold purchases are likely to fall to 25 tonnes in February. The news is positive for the Narendra Modi government as the imports cost the country $36 billion in 2015.
Daily Market Report:
|
S.No
|
Commodity
|
Contract
|
Support
|
Resistance
|
Recommendation
|
|---|---|---|---|---|---|
|
1
|
Cardamom MCX
|
Mar-16
|
669
|
682
|
Sell @ 680-681, TP 660, SL 691
|
|
2
|
Sugar ICE
|
Mar-16
|
12.49
|
12.74
|
Sell @ 12.75-12.80, TP 12.30, SL 13.15
|
|
3
|
Sugar NCDEX
|
Mar-16
|
3068
|
3100
|
Sell @ 3100-3105, TP 3050, SL 3130
|
|
4
|
Soyabean NCDEX
|
Mar-16
|
3708
|
3775
|
Sell @ 3765-3770, TP @ 876, SL @ 885
|
|
5
|
Soyabean CBOT
|
Mar-16
|
882
|
888
|
Sell @ 882, TP 876, SL 885
|
|
6
|
Maize NCDEX
|
Mar-16
|
1356
|
1360
|
Sell @ 1363-1364, TP 1340, SL 1372
|
|
7
|
Cotton MCX
|
Feb-16
|
16238
|
16319
|
Sell @ 16310-16320, TP 16100, SL 16420
|
|
8
|
Kapas NCDEX
|
Apr-16
|
772
|
777
|
Sell @ 780-781, TP 765, SL 786
|
