Rupee against the dollar -10 Feb 2015

Appreciation of the rupee against the dollar in the domestic market is the sharp decline in food oils. MCX Crude palm oil and soya oil on Mseediiaks declined 1.5 per cent. Pressure in the international market. The initial strength is worth less now. In terms of other agri commodities April Soybean futures are trading down 0.70 per cent to Rs 3,400. The April futures flat cotton and is trading around Rs 730.

The sharp decline in base metals. MCX Copper prices have fallen about 1.75 percent and is trading below the 350 bucks. Sharp decline in nickel and zinc. The price of aluminum has broken nearly 1 percent. About 1 percent of the lead down to Rs 115 seems ripe.


MCX Copper (Feb): Sell - 348, stoploss - 351 and -343 Target

MCX Lead (February futures): Bechen- 114, stoploss - 115 and Target - 112