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Gold commodity recorded huge slump in the past week with the commodity losing near 1% to $1155 per ounce, marking is back to back losing streak as US dollar rose against major currencies. The USDX scended to a 12 year high topping the psychological 100 level. Persistent rising greenback makes a negative case for commodities denominated in the Dollar terms with gains coming due to speculation that the FED might talk about rate hike somewhere during the middle of 2015 in its meeting on March 17-18. In other developments Get MCX Calls here- http://mcxtips-stocktips.blogspot.in/2015/03/mcx-calls-for-today-buy-bullions-on.html

Jeera prices were on a consolidation mode for the past three days and last week closed the day at 15290 levels. As prices are able to hold above the horizontal trend line support of 14900 could see prices to move higher towards 15500/15845 followed by 16000 levels. Moreover, prices are also trading EMA cluster support suggests a near term bullish trend. Daily RSI (14) is also treading positive for the day. However, a break below the support of 14500 could return the bearish mood in the counter. Hence, we recommend buying on dips or firm above 15500 levels.

With the weakness of 0.2 per cent on MCX gold is trading below Rs 27,500. While silver slipped 0.3 per cent to Rs 38 640 break. Although nearly 1 per cent on MCX crude oil is trading at Rs 5070 with. While natural gas is trading at Rs 226.7 climbed 0.5 per cent.

The markets opened in the negative territory today. At present, both the indices are trading very flat with the Sensex down 11 points at 15959 and Nifty down by 3 points at 4775. Banking stocks were under selling pressure, falling nearly 0.5 per cent. Auto and FMCG stocks also traded lower.