commodity calls technical’s report
mcx bullion outlook
mcx gold April future closed at 30795 with gains.today mcx gold future hit low near 30600 while high was nearly 30900 so total 1% or 300 points volatility.for tomorrow outlook remain bullish as trend and momentum on buying side.rupee weakness continue to support so expect 30950 to 31060 as target levels.30680 is major support on downside.
mcx silver march future closed at 58050 with loss.today we seen sharp volatile moves and overall weak momentum.today silver made lows near 57800 while high was near 58600.for tomorrow below 58300 remain sell and expect 57600 to 57000 levels as targets.
mcx base metals outlook
mcx aluminium feb future closed at 111.5 with gains.today with gap down opening aluminium future hit low at 110 while high was 111.5.look like aluminium bottomed out and heading toward upside.for tomorrow above support of 111.2 targets will be 112-112.5.
mcx copper april future today closed at 446.35 with gains.today copper future made highs near 447.5 while low was 444.5.so very narrow range and consolidation momentum.below 447.5 still look weak and on downside expect 442-440 as targets for tomorrow.
mcx lead feb future closed at 129.1 with gains.today after gap down opening lead future made lows near 127.7 while high was 129.25 and closed near it.watch 129.5 on upside if opens above it then buy for 130-131 targets.
mcx nickel feb future closed at 972 with loss.today mcx nickel feb future made highs near 978 while low was 970 and closed near it.for now below 985 resistance trend remain on downside.for tomorrow follow sell on rise with stoploss just above 985.on downside 960-950 possible targets.
mcx zinc feb future closed at 114.95 with gains.today we seen highs near 115 while low was 113.8.now 114.7 is major support and above this strategy remain buy on dips while on upside targets are 115.5 to 117.
mcx energy outlook
mcx crude oil feb future closed at 5133 with loss.today we seen highs near 5185 while low was 5120.for tomorrow 5140-5150 is major resistance zone below that 5080-5000 will be major targets while above that crude will be buy.but as momentum weak we may see gap down opening.
mcx natural gas feb future closed at 177.9 with loss.today mcx natural gas future hit high near 185 while low was near 178 and closed near it.for tomorrow below 181 traders maintain shorts and expect 174-170.while long term traders must accumulate near 170-174 with stoploss for target 200+.