commodity forecast for 5 july 2013
bullion commodity forecast
mcx gold aug expiry future last closed at 26140 with loss of 156 rupee.in intraday mcx gold future made high at 26270 while low was at 26110.total 150+ rupee intraday range and profit booking.here buy near support of 26k only with stoploss and expect 26250+ as intraday target level.
mcx silver jul expiry future last closed at 40452 with loss of 537 rupee.in intraday mcx silver future made high at 40700 while low was 40400.total 300 rupee intraday range and profit booking.here below 40800 next support is 39700 and may slips upto that.
both gold and silver momentum on comex bullish but here on rupee volatility we may see much more ups and down movements.
metal commodity forecast
mcx aluminium jul expiry future last closed at 107.5 with loss.in intraday mcx aluminium future made high at 108.25 while low was 107.25.total 1 rupee narrow range and profit booking.here 107.5 is support and below this we may see sell off upto 105.
mcx copper jul expiry future last closed at 419.45 with 7 rupee drop.here in intraday we seen high near 425 while low was at 419.45 and closed at it.here for tomorrow watch 218 as support if opens below it go short for target 408.
mcx lead jul expiry future last closed at 124.15 with loss of 1.35 rupee.in intraday mcx lead future made high near 125.2 while low was near 124.total 1 rupee+ range and profit booking.may correct upto 122.5 where traders may find buying opportunity.
mcx nickel jul expiry future last closed at 831 with loss of 7 rupee.in intraday mcx nickel future made high at 838 while low as near 830.total 8 rupee move and closed on profit booking.here buy near 826-828 support zone with stoploss for target 840+ again.
mcx zinc jul expiry future last closed at 110.95 with loss 1.25 rupee.in intraday mcx zinc future made high at 112+ while low was near 110.total 2 rupee range and profit booking.here stay bullish above 110 for same target 112.5+.
energy commodity forecast
mcx crude oil jul expiry future last closed at 6063 with loss of 48 rupee.in intraday mcx crude oil future made high at 6113 while low was at 6060 and closed near it.here correction and consolidation seen as rupee gaining.here watch 6040-6060 support zone below that we may see sell off rally on sharp profit booking.on nymex also below 100 level momentum may change.
mcx natural gas jul expiry future last closed at 220.8 with flat loss.in intraday mcx natural gas future made high at 223 while low was near 219.total narrow 4 rupee range and consolidation.here above 218 hold long view for target 224-228.