Commodity forecast 10 April 2014

Commodity forecast 10 April 2014

Commodity forecast 10 April 2014

MCX GOLD June expiry future last closed at 28,400 with loss. In intraday mcx gold future’s high was at 28,559 while low was at 28,363. Total 200-rupee intraday range and closed with loss. Watch 28,500 as major resistance for gold future.

MCX SILVER May expiry future last closed at 42,646 with loss. In intraday mcx silver future’s high was at 43,281 while low was at 42,301. Total almost 900-rupee intraday range and closed with loss. Below 43k stay short and expect deep downside.

 

MCX ALUMINIUM April expiry future last closed at 110.75 with gain. In intraday mcx aluminium, future hit high at 111 while low was at 108. Total 3-rupee intraday range and closed with gain. Above 110.5, expect next target at 113.

MCX COPPER April expiry future last closed at 404.3 with loss. In intraday mcx, copper future made high at 407 while low was at 401. Total 6-rupee intraday range and closed with loss. 410 will be strong resistance on closing basis.

MCX LEAD April expiry future last closed at 125.5 with gain. In intraday mcx lead future’s high was at 126.25 while low was at 124.7. Total 1.5-rupee intraday range and closed gain. Above 123.5, keep buy on dips view.

MCX NICKEL April expiry future last closed at 1009 with gain. In intraday mcx nickel future’s high was at 1010 while low was at 987. Total 23-rupee intraday range and closed with gain. Nickel is heading towards 1040.

MCX ZINC April expiry future last closed at 121.85 with loss. In intraday mcx zinc, future hit high at 122.7 while low was at 121.6. Total 1-rupee intraday range and closed with loss. Zinc future now near major resistance zone.

 

MCX CRUDEOIL April expiry future last closed at 6231 with gain. In intraday mcx crude oil, future hit high at 6242 while low was at 6143. Total almost 100 rupee intraday and closed with gain. Crude above 6180 will remain buy on dips.

MCX NATURALGAS April expiry future last closed at 276.8 with gain. In intraday mcx natural gas, future made high at 277 while low was at 271. Total 6-rupee intraday range and closed with gain. Above 271, keep buy on dips view.

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Pramod Baviskar

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