Commodity forecast 14 November 2013
bullion commodity technical report
mcx gold future last closed at 30060 with loss of 351 rupees.in intraday mcx gold future made high at 30300 while low was at 29972.total 300 rupee intraday range and closed with loss.here expect downside target of 29800.
mcx silver future last closed at 46726 with loss of 1024 rupees.in intraday mcx silver future made high at 47560 while low was at 46673.total 900 rupee intraday range and closed with loss.here 46k will remain as target zone.for all commodities rupee remain key factor and on that note we will expect high volatility.
metal commodity technical report
mcx aluminium future last closed at 111.75 with loss of 2 rupees.in intraday mcx aluminium future made high at 113.65 while low was at 111.35.total 2.5 rupee intraday range and closed with loss on profit booking.here now expect lower levels upto 110-109.
mcx copper future last closed at 443.3 with loss of 15.5 rupees.in intraday mcx copper future made high at 457.55 while low was at 442.8.total 16 rupee intraday range and closed with loss.here below 484 stay short.
mcx lead future last closed at 132.5 with loss of 2.25 rupees.in intraday mcx lead future last closed at 134.35 while low was at 131.75.total 2.5 rupee intraday range and closed with loss.here selling may continue and lead may show 128-127 levels on downside.
mcx nickel future last closed at 869.8 with loss of 8 rupee.in intraday mcx nickel future made high at 875 while low was at 862.total 13 rupee intraday range and closed with loss.here below 880 keep sell on rise view.
mcx zinc future last closed at 118.15 with loss of 1.65 rupees.in intraday mcx zinc future last closed at 119.65 while low was at 117.65.total 2 rupee intraday range and closed with loss.here expect lower levels upto 115.
energy commodity technical report
mcx crude oil future last closed at 5985 with loss of 48 rupees.in intraday crude oil future made high at 6020 while low was at 5916.total 100 rupee intraday range and closed with loss.here watch 6000 level as breakout level.
mcx natural gas future last closed at 229.5 with loss of 4.9 rupee.in intraday mcx natural gas future made high at 234 while low was at 227.4.total 7 rupee intraday range and closed with loss.here above 224 keep buy on dips view.