Commodity forecast 16 April 2014

Commodity forecast 16 April 2014

Commodity forecast 16 April 2014

MCX GOLD June expiry future last closed at 28,586 with loss. In intraday mcx gold future’s high was at 28,850 while low was at 28,200. Total 650-rupee intraday range and closed with loss. Traders must watch 28,500 for intraday long and shorts.

MCX SILVER May expiry future last closed at 42,308 with loss. In intraday mcx silver future’s high was at 43,060 while low was at 41,526. Total almost 1500-rupee intraday range and closed with loss. Silver almost achieved given target of 41k.

MCX ALUMINIUM April expiry future last closed at 110.4 with loss. In intraday mcx aluminium, future hit high at 111.8 while low was at 109.8. Total 2-rupee intraday range and closed with loss. Above 109, keep long view.

MCX COPPER April expiry future last closed at 400 with loss. In intraday mcx, copper future made high at 406 while low was at 396. Total 10-rupee intraday range and closed with loss. 410 will be strong resistance on closing basis.

MCX LEAD April expiry future last closed at 126.85 with loss. In intraday mcx lead future’s high was at 127 while low was at 125. Total 2-rupee intraday range and closed loss. Below 127, keep sell on rise view.

MCX NICKEL April expiry future last closed at 1071 with loss. In intraday mcx nickel future’s high was at 1075 while low was at 1033. Total 45-rupee intraday range and closed with loss. Nickel has given technical correction up to 1030 according to expectation.

MCX ZINC April expiry future last closed at 123.55 with loss. In intraday mcx zinc, future hit high at 1124 while low was at 122. Total 2-rupee intraday range and closed with loss. Zinc future below 125 may continue downside.

MCX CRUDEOIL April expiry future last closed at 6276 with loss. In intraday mcx crude oil, future hit high at 6291 while low was at 6213. Total almost 80 rupee intraday and closed with loss. Crude above 6180 will remain buy on dips.

MCX NATURALGAS April expiry future last closed at 276.4 with gain. In intraday mcx natural gas, future made high at 280 while low was at 272.6. Total 8-rupee intraday range and closed with gain. Above 270, keep buy on dips view.

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Pramod Baviskar

Professional Market Trader And Owner Of Dalal Street Winners Advisory And Coaching Services. Working Since 2007 And Online Presence Since 2010. We Provide Highly Accurate And Professional 1 Entry And 1 Exit Future, Option, Commodity, Currency And Intraday Stock Tips On Whatsapp With Live Support And Follow Up.

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