Commodity forecast 17 April 2014

Commodity forecast 17 April 2014

Commodity forecast 17 april 2014

MCX GOLD June expiry future last closed at 28,590 with gain. In intraday mcx gold future’s high was at 28,657 while low was at 28,315. Total 350-rupee intraday range and closed with gain. Gold above 28,500 will remain buying.

MCX SILVER May expiry future last closed at 42,419 with gain. In intraday mcx silver future’s high was at 42,767 while low was at 41,761. Total almost 1000-rupee intraday range and closed with gain. 43k will be strong resistance level on upside.

 

MCX ALUMINIUM April expiry future last closed at 111.3 with gain. In intraday mcx aluminium, future hit high at 112 while low was at 109. Total 3-rupee intraday range and closed with gain. Above 110, keep long view.

MCX COPPER April expiry future last closed at 404.9with gain. In intraday mcx, copper future made high at 409 while low was at 397. Total 11-rupee intraday range and closed with gain. 410 will be strong resistance on closing basis.

MCX LEAD April expiry future last closed at 128.4with gain. In intraday mcx lead future’s high was at 128.65 while low was at 125.8. Total 3-rupee intraday range and closed gain. Above 127, keep long view for targets 130+.

MCX NICKEL April expiry future last closed at 1078.9 with gain. In intraday mcx nickel future’s high was at 1092 while low was at 1041. Total 50-rupee intraday range and closed with gain. Above 1040, keep buy on dips view.

MCX ZINC April expiry future last closed at 124.25 with gain. In intraday mcx zinc, future hit high at 125 while low was at 123. Total 2-rupee intraday range and closed with gain. Zinc future above 122.5 will remain bullish and buy on dips.

 

MCX CRUDEOIL April expiry future last closed at 6253 with loss. In intraday mcx crude oil, future hit high at 6340 while low was at 6218. Total almost 120 rupee intraday and closed with loss. Crude above 6180 will remain buy on dips.

MCX NATURALGAS April expiry future last closed at 274.3 with loss. In intraday mcx natural gas, future made high at 279 while low was at 274. Total 5-rupee intraday range and closed with loss. Above 272, keep buy on dips view.

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Pramod Baviskar

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