Commodity forecast 2 April 2014

Commodity forecast 2 April 2014

Commodity forecast 2 April 2014

MCX GOLD April expiry future last closed at 28,019 with loss. In intraday mcx gold future’s high was at 28,615 while low was at 28,001. Total 600-rupee intraday range and closed with loss. Gold below 28,500 remain sell on rise.

MCX SILVER May expiry future last closed at 42,590 with loss. In intraday mcx silver future’s high was at 43,000 while low was at 42,551. Total almost 450-rupee intraday range and closed with loss. Below 43k, expect downside up to 41k.

 

MCX ALUMINIUM April expiry future last closed at 106.4 with gain. In intraday mcx aluminium, future hit high at 106.7 while low was at 105.55. Total 1-rupee intraday range and closed with gain. Below 107, keep short view.

MCX COPPER April expiry future last closed at 404 with loss. In intraday mcx, copper future made high at 405 while low was at 402. Total 3-rupee intraday range and closed with loss. 410 will be strong resistance on closing basis.

MCX LEAD April expiry future last closed at 112.4 with loss. In intraday mcx lead future’s high was at 124.25 while low was at 122.35. Total 2-rupee intraday range and closed loss. Above 122, expect short covering rally up to 127.

MCX NICKEL April expiry future last closed at 963 with gain. In intraday mcx nickel future’s high was at 965 while low was at 947. Total 18-rupee intraday range and closed with gain. Above 940, keep buy on dips view.

MCX ZINC April expiry future last closed at 118.35 with loss. In intraday mcx zinc, future hit high at 119.5 while low was at 118. Total 1.5-rupee intraday range and closed with loss. Zinc future below 121 remains sell on rise.

 

MCX CRUDEOIL April expiry future last closed at 5981 with loss. In intraday mcx crude oil, future hit high at 6110 while low was at 5980. Total almost 130 rupee intraday and closed with loss. Crude has major support at 5980.

MCX NATURALGAS April expiry future last closed at 257.8 with loss. In intraday mcx natural gas, future made high at 265 while low was at 257. Total 8-rupee intraday range and closed with loss. Watch below 260 keep sell on rise view.

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Pramod Baviskar

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