Commodity forecast 23 April 2014

Commodity forecast 23 April 2014
Commodity forecast 23 April 2014

MCX GOLD June expiry future last closed at 28,580 with gain. In intraday mcx gold future’s high was at 28,678 while low was at 28,482. Total 250-rupee intraday range and closed with gain. Gold above 28,400 will remain buy on dips.

MCX SILVER May expiry future last closed at 42,223 with gain. In intraday mcx silver future’s high was at 42,470 while low was at 41,943. Total almost 500-rupee intraday range and closed with gain. Blow 43,000 keep sell on rise view here.

 

MCX ALUMINIUM April expiry future last closed at 113.3 with gain. In intraday mcx aluminium, future hit high at 113.45 while low was at 111.3. Total 2-rupee intraday range and closed with gain. Aluminium future is heading towards 115.

MCX COPPER April expiry future last closed at 411 with gain. In intraday mcx, copper future made high at 411 while low was at 406. Total 5-rupee intraday range and closed with gain. 408-410 is now support zone on downside.

MCX LEAD April expiry future last closed at 131.1 with gain. In intraday mcx lead future’s high was at 131 while low was at 129. Total 2-rupee intraday range and closed gain. Target of 131 is achieved now next target zone 133.5-136.

MCX NICKEL April expiry future last closed at 1115 with gain. In intraday mcx nickel future’s high was at 1116 while low was at 1092. Total 24-rupee intraday range and closed with gain. On Ukraine tension nickel is rallying in overbought zone may touch 1200 level here.

MCX ZINC April expiry future last closed at 126.65 with gain. In intraday mcx zinc, future hit high at 126.7 while low was at 124.6. Total 2-rupee intraday range and closed with gain. Zinc future above 125 remains bullish.

 

MCX CRUDEOIL May expiry future last closed at 6232 with loss. In intraday mcx crude oil, future hit high at 6318 while low was at 6205. Total almost 110 rupee intraday and closed with loss. Crude above 6180 will remain buy on dips.

MCX NATURALGAS April expiry future last closed at 288.1 with gain. In intraday mcx natural gas, future made high at 288 while low was at 284. Total 4-rupee intraday range and closed with gain. Above 280, keep buy on dips view.

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Pramod Baviskar

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