Commodity forecast 28 March 2014

Mcx commodity forecast, outlooks, premarket, intraday levels, technical analysis, chart analysis, price trends for 28 March 2014.

Commodity forecast 28 March 2014

MCX GOLD April expiry future last closed at 28,447 with loss. In intraday mcx gold future’s high was at 28,700 while low was at 28,290. Total 400-rupee intraday range and closed with loss. Below 28,500, keep sell on rise view.

MCX SILVER May expiry future last closed at 42,892 with loss. In intraday mcx silver future’s high was at 43,136 while low was at 42,559. Total almost 600-rupee intraday range and closed with loss. Below 43k, keep short view for target 42.2k.

 

MCX ALUMINIUM March expiry future last closed at 101.95 with gain. In intraday mcx aluminium, future hit high at 102.6 while low was at 101.4. Total 1.2-rupee intraday range and closed with gain. Expect technical bounce back on weak rupee.

MCX COPPER April expiry future last closed at 400.8 with gain. In intraday mcx, copper future made high at 403 while low was at 397. Total 6-rupee intraday range and closed with gain. Expect bounce back up to 408.

MCX LEAD March expiry future last closed at 123.55 with gain. In intraday mcx lead future’s high was at 124.1 while low was at 122. Total 2-rupee intraday range and closed gain. Expect technical bounce back on weak rupee.

MCX NICKEL March expiry future last closed at 947 with loss. In intraday mcx nickel future’s high was at 957 while low was at 943. Total 14-rupee intraday range and closed with loss. Above 940, keep buy on dips view.

MCX ZINC March expiry future last closed at 118.6 with gain. In intraday mcx zinc, future hit high at 119 while low was at 117. Total 2-rupee intraday range and closed with gain. Expect bounce back on weak rupee.

 

MCX CRUDEOIL April expiry future last closed at 6134 with gain. In intraday mcx crude oil, future hit high at 6148 while low was at 6043. Total almost 100 rupee intraday and closed with gain. Crude future above 6100 now remains buy for targets 6200 and above.

MCX NATURALGAS April expiry future last closed at 274.2 with gain. In intraday mcx natural gas, future made high at 274 while low was at 264. Total 10-rupee intraday range and closed with gain. Support is at 270 and heading for 282-285 levels.

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Pramod Baviskar

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