Commodity forecast 4 April 2014

Commodity forecast 4 April 2014

Commodity forecast 4 April 2014

MCX GOLD April expiry future last closed at 28,450 with gain. In intraday mcx gold future’s high was at 28,550 while low was at 28,380. Total 200-rupee intraday range and closed with gain. Gold is near major resistance of 28,500 so watch for breakout.

MCX SILVER May expiry future last closed at 43,020 with loss. In intraday mcx silver future’s high was at 43,435 while low was at 42,722. Total almost 700-rupee intraday range and closed with loss. 43k will be strong support on closing basis.

 

MCX ALUMINIUM April expiry future last closed at 109.6 with gain. In intraday mcx aluminium, future hit high at 110.1 while low was at 108. Total 2-rupee intraday range and closed with gain. Above 107, keep buy on dips view for target 111+.

MCX COPPER April expiry future last closed at 405.9 with gain. In intraday mcx, copper future made high at 407 while low was at 402. Total 5-rupee intraday range and closed with gain. 410 will be strong resistance on closing basis.

MCX LEAD April expiry future last closed at 124.05 with gain. In intraday mcx lead future’s high was at 124.3 while low was at 122.45. Total 2-rupee intraday range and closed gain. Below 126, keep sell on rise view.

MCX NICKEL April expiry future last closed at 986 with gain. In intraday mcx nickel future’s high was at 987 while low was at 969. Total 18-rupee intraday range and closed with gain. Above 980, keep buy on dips view.

MCX ZINC April expiry future last closed at 120.25 with gain. In intraday mcx zinc, future hit high at 120.45 while low was at 118.75. Total 2-rupee intraday range and closed with gain. Zinc future may show short covering rally up to 122-123.

 

MCX CRUDEOIL April expiry future last closed at 6060 with gain. In intraday mcx crude oil, future hit high at 6065 while low was at 5970. Total almost 100 rupee intraday and closed with gain. Crude now has support at 5980.

MCX NATURALGAS April expiry future last closed at 270.4 with gain. In intraday mcx natural gas, future made high at 270.5 while low was at 261. Total 10-rupee intraday range and closed with gain. Watch 271-272 as strong resistance level.

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Pramod Baviskar

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