Commodity Forecast 5 March 2014

Mcx commodity forecast, outlooks, premarket, intraday levels, technical analysis, chart analysis, price trends for 5 March 2014.

Commodity Forecast 5 March 2014

MCX GOLD April expiry future last closed at 30,172 with loss. In intraday mcx gold future’s high was at 30,650 while low was at 30,050. Total 600-rupee intraday range and closed with loss. Strong corrections on profit booking and strong rupee but above 30k keep long view.

MCX SILVER March expiry future last closed at 46,525 with loss. In intraday mcx silver future’s high was at 47,200 while low was at 46,300. Total almost 900-rupee intraday range and closed with loss. Profit booking but above 45,800 keep long view.

 

MCX ALUMINIUM March expiry future last closed at 108.1 with gain. In intraday mcx aluminium, future hit high at 108.5 while low was at 105.5. Total 3-rupee intraday range and closed with gain. Aluminium may touch 110+ levels in upcoming sessions.

MCX COPPER April expiry future last closed at 444 with gain. In intraday mcx, copper future made high at 445 while low was at 438. Total 7-rupee intraday range and closed with gain. Now 442 levels will act as support.

MCX LEAD March expiry future last closed at 132.25 with gain. In intraday mcx lead future’s high was at 132.6 while low was at 130. Total 2.5-rupee intraday range and closed gain. Watch breakout above 133 for target 136.5.

MCX NICKEL March expiry future last closed at 938 with gain. In intraday mcx nickel future’s high was at 943 while low was at 910. Total 33-rupee intraday range and closed with gain. Prices are heading for target 945 and then possibly 980.

MCX ZINC March expiry future last closed at 132.3 with gain. In intraday mcx zinc, future hit high at 132.4 while low was at 128.55. Total 4-rupee intraday range and closed with gain. Zinc might touch its all time high in upcoming time on demand as well as short covering pressure.

 

MCX CRUDEOIL March expiry future last closed at 6394 with loss. In intraday mcx crude oil, future hit high at 6530 while low was at 6387. Total almost 150 rupee intraday and closed with loss. Profit booking pressure on prices and they are heading towards supports to test them.

MCX NATURALGAS March expiry future last closed at 286 with gain. In intraday mcx natural gas, future made high at 289 while low was at 279.6. Total 10-rupee intraday range and closed with gain. Watch for big rally here.

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Pramod Baviskar

Professional Market Trader And Owner Of Dalal Street Winners Advisory And Coaching Services. Working Since 2007 And Online Presence Since 2010. We Provide Highly Accurate And Professional 1 Entry And 1 Exit Future, Option, Commodity, Currency And Intraday Stock Tips On Whatsapp With Live Support And Follow Up.
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