Commodity forecast 6 March 2014

Mcx commodity forecast, outlooks, premarket, intraday levels, technical analysis, chart analysis, price trends for 6 March 2014.

Commodity forecast 6 March 2014

MCX GOLD April expiry future last closed at 30,180 with gain. In intraday mcx gold future’s high was at 30,300 while low was at 30,080. Total 200-rupee intraday range and closed with gain. as expected holding 30k level so keep buy on dips view.

MCX SILVER May expiry future last closed at 47,135 with loss. In intraday mcx silver future’s high was at 47,444 while low was at 46,980. Total almost 500-rupee intraday range and closed with loss. Above 46,800, keep long view intact.

 

MCX ALUMINIUM March expiry future last closed at 107.35 with loss. In intraday mcx aluminium, future hit high at 109 while low was at 107. Total 2-rupee intraday range and closed with loss. Profit booking and strong rupee hit but above 104 keep buy on dips view.

MCX COPPER April expiry future last closed at 439.1 with loss. In intraday mcx, copper future made high at 446 while low was at 439. Total 7-rupee intraday range and closed with loss. Looking weak and may test support 434-432.

MCX LEAD March expiry future last closed at 103.3 with loss. In intraday mcx lead future’s high was at 134 while low was at 130. Total 4-rupee intraday range and closed loss. Watch 130 as strong support.

MCX NICKEL March expiry future last closed at 934 with loss. In intraday mcx nickel future’s high was at 950 while low was at 933. Total 17-rupee intraday range and closed with loss. Above 918, keep buy on dips view.

MCX ZINC March expiry future last closed at 130.35 with loss. In intraday mcx zinc, future hit high at 133.5 while low was at 130.5. Total 3-rupee intraday range and closed with loss. May test support zone of 127-128.

 

MCX CRUDEOIL March expiry future last closed at 6280 with loss. In intraday mcx crude oil, future hit high at 6420 while low was at 6270. Total almost 150 rupee intraday and closed with loss. Crude is heading towards major support zones.

MCX NATURALGAS March expiry future last closed at 280 with loss. In intraday mcx natural gas, future made high at 294 while low was at 280. Total 14-rupee intraday range and closed with loss. On downside, watch 276-280 zones as strong support.

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Pramod Baviskar

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