Commodity forecast 7 February 2014

Commodity forecast 7 February 2014

 

MCX Commodity future premarket price trend report

 

MCX GOLD April expiry future last closed at 28,654 with loss. In intraday mcx gold future’s high was at 28,940 while low was at 28,627. Total 300-rupee intraday range and closed with loss. For intraday, mcx gold remain buy and outlook is bullish.

MCX SILVER March expiry future last closed at 44,467 with gain. In intraday mcx silver future’s high was at 45,020 while low was at 44,280. Total almost 800-rupee intraday range and closed with gain. For intraday, mcx silver is buy strong bullish outlook.

 

MCX ALUMINIUM Feb. expiry future last closed at 105 with loss. In intraday mcx aluminium, future hit high at 105.5 while low was at 104.5. Total 1 -rupee intraday range and closed with loss. For intraday, mcx aluminium future is buy and recovery is expected here.

MCX COPPER Feb. expiry future last closed at 444.4 with gain. In intraday mcx, copper future made high at 447 while low was at 442. Total 5-rupee intraday range and closed with gain. For intraday mcx, copper future is buy as short covering is expected here.

MCX LEAD Feb. expiry future last closed at 131.5 gains. In intraday mcx lead future’s high was at 132while low was at 130. Total 2-rupee intraday range and closed gain. For intraday mcx, lead future is buy for target 134.

MCX NICKEL Feb. expiry future last closed at 869 with gain. In intraday mcx nickel future’s high was at 877 while low was at 863. Total 14-rupee intraday range and closed with gain. For intraday mcx nickel, future is heading towards 900 levels.

MCX ZINC Feb. expiry future last closed at 124.85 with gain. In intraday mcx zinc, future hit high at 125 while low was at 123. Total 2-rupee intraday range and closed with gain. For intraday mcx zinc, future is buy for big target on upside.

 

MCX CRUDEOIL Feb. expiry future last closed at 6078 with loss. In intraday mcx crude oil, future hit high at 6182 while low was at 6078. Total almost 100 rupee intraday and closed with loss. For intraday mcx crude oil, future below 6120 remains weak and may correct.

MCX NATURALGAS Feb. expiry future last closed at 310.6 with loss. In intraday mcx natural gas, future made high at 338 while low was at 309. Total 29-rupee intraday range and closed with loss. For intraday mcx NG, future is sell and correction will continue.

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Pramod Baviskar

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