Commodity forecast 7 November 2013
bullion commodity technical report
mcx gold future last closed at 30032 with gains of 340 rupees.in intraday mcx gold future made high at 30097 while low was at 29617.almost 500 rupee intraday range and closed with gains as rupee falls.here above 29800 keep buy on dips view.
mcx silver future last closed at 48687 with gains of 528 rupees.in intraday mcx silver future made high at 49154 while low was near 48k.total 1150 rupee intraday range and closed with gains as rupee falls.here expect higher levels upto 50k if rupee remains weak.
metal commodity technical report
mcx aluminium future last closed at 112.5 with gains of 60 paise.in intraday mcx aluminium future made high at 113.2 while low was at 111.3.total 2 rupee intraday range and closed with gains.here if rupee falls expect higher levels upto 115.
mcx copper future last closed at 448.8 with loss of 85 paise.in intraday mcx copper future made high at 454.15 while low was at 447.total 7 rupee intraday range and closed in red on sharp selling pressure.here above 440 keep buy on dips view.
mcx lead future last closed at 134.85 with gains of 10 paise.in intraday mcx lead future made high at 135.8 while low was at 113.7.total 2 rupee+ range and closed with gains.here if rupee falls then expect 138+ levels.
mcx nickel future last closed at 884.8 with loss of 12 rupees.in intraday mcx nickel future made high at 903 while low was at 877.total 26 rupee intraday range and closed in red on profit booking.here watch 880 support.
mcx zinc future last closed at 119.05 with gains of 10 paise.in intraday mcx zinc future made high at 120.2 and low was 118.5.total almost 3 rupee intraday range and closed with gains.here if rupee continue to tumble down then expect 122-124 levels.
energy commodity technical report
mcx crude oil future last closed at 5969 with gains of 149 rupees.in intraday mcx crude oil future made high at 5974 while low was at 5827.total 150 rupee intraday range and closed with gains.here expect much higher levels if rupee continue to falls.
mcx natural gas future last closed at 220.6 with gains of 3.4 rupees.in intraday mcx ng future made high at 222.7 while low was at 215.9.total 7 rupee intraday range and closed with gains on short covering.here expect 224-232 as next target zone.