Commodity forecast 8 April 2014

Commodity forecast 8 April 2014

Commodity forecast 8 April 2014

MCX GOLD June expiry future last closed at 28,356 with gain. In intraday mcx gold future’s high was at 28,360 while low was at 28,221. Total 150-rupee intraday range and closed with gain. Gold may continue to bounce back on weak rupee.

MCX SILVER May expiry future last closed at 43,127 with gain. In intraday mcx silver future’s high was at 43,227 while low was at 42,770. Total almost 400-rupee intraday range and closed with gain. 43k will be strong support on closing basis.

 

 

MCX ALUMINIUM April expiry future last closed at 108.95 with gain. In intraday mcx aluminium, future hit high at 110 while low was at 108. Total 2-rupee intraday range and closed with gain. Above 108, keep long view.

MCX COPPER April expiry future last closed at 407.85 with gain. In intraday mcx, copper future made high at 408 while low was at 399. Total 9-rupee intraday range and closed with gain. 410 will be strong resistance on closing basis.

MCX LEAD April expiry future last closed at 124.5 with gain. In intraday mcx lead future’s high was at 124.6 while low was at 123. Total 1.6-rupee intraday range and closed gain. Below 126, keep sell on rise view.

MCX NICKEL April expiry future last closed at 999 with gain. In intraday mcx nickel future’s high was at 999 while low was at 982. Total 17-rupee intraday range and closed with gain. Above 980, keep buy on dips view.

MCX ZINC April expiry future last closed at 121.15 with gain. In intraday mcx zinc, future hit high at 121.35 while low was at 120. Total 1-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 6052 with loss. In intraday mcx crude oil, future hit high at 6126 while low was at 6040. Total almost 90 rupee intraday and closed with loss. Crude above 5980 will remain buy on dips.

MCX NATURALGAS April expiry future last closed at 273.1 with gain. In intraday mcx natural gas, future made high at 274 while low was at 268. Total 6-rupee intraday range and closed with gain. Above 265, keep buy on dips view.

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Pramod Baviskar

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