commodity forecast for 11 june 2013 premarket report
bullion commodity forecast
mcx gold aug future last closed at 28010 with gains.in intraday mcx gold future made high near 28034 while low was near 27600.total 400+ rupee range and sharp rally on weak rupee and comex gold prices soaring.here for tomorrow buy near support 27800 with stoploss and expect 28200+ as target level in intraday.here volatility remain concern.
mcx silver jul last closed at 44190 with 1200 rupee gains.in intraday mcx silver future made low near 42700 while high was above 44200.total 15o0 rupee intraday range and sharp recovery and high volatility.here buy near support 43800 with stoploss and expect 44500 to 45k as intraday targets.
metal commodity forecast
mcx aluminium jun future last closed at 110.45 with gains of 1 rupee.in intraday mcx aluminium future made high near 111 while low was near 109.on chart near resistance and below 111 hold sell on rise view for intraday targets of 109-108.
mcx copper jun expiry future last closed at 416.4 with gains of 3+ rupees.in intraday mcx copper future made low at 411 while high was near 417.total 6 rupee move and support for copper prices due to weak rupee.for tomorrow below 418 hold sell on rise view and expect 412 to 410 as downside target levels.
mcx lead jun expiry future last closed at 125.45 with gains of 1.75 rupees.in intraday mcx lead future made high near 126 while low was near 122.high volatility and found support at 122.5.here also strategy remain same and below 127 hold sell on rise view for targets 112 to 117 on downside.
mcx nickel jun expiry future last closed at 867 with flat gains of 3 rupees.in intraday mcx nickel future made high near 875 while low was near 860.total 15 rupee intraday movement and consolidating nickel.here contra view and above 860 hold long view for target 880-890 on upside in intraday.
mcx zinc jun expiry future last closed at 108.6 with gains of 90 paise.in intraday mcx zinc future made high near 109 while low was near 107.total 2+ rupee intraday volatility and some recovery from bottom.here below 100.5 hold sell view for target 107-106 in intraday.
energy commodity forecast
mcx crude oil jun expiry future last closed at 5580 with gains of 67 rupee.in intraday mcx crude oil future made high at 5588 while low was near 5519.total 70 rupee intraday move and strong crude oil on weak rupee and nymex demand.here buy near support 5540 with stoploss and expect 5630 to 5650 as targets on upside.
mcx natural gas jun expiry future last closed at 222.7 with gains of 2.6 rupee.in intraday mcx ng future made high at 226 while low was near 219.total 7 rupee intraday volatility and recovery in ng prices from lower levels.here buy near support 218 with stoploss and expect 228-232 as intraday targets.