commodity forecast for 11 june 2013

commodity forecast for 11 june 2013


bullion commodity forecast

mcx gold aug future last closed at 28010 with intraday mcx gold future made high near 28034 while low was near 400+ rupee range and sharp rally on weak rupee and comex gold prices for tomorrow buy near support 27800 with stoploss and expect 28200+ as target level in volatility remain concern.

mcx silver jul last closed at 44190 with 1200 rupee intraday mcx silver future made low near 42700 while high was above 15o0 rupee intraday range and sharp recovery and high 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 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+ intraday mcx copper future made low at 411 while high was near 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 intraday mcx lead future made high near 126 while low was near 122.high volatility and found support at 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 intraday mcx nickel future made high near 875 while low was near 15 rupee intraday movement and consolidating 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 intraday mcx zinc future made high near 109 while low was near 2+ rupee intraday volatility and some recovery from 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 intraday mcx crude oil future made high at 5588 while low was near 70 rupee intraday move and strong crude oil on weak rupee and nymex 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 intraday mcx ng future made high at 226 while low was near 7 rupee intraday volatility and recovery in ng prices from lower buy near support 218 with stoploss and expect 228-232 as intraday targets.

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Pramod Baviskar

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