commodity forecast for 12 jun 2013
bullion commodity forecast
mcx gold aug future last closed at 27910 with loss of 101 rupees.in intraday mcx gold future made highs near 28300 while low was near 26700.total 600 rupee intraday volatility as expected on news flow and rupee.for tomorrow below 28k hold bearish view and on downside expect 27600 to 27400 as targets.buying suggested above 28k with stoploss.
mcx silver jul expiry future last closed at 43635 with loss of 527 rupees.in intraday mcx silver future made high near 44500 while low was near 43300.total 1200 rupee volatility and sharp profit booking.for tomorrow below 43800 hold bearish view and expect 43k to 42,800 as downside targets on follow up profit booking.rupee volatility remain concern for whole commodity market.
metal commodity forecast
mcx aluminium jun expiry future last closed at 108.25 with loss of 2.15 rupees.in intraday mcx aluminium future made high near 112 while low was near 108.total 4 rupee intraday volatility and sharp profit booking.here expect correction to continue and below 110.5 hold selling view for target 106-105.
mcx copper jun expiry future last closed at 411 with loss of 6 rupee.in intraday mcx copper future made high near 422 while low was near 410.total 12 rupee move and profit booking as metal pack slips.here below 418 level hold bearish view for intraday and expect 408 to 405 in intraday.
mcx lead jun expiry future last closed at 122.7 with almost 3 rupee drop.in intraday mcx lead future made high at 127.45 while low was near 122 total 5 rupee intraday volatility and strong profit booking here. for tomorrow watch 122.5 support if breaks go short for target 120-117.5.
mcx nickel jun expiry future last closed at 844.8 with loss of 23 rupees.in intraday mcx lead future made high at 878 while low was near 843.total 35 rupee intraday move and sharp profit booking.here below 860 hold sell on rise view for target 828 to 815 in medium terms.
mcx zinc future jun last closed at 106.9 with loss of 1.9 rupee today.in intraday mcx zinc future made high near 110 while low was near 106.total 4 rupee move and profit booking.for tomorrow below 108 hold bearish view and expect 105 and even below levels on profit bookings.
energy commodity forecast
mcx crude oil jun expiry future last closed at 5508 with loss of 67 rupees.in intraday mcx crude oil future made high at 5648 while low was 5505.total almost 150 rupee intraday volatility and profit booking.here rupee will affect technical trends.for tomorrow follow selling can take crude upto 5450 and even below so stay short with stoploss.
mcx ng future jun expiry last closed at 218 with loss of 4 rupee.in intraday mcx ng future made high near 224 while low was near 217.total 7 rupee intraday move and profit booking continues.here take contra view and buy with stoploss for target 224 to 228 in intraday.