Commodity forecast for 12 March 2014

Mcx commodity forecast, outlooks, premarket, intraday levels, technical analysis, chart analysis, price trends for 12 March 2014.

Commodity forecast for 12 March 2014

MCX GOLD April expiry future last closed at 30,225 with gain. In intraday mcx gold future’s high was at 30,335 while low was at 29,963. Total 350-rupee intraday range and closed with gain. Above 30,200 next targets zone will be 30,800.

MCX SILVER May expiry future last closed at 45,855 with loss. In intraday mcx silver future’s high was at 46,800 while low was at 45,500. Total almost 1300-rupee intraday range and closed with loss. Traders must Watch 45 k supports on downside for tomorrow.

 

MCX ALUMINIUM March expiry future last closed at 105.55 with loss. In intraday mcx aluminium, future hit high at 108 while low was at 105. Total 3-rupee intraday range and closed with loss. Watch 104 supports for another breakdown.

MCX COPPER April expiry future last closed at 402.75 with loss. In intraday mcx, copper future made high at 415 while low was at 400. Total 15-rupee intraday range and closed with loss. Heading for 380-370 on downside.

MCX LEAD March expiry future last closed at 124.45 with loss. In intraday mcx lead future’s high was at 128 while low was at 124. Total 4-rupee intraday range and closed loss. Watch 122 as strong support.

MCX NICKEL March expiry future last closed at 946 with gain. In intraday mcx nickel future’s high was at 962 while low was at 942. Total 20-rupee intraday range and closed with gain. Above 940, keep buy on dips view.

MCX ZINC March expiry future last closed at 122.25 with loss. In intraday mcx zinc, future hit high at 125 while low was at 121. Total 4-rupee intraday range and closed with loss. Below 122 may show 118 on chart.

 

MCX CRUDEOIL March expiry future last closed at 6131 with loss. In intraday mcx crude oil, future hit high at 6220 while low was at 6105. Total almost 115 rupee intraday and closed with loss. Crude is now in downtrend for target 6100-6000.

MCX NATURALGAS March expiry future last closed at 281.6 with gain. In intraday mcx natural gas, future made high at 286 while low was at 280. Total 6-rupee intraday range and closed with gain. On downside, watch 276-280 zones as strong support.

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Pramod Baviskar

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