commodity forecast for 13 jun 2013
bullion commodity forecast
mcx gold aug expiry future last closed at 27930 with gains.in intraday mcx gold future made low near 27600 while high was near 28k.total 400 rupee intraday move and high volatility continues.here above 27800 support hold long view for intraday and expect 28100 to 28300 as target levels.
mcx silver jul expiry future last closed at 43493 with loss.in intraday mcx silver future made high near 43800 while low was near 43100.total 700 rupee intraday range and profit booking.for tomorrow below this 43800 hold bearish view and silver now following metals sentiment.on downside 43k to 42,600 remain as intraday targets.
metal commodity forecast
mcx aluminium jun expiry future last closed at 106.6 with loss.in intraday mcx aluminium future made high near 109 while low was near 106.total 3 rupee intraday range and profit booking continues.here watch 105 support on closing basis if falls below that then 103 and again 101 levels will expected in medium terms.
mcx copper jun expiry future last closed at 411.6 with gains.in intraday mcx copper future made high at 415 while low was 408.total 7 rupee move and last minute recovery here.watch 408 support if breaks go short for target 400-395 on downside.
mcx lead jun expiry future last closed at 122.4 with loss.in intraday mcx lead future made high near 124 while low was near 122.total 2 rupee move and profit booking continues.here below 126 levels hold short view for target 120-118 on downside in short terms.
mcx nickel jun expiry future last closed at 826 with loss of 18 rupees.in intraday mcx nickel future made high at 845 while low was near 825.total 20 rupee move and closed near lows.here below 840 expect 815 and in worst case 790 as downside targets in intraday.
mcx zinc jun expiry future last closed at 106.85 with gains.in intraday mcx zinc future made high at 107.5 while low was near 106.total 1.5 rupee intraday move and slight outperformance here.for tomorrow below 108 outlook remain bearish and expect 105 and blow levels as targets.
energy commodity forecast
mcx crude oil jun expiry future last closed at 5555 with gains of 38 rupees.in intraday mcx crude oil future made high near 5580 while low as near 5490.total 90 rupee intraday range and some bounce back after correction.here outlook is negative and expect 5450 to 5400 levels as target in intraday.on upside 5610 remain as strong resistance.
mcx natural gas jun expiry future last closed at 218.5 with gains.in intraday mcx ng future made high near 219 while low was near 215.total 4 rupee move and recovery signals as expected.here above 218 expect short covering for targets 224 to 228 in intraday.