commodity forecast for 13 sep 2013 report
bullion commodity forecast
mcx gold oct expiry future last closed at 30096 with loss of almost 600 rupees.in intraday mcx gold future made high near 30700 while low was near 29800.total 900 rupee intraday range and closed with loss.here as suggested watch 29800 support below that downtrend and big deep downside for gold prices but if hold then fresh investment opportunity for target 34-35k on upside.
mcx silver dec expiry future last closed at 50525 with loss of almost 2000 rupees.in intraday mcx silver future made high near 53300 while low was near 50300.total 3000 rupee intraday range and closed with huge sell off.here closing below 50k confirm downside breakout for target 48-45-43k targets.
metal commodity forecast
mcx aluminium sep expiry future last closed at 113.55 with gains of 85 paise.in intraday mcx aluminium future made high near 114 while low was near 112.her almost 2 rupee range and showing bounce back on rupee weakness.here above 112.5 hold long view for target 115-117 on upside.
mcx copper nov expiry future last closed at 460 with loss of 5 rupees.in intraday mcx copper future made high near 467 while low was near 456.total 11 rupee intraday range and closed in red.here below 468 keep short view for target 455-448 on downside.
mcx lead sep expiry future last closed at 134.9 with gains of 55 paise.in intraday mcx lead future made high near 135 while low was near 132.total 3 rupee intraday range and closed with gains.here above 133 keep long view for target 137-140 on upside.
mcx nickel sep expiry future last closed at 881 with gains of 8 rupees.in intraday mcx nickel future made high near 882 while low was near 865.total 17 rupee intraday range and closed with gains.here above 880 keep long view for target 910 and above.
mcx zinc sep expiry future last closed at 118.45 with gains of 75 paise.in intraday mcx zinc future made high near 119 while low was near 117.total 2 rupee intraday range and closed with gains.here bounce back rally may continue upto 120-122.
energy commodity forecast
mcx crude oil sep future last closed at 6949 with gains of 84 rupees.in intraday mcx crude oil future made high near 6970 while low was near 6821.total almost 150 rupee intraday range and closed with gains.here above 6900 keep long view for intraday and expect target at 7050-7100.
mcx natural gas sep expiry future last closed at 232.7 with gains of 3 rupees.in intraday mcx ng future made high near 235 while low was near 225.total almost 10 rupee intraday rally and closed with gains.here above 228 keep long view for target 238-245 on upside.