commodity forecast for 14 june 2013
bullion commodity forecast
mcx gold aug expiry future last closed at 27755 with loss of almost 200 rupees.in intraday mcx gold future made high near 28200 while low was near 27700.total 500 rupee intraday range and profit booking.here rupee and comex gold volatility acting as expected and expect same ahead.for tomorrow below 28k hold bearish view and again 27600 to 27500 as downside intraday targets.
mcx silver jul expiry future last closed at 43219 with loss of 327 rupees.in intraday mcx silver future made high near 44k while low was near 43100.total 900 rupee intraday range and profit booking.here below 43200 expect bearish view for targets 42500 and below in intraday.
metal commodity forecast
mcx aluminium jun expiry future last closed at 106.2 with loss of 35 paise.in intraday mcx aluminium future made high near 108 while low was near 105.total 3 rupee move and we seen target of 105 nearly.for tomorrow trend and momentum remain bearish and below 108 hold bearish view for targets 105 and then 103.
mcx copper jun expiry future last closed at 408.6 with loss of 3 rupee.in intraday mcx copper future made high near 417 while low was near 406.total 11 rupee intraday range and profit booking continues.here below 408 hold bearish view for target 400-398 in intraday.
mcx lead jun expiry future last closed at 121 with loss of 1.45 rupees.in intraday mcx lead future made high near 124 while low was near 120.total 4 rupee move and downtrend continues on intraday.here below 122.5 hold bearish view for targets near 118-117.
mcx nickel jun expiry future last closed at 818.2 with loss of 8 rupee.in intraday mcx nickel future made high near 839 while low was near 816.total 23 rupee intraday volatility and downtrend continues.for tomorrow below 818 hold bearish view for target 800 to 790 on downside.
mcx zinc jun expiry future last closed at 105.7 with loss of 1.15 rupee.in intraday mcx zinc future made high at 108 while low was near 105.total 3 rupee move and sharp profit booking.here same view as metals losing shines and below 107 hold selling view for first short term target 103.
energy commodity forecast
mcx crude oil jun expiry future last closed at 5575 with gains of 15 rupee.in intraday mcx crude oil future made high at 5583 while low was near 5525.total 55 rupee intraday range and inching towards highs.on chart 5600 is clear top and below that hold consolidation and then correction.so bearish view.for target 5450-5400 on downside.
mcx natural gas jun expiry future last closed at 221 with gains of 2.5 rupee.in intraday mcx natural gas future made high near 224 while low was at 216.total 8 rupee move and as expected taken support at 218.here still expect 224 to 228 as targets on upside buy near 218 with stoploss.