Commodity forecast for 14 March 2014

Mcx commodity forecast, outlooks, premarket, intraday levels, technical analysis, chart analysis, price trends for 14 March 2014.

Commodity forecast for 14 March 2014

MCX GOLD April expiry future last closed at 30,540 with gain. In intraday mcx gold future’s high was at 30,575 while low was at 30,322. Total 300-rupee intraday range and closed with gain. Next target level at 30,800 and support at 30,200.

MCX SILVER May expiry future last closed at 46,725 with loss. In intraday mcx silver future’s high was at 47,071 while low was at 46,411. Total almost 700-rupee intraday range and closed with loss. Above 46,800, keep long view for target 48k.

 

MCX ALUMINIUM March expiry future last closed at 104.8 with loss. In intraday mcx aluminium, future hit high at 106 while low was at 104.8. Total 1.2-rupee intraday range and closed with loss. Below 104 next targets will be 101-100.

MCX COPPER April expiry future last closed at 399.4 with loss. In intraday mcx, copper future made high at 405 while low was at 399. Total 6-rupee intraday range and closed with loss. Stay short with stop loss for target 380 and below.

MCX LEAD March expiry future last closed at 123.35 with loss. In intraday mcx lead future’s high was at 124.3 while low was at 122.8. Total 1.5-rupee intraday range and closed loss. Watch 122 as strong support.

MCX NICKEL March expiry future last closed at 970 with gain. In intraday mcx nickel future’s high was at 971 while low was at 952. Total 19-rupee intraday range and closed with gain. Above 940, keep buy on dips view.

MCX ZINC March expiry future last closed at 121.2 with loss. In intraday mcx zinc, future hit high at 122 while low was at 120.5. Total 1.5-rupee intraday range and closed with loss. Stay short with strict stop loss for target 118.

 

MCX CRUDEOIL March expiry future last closed at 6021 with gain. In intraday mcx crude oil, future hit high at 6038 while low was at 5971. Total almost 75 rupee intraday and closed with gain. Crude has support at 5950 above it expect demand from market.

MCX NATURALGAS March expiry future last closed at 268.9 with loss. In intraday mcx natural gas, future made high at 276 while low was at 267. Total 9-rupee intraday range and closed with loss. On downside, watch 261 is target for this fall.

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Pramod Baviskar

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