commodity forecast for 18 jun 2013
bullion commodity forecast
mcx gold aug expiry future last closed at 27850 with loss of 29 rupee.in intraday mcx gold future made high near 28k while low was near 27700.300 points intraday range and profit booking.here below 28k on closing basis remain bearish and expect 27700 to 27600 as downside first target zones.
mcx silver jul expiry future last closed at 43555 with loss of 279 rupees today.in intraday mcx silver future made high near 43900 while low was near 43300.total 600 rupee intraday range and profit booking remain concern ahead fed meet.here below 43800 for intraday hold short view for targets 43k to 42500 on downside.
metal commodity forecast
mcx aluminium jun expiry future last closed at 105.4 with loss of 20 paise.in intraday mcx aluminium future made high near 106 while low was near 104.total 2 rupee range and profit booking continues.here below 106 for now hold short view for target near 103.
mcx copper jun expiry future last closed at 409.5 with gains of 1.55 rupee.in intraday mcx copper future made high near 412 while low was near 407.total 5 rupee intraday move and holding 408 support repeatedly.for tomorrow above 408 outperformance and expect 412 to 416 as target ahead.
mcx lead jun expiry future last closed at 122 with gains of 10 paise.in intraday mcx lead future made high near 123 while low was near 121.total 2 rupee range and closed flat.here below 112.5 on closing basis remain sell and expect 120-118 as downside sharp targets.
mcx nickel jun expiry future last closed at 823 with loss of 4 rupees.in intraday mcx nickel future made high near 832 while low was near 818.total 14 rupee intraday range and profit booking continues.here below 840 hold sell on rise view for target near 810-800 zone.
mcx zinc jun expiry future last closed at 106.45 with gains of 45 paise.in intraday mcx zinc future made high near 107 while low was near 105.total 2 rupee move and some bounce back here.but below 108 hold sell view on bounce back and expect targets near 103-101 in short terms.
energy commodity forecast
mcx crude oil jun expiry future last closed at 5681 with gains of 18 rupees.in intraday mcx crude oil future made high near 5715 while low was near 5629.total almost 90 rupee move and rally continues on upside on crisis and weak rupee.for tomorrow above 5630 support hold long view for new high near 5750 to 5800.
mcx natural gas jun expiry future last closed at 225.3 with gains of almost 9 rupee.in intraday mcx natural gas future made high near 226 while low was near 216.almost 10 rupee move and sharp short covering as expected.for this week expect sharp bull run upto 240-250 levels if remain above 218!!