Commodity forecast for 20 March 2014

Mcx commodity forecast, outlooks, premarket, intraday levels, technical analysis, chart analysis, price trends for 20 March 2014.

Commodity forecast for 20 March 2014

MCX GOLD April expiry future last closed at 29,945 with loss. In intraday mcx gold future’s high was at 30,222 while low was at 29,926. Total 300-rupee intraday range and closed with loss. Watch 29,800 supports on downside and above 30k keep long view.

MCX SILVER May expiry future last closed at 45,647 with loss. In intraday mcx silver future’s high was at 46,050 while low was at 45,227. Total almost 800-rupee intraday range and closed with loss. Silver above 45k remains buy.

 

MCX ALUMINIUM March expiry future last closed at 104.05 with loss. In intraday mcx aluminium, future hit high at 104.45 while low was at 102.25. Total 2-rupee intraday range and closed with loss. Below 104, expect downside target 101.

MCX COPPER April expiry future last closed at 407.4 with gain. In intraday mcx, copper future made high at 408 while low was at 391. Total 17-rupee intraday range and closed with gain. Watch 408-410 level for breakout.

MCX LEAD March expiry future last closed at 127 with gain. In intraday mcx lead future’s high was at 131 while low was at 124. Total 7-rupee intraday range and closed gain. Above 128, keep long view for targets 132-133.

MCX NICKEL March expiry future last closed at 995.8 with gain. In intraday mcx nickel future’s high was at 998 while low was at 975. Total 23-rupee intraday range and closed with gain. Support a 980 and heading towards 1020.

MCX ZINC March expiry future last closed at 121.3 with gain. In intraday mcx zinc, future hit high at 121 while low was at 119. Total 2-rupee intraday range and closed with gain. Short covering from oversold zone and inching towards averages.

 

MCX CRUDEOIL April expiry future last closed at 6068 with loss. In intraday mcx crude oil, future hit high at 6095 while low was at 6039. Total almost 55 rupee intraday and closed with loss. Crude has given reversal signal for target 6200+.

MCX NATURALGAS March expiry future last closed at 273.2 with loss. In intraday mcx natural gas, future made high at 275.5 while low was at 270. Total 5-rupee intraday range and closed with loss. Indicators are showing reversal signals on chart.

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Pramod Baviskar

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