commodity forecast for 20 sep 2013

commodity forecast for 20 sep 2013

bullion commodity forecast

mcx gold future last closed at 30447 with gains of 457 rupees.in intraday mcx gold future made high near 30700 while low was near 30100.total 600 rupee intraday range and closed with gains.here above 30200 keep long view for intraday and expect target 31k and then 31400 on upside.

mcx silver future last closed at 51586 with gains of 2011 rupees.in intraday mcx silver future made high near 52200 while low was near 49900.total 2300 rupee intraday range and closed with gains.here given target 52k achieved now above that multiple targets at 54-55-56 on downside 50500 is intraday support.

metal commodity forecast

mcx aluminium future last closed at 111.25 with loss of 25 paise.in intraday mcx aluminium future made high near 112 while low was near 109.total 3 rupee intraday range and closed with gains.here above 110 keep long view for target 112.5-115.

mcx copper future last closed at 464.85 with loss of 4 rupees.in intraday mcx copper future made high near 467 while low was near 459.total 8 rupee intraday range and closed with loss.here for intraday above 460 keep long target at 472-475.

mcx lead future last closed at 131.15 with loss of 85 paise.in intraday mcx lead future made high near 131 while low was near 127.total 4 rupee intraday range and closed in red.here above 128 hold buy on dips view for target 132-135.

mcx nickel future last closed at 889 with 2 rupee gains.in intraday mcx nickel future made high near 896 while low was near 872.total 24 rupee intraday range and closed positive.for intraday expect 910-930 as target while 860 remain as support.

mcx zinc future last closed at 116.4 with loss of 1.4 rupees.in intraday mcx zinc future made high near 117 while low was near 114.total 3 rupee intraday range and closed with gains.here above 115 hold long view for target 118-120.

energy commodity forecast

mcx crude oil future last closed at 6620 with loss of 213 rupees.in intraday mcx crude oil future made high near 6800 while low was near 6600.total 200 rupee intraday range and closed with loss.here expect downside rally to continue and target remain around 6550-6500.

mcx natural gas future last closed at 230.8 with almost 7 rupee drop.in intraday mcx ng future made high near 237 while low was near 229.total 8 rupee intraday range and closed with loss.here below 236 hold shorts for target 224-220 for intraday.

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Pramod Baviskar

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