commodity forecast for 26 sep 2013 premarket report
bullion commodity forecast
mcx gold future last closed at 30242 with gains of 422 rupees.in intraday mcx gold future made high at 30300 while low was near 29800.total 500 rupee intraday range and closed with gains.here still holding 29900 support so stay long with stoploss for target 30800-31400 on upside.
mcx silver future last closed at 49160 with gains of 6 rupees.in intraday mcx silver future made high at 49550 while low was 48650.total 900 rupee intraday range and closed flat.here above 48k hold long view for short term target 50-51k on upside.below 48k go short.
metal commodity forecast
mcx aluminium future last closed at 109.75 with loss of 80 paise.in intraday mcx aluminium future made high near 111 while low was near 109.total 2 rupee intraday range and closed in red.here below 109 go short for 1-2 rupee fall in intraday.
mcx copper future last closed at 456.5 with loss of 3 rupees.in intraday mcx copper future made high at 460 while low was near 456.total 4 rupee intraday range and closed in red.here below 460 hold short for target 448.
mcx lead future last closed at 127.9 with loss of 80 paise.in intraday mcx lead future made high at 129 while low was near 127.total 2 rupee range and profit booking continues.here below 130 keep short view for target 125 and below.
mcx nickel future last closed at 859 with loss of 3 rupees.in intraday mcx nickel future made high at 865 while low was near 855.total 10 rupee intraday range and closed in red.here below 880 keep short view for target 840 and below?
mcx zinc future last closed at 115.7 with loss of 45 paise.in intraday mcx zinc future made high near 116 while low was near 115.total 1 rupee intraday range and closed in red.here below 117 hold short view and expect target upto 113-110.
energy commodity forecast
mcx crude oil future last closed at 6437 with loss of 64 rupees.in intraday mcx crude oil future made high near 6555 while low was near 6425.total 130 rupee intraday range and closed in red as expected.here expect 6400-6300 on downside as already suggested on upside 6500 is major resistance line.
mcx natural gas future last closed at 225.6 with loss of 1.3 rupee.in intraday mcx ng future made high at 228 while low was near 225.total 3 rupee intraday range and closed in red.below 230 keep sell on rise view for target 220-214 on downside.