commodity forecast for 27 june 2013
bullion commodity forecast
mcx gold aug expiry future last closed at 26160 with loss of 399 rupees.in intraday mcx gold future made high near 26535 while low was near 25758.total 800 rupees intraday volatility and sharp breakdown in gold as expected.for tomorrow expect downside rally to continue and with stoploss of 26300 hold short positions for target of 25700 and then 25400.rupee is only factor holding domestic prices still in heavy premium.
mcx silver jul expiry future last closed at 39585 with loss of 1078 rupees.in intraday mcx silver future made high near 40542 while low was 38825.total 1700 rupee high volatile range and prices slump as expected.for tomorrow expect downside to continue and may show 38k target in next session.
metal commodity forecast
mcx aluminium jun expiry future last closed at 105.2 with gains of 1.5 rupee.in intraday mcx aluminium future made high near 105.5 while low was near 103.total 2.5 rupee intraday move and taken support of 103.here watch another breakout above 105.5 for target near 108-109.below that remain in range.
mcx copper kun expiry future last closed at 409.1 with gains of 5.65 rupees.in intraday mcx copper future made high near 410 while low was near 398.here 12 rupee move and weak rupee supporting copper future.here now 408 is support above this hold long view for target 414 to 418 in intraday.
mcx lead jun expiry future last closed at 123.15 with gains of 1.15 rupee.in intraday mcx lead future made high near 124 while low was near 120.5.total 3.5 rupee intraday range and breakout above 122.5.here above 122.5 level targets of 125 to 126 possible.
mcx nickel jun expiry future last closed at 826 flat negative.in intraday mcx nickel future made low at 817 while high was near 831.total 14 rupee intraday range and consolidation for nickel prices.here technically below 828 remain bearish and targets open at 810-800.
mcx zinc jun expiry future last closed at 109.9 with gains of 1.65 rupee.in intraday mcx zinc future made high near 110 while low was near 107.total 3 rupee move and zinc with breakout.here above 109.5 hold long view for intraday targets at 111-112.
energy commodity forecast
mcx crude oil jul expiry future last closed at 5792 with gains of 100 rupees.in intraday mcx crude oil future made low at 5653 while high was at 5814.total 150 rupees intraday rally and trending towards all time high.here on weak rupee and nymex crude oil breakout expect 3-5% bull run and target above 6000.
mcx natural gas jul expiry future last closed at 226.5 with gains of 5 rupees+.here in intraday mcx natural gas future made low near 220 while high was above 227.total 7 rupee intraday range and as expected taken support and remain in bullish territory.here stoploss below 218 keep long view for medium term targets at 240-250.