commodity forecast for 3 sep 2013
bullion commodity forecast
mcx gold oct expiry future last closed at 33025 with gains of 36 rupees.in intraday mcx gold future made high near 33200 while low was near 32400.total 800 rupee intraday range and closed with gains.here for intraday hold long view and expect target of 33500-33800 on downside 32800 remain as support.
mcx silver oct expiry future last closed at 55072 with gains of 1860 rupees.in intraday mcx silver future made high near 55300 while low was near 51100.total 4200 rupee intraday high volatile move and closed with gains.here above 54k expect targets of 56-57k in 1-2 trading session so stay on buy side.
metal commodity forecast
mcx aluminium sep expiry future last last closed at 121.6 with loss of 50 paise.in intraday mcx aluminium future made high near 122 while low was near 119.total 3 rupee intraday range and closed with loss.here above 118 hold long view for target 122.5-126 on upside.
mcx copper sep expiry future last closed at 496.4 with gains of almost 10 rupee.in intraday mcx copper future made high near 497 while low was near 485.total almost 12 rupee gains and closed with sharp rally.here watch 500 as major supply point above that expect 15-25 rupee rally.
mcx lead sep expiry future last closed at 146.15 with gains of 1 rupee.in intraday mcx lead future made high near 147 while low was near 114.total 3 rupee intraday rally and closed with gains.here we may see 149-150 levels here on downside 145 is strong support.
mcx nickel sep expiry future last closed at 924.8 with loss of 4 rupees.in intraday mcx nickel future made high near 929 while low was near 914.total 15 rupee intraday range and closed with loss.here below 940 hold short view for target 910-900 in intraday.
mcx zinc sep expiry future last closed at 127.5 with loss of 75 paise.in intraday mcx zinc future made high near 128 while low was near 125.total 3 rupee intraday range and closed with loss.here above 128 expect 131-134 as upside targets.
energy commodity forecast
mcx crude oil sep expiry future last closed at 7189 with loss of 59 rupee.in intraday mcx crude oil future made high near 7215 while low was near 7015.total 200 rupee intraday range and closed with loss.here expect consolidation but above 7000 keep buying view for target 7200 and above.weak rupee support prices here.
mcx natural gas sep expiry future 248 with gains of almost 9 rupees.in intraday mcx ng future made high near 249 while low was near 241.total 8 rupee rally and closed with gains.here above 248 keep target at 255-268 on upside.