commodity forecast for 30 aug 2013

commodity forecast for 30 aug 2013

 

bullion commodity forecast

mcx gold oct expiry future last closed at 33665 with gains of 260 rupees.in intraday mcx gold future made high near 33862 while low was near 33k.total 800 rupee intraday range and closed with gains.here above 32500 traders keep buy on dips view for target 34k-35k on upside.

mcx silver sep expiry future last closed at 55550 with loss of 226 rupees.in intraday mcx silver future made high near 56700 while low was near 54200.total almost 2500 rupees intraday range and closed with loss on profit booking.here below 56k may continue to correct upto 54k-53k.

metal commodity forecast

mcx aluminium sep expiry future last closed at 123.1 flat.in intraday mcx aluminium future made high near 125 while low was near 121.total almost 4 rupee intraday range and closed flat.here above 122.5 hold long view for target 124-125 in intraday.

mcx copper nov future last closed at 496.5 with gains of 40 paise.in intraday mcx copper future made high near 506 while low was near 490.total 16 rupee intraday range and closed flat positive.here above 490 hold long view for target 510-520 on upside.

mcx lead sep expiry future last closed at 148.1 with gains of 1.35 rupees.in intraday mcx lead future made high near 150 while low was near 146.total 4 rupee intraday range and closed with gains.here near 150 expect some pressure and may be correction.

mcx nickel sep expiry future last closed at 957.7 with gains of 7 rupees.in intraday mcx nickel future made high near 971 while low was near 943.total 25+ rupee intraday rally and closed with gains.here watch 980 as strong resistance on chart above that 1005-1020 will be targets.

mcx zinc sep expiry future last closed at 129.9 with gains of 35 paise.in intraday mcx zinc future made high near 132 while low was near 128.total 4 rupee intraday range and closed flat positive.here above 128 hold long view for target 130-131 on upside.

energy commodity forecast

mcx crude oil sep expiry future last closed at 7450 with gains of 103 rupees.in intraday mcx crude oil future made high near 7500 while low was near 7300.total 200 rupee intraday range and closed with gains.here expect some correction and supply near 7500 levels.on downside expect 7300 and below levels as targets.

mcx natural gas sep expiry future last closed at 244 with gains of 6 rupees.in intraday mcx natural gas future made high near 247 while low was near 235.total 12 rupee intraday range and closed with gains.here on upside 260 will be target for medium term and above 228 hold buy and accumulate view.

The Author

Pramod Baviskar

Professional Market Trader And Owner Of Dalal Street Winners Advisory And Coaching Services. Working Since 2007 And Online Presence Since 2010. We Provide Highly Accurate And Professional 1 Entry And 1 Exit Future, Option, Commodity, Currency And Intraday Stock Tips On Whatsapp With Live Support And Follow Up.
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