commodity forecast for 5 jun 2013
bullion commodity forecast
mcx gold jun future last closed at 27050 with loss of almost 1% drop.in intraday mcx gold future made high at 27272 while low was 26900.total almost 400 rupee intraday volatility and ups and down continues on rupee and global volatility.for tomorrow below 27100 expect remain to bearish and may show downside targets at 26800-26500.
mcx silver jul future last closed at 43785 with loss.in intraday mcx silver future made high near 44300 while low was near 43500.total 800 rupee intraday range and profit booking on cautious note.for tomorrow below 44k hold selling view for downside targets of 43200 to 43k in intraday.
metal commodity forecast
mcx aluminium jun expiry future last closed at 108.9 with gains.in intraday mcx aluminium future made high at 109.1 while low was 107.45.total 1.5 rupee intraday move and strong buying momentum continues on follow up buying.for tomorrow buy near support 108.5 with stoploss and expect intraday target near 110.
mcx copper jun expiry future last closed at 420.6 with gains.in intraday mcx copper future made high near 421 while low was near 415.total 6 rupee intraday move and strong copper future on buying spree.for tomorrow buy near support 416-417 with stoploss and expect 424 to 428 levels in intraday.
mcx lead jun expiry future last closed at 126.6 with gains.in intraday mcx lead future made high near 127 while low was near 125.almost 2 rupee intraday movement and still strong follow up buying in market.for tomorrow buy near support 125 with stoploss and expect 127 and then 131 positionally.
mcx nickel jun expiry future last closed at 863.7 with gains.in intraday mcx nickel future made high at 870 while low was 856.total 14 rupee intraday movement and strong follow up buying continues to hold uptrend rally on intraday chart.for tomorrow buy near support 855 with stoploss and expect 870-880 levels as intraday targets.
mcx zinc jun expiry future last closed at 109.65 with gains.in intraday mcx zinc future made high near 110 while low was near 108.total 2 rupee intraday move and strong follow up buying.for tomorrow buy near support 108.5 with stoploss and expect targets at 110.5 to 111 in intraday.
energy commodity forecast
mcx crude oil jun expiry future last closed at 5293 with gains.in intraday mcx crude oil future made high at 5335 while low was near 5230.total 100+ rupee intraday run from bottom and bullish momentum on chart.for tomorrow buy near support 5260 with stoploss and expect 5375 to 5400 levels as intraday targets.
mcx natural gas jun expiry future last closed at 227.6 with gains.in intraday mcx ng future made high at 228 while low was 224.total 4 rupee move and technical bounce back rally.here buy above 230 levels only for target 235 to 238 in intraday.below that hold short view and expect 221 to 218 as sharp downside targets.