commodity forecast for 6 jun 2013
bullion commodity forecast
mcx gold aug future last closed at 27705 with gains over 2%.in intraday mcx gold future made high at 27847 while intraday low was 27157.total 700 rupee intraday movement and strong breakout on news flow support.for tomorrow buy neat support 27400 with stoploss and expect 27900 to 28k levels as upside targets.if this week close above 28k then may expect long term bull trend for domestic gold prices on account of govt action and weak rupee.
mcx silver jul future last closed at 44200 with gains of 1%.in intraday mcx silver future made high at 44592 while low was 43770.total 800 rupee intraday move and closed near resistance.here watch 44200 level if holds it then expect 47k as short term target.while for intraday can show 45 to 45.5k targets.
metal commodity forecast
mcx aluminium jun expiry future last closed at 110.85 with gains.in intraday mcx aluminium future made high above 111 while low was near 109.here support si now deep down and expect some correction and then rally.so buy near 108-109 zone only on correction.on upside 111 and then 115-116 are targets zones.
mcx copper jun future last closed at 424 with gains.in intraday mcx copper future made high near 427 while intraday low was near 418.total 9 rupee intraday movement and strong buying momentum for this metal.here now extend targets near 435 to 438 while on downside 418 is strong support for now.
mcx lead jun expiry future last closed at 127.1 with gains.in intraday mcx lead future made high at 128.4 while low was near 126.total 2 + rupee move and strong momentum here.above 126 support level hold long view for targets 129-131 in intraday.
mcx nickel jun expiry future last closed at 866 with flat gains.in intraday mcx nickel future made high at 878 while low was near 862.total 16 rupee intraday movement and consolidation for now.here above 860 level hold long view for target 870-880 again in intraday.
mcx zinc jun expiry future last closed at 110.15 with gains.in intraday mcx zinc future made high near 111 while low was near 109.2 rupee intraday move and continue to gains on buying.here watch 111 as breakout as well as resistance point and buy above it only.next target will be 115.5.
energy commodity forecast
mcx crude oil jun expiry future last closed at 5357 with gains.in intraday mcx crude oil future made high at 5373 while intraday low was 5280.total almost 100 rupee rally for crude and support from nymex as well as weak rupee.here support is deep down near 5260 above that hold buy on dips view and expect 5400+ as target zone.
mcx natural gas jun expiry future last closed at 228 with flat gains.in intraday mcx ng future made high at 229+ while low was near 226.here now watch 231 as breakout point below that may show correction.