commodity forecast for 7 jun 2013

commodity forecast for 7 jun 2013


bullion commodity forecast

mcx gold aug expiry future last closed at 27883 with intraday mcx gold future made high above 28k while low was near 500 rupee intraday range and strong follow up weak rupee adding premium while trapped short boosting on every upside.for tomorrow buy near support 27700 with stoploss and expect breakout above 28k may be again 500+ points rally.

mcx silver jul expiry future last closed at 44,455 with intraday mcx silver future made high near 44700 while low was near 43700 so total 1000 rupee intraday volatility and follow up buying for buy near support 44200 with stoploss and expect 45 to 45.5 as targets in first positional target is now t 47k.

metal commodity forecast

mcx aluminium jun expiry future last closed at 110.25 with intraday mcx aluminium future made high near 111 while low was near 1 rupee move and now fatigue is seen in all base metals prices.for tomorrow expect correction upto 108-107 levels.

mcx copper jun expiry future last closed at 416.6 with intraday mcx copper future made high near 424 while low was near 8 rupee intraday move and profit booking in below 418 means bearish signal and may show correction upto 408 to 400 levels in intraday.

mcx lead jun expiry future last closed at 124.8 with intraday mcx lead future made high at 127.1 while closed at also same picture and may show sharp correction upto major support zone of 122-123 in next 1-2 sessions.

mcx nickel jun expiry future last closed at 855 with intraday mcx nickel future made high at 869 while low was near 854 and closed near intraday given 15 rupee volatility and sharp profit booking expect profit booking to continue and may show 830-825 levels on downside.

mcx zinc jun future last closed at 108.8 with intraday mcx zinc future made high at 110.25 while low was 110.7 and closed near it.for tomorrow expect correction to continue and may show 106-105 levels on downside.

energy commodity forecast

mcx crude oil jun expiry future last closed at 5396 with intraday mcx crude oil future made high at 5432 while low was almost 100 rupee move and target of 54k is achieved by crude oil.but now expect correction may be upto 5350 to 5300 on downside.

mcx natural gas jun expiry future last closed at 218 with heavy loss as expected and as given intraday mcx ng future made high at 228 while low was near 218 and closed at it.for tomorrow watch 215 as support if breaks then expect 208 and then 200 levels on downside.below 200 long term trend will disturb for ng prices.

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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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