commodity forecasts for 28 may 2013
free mcx gold silver tips
mcx gold june expiry future last closed at 26471 with gains.in intraday mcx gold future made high at 26489 while low was 26364.total almost 150 points intraday upside run and gold prices soaring as expected.for tomorrow above 26420 hold long view and expect 26600 to 26700 levels in intraday.as expected rupee remain major supporting factor.
mcx silver jul expiry future last closed at 43643 with gains.in intraday mcx silver future made high at 43702 while low was 43400.total 300+ rupees intraday volatility and continues to recover.for tomorrow above 43400 hold long view and expect 43900 and then 44200 as intraday target.if closed above 44200 then this will be fresh breakout from short term view.
free mcx aluminium-copper-lead-nickel-zinc tips
mcx aluminium may expiry future last closed at 101 with loss.in intraday mcx aluminium future made high at 101.3 while low was 100.75.narrow range on holidays on lme.here below 101.4 hold sell on rise view and expect 100.6 to 100 levels as downside intraday target.for intraday buying suggested above 101.4 only.
mcx copper future closed at 407.4 with loss.in intraday mcx copper future made high at 408 while low was 405.9.very narrow range and some profit booking and consolidation.for tomorrow watch 408.5 as breakout level buy above this only for target 412-415 in intraday.below that expect 403-400 downside supports as well targets.
mcx lead may expiry future last closed at 115.45 with flat loss.in intraday mcx lead future made high at 115.85 while low was 114.95.total almost 1 rupee move and some correction on chart.here support is way down at 114.7 and above that hold buy on dips view.on upside still expect 116 to 117.5 as targets.
mcx nickel may expiry future last closed at 818 with loss.in intraday mcx nickel future made high at 823 while low was 818 and closed near lows.narrow 5 rupees movement and downtrend.below 823 hold sell on rise view and expect 812 to 805 as downside target here.buying suggested above 824 only if sustains.
mcx zinc future may expiry last closed at 101.8 with loss.in intraday mcx zinc future made high at 101.95 while low was 101.45.total 50 paise intraday narrow range and holding support.here above 101.5 hold long view and expect 102-103 as intraday targets on upside.below 101.5 we may expect sharp fall.
free mcx crude oil-natural gas tips
mcx crude oil june expiry future last closed at 5216 with loss.in intraday mcx crude oil future made high at 5251 while low was 5207.40+ rupees intraday movement and profit booking in crude oil futures.for tomorrow below 5230 hold selling view and expect 5180 to 5130 as targets on downside.
mcx natural gas june expiry future last closed at 242.5 with gains.in intraday mcx ng future made high near 243 while low was near 237.total 5 + rupee move and strong ng future with fresh breakout.for intraday above 236 hold long view and expect 248 and then 255 as targets on upside.