commodity forecasts for 4 sep 2013

commodity forecasts for 4 sep 2013

bullion commodity forecast

mcx gold oct expiry future last closed at 34430 with gains of almost 1400 rupees.in intraday mcx gold future made high near 34500 while low was near 32900.total 1600 rupee intraday rally and closed with high gains.here rally expected to continue and expect target of 35-35.5k in intraday.

mcx silver sep expiry future last closed at 57135 with gains of 2200 rupees.in intraday mcx silver future made high near 57600 while low was near 54800.total 2800 rupee intraday rally and closed with sharp gains.here expect above 57k next target of 60-61k in short terms.

metal commodity forecast

mcx aluminium sep expiry future last closed at 123.5 with gains of 1.8 rupees.in intraday mcx aluminium future made high near 124 while low was near 120.total almost 4 rupee rally from lows and closed with gains on sharp short covering.here above 122.5 hold long view for target 124-125 on upside.

mcx copper nov expiry future last closed at 509.1 with gains of 13 rupees.in intraday mcx copper future made high near 510 while low was near 494.total 16 rupee intraday rally from lows and closed with gains.here above 510 on sustainable basis expect next target at 525-540.

mcx lead sep expiry future last closed at 148 with gains of 1.65 rupees.in intraday mcx lead future made low near 148 while low was near 145.total 3 rupee intraday range and closed with gains.here above 146 support levels keep target at 150-154.

mcx nickel sep expiry future last closed at 948.5 with gains of 24 rupees.in intraday mcx nickel future made low near 920 while high was near 950.total almost 30 rupee intraday rally from low and closed above support.here above 940 hold long view for target 965-980 on upside.

mcx zinc sep expiry future last closed at 129.95 with gains of 2.35 rupees.in intraday mcx zinc future made high near 130 while low was near 126.total 4 rupee intraday rally and trending toward highs.here above 130 next target will be 134-138 on upside.

energy commodity forecast

mcx crude oil sep expiry future last closed at 7490 with gains of 294 rupees.in intraday mcx crud oil future made high near 7500 while low was near 7150.total 350 rupee intraday rally and closed with heavy gains.here expect 7700-7800 if holds 7500 on closing basis.

mcx natural gas sep expiry future last closed at 252.6 with gains of 4.4 rupees.in intraday mcx ng future made high near 255 while low was near 246.total 9 rupee rally from bottom and closed with gains near highs.here expect 260-275 as next target zone if hold 248 on closing basis.

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Pramod Baviskar

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