Commodity future technical outlook for 28 Nov. 2013

Commodity future technical outlook for 28 Nov. 2013

MCX GOLD Dec. expiry future last closed at 29877 with loss of 156 rupees. Today gold future hit high at 30266 while low was at 29888. Total almost 350 rupee intraday range and closed with loss. Here with stoploss at 30200 keep sell on rise view. 29200 will be next target for gold prices.

MCX SILVER Dec. expiry future last closed at 44148 with loss of 312 rupees. In intraday silver future hit high at 44861 while low was at 44056 . Total almost 800 rupees intraday range and closed in red. now expect downside target upto 43,000 with stoploss of 44600.

MCX ALUMINIUM Nov. expiry future last closed at 107.05 with loss of 1.25 rupees. In intraday aluminium future made high at 108.25 and low was at 106.8 . Total 1.5 rupee intraday range and closed in red. For today below 108 keep short view.

MCX COPPER Nov. expiry future last closed at 442.45 with loss of 80 paisa. In intraday copper future made high at 443.45 and low was at 440.75. Total 3 rupee intraday range and closed in red. For today expect downside upto 434.

MCX LEAD Nov. expiry future last closed at 128.6 with loss of 1.25 rupees. In intraday lead future made high at 129.7 and low was at 128.3 . Total 1.5 rupee intraday range and closed in red . Here watch 128 as strong support.

MCX NICKEL Nov. expiry future last closed at 829.4 with 7.4 rupee loss. In intraday nickel future made high at 839.9 and low was at 827.5. Total 12 rupee intraday range and closed in red . Below 840 expect very bearish downside move upto 780.

MCX ZINC Nov. expiry future last closed at 115.5 with loss of 90 paisa. In intraday zinc future hit high at 116.4 and low was at 115.3 . Total 1.1 rupee plus intraday range and closed in red on profit booking. Here watch 115 as strong support below that 112 will be next target.

MCX CRUDEOIL Dec. expiry future last closed at 5774 with 122 rupee drop. In intraday crude oil future made high at 5890 and low was at 5771. Total 120 rupee intraday range and closed in red on heavy sell off . For today hold shorts with stoploss 5820.

MCX NATURALGAS Dec. expiry future last closed at 245.9 with gains of 6.1 rupees. In intraday natural gas future made high at 246.4 and low was at 240 . Total 6.4 rupee intraday range and closed with gains . For today keep long view and above 240 support expect higher levels upto 252.

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Pramod Baviskar

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