commodity future tips for 23 dec 2014
Mcx gold future last closed at 26636 with loss. In intraday gold hit high at 27050 while low was at 26538. Total 600-rupee intraday range and closed with loss. Here 26500 is strong support and 28850 is strong resistance. Expect bounce back from support level.
Mcx silver future last closed at 36210 with loss. In intraday mcx, silver future made high at 37150 while low was at 35830. Total 1300-rupee intraday range and closed with loss. For intraday, silver will have 35800 as support and 37,000 as resistance. Expect technical bounce back.
Mcx aluminium future is last closed at 118.2 with loss. In intraday aluminium future hit high around 120 while low was below 118. For intraday, aluminium future will have support around 115 and resistance at 119. Fresh breakdown was seen.
Mcx copper future last closed at 406.85 with loss. In intraday copper future made high at 411 while low was at 405. Total 6-rupee range and closed with loss. For the day 410 is strong resistance and on downside, 402 and 398 are support zones. Follow buy and accumulate strategy with strict stop loss below 398.
Mcx lead future last closed at 118.05 with loss. In intraday mcx, lead future made high around 119 while low was near 117. Total 2-rupee range and closed with loss. For intraday, mcx lead future has support around 117 and resistance at 120. Expect technical bounce back.
Mcx nickel future last closed at 990 with loss. Nickel future in intraday-recorded high around 1000 while low was around 985. Total 15-rupee intraday range and closed with loss. Here 960 is strong support and above it keeps long view for short terms.
Mcx zinc future last closed at 137.1 with loss. In intraday zinc, future made high around 138 while low was near 136. Total almost 2-rupee range and closed with loss. Mcx zinc future will have intraday support at 135 and strong resistances at 138-139. Stay long with stop loss below 136.
Mcx crude oil future last closed at 3539 with loss. In intraday crude future made high around 3730 while low was at 3526. Total 200-rupee intraday range was seen and closed with loss. Mcx crude future has intraday support at 3500 and strong resistance at 3600. Expect short covering rally ahead so above 3480 keep buy and accumulate view for short to medium terms.
Mcx natural gas future last closed at 202 with loss. In intraday ng future hit high around 219 while low was around 197. Total 22-rupee intraday range was seen and closed with loss on fresh shorting. Given target of 195 almost achieved.