commodity future trading tips 10th October 2013
bullion commodity forecast
mcx gold future last closed at 29284 with loss of 335 rupees.in intraday mcx gold future made high at 29649 and low was at 29011.total 600+ rupee intraday range and closed with loss as already predicted.here expect downside upto 28800 and below that downtrend on account of weak comex gold and strong rupee.
mcx silver future last closed at 48971 with loss of 981 rupees.in intraday mcx silver future made high at 49875 while low was at 48578.total 1300 rupee intraday range and broke support level.here below 49400 stay short for target 48k and then 46500 on downside.expect downward cycle for both silver and gold futures.
metal commodity forecast
mcx aluminium future last closed at 113.7 with loss of 70 paise.in intraday mcx aluminium future made high at 115.05 while low was at 113.total 2 rupee range and closed with loss on profit booking.here sell around 114 with stoploss above 115.5 for target 112.5 and below.
mcx copper future last closed at 446.8 with almost 10 rupee drop.in intraday mcx copper future made high near 455 while low was at 445.total 10 rupee intraday range and sell off.here sell around 448-450 with stoploss 454 and expect target 442-438 on downside.
mcx lead future last closed at 128.15 with loss of 1.2 rupee.in intraday mcx lead future made high near 131 while low was at 127.total 4 rupee intraday range and closed with loss.here expect correction upto 127-126 levels.
mcx nickel future last closed at 849.5 with loss of 14 rupees.in intraday mcx nickel future made high near 865 while low was at 848.total 17 rupee intraday range and closed with loss.here sell near 855 with stoploss 870 and expect target 840-830 on downside.
mcx zinc future last closed at 115.4 with loss of 65 paise.in intraday mcx zinc future made high near 117 while low was near 115.total almost 2 rupee range and closed with loss.here sell near 116-116.5 with stoploss jus above 117.5 for target 114-112.5.
energy commodity forecast
mcx crude oil future last closed at 6296 with loss of 158 rupees.in intraday mcx crude oil future made high near 6470 while low was near 6283.total almost 200 rupee intraday range and closed with heavy loss as expected.here expect 6250 and below levels for tomorrow.
mcx natural gas future last closed at 229.9 with loss of 2 rupees.in intraday mcx natural gas future made high near 233 while low was at 228.9.total 4 rupee intraday range and closed with loss.here buy near 226-228 zone with stoploss 221 and keep target at 234-238.