Premarket mcx commodities technical report and tips
Free mcx tips for bullion
mcx gold feb expiry future closed at 30901 with gains.today gold future given ups and down swing on global news flow but here rupee weakness supporting prices and may continue to support.watch tomorrow above this 30800-30900 zone we may see sharp rally.we are bullish here and above 30750 support expecting 31200 and then 31450 on upside.
mcx silver march expiry future closed at 59758 with gains.as we given yesterday now silver got its momentum back and prices remain very volatility in near short term but with upward directions.silver future taken major support and moving above.for tomorrow expect breakout above 59900 for target of 60500 to 61400 for intraday.
Free mcx tips for base metals
mcx aluminium jan expiry future closed at 110.75 flat.here prices now showing consolidation pattern which may eventually take upward direction after consolidation.below 112.8 remain bearish but one can play for technical bounce back with strict stoploss.
mcx copper feb expiry future closed at 438.6 with loss.after gap up opening we seen rally upto 442.5 but supply from resistances made pressure and look like copper future trending towards major supports.on downside expect 434 to 429 on upside 444.5 remain strong resistance.
mcx lead jan expiry future closed at 124.1 with loss.here supply pressure continues like all other metals mostly on profit booking.below 126.8 traders may continue to hold shorts and expect 122 to 118 level in medium to long term view.for intraday go short below 123.5 with stoploss.
mcx nickel jan expiry future today closed at 954 flat.today we seen sharp volatility in this metal.for tomorrow if hold 953 then expect rally upto 960 to 968 on upside but below 953 again 940 and then 929 so take call on opening and support levels.
mcx zinc jan expiry future closed at 108.1 with loss.after gap up opening mcx zinc lost gains on fresh selling and profit booking.on downside bottom if 107.5 is most important if breaks again sharp down fall upto 105-104 expected.
Free mcx tips for energy
mcx crude oil jan expiry future today closed at 5147 with gains.here news flow and east tension supporting prices with weak rupee helping to manage supports.on chart trend and momentum is still bullish and 5080 turning strong support.ext large move above 5180 only so watch for that.
mcx natural gas jan expiry future closed at 186.6 with loss.after gap up opening natural gas prices given highs near 190 but in later session profit booking hit market and prices tumbled down.for tomorrow expect correction but must buy near 182 with stoploss on upside 193 and then 200 are short to medium term targets.