commodity predictions for 12 dec 2014
Mcx gold future last closed at 27260 with gain. In intraday gold hit high at 27359 while low was at 27006. Total 300-rupee intraday range and closed with gain. Here 27100 is strong support and 27,500 is strong resistance. Keep buy on dips view.
Mcx silver future last closed at 38750 with gain of 82 rupees. In intraday mcx, silver future made high at 38990 while low was at 38330. Total 600-rupee intraday range and closed with gain. Here 38200 is support and 39400 is resistance for the day.
Mcx aluminium future is last closed at 120.9 with loss. In intraday aluminium future hit high around 121.55 while low was below 120.5. Above 120, keep buy on dips view.
Mcx copper future last closed at 408.6 with loss. In intraday copper future made high at 410 while low was at 403. Total 7-rupee range and closed with gain. For the day expect correction and 412 is stop loss for short positions.
Mcx lead future last closed at 124 with loss. In intraday mcx, lead future made high around 126 while low was near 123. Total 3-rupee range and closed with loss. Here for intraday above 123 keep buy on dips strategy.
Mcx nickel future last closed at 1015 with loss. Nickel future in intraday-recorded high around 1022 while low was around 1006. Total 18-rupee intraday range and closed with loss. Here 1020 is strong resistance for intraday.
Mcx zinc future last closed at 136.3 with gain. In intraday zinc, future made high around 137 while low was near 134. Total almost 3-rupee range and closed with gain. Here 134 is strong support on downside.
Mcx crude oil future last closed at 3813 with loss. In intraday crude future made high around 3858 while low was at 3762. Total 100-rupee intraday range was seen and closed with loss. Here expect downside up to 3750.
Mcx natural gas future last closed at 233 with loss. In intraday ng future hit high around 237 while low was around 226. Total 11-rupee intraday range was seen and downtrend continues. Here 218-219 is previous bottom support and possible intraday target.