Commodity report 1 November
bullion commodity technical report
mcx gold future last closed at 29833 with loss of 325 rupees.in intraday mcx gold future made high at 30200 while low was at 29660.total 700+ rupee intraday range and closed with loss.here now keep sell on rise view and expect lower top lower bottom cycle.may show 28k on lower side.
mcx silver future last closed at 48500 with loss of 1528 rupees.in intraday mcx silver future made high at 50100 while low was at 48100.total 2000 rupee intraday range and closed with loss.here expect 47800 to 46k levels as downside targets.as same lower tops and lower bottom cycle.
for both precious metals,rupee factor remain most important.if rupee continue to gain then expect sharp downside rallies than usual.
metal commodity technical report
mcx aluminium future last closed at 113.9 with loss of 75 paise.in intraday mcx aluminium future made high at 114.7 while low was at 113.5.total 1.2 rupee intraday range and closed with loss.here above 112.5 keep long view.
mcx copper future last closed at 452.8 with gains of 2.15 rupees.in intraday mcx copper future made high at 453 while low was near 448.total 5 rupee intraday range and closed with gains.here above 448 keep long view for 454-460 for now.
mcx lead future last closed at 134.9 with loss of 10 paise.in intraday mcx lead future made high at 135.15 while low was at 134.05.total 1.1 rupee intraday range and closed with loss.here still keep long view for target 138+.
mcx nickel future last closed at 906.2 with gains of 3.6 rupees.in intraday mcx nickel future made high at 907.3 while low as at 895.3.total 12 rupee intraday range and closed with gains.here above 880 keep long view.
mcx zinc future last closed at 120.15 with gains of 15 paise.in intraday mcx zinc future made high at 120.2 while low was at 118.85.total 1.5 rupee intraday range and closed with gains.here expect 122-126 levels on upside.
energy commodity technical report
mcx crude oil future last closed at 5998 with gains of 44 rupees.in intraday mcx crude oil future made high at 6006 while low as at 5930.total almost 75 rupee intraday range and closed with gains as expected.here watch for 6100-6150 levels.
mcx natural gas future last closed at 223.4 with gains 40 paise.in intraday mcx natural gas future made high at 226.4 while low was at 220.8.total 5.5 rupee intraday range and closed with flat gains.here below 228 keep short view.