Commodity report 29 October 2013

Commodity report 29 October 2013

bullion commodity forecast

mcx gold future last closed at 30647 with loss of 60 rupees.in intraday mcx gold future made high at 31164 while low was at 30445.total 700+ rupee intraday range and closed with loss.here 31200 remain as strong supply zone while 30400 will be stoploss for all long positions.

mcx silver future last closed at 49548 with loss of 161 rupees.in intraday mcx silver future made high at 49980 while low was at 49432.total 450 rupee intraday range and closed with loss as profit booking triggers.here 48800 is stoploss for long positions and on upside 50k and 50800 remain as target zones.

metal commodity forecast

mcx aluminium future last closed at 113.8 with gains of 1.1 rupees.in intraday mcx aluminium future made high at 114.25 while low was at 112.9.total 1.5 rupee intraday range and closed with gains.here keep target at 115+.on downside 112.5 is strong support for tomorrow.

mcx copper future last closed at 446.4 flat.in intraday mcx copper future made high at 449.35 while low was at 445.45.total 4 rupee intraday range and closed flat.here watch 448 as breakout levels for upside target 454-460.

mcx lead future last closed at 134.85 with gains of 55 paise.in intraday mcx lead future made high at 135.55 while low was at 133.7.total almost 2 rupee intraday range and closed with gains.now 138 will be next target zone.

mcx nickel future last closed 892.6 with gains of 2 rupees.in intraday mcx nickel future made high at 901 while low was at 889.total 12 rupee intraday range and closed with flat gains.here 880 will remain as support level.

mcx zinc future last closed at 119.15 with gains of 1.05 rupees.in intraday mcx zinc future made high at 119.65 while low was at 117.7.total 2 rupee intraday range and closed with gains.here 122 will be next target zone for zinc prices.

energy commodity forecast

mcx crude oil future last closed at 6087 with gains of 42 rupees.in intraday mcx crude oil future made high at 6108 while low was at 6022.total 90 rupee+ intraday range and closed with gains.here expect technical bounce back upto 6200-6250 levels.

mcx natural gas future last closed at 227.8 with loss of 7.5 rupees.in intraday mcx natural gas future made high at 234 while low was at 227.total 7 rupee intraday range and closed with loss.here 214-220 is best zone for long term investment.expect correction in near terms.

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Pramod Baviskar

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