Election results impact on commodity market on 16 may

Election results impact on commodity market on 16 may 2014

Election results impact on commodity market on 16 may 2014

MCX Bullion Intraday tips

MCX GOLD June expiry future last closed at 28,428 with loss. In intraday mcx gold future’s high was at 29,680 while low was at 28,375. Total 400-rupee intraday range and closed with loss. Here expect high up and down swing on election result day but below 28,800-keep downside view for target 27,900 to 27k.

MCX SILVER Jul expiry future last closed at 41,721 with loss. In intraday mcx silver future’s high was at 42,348 while low was at 41,575. Total almost 800-rupee intraday range and closed with loss. Traders below 43k stay short and investors watch sub 40k level for long-term investment.

 

MCX metal Intraday tips

MCX ALUMINIUM May expiry future last closed at 103.65 with loss. In intraday mcx aluminium, future hit high at 105.45 while low was at 103.5. Total 2-rupee intraday range and closed with loss. Investors here follow buy and accumulate view on correction with strict stop loss as your risk.

MCX COPPER Jun expiry future last closed at 416.1 with loss. In intraday mcx, copper future made high at 419 while low was at 414. Total 5-rupee intraday range and closed with loss. Above 400 rupee, keep buy on dips view.

MCX LEAD May expiry future last closed at 125.15 with loss. In intraday mcx lead future’s high was at 127 while low was at 125. Total 2-rupee intraday range and closed loss. Above 123, keep buy on dips view.

MCX NICKEL May expiry future last closed at 1108 with loss. In intraday mcx nickel future’s high was at 1141 while low was at 1100. Total 41-rupee intraday range and closed with loss. Nickel future is heading towards 970-990 zones but watch 1100 level for short terms.

MCX ZINC May expiry future last closed at 122.5 with loss. In intraday mcx zinc, future hit high at 124.65 while low was at 122.35. Total 2-rupee intraday range and closed with loss. Below 123 may show another 1-2 rupee fall.

 

MCX Energy Intraday tips

MCX CRUDEOIL May expiry future last closed at 6040 with loss. In intraday mcx crude oil, future hit high at 6085 while low was at 6021. Total almost 65 rupee intraday and closed with loss. Traders below 6100 keep bearish view for deep downside.

MCX NATURALGAS May expiry future last closed at 266.9 with gain. In intraday mcx natural gas, future made high at 268 while low was at 256. Total 12-rupee intraday range and closed with gain. Traders with strict stop loss 262 keep buy on dips view for targets 275-280.

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The Author

Pramod Baviskar

Professional Market Trader And Owner Of Dalal Street Winners Advisory And Coaching Services. Working Since 2007 And Online Presence Since 2010. We Provide Highly Accurate And Professional 1 Entry And 1 Exit Future, Option, Commodity, Currency And Intraday Stock Tips On Whatsapp With Live Support And Follow Up.

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