Premarket mcx commodities technical report and tips
Free mcx tips for bullion
mcx gold feb future currently trading at 31050 with huge losses.here as we told double impact weak comes gold on year end and strong rupee factor.currently gold trading at day low and weakness may continue tomorrow.as we said resistance of 31500 played its role and now wait for targets of 30800 to 30500 on downside.in critical conditions 29800 also possible in medium terms.
mcx silver march future trading at 60672 with huge losses.and here also as we recommending since last week 65500 was absolute top and 64000 was major selling level now wait for 59800-59000 as targets.may show today to tomorrow.in critical conditions 57000 level also possible on chart.
Free mcx tips for base metals
mcx aluminium dec future currently trading at 114.35 with loss.here strong rupee and technical selling continues to pressure on prices.here as we giving expect sharp downside levels and for all short keep stoploss above 115.5.below 112.5 fall will accentuate.
mcx copper feb expiry future currently trading at 446.6 with loss.today gap up opening and made high near 449 but unable to cross 450 level.this failure may result in sharp fall.here traders must take contra view and take short positions with stoploss above 450.
mcx lead dec expiry future currently trading at 126.5.here outperformance may continue and expecting 130-135 in medium to long term.for short term traders 125 is stoploss and 127-129 and 130.5 are target levels.below 125 next support at 122.5.
mcx nickel dec expiry future currently trading at 975 with gains.here after flat opening we seen some strong buying and now moving towards 985 to 995 level.955 is strong support and must used as stoploss for all longs.new shorts suggested below this 955-942 zone only.
mcx zinc dec expiry future currently trading at 113.15 with gains.today we seen gap up opening and highs near 114 while today low was 112.6.for tomorrow above 112.1 stay long and expect 114 to 115.5 again.below 112 correction and consolidation may trigger.
Free mcx tips for energy
mcx crude oil jan expiry future today closed at 4845 with gains.on chart trend is up and 4830 to 4795 zone is buyer accumulation zone for targets of 4900 to 4980.stoploss for all long positions must be below major support of 4770.as we told dec future almost expired at top and we still see 4980+ levels in medium term.strong rupee may hit here and show gap down openings?
mcx natural gas dec future today closed at 187.2 with gains.here after initial weak opening we seen short covering and trend looks positive and expect bounce back upto 193 to 195 but for that 185-186 support must be maintained.if closed below 185 then 170-165 possibility rise again.natural gas is very volatile and most of the time set traps for traders so trade strictly.