commodities intraday levels for 7 Jan 2015
Mcx gold future last closed at 27350 with gain. In intraday gold hit high at 27449 while low was at 27083. Total 400-rupee intraday range and closed with gain. Here 27200 is strong support and 27800 is strong resistance. In intraday keep buy on dips view with strict stop loss.
Mcx silver future last closed at 37834 with gain. In intraday mcx, silver future made high at 38136 while low was at 37052. Total 1100-rupee intraday range and closed with gain. For intraday, silver will have 37200 as support and 38500 as resistance. Stay long with stop loss of 37000.
Mcx aluminium future is last closed at 112.65 with loss. In intraday aluminium future hit high around 114.95 while low was below 112.4. For intraday, aluminium future will have support around 111 and resistance at 114. Expect another downside move.
Mcx copper future last closed at 391.65 with gain. In intraday copper future made high at 394 while low was at 390. Total 4-rupee range and closed with gain. For the day 400 is strong resistance and on downside, 390 is support zones. Expect a small bounce back.
Mcx lead future last closed at 117.2 flat. In intraday mcx, lead future made high around 118.6 while low was near 116.8. Total 2-rupee range and closed flat. For intraday, mcx lead future has support around 116 and resistance at 120. Stay long with stop loss below 116.
Mcx nickel future last closed at 969 with gain. Nickel future in intraday-recorded high around 984 while low was around 956. Total 21-rupee intraday range and closed with gain. Here 950 is strong support and above it keeps long view for short terms.
Mcx zinc future last closed at 137.45 with loss. In intraday zinc, future made high around 139.15 while low was near 137.4. Total almost 2-rupee range and closed with loss. Mcx zinc future will have intraday support at 137 and strong resistances at 139. Stay long with stop loss below 137.
Mcx crude oil future last closed at 3077 with loss. In intraday crude future made high around 3207 while low was at 3047. Total 150-rupee intraday range was seen and closed with loss. Mcx crude future has intraday support at 3000 and strong resistance at 3120. Stay short with stop loss.
Mcx natural gas future last closed at 183.9 with loss. In intraday ng future hit high around 189.4 while low was around 179.7. Total 10-rupee intraday range was seen and closed with loss. For medium to long-term view keep buy and accumulate view.